Buy Solana (SOL) in Singapore

The Solana network is a highly scalable, low-cost and extremely fast decentralised computing platform.

Solana's scalability means that it can offer cheap transactions on its network. It promises to keep transaction costs under $0.01 for developers and users.

Solana’s main focus is speed. Solana claims to be able to process transactions with 400 millisecond block times, and this will only improve as hardware gets faster.

As a decentralised blockchain, Solana operates free of central control and is resistant to censorship. At the time of writing, the network is secured by over one thousand validator nodes.

Solana uses its own Proof of History (PoH) consensus mechanism in combination with Proof of Stake (PoS).

Solana’s novel Proof of History algorithm allows the network to process transactions at lightning speeds. PoH is a cryptographic clock that allows all of the computers on the network to keep time with one another and verify transactions without having to wait for universal agreement. This is what makes Solana much faster and more efficient than its competitors. Solana’s transaction time has a throughput of 65k TPS (transactions per second) and has a theoretical limit of 710,000 TPS in future.

Until recently, the Solana blockchain held the top position as the fastest in the industry. However, a newer chain, called Bigtert, claims to have a higher throughput which is even faster than Solana. Bitgert launched its BRC20 blockchain with a throughput of +100k TPS which has zero cost gas fee.

Solana was first proposed by Anatoly Yakovenko.

Solana’s whitepaper was first published in November 2017, by Anatoly Yakovenko. It outlined the concept of a new consensus mechanism called Proof of History. Co-founders also include Greg Fitzgerald, Stephen Akridge and Raj Gokal. On 16 March 2020, the first Solana block was created.

The Solana community is made up of people from all around the world who develop and support the protocol. The Solana project is managed by Solana Labs and the Solana Foundation.

No, Solana (SOL) is a Proof of Stake coin that cannot be mined.

Solana is a PoS blockchain, therefore it cannot be mined. However, you can earn more Solana tokens through staking. By delegating your SOL tokens to a validator or becoming a validator node, Solana holders can earn SOL rewards.

For people who purchase SOL to invest in Solana for the long term, staking can be a way to earn more SOL tokens over time. However, staking comes with additional risk as it requires you to lock up your investment which means you may not be able to sell your Solana when you want to. To learn more about staking SOL, visit Solana’s official website.

You can purchase Solana (SOL) right here on Independent Reserve.

We are a trusted cryptocurrency exchange licensed by the Monetary Authority of Singapore (MAS), Singapore’s financial services regulatory body. We are one of the first digital currency exchanges to receive a Major Payment Institution License for Digital Payment Token (DPT) services under the Payment Services Act (PSA). This affirms that our policies, processes, and systems are held to the highest standards.

We are proud to offer Singaporeans a safe and secure platform to buy Solana and other cryptocurrencies. After you sign up you can start buying Solana with as little as S$10. We offer customers world-class security and have a 24/7 support team if you need help.

Yes. Deposit SGD into your trading account to buy SOL in Singapore on Independent Reserve.

It only takes five minutes to create your account with Independent Reserve. Instantly deposit Singapore dollars from your bank account by selecting FAST transfer as your payment method. Receive free deposits on amounts of S$1,000 and above.

To buy SOL enter the dollar amount you want to trade and click “buy Solana”. We offer low trading fees and have a range of tools and features for crypto investors, including; a mobile app and a large OTC desk. Visit our FAQs page to learn more.

Yes. After you buy Solana (SOL) on Independent Reserve in Singapore, we keep it safe for you.

We will never lend, trade, use or reinvest your assets without your knowledge.

At Independent Reserve, we take security very seriously and have the highest level of measures in place to protect our customers' cryptocurrency. Our world-class security features include two-factor authentication (2FA), ISO 27001 certification, and top-tier underground vaults. Learn more about how we treat our customer assets and our security measures.