Where and how to buy Solana (SOL)

If you’re in a rush, here’s your espresso-shot guide to buying Solana (SOL) in four easy steps:

1. Download Phantom
2. Create a new wallet
3. Fund your wallet
4. Buy Solana (SOL)

Got a few extra minutes? This guide serves up some juicy insights to help you choose the best platform for your Solana adventures—whether you're a seasoned degen or just setting sail in the Solana seas.

Let’s dive in!

Where can I buy Solana (SOL)?

If you're looking to buy, sell, trade, and/or store SOL—the native token of the Solana network—you can take advantage of multiple options.

The most common ones, however, are centralized exchanges (CEXs) and decentralized exchanges (DEXs).

Centralized exchanges (CEXs)

If you don't have a Solana wallet such as Phantom just yet, the best place to trade SOL is either on conventional platforms, such as Robinhood, Revolut, or eToro, or CEXs, such as Binance, Coinbase, or Kraken.

• Binance is one of the biggest and most popular cryptocurrency exchanges globally. It offers a wide variety of cryptocurrencies, including Solana (SOL). Users can trade SOL against several fiat currencies (such as USD, EUR) and other cryptocurrencies (such as BTC, ETH).
• Coinbase is a US-regulated exchange renowned for its ease of use, making it an excellent choice for beginners. The platform also supports SOL trading and provides a secure environment for buying, selling, and storing cryptocurrencies.
• Kraken is another well-regarded exchange. Known for its security and comprehensive features, Kraken supports the trading of various cryptocurrencies, such as SOL, and has a user-friendly interface. Generally, the platform is suitable for both beginners and experienced traders.

Decentralized exchanges (DEXs)

If you have a crypto wallet, decentralized exchanges (DEXs), such as Raydium, Orca, and Jupiter, enable you to buy, sell, and trade Solana (SOL) as well.

• Raydium is one of the most popular Solana-native DEXs. It uses an automated market maker (AMM) model to facilitate trading. Apart from its fast and low-cost trading, it also offers yield farming opportunities for SOL and other Solana tokens.
• Similar to Raydium, Orca is an AMM-based DEX as well, designed for simplicity and efficiency. The platform offers a straightforward interface for swapping tokens, providing liquidity, and yield farming.
• As an aggregator, Jupiter pools liquidity from various Solana DEXs, such as Raydium and Orca, which ensures trading efficiency as well as optimal swap rates and minimal slippage for users. The result? Some of the most competitive token prices in the Solana ecosystem.

Having said that, the fastest and cheapest way to buy, sell, and trade SOL is with Phantom—more on this below!

How can I buy, sell, and trade Solana (SOL) with Phantom?

Phantom is your beginner-friendly pit stop for buying, selling, and trading Solana (SOL). By contrast, navigating centralized and decentralized exchanges can be confusing for beginners, with complex interfaces and more steps just to make a simple trade.

Also, while Phantom acts as your sleek, self-custodial cockpit—you’re in full control, you hold the keys, and no third party can touch your coins—centralized exchanges often take custody of your assets. This means you don’t truly control your crypto; as the saying goes: not your keys, not your coins.

If you don't have a crypto wallet, read the next chapter. If you already have a Phantom wallet, here’s how you can buy, sell, and trade Solana (SOL):

• As soon as your Phantom wallet is set up, and you access it for the first time, you’ll be welcomed by a screen with two options:
  • Buy crypto
  • Transfer crypto
• Select “Buy Crypto” then “Solana (SOL)”
• Insert the amount of SOL you want to buy
• Select “Next”
• Choose your funding option
• Finalize your order
• Once you’ve completed your purchase, your SOL will appear in your wallet

If you’re ready to explore the Solana ecosystem some more, Phantom also features a social feed—a new way to see what’s happening onchain, as it happens. Tap into the social feed to track your friends and top traders, spot whale activity in real time, and catch trending tokens before they take off.

How to set up a Phantom wallet?

We offer browser extensions for Firefox, Chrome, Brave, and Edge, as well as apps for iOS and Android.

To get started, download the Phantom browser extension or mobile app.

How to set up Phantom on mobile

• Follow the installation steps of the Phantom app on your device
• Open the app—you’ll be greeted by the Phantom onboarding screen
• Select “Create New Wallet”
• Enable biometric security and click “Next”. This secures your wallet using fingerprint or facial recognition to ensure you are the only one that can access it. We strongly recommend turning this feature on!
• You will be presented with your “Secret Recovery Phrase” (seed phrase)
• Be sure to store your Secret Recovery Phrase in a safe and secure location!
• Your Secret Recovery Phrase is the MOST important part of your new wallet:
  • Whoever has access to your Secret Recovery Phrase will have access to the wallet’s funds
  • If you lose your Secret Recovery Phrase, you will lose access to your wallet and its funds
  • We at Phantom never have access to your Secret Recovery Phrase
  • Phantom team members will never ask you for your Secret Recovery Phrase
  • The Secret Recovery Phrase is the only way to recover your wallet
• After saving your wallet password and securing your Secret Recovery Phrase, select “Continue” to proceed
• You can enable notifications to get instant updates about your wallet activity. These can also be customized in the Phantom app via Settings > Notifications
• To fund your wallet, make sure to check out our Apple Pay and Google Pay guide

How to set up Phantom on desktop

• Follow the steps in your respective extension store to add Phantom to your browser
• Open the Phantom browser extension and select “Create New Wallet”
• Key in a secure password and select “Continue”
• You will be presented with your “Secret Recovery Phrase” (seed phrase)
• Be sure to store your Secret Recovery Phrase in a safe and secure location!
• Your Secret Recovery Phrase is the MOST important part of your new wallet:
  • Whoever has access to your Secret Recovery Phrase will have access to the wallet’s funds
  • If you lose your Secret Recovery Phrase, you will lose access to your wallet and its funds
  • We at Phantom never have access to your Secret Recovery Phrase
  • Phantom team members will never ask you for your Secret Recovery Phrase
  • The Secret Recovery Phrase is the only way to recover your wallet
• After saving your wallet password and securing your Secret Recovery Phrase, select “Continue” to proceed
• After successfully setting up your Phantom wallet, you can access it on the top right-hand side of your browser's toolbar
• Don’t see Phantom? Click the icon that looks like a puzzle piece to access a list of your browser’s extensions, where you will find Phantom
• Click on the pin icon next to Phantom to make the wallet visible in your browser's toolbar and easier to find in the future
• To fund your wallet, make sure to check out our Apple Pay and Google Pay guide

How to share Solana (SOL) with friends and family

Know someone who might be interested in Solana (SOL)? You can share a simple token page with them so they can get involved.

Here's how:

• Open Phantom
• Search for e.g. “SOL” and select the token
• Click the “Share” button
• Copy the link
• Send the link through your preferred app, such as iMessage, Telegram, Instagram, or others

When you share this link, the recipient will receive the official SOL token page from Phantom.

How to bridge tokens to Solana with Phantom?

If you’d like to bridge funds to Solana, use our very own Crosschain Swapper! With our Crosschain Swapper, you can bridge tokens across Solana, Ethereum, Base, and Sui right in your Phantom wallet.

For more on how to bridge to Solana, read our ETH to SOL bridging guide.

Disclaimer: This guide is strictly for educational purposes only and doesn’t constitute financial or legal advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.