Despite the govt reluctance and lack of regulations to standardize the cryptocurrency sector in India, investors have been warming up to it. With time a number of India specific crypto currencies and crypto exchanges have popped up. Solana is among the top ones and it made headlines by overtaking Ethereum recently. Are you interested in buying Solana? Great, we are going to share some vital information with you on how to buy Solana in India. Let us get started.
Steps on how you can purchase Solana in India
As is the case with other crypto currencies in India, you have to use a crypto exchange that supports the token. The major ones are described below:
How to buy Solana in India using Binance
If you are looking for a big platform to buy Solana then it is Binance without any hesitation. The biggest plus point is that it is very transparent. It is very similar to a situation when you trade with normal currency and you have to pay a nominal fee, Binance gives you very good rates. Once you buy Solana you have the liberty to forward them into an online wallet or keep them online.
While buying Solana from India using Binance exchange is certainly possible, the thing is you cannot deposit INR in its wallet directly. There are a few workarounds, for sure.
You can deposit money in Binance through various supported payment options and Binance P2P. You may also use WazirX to link to your Binance account and then deposit INR on WazirX and buy USDT. Next, you can use a single click transfer to move the USDT amount to Binance. After checking the USDT deposits in the Binance wallet, you can purchase Solana coin through the Binance exchange.
- Go to the official website of Binance Exchange and open an account.
- You will then have to provide your email and a password with good security.
- Then you will get a verification link in your email. You will need to visit the link to verify the authenticity of your email.
- After all the steps are completed you are now ready to use your account.
- Load the wallet using the aforementioned methods.
- Now, find the SOL/USDT option. Then tap on the buy option.
- Search for Solana and place the order. Of course, you have to specify the amount.
If you want to use an Indian crypto exchange or platform to buy Solana coin, there are contenders like WazirX and CoinDCX.
How to buy Solana in India using WazirX
If you want to purchase Solana Coin with INR, it is advisable that you use WazirX, a well known Crypto exchange.
- Download the WazirX App and then sign up.
- After signing up and wrapping the KYC verification, log into your account.
- Click on the “Funds” icon and next choose the option Deposit.
- Select the option INR and choose a desired amount.
- P2p and IMPS modes are there for making payment. Choose anyone.
- The deposited amount should reflect in your WazirX wallet now.
- Now search for SOL. To trade Sol coin, you have to buy USDT.
- Then, move to Exchange tab and find USDT/INR. Tap on it to open the USDT/INR page.
- Now, tap on the center Crown icon and mention the price and USDT amount.
- Tap of buy and the process of buying SOL coin using WazirX exchange is wrapped.
Buying Solana in India using CoinDCX
CoinDCX is another popular Indian crypto exchange supporting Solana. To buy Solana using CoinDCX, follow these steps:
- At first, you have to sign up on the CoinDCX Exchange. Usual KYC verification also has to be done.
- Then you will have to Load INR in the CoinDCX wallet.
- After depositing INR in the CoinDCX wallet, you can purchase the SOL coin. Use the SOL/USDT pair.
- Open the USDT window to place your order for buying USDT using INR.
- Then look for SOL and find the SOL/USDT pair.
- Then tap on Buy button to place the order. The process is same for the CoinDCX website and app.
How much to buy
The best part about cryptocurrencies is that you can purchase a tiny piece. So, you will have the chance to own a portion of Solana and you can either utilize it or hang on to it. It would be wise to give it a go with little funds. Once you get into the habit you can then go for hefty transactions.
You can smartly tackle this by creating more than one account at the same time. The user’s demands are going up and in this case, you must aim for a quick trade. So, it would be wise to have more than one account via different exchanges.
Payment methods used to buy Solana
Now if you are going to use Binance to purchase Solana you will have access to more than 100 payments to pay money and buy Solana. You have the option of selecting the currency of your choice. You will have access to the usual online payment options like PayPal, Bank Transfer, and Credit Card.
Wrapping it up
Before you start investing in Solana you must research it and find out all you can. Find out more about the technology that fuels the coin and the team involved with it. Keep in mind that trading in any crypto currency involves some amount of volatility and there are risk factors. As mentioned earlier, you must create more than one account to trade Solana without hassles. In this way, you can stay ahead of the rest.