Wednesday, May 29, 2024

How to Buy And Sell Solana On Binance (Step-by-Step Method)

Solana is a public blockchain platform. Its native cryptocurrency is SOL.

Solana achieves consensus using a proof-of-stake mechanism, as well as a “proof-of-history” mechanism which Solana’s whitepaper claims improves scalability without sacrificing decentralization and security

Solana can purportedly handle 50,000 transactions per second, which is faster than the Ethereum blockchain.

In this post, we are going to learn how to buy Solana through Binance exchange via peer2peer method

If you missed our article, on how to signup and verify your binance account you may want to check that out and go through the process before continuing with this step

Also, learn to use this article to purchase USDT via p2p with your fiat currency through Mobile Money as we will be swapping it for some Dogecoin

If you already have a verified Binance account, you may continue with the rest of the steps below

STEP 1

Log in to the Binance app, and switch to Binance pro

STEP 2

Now move to the Trades tab and at the upper left Corner hit on Convert

STEP 3

Here you will be presented with an option to convert one crypto to another, eg from USDT to SOL

STEP 4

Choose your currency pair, preview the exchange rate and hit convert within 5 secs to confirm

Congratulations your conversion was successful, you can go back to your wallet and see your converted coin

To sell Solana back to USDT, simply reverse the order and switch the Solana back to USDT

Now that you have your USDT, you read our article on how to withdraw crypto directly to your Momo wallet or transfer it to another crypto account

YOU MAY ALSO LIKE  How to Withdraw CryptoCurrency from one Binance Wallet to another

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