Solana Price CAD
What is Solana?
Solana is a blockchain platform for decentralized apps. It's an open-source project maintained by the Geneva-based Solana Foundation, and built by developers at San Francisco-based Solana Labs.
Solana rivals Ethereum, the largest decentralized apps platform, by offering something that the Ethereum blockchain has been unable to deliver; faster operation and lower transaction fees.
Whereas Ethereum and Bitcoin are PoW (proof of work) blockchains, Solana is a PoS (proof of stake) blockchain, making it more environmentally friendly. The PoS protocol used by Solana is currently preferred in the cryptocurrency space.
Why? Unlike PoW where substantial energy is needed to run a blockchain, PoS makes the validator nodes on the network to stake something. In the case of Solana, the validators stake the SOL tokens. Although the validators also consume power to operate, their power consumption is much lower than that of the PoW miners.
Solana can process more than 50,000 transactions per second (TPS) making it one of the fastest programmable blockchains in the world. Comparatively, Ethereum processes only 15 to 45 TPS.
Solana’s speed and low transaction fees have attracted numerous developers to the blockchain. The platform is backed by major market players like Circle and Tether and DApps built on it already have millions of active users.
All this makes Solana is one of the most widely-used blockchains and cryptocurrencies in the world.
How to Buy Solana (SOL) in Canada
Buying Solana (SOL) in Canada as well as other digital currencies is simple and secure with Bitbuy. Here’s how it works:
- Create Your Account: When you sign up to create an account on Bitbuy, you will be asked to confirm your email address, phone number and verify your identity.
- Add Funds: Before you can buy Solana in Canada, add funds to your account directly with Interac eTransfer or Bank Wire.
- Buy and Sell Solana: Once you’ve sent money to your account, you can buy Solana instantly. Bitbuy also makes it easy to sell Solana in Canada. Exchange your Solana for CAD and withdraw the funds back into your bank account.
If at any point you need help signing up, verifying your account, adding funds, or buying and selling Solana, just get in touch with customer support for same-day assistance.
The Best Place to Buy Solana (SOL) in Canada
Bitbuy is one of the best and safest place to buy Solana (SOL) in Canada. Here is why:
Safe and Secure
Every transaction you make on Bitbuy is encrypted using SSL (Secure Socket Layer) technology with two-factor authentication solutions implemented throughout. Bitbuy operates with a 95% cold storage reserve for all digital currencies in custody and executes daily encrypted and distributed backups for disaster recovery. The core of our mission at Bitbuy is making you feel safe that your digital currency is protected!
The Lowest Fees
Bitbuy offers some of the lowest buy and sell fees available in Canada. You can check out our trading fees and processing times before you sign up.
Award-winning Customer Support
Buying cryptocurrency directly from individuals is slow and risky. Cryptocurrency exchange platforms like Bitbuy make the process faster and convenient.
Our customer support is one of the big differences between Bitbuy and other exchanges. You can talk to a real person over email or on the phone. It’s an essential part of simplifying cryptocurrency for everyone.
Interac eTransfer is the most popular way to pay online in Canada. Bitbuy exists to simplify the process when you want to buy Solana in Canada with Interac. You can use your bank account directly to fund your Bitbuy account, which you then use to buy and sell cryptocurrencies in Canada.