Bitcoin and Ethereum thought they could run the show forever.
But with crypto coins like Solana, this will never be possible.
Bitcoin processes 4.6 transactions per second as compared to 15 for Ethereum. Solana crypto, however, processes 65,000 transactions per second. Do you want to guess the best part? The fees after processing thousands of transactions are still lower than both Bitcoin and Ethereum.
So, tell me, why would you not want to invest in Solana crypto?
What is the Solana crypto coin?
The SOL coin is the native currency of the Solana ecosystem. There is a maximum supply of 511.6 million SOL coins. According to coinmarketcap, 333.43 million coins are in circulation. Similarly, if the circulation reaches maximum supply, we will see the price escalate.
SOL cryptocurrency coin live price today as of 22nd April 2022:
8750 INR – SOLprice in INR
110 USD – SOLprice in USD
Why should I buy the Solana crypto coin?
Here are a few reasons you must consider investing in the SOL coin.
1. Faster transactions per second and lowest gas fees.
2. The coin is barely INR 8750 as compared to INR 240,000 Ethereum. The scope of price growth is pretty clear.
3. Multiple businesses, brands, developers, and Banks work in the Solana ecosystem.
4. Finally, for a coin that pumped over 14,000% in 2021, there is tremendous scope for this coin to boost again.
What is the use of the Solana crypto coin?
Here are a few use cases of this coin that regular investors must know.
1. Paying the lowest fees for transactions on the network.
2. Stake SOL coins on different platforms to earn interest.
3. Mint, create, trade, and sell NFTs.
4. Create dApps, launch blockchains, and become node validators and delegators.
How to buy the Solana crypto coin in India?
There are many cryptocurrency apps in the market where you can purchase the SOL coin. However, I believe the best cryptocurrency apps in India are these two platforms that I have been using – Binance and WazirX.
I have read good Binance reviews from customers in India and abroad. Both Binance India and Wazir X are easy-to-use platforms, and I have never faced problems while depositing or withdrawing money.
Here are the basic steps you must follow on each cryptocurrency app.
1. Sign up
2. Add a Bank account
3. KYC verification
4. Deposit INR/USD in your wallet.
5. Start trading
SOL crypto price prediction:
In 2021, the SOL coin grew from 140 INR to 19750 INR, a whopping 14,000% increase. If you invested INR 14000 and bought 100 SOL coins, their value during that year would be INR 1,975,000.
In 2022, the cryptocurrency market is going through a bear phase. The SOL coin price now stands at INR 8750 today. Hence, price predictions for this are very promising. If you believe in the future of the Solana ecosystem, it can end the year between INR 17000 – INR 22000 (100 – 150% growth.)
FAQs:
1. Is cryptocurrency legal in India?
Yes, cryptocurrency is legal in India. From 1st April 2022, if you buy any digital currency, you will incur a 30% + 1% TDS cryptocurrency tax in India.
2. Can the SOL coin be converted to cash in India?
Yes. You can buy the SOL crypto coin on multiple currency exchange platforms in India. These platforms support buying the Solana coin in INR.
3. Is Solana crypto a good investment?
Yes. With faster transactions per second, low gas fees, support for multiple decentralized apps, and NFTs, this will be a brilliant investment until 2025.
4. Which is the best research tool for cryptocurrency online trading?
I am a diehard Token Metrics fan. Their ratings and analysis allowed me to uncover hidden crypto gems. For any newbie or experienced professional, having Token Metrics is the best thing possible. If you sign up using my special link, you will get a LIFETIME discount of 10% on all plans.
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