It is without doubt that we’re still in a crypto bear market. This is despite recent bullish sentiment, rekindled by an uptick in prices. Yet, blue chip cryptos have not returned anywhere near their All Time High (ATH) prices. This rings true for Solana as well.
As of now, it’s trading at $20.50. That’s a 92% discount from its ATH price of $259. So, if you believe $SOL can reach its former prices, then this article is for you. Today, the easiest way to get $SOL is through Centralized Exchanges (CEXs). Without delay, let us guide you through the best 3 CEXs for Solana.
CEX #1 – Binance
First of the best 3 CEXs for Solana is Binance. Binance is the leading CEX in the crypto space. Why do we say that? Well, that’s because they’ve got:
- The highest 24-hour trading volume at $6.89 billion.
- The highest monthly visits at 64.7 million.
- Transparent exchange reserves.
- A Trust Score of 9 out of 10 from Coingecko.
With the above, you can rest assured when you’re using Binance to get $SOL. It’s trustworthy and you can get accurate prices for crypto. Moreover, Binance also offers a total of 357 cryptos and 1,414 token pairs for trading. This’ll help you when you’re managing a diversified crypto portfolio.
In addition, Binance offers many other features for $SOL holders too. You can choose to trade $SOL with leverage. You can also choose to deposit your $SOL into Binance’s Earn program. Here, you can earn a return of up to 7.7% per year. That’s a pretty sweet return!
That’s enough of Binance for now! If you’re looking to use it to buy $SOL, you can refer to their handy guide here. Otherwise, it’s time to check out the next CEX.
CEX #2 – Coinbase
Next of the best 3 CEXs for Solana is Coinbase. Coinbase has been in the CEX business for a very long time. It’s got a user-friendly website and app. Hence, it’s great for beginners who’re new to crypto.
Coinbase has also proven to be trustworthy in the crypto space. Note that it’s a listed company on the NASDAQ exchange. Furthermore, Coingecko awards Coinbase a perfect 10/10 trust score too.
At the time of writing this article, Coinbase has a 24-hour trading volume of $578 million. It has a monthly visitor count of 32.7 million. For its users, Coinbase supports trading for 241 tokens and 550 trading pairs.
If you hold NFTs on the Solana blockchain, then Coinbase could be the CEX of your choice. That’s because Coinbase Wallet supports Solana’s NFTs. Furthermore, you can also perform on-chain swaps through its wallet too! More info in their tweet below.
Claim, collect, store, trade, and view your Solana NFTs. With support for NFTs on Solana, Ethereum, and Polygon, Wallet makes it easy to manage all of your collectibles in one place. pic.twitter.com/ng3Uwj166d
— Coinbase Wallet (@CoinbaseWallet) March 2, 2023
For a quick guide on how to buy $SOL on Coinbase, you can check it out here. Next, let’s move on to our final CEX choice!
CEX #3 – BingX
Last, but not least, of the best 3 CEXs for Solana is BingX. Although BingX is a CEX like the above 2 entrants, it sets itself apart by focusing on traders. To do so, BingX offers copy trading, grid trading and futures trading to its savvy users.
Currently, BingX has a 24-hour trading volume of $237 million. It supports 482 coins and 527 trading pairs. In terms of monthly visits, BingX has 8.12 million. To buy $SOL, you can sell your $USDT using its $SOL-$USDT trading pair.
BingX has a great 9/10 trust score from Coingecko too. You can rest easy knowing that it’s unlikely BingX will steal or lose your funds.
In conclusion, the best 3 CEXs for Solana are Binance, Coinbase and BingX. Each of these CEXs cater to different user bases. Binance is more for an all-round crypto investor. Coinbase suits the crypto beginner or Solana NFT enthusiast better. BingX is built for the crypto trader. Try these out to see which CEX you’d love to buy your $SOL from!
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