What are Solana and SOL?
Solana is a high-performance network that enables fast, affordable digital transactions. It powers applications across payments, games, digital art and financial services.
SOL is Solana's native currency. On the Solana network, SOL is used to pay transaction fees, so it's the asset you're choosing when you trade Solana.
How to trade SOL in Australia
The basic steps in the Crypto.com App are:
- Download the Crypto.com App and complete identity verification.
- Fund your account with Australian dollars (AUD) or transfer existing crypto into your account.
- Head to the trading interface, select Solana, choose your trading pair and confirm your transaction.
You can fund your account for free using PayID, or pay with a debit or credit card (Visa or Mastercard), Apple Pay or Google Pay.
Trading Solana can involve exchanging fiat currency or another digital asset for Solana. It can also involve converting Solana into fiat or another token.
Can you trade SOL around the clock?
Yes. Cryptocurrency markets run 24 hours a day, seven days a week, so SOL price movements can happen outside traditional market hours.
In the App, you can track real-time price movements and place orders whenever you choose to trade Solana. Crypto assets are inherently volatile, and the value of your holdings can go up or down.
What should you check before confirming a SOL trade?
Before you confirm, review the order details, including the current fee schedule and spread shown in the App.
If you transfer crypto into the App to fund the trade, make sure the token and chain are supported and the receiving address is correct. Trying to deposit a non-supported token may result in the loss of tokens. Deposits through unsupported chains cannot be credited or refunded.
