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sol
Solana (SOL) is a high-performance, decentralized, third-generation layer-1 blockchain designed to support smart contracts, decentralized applications (dApps), non-fungible tokens (NFTs), and decentralized finance (DeFi) solutions with speed and efficiency.
This coin is available on Newton.
Known for its exceptional scalability and low transaction costs, Solana leverages a hybrid consensus model combining Proof of History (PoH) and Proof of Stake (PoS) mechanisms. This unique structure allows the network to process thousands of transactions per second with minimal latency and fees.
SOL, its native cryptocurrency, powers transactions and network operations.
Solana operates as a decentralized blockchain network that combines multiple technologies to achieve its operation:
Solana utilizes two main consensus mechanisms working together:
The system achieves its speed through:
Validators play an important role in maintaining Solana's operations by:
Solana Labs is responsible for developing the core technology behind the Solana blockchain. The Solana Foundation focuses on supporting community growth, adoption, and ecosystem development.
Yes, you can legally buy, hold and sell SOL in Canada through crypto platforms like Newton.
You can buy as much Solana as your funded account balance allows. There is no set maximum, and you can start with as little as $10 CAD for funding.
While we don't accept physical cash, you can fund your Newton account via Interac e-Transfer or wire transfer from your bank account and use those funds to buy Solana (SOL) instantly.
Solana (SOL) is a versatile cryptocurrency with diverse applications across finance, gaming, and blockchain development. Users can store SOL securely in their Newton account or a personal wallet, trade it to seize market opportunities, or stake SOL to earn rewards while supporting network security. Solana’s fast and low-cost transactions make it an ideal platform for DeFi, enabling users to lend, borrow, trade, and yield farm with minimal fees. Additionally, its NFT ecosystem allows creators and collectors to buy, sell, and explore digital art on Solana-based marketplaces.
Beyond trading and finance, Solana powers gaming and Web3 applications, providing seamless in-game transactions and decentralized ownership of digital assets. Its fast transfers ensure near-instant settlements at low costs, while developers can leverage Solana’s scalable infrastructure to build and deploy dApps and smart contracts. SOL also plays a role in community governance, allowing users to participate in DAOs and influence project decisions. Whether swapping tokens, donating to causes, or joining the growing Solana community, SOL offers a wide range of utilities for blockchain enthusiasts and developers alike.
Developed by Anatoly Yakovenko and Greg Fitzgerald, Solana launched in 2020 with a focus on solving blockchain's scalability challenges. The platform quickly gained attention for its innovative approach and has grown into one of the largest blockchain networks by market capitalization. Often referred to as an “Ethereum killer”.
Trading fees for Solana are included in the spread and displayed before you confirm each trade. For the latest and most accurate fee information, please visit Newton’s Fees page.
The main benefit of Solana lies in its ability to provide a high-speed, low-cost blockchain platform that supports scalable decentralized applications (dApps) and crypto projects, with the capability to process up to 65,000 transactions per second (TPS) and transaction fees that are only fractions of a cent.
You can stake SOL through compatible wallets (connected to a validator node) or through Newton's staking service. The process requires a minimum of $10 CAD equivalent. Staking fees are 15% of rewards (plus MEV rewards).
Safely keep SOL in your Newton account or transfer it to a personal wallet for added security.
Stake SOL to earn rewards while supporting the security and operation of the Solana network.
Create, buy, and sell digital collectibles or explore Solana’s fast-growing NFT marketplaces
Buy, sell, or swap SOL efficiently to respond to market opportunities or diversify your portfolio.
Use SOL to support causes that accept cryptocurrency donations.
Access decentralized financial services on Solana-based platforms, including lending, borrowing, trading, and yield farming with minimal fees.
*Newton does not currently support staking, governance, interest-earning, or other utility functions, where applicable, for this asset.
These involve person-to-person trades where you buy Solana directly from another individual, often through peer-to-peer platforms or local community networks. While possible, this method often carries security and trust challenges.
These involve person-to-person trades where you buy Solana directly from another individual, often through peer-to-peer platforms or local community networks. While possible, this method often carries security and trust challenges.
Trading fees are included in the transaction total and displayed before you finalize your trade, so you always know what you’ll pay. For the most current information on Solana fees, please visit Newton’s Fees page.
Newton prioritizes user security with new device registration, login history monitoring, anti-phishing protection, multi-factor authentication, and institutional-grade custody, storing most assets in insured cold storage.
Newton makes it affordable to buy and sell Solana, with a 1.25% - 1.45% fee. For more information about fees, see our Prices page. Newton covers up to $5 of network fees on your first daily withdrawal. For additional withdrawals, or if network fees exceed $5, the estimated network fee is confirmed prior to withdrawal.
Newton’s intuitive app and web platform let you trade Solana effortlessly on any device. Available on web, iOS, and Android devices.
Registered with the OSC and compliant with Canadian Securities Administrators (CSA) regulations.
As a Canadian-based platform, Newton provides a secure and reliable environment for Canadians to trade SOL and other cryptocurrencies. Newton’s emphasis on security and ease of use makes it a trusted platform for cryptocurrency trading in Canada.
Visit Newton's signup page or download the app (available on iOS and Android) to create your account. Complete the quick and secure verification process using your government-issued ID to unlock full access to the platform.
Deposit funds into your Newton account using one of the following methods:
Interac e-Transfer: A fast and convenient way to fund your account, with deposits typically processed instantly or within 2 hours.
Wire Transfer: Suitable for larger transactions. Wire transfers may take up to 3 business days to process.
Once your funds are deposited, you can start trading Solana and other cryptocurrencies.
Navigate to the trading section to begin.
Choose Solana (SOL) from the list of available cryptocurrencies.
Enter how much Solana you want to purchase in either Canadian dollars (CAD) or Solana (SOL) amount. You'll see all fees and the exchange rate before confirming your trade.
Confirm your trade details to complete the transaction. Solana will appear in your Newton account shortly after.
You can also transfer your Solana tokens to an external wallet. These include hardware wallets, which are physical devices that store your SOL offline, and software wallets, which are digital applications(desktop, mobile, or web-based applications) for storing and managing your Solana.
Newton provides secure, institutional-grade custody for your Solana. Most assets are stored offline in cold storage to protect against potential risks, with insurance coverage for additional security. Our platform makes it easy to manage your SOL while maintaining professional-grade protection.
Your security is important. Newton is committed to being a leader in compliance, security, and technical protocols.
For additional information and to review the risks associated with Solana, please see our Asset Statement.
