Thread by @chriscantino

1/ How (and why) to buy your first $SOL in ten minutes—even if you’re skeptical. 🧵

2/ Buying Solana is easier and more secure than it seems. I’ll walk you through with clarity.

3/ It’s OK to be skeptical. Think of it like this.

Potential downside: you lose money (I’ll advise you to only buy a SMALL amount at first)
Potential upside: your investment accrues

What’s guaranteed: skin in the game, and learning about this incredibly promising technology.

4/ To be clear, SOL is not about to overtake ETH. But ETH’s popularity has resulted in prohibitive gas fees—and an opportunity for Solana.

Put simply, there is room for a robust multi-chain ecosystem. It’s why $SOL is making a play to become the third largest coin by market cap.

5/ This is not investment advice. 🙅

$SOL has already surged to over 100x of its price from one year ago.

Does it have room to grow? Certainly—it’s currently at 13% of ETH’s market cap. Has it already topped? It’s entirely possible.

In either case, there will be volatility.

6/ Solana has its advantages.

-gas fees are a fraction of a cent
-network is relatively uncongested (FOR NOW)
-NFT marketplaces are growing fast (e.g. @MagicEden_NFT doing over $40M volume/week)
-The $SOL dev ecosystem is a beast, and has received billions in VC funding

7/ OK, here’s how you buy $SOL.

The easiest way IMO is to go with the market leader: Coinbase.

Download the app and set up your account: coinbase.com/mobile

You’ll verify your email, phone number, and identity, then link your payment method.

8/ Sweet. Now you’re in.

Tap the blue exchange button in the middle.

Then, tap “Buy crypto with cash.”

9/ Search “Solana.”

Here, we see the current price: $249.30 USD.

Tap it.

10/ Here, we choose how much to buy.

First time? De-risk by purchasing a minimal amount. Afterwards, you can learn and gain confidence by watching the price.

Note: Tap the ⇵ arrows to view your order in quantities of either USD or SOL.

Tap in your order, then “Preview Buy.”

11/ Final checkout screen.

Always review your transactions. It’s very easy to mistakenly purchase more than you intended.

Also, note that Coinbase takes a transaction fee. In this case, about 1.5%.

Ready? Tap “Buy Now.”

12/ Congratulations!

You just bought your first $SOL.

🎉🎉🎉

13/ If you’re interested in exposure to other assets that support a multi-chain ecosystem, you can research $ATOM, $DOT, $XTZ, $MATIC, $AVAX, and more.

Btw, if you want to buy NFTs on Solana, you’ll need a wallet. My fave is @phantom.

Here’s more on the $SOL NFT market. 👇

https://twitter.com/chriscantino/status/1454549599473967106

14/ Thx for reading. For more content on Solana, NFTs, and crypto in general, follow @chriscantino.

And if you bought your first $SOL thx to this thread—let me know!