How to Buy, Sell and Trade Solana SOL on Obiex

What is Solana (SOL)?

Solana is the native cryptocurrency of the Solana blockchain platform, which hosts decentralised applications (dApps).

It is run by the Solana Foundation, which is based in Geneva. Compared to blockchains like Ethereum, Solana processes transactions faster and has considerably lower transaction fees.

The price of SOL increased by nearly 12,000% in 2021 and even hit a market capitalisation of over $66 billion. However, the 2022 crypto winter sent SOL crashing, and by the last quarter of 2022, its market capitalisation had dropped to about $11.71 billion.

SOL Market Cap and Price

SOL has a current market capitalisation of $8B and a circulating supply of 400,054,674.43 SOL. The current price of SOL is $20.17

How to Buy SOL on Obiex Using Naira

1. Log in to your Obiex account using your registered email address and password. If you don’t have an obiex account, click here to create one in less than 2 minutes.
   
2. Select the “Buy/Sell” button in the top middle of your screen (for mobile app) or the Top right corner of your screen (for Web).
   
3. Tap and select NGNX from the "from" coin list.
   
4. Select SOL from the "select coin" list.
   
5. Enter the amount of naira you want to buy SOL with.
   
6. Tap “Get Quote” to see the exchange rate and amount of SOL you’re buying.
   
7. Tap “swap” to confirm the transaction.
   
8. You now have SOL in your Obiex Wallet.
   
   

How to Swap SOL to Naira NGNX on Obiex

1. Log in to your Obiex account using your registered email address and password.
   
2. Select “Wallet” and tap SOL, then select Swap.
   
3. Select NGNX from the "select coin" list.
   
4. Enter the amount of naira you want to swap SOL to.
   
5. Tap “Get Quote” to see the exchange rate and amount of Naira you’re swapping.
   
6. Tap “swap” to confirm the transaction.
   
7. You now have Naira in your Obiex Wallet.
   
   

How to Deposit SOL on Obiex

1. Log in to your Obiex account using your registered email address and password.
   
2. Select the “Deposit” button on the top left of your screen (for mobile app) or the Top right corner of your screen (for Web).
   
3. Select SOL from the list of crypto assets.
   
4. Select a network deposit address. Obiex supports the Solana deposit network.
   
5. Scan the code to deposit SOL, or copy the wallet address to make your deposit.
   
6. You will receive a notification once the SOL is successfully deposited in your wallet.
   
   

How to Withdraw SOL on Obiex

1. Log in to your Obiex account using your registered email address and password.
   
2. Select the “Withdraw” button on the top second left of your screen (for mobile app) or the Top right corner of your screen (for Web).
   
3. SelectSOL from the list of crypto assets.
   
4. Choose from the three withdrawal methods: Send to Obiex user, Send to multiple users or Withdraw to an external wallet.
   
5. If you choose to send to an Obiex user, type in their username, SOL amount, and the reason for transfer (this is optional) and tap send to the user.
   
6. If you choose to send to multiple Obiex users, type in their usernames and the SOL amount for each user and tap send.
   
7. If you select withdraw to an external wallet, paste the wallet address or select a wallet address from your saved address list.  Choose the network (Solana) you want to use, type the amount of SOL you want to send, and the reason for the transfer (this is optional).
   
8. Tap withdraw, and your transaction is now complete.
   

How To Swap SOL to Other Cryptocurrencies on Obiex

1. Log in to your Obiex account using your registered email address and password.
   
2. Tap the swap button at the bottom middle of your screen.
   
3. Select SOL from the "from" coin list.
   
4. Select BTC, ETH, USD, USDC, BUSD or any other crypto from the "select coin" list.
   
5. Select and confirm the coin amount you want to exchange.
   
6. The swapped amount of the selected coin is now in your wallet.
   

How To Swap Other Cryptocurrencies To SOL on Obiex

1. Log in to your Obiex account using your registered email address and password.
   
2. Tap the swap button at the bottom middle of your screen.
   
3. Select BTC, USDT, BNB, BCH, LTC, ETH or any other crypto from the "from" coin list.
   
4. Select SOL from the "select coin" list.
   
5. Select and confirm the coin amount you want to exchange.
   
6. The swapped amount of SOL is now in your obiex wallet.