- Solana is a third generation cryptocurrency renowned for its speed.
- Solana's token, SOL, has experienced strong growth in value.
- Get details on exchanges where you can quickly and safely buy Solana.
Get a step-by-step guide through the process of buying Solana from Canada.
In this guide
Where to buy Solana
On website
Highlights
- Get a $40 bonus when you sign up via Finty.
- CAD deposits are free, and you can withdraw via Interac e‑Transfer without paying extra.
- Choose between Express trades for speed or Pro trades with lower fees and more control.
- Regulated in Canada, Bitbuy is registered with the OSC and FINTRAC — making it one of the more trusted local platforms.
Pros
Cons
On website
Highlights
- Get $10 when you sign up and deposit at least $100 into your account.
- Quick deposits and withdrawals via Interac e-Transfer and wire.
- Low flat trading fee of 0.20% across all pairs, making costs predictable.
- Built for Canadians, with CAD support and compliance with Canadian banking standards.
- Advanced trading features like limit orders, recurring buys, and real-time charting for more control.
Pros
Cons
On website
Highlights
- Register in just 60 seconds and start investing with as little as $50.
- No CAD deposit and withdrawal fees.
- Coinberry is insured, FINTRAC registered & PIPEDA compliant and is the only digital asset platform trusted by Canadian Government municipalities.
Pros
Cons
Not available for application via this website
Crypto.com
Highlights
- Trade 250+ cryptocurrencies with CAD support, including Bitcoin, Ethereum, and altcoins.
- Use the Crypto.com Visa Card to spend your crypto anywhere Visa is accepted, with tiered cashback and perks.
- The mobile app offers everything in one place: buy, sell, stake, track, and earn.
- Strong security setup with cold storage, multi-factor authentication, and real-time monitoring.
Pros
Cons
On website
Finty may be compensated when you click on the link.
Highlights
- Buy, sell, and hold over 250 cryptocurrencies in a beginner-friendly interface.
- Regulated and publicly listed in the US, offering peace of mind on security and transparency.
- Auto-invest lets you set recurring buys for dollar-cost averaging.
- Coinbase Wallet is available for those who want full control of their crypto and NFTs
Pros
Cons
Not available for application via this website
Wealthsimple Crypto
Highlights
- Buy and sell over 50 cryptocurrencies directly from a user-friendly app.
- Regulated by the Canadian Securities Administrators (CSA) — custodial assets held with Gemini.
- Zero deposit and withdrawal fees for CAD funding via Interac e-Transfer or bank transfer.
- Seamlessly integrated into Wealthsimple’s suite of financial tools including investing, savings, and tax filing.
Pros
Cons
Step 1: Choose an exchange where you can buy Solana
Solana is listed on a growing number of crypto exchanges, which is probably the easiest way to buy the token. When comparing exchanges, consider what fees are charged for trades (maker and taker, or a spread), if there is a fee to deposit fiat currency, what order types are available, etc.
Step 2: Get verified
When you open an account on a crypto exchange, you will be asked to provide some personal details such as your name, phone number, email address, etc.
You will then be required to verify your identity for tax purposes. You can authenticate your identity using a valid form of photo ID like your driver’s licence or passport. The verification process takes approximately five minutes. Once your identity has been verified, you can fund your account and start trading.
Step 3: Set a budget
You should only ever invest what you can afford to lose, especially with something as volatile as crypto.
Step 4: Fund your account
You can fund your exchange account with fiat (CAD) transferred from a bank account, debit or credit card. Interac e-Transfer and PayPal may also be accepted. If you use a debit or credit card to deposit funds in your account, you will probably have to pay a transaction fee. If you already have an account on a crypto exchange, you can trade stablecoins and other crypto tokens for SOL.
Note that some exchanges only support crypto-to-crypto purchases.
Step 5: Buy Solana
Use a market order if you want to buy Solana as quickly as possible and don’t mind slippage in the price you pay. At most exchanges it’s also possible to configure an order that will be automatically executed when Solana hits a certain target price.
Depending on the exchange you are using, you may have the option of setting up a recurring order which automatically buys more Solana, for example, every week or month so you can take advantage of dollar cost averaging over time.
Where to store your Solana
For easy access to your SOL tokens, store them in the hot wallet at the exchange where you bought them. You can always transfer them out to a hot wallet you control at a different exchange at a later date. Keep in mind that hot wallets, being connected to the internet, are the less secure option and are vulnerable to hacking, theft, and malware.
Cold wallets are specially designed devices that are not connected to the internet. They are the safer way to store your SOL tokens.
