Solana (SOL) has become one of the go-to smart contracts platforms because of its efficient scaling network.
This is one of the reasons why hundreds of developers have taken to the platform to create decentralized applications.
The resultant effect of this is a positive reflection on its novel token, SOL, which is one of the most demanded cryptocurrencies in the crypto sphere.
Since the crypto market continues to enjoy a rallying of prices in 2022, many traders continue to pour billions of dollars into more than 17,000 coins daily.
With an eye on finding the next golden goose, unsophisticated investors with less money to risk continue to ask questions. Among others, the most trending question which fits the demands of low-income investors is what might happen if you invest $100 in Solana (SOL) today?
If you invest $100 in Solana (SOL) today and the value of the token increases due to increased demand by investors, say up to $380, you stand a chance of making a profit of $280.
The profit is properly termed capital or portfolio gains since Solana is categorized as crypto which falls under digital financial assets.
Since the cryptocurrency market is a highly volatile one, your investments can take a nosedive.
If the value of Solana drops to new high lows due to a bearish outlook on the market which results in huge selling, to let’s say $2, you stand a chance of making a loss of $98.
However, in the world of investing $100 in Solana (SOL) and crypto investing as a whole, you can only see profits or losses if you decide to sell your holdings.
Because it is only at the point of selling that you get to know the actual costs of processing transactions.
Therefore, you may incur deep losses or strong gains depending on the costs of the transaction.
To learn more about the Solana project, Trading Education has several articles written by experts dedicated to the protocol.
This will help you learn how you can invest in Solana (SOL). Follow this article in its entirety to get to know how much investing $100 in Solana can bring you.
Contents:
If You Invest $100 In Solana (SOL) Today, What Happens?
Can I Invest $100 In Solana (SOL)?
What Makes Solana (SOL) So Valuable?
How To Invest $100 In Solana (SOL)
Will Investing $100 In Solana (SOL) Make You A Millionaire?
What To Consider When Investing $100 In Solana?
Should You Invest In Solana (SOL)?
If You Invest $100 In Solana (SOL) Today, What Happens?
The price of Solana (SOL) has been soaring since the early days of the year when it opened at $1.51 on 1st January 2021.
Several analysts and experts continue to make forecasts that Bitcoin (BTC) will rally to $100,000 by the end of 2022 or the year’s end of 2023.
Since alternate coins (altcoins) follow the parent crypto in bullish days and bearish seasons, there is a huge chance that SOL will also spike in prices during the same period.
Therefore, there are great possibilities of seeing more than 100% returns in the short term and 1,000% returns in the long term, if you were to invest $100 in Solana today.
By the end of 2021, the value of Solana increased significantly. Statistically, SOL has returned 43,519.63% for traders and investors who believed in the potential of the Ethereum Killer right from its inception as a tradable token on 10th April 2020.
This has taken the market capitalization of Solana from a few million to more than $30 billion.
With several use cases, the value of Solana is going to soar even higher. In the long term, this will translate to higher returns for investors.
Moreover, Solana continues to enjoy the support of cryptocurrency exchanges such as FTX, Bilaxy, Coinbase, Huobi Global, Binance, and eToro.
These exchanges are among the largest exchanges by volume. Therefore listing SOL makes it highly accessible to millions of traders and investors.
Aside from these, the valuation of the cryptocurrency continues to benefit from innovations in the Solana ecosystem.
In all, there are more than 500 projects on Solana which range from automated market makers, gaming, government, investment fund, Oracle, stablecoin, exchanges, and decentralized finance applications.
Unlike several smart contract blockchain technologies that joined the space without enough DAPPs to support its token, SOL sees huge liquidity from the usage of these applications.
This is the reason why analysts at Digital Coin Price, Wallet Investor, and Coin Price Forecast think Solana (SOL) is one of the smart contracts-backed tokens that could explode in the future.
According to the analysts, price drivers such as extensive adoption of the Solana ecosystem, the utility of the SOL token, global economic recovery, and a bullish engulfing could propel the cryptocurrency to an average price of $356.61 by the end of 2022. In addition to this, the analysts estimate SOL could trade for a coin at average prices of $953.98 and $1,616.31 by the year’s end of 2024 and 2026 respectively.
This means that investing $100 in Solana today could see you get more than 100% returns in the near term, 1,000% returns in the medium term, and 3,000% returns in the long term.
But you might wonder, can you really invest $100 in Solana (SOL)? Let’s find out.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Can I Invest $100 In Solana (SOL)?
You can invest as little as $100 in Solana.
Since cryptocurrencies thrive on the feature of divisibility brought forth by Satoshi Nakamoto’s BTC, Solana can be divided into eight (8) decimal points.
In the event you are unable to purchase a whole coin, you can buy Solana fractions of up to $100.
In fact, you can buy 1.04329681 SOL tokens worth a $100 investment.
If you decide to hold onto your SOL tokens for the long term and new price milestones are tested someday, you could join the ranks of people whose standard of living improved, thanks to crypto.
But, before you invest in Solana (SOL) with $100 or the worth of your investment budget, let us discuss what Solana is. This will embolden you to decide on the coin with $100 or more.
What Is Solana?
Solana is a highly functional open source project that relies on the permissionless nature of blockchain technology to provide decentralized finance solutions.
As one of the most popular smart contracts blockchains in the space, Solana has contributed immensely to improving the scalability problems earlier associated with blockchain technologies. Using a combination of proof-of-stake (POS) and proof-of-history (POH), Solana processes thousands of transactions.
Ranked as a top 10 digital asset, only the likes of Bitcoin, Ethereum, Cardano, and Binance among others are ahead of this innovative technology.
Launched in March 2020 after it began in 2017 by Anatoly Yakovenko, Solana comprises three (3) entities that ensure its efficiency and survival in a very competitive market.
They are the Solana Network, its cryptocurrency SOL, and the Solana Foundation (which sees the continuous development of the project and updates fans of the project periodically on social media).
After appearing on cryptocurrency exchanges on 10th April 2020, SOL had an infinitesimal value of $0.832.
It has since gone on to reach a new all-time high of $260.06 on 6th November 2021.
Before you buy SOL on centralized exchanges such as eToro and Binance as well as on Skrill (part of their crypto package), per regulations, you are required to register for an account.
This process ultimately leads you to create private keys (passwords) to store your SOL holdings. On such platforms, the passwords can be set for you or can be modified by you (an example is Rap1998%).
Despite the efforts of the aforementioned platforms in protecting your account with multi-factor authentications, thousands of people believe SOL and other coins can be stored in another proper way in the form of wallets.
They include but are not limited to, Ledger Nano X, Math Wallet, Exodus Wallet, Trust Wallet, and Prokey.
Fortunately, on centralized exchanges and Skrill, if you lose access to your account because you have forgotten your password, there are multiple ways of restoring your account.
Firstly, links are normally sent to a registered email address associated with the account.
Secondly, pin codes are normally sent to a verified phone number associated with the account. You can follow the processes involved and regain access to your account.
Unfortunately, on Trust Wallet and co, there is little chance of accessing your account once passcodes are lost.
Therefore, as an e-learning organization, we would advise you to write your passcodes generated for you in different notepads in addition to your password.
Should you be locked out of your account, you would have multiple ways of locating your passcodes and regaining access to your wallet.
The creation, trading, distribution, and storage of digital currencies including Solana (SOL) use a decentralized ledger system called a blockchain. Payments are primarily facilitated through peer-to-peer (P2P) technology.
In meeting the modern standards of the crypto world through decentralized finance, the Solana ecosystem relies on upgrades and the utility of applications housed on it.
What’s more, in a study conducted by FTX and Alameda Research, Solana was chosen as the best smart contracts chain when speed was considered.
This is why the Solana Network processes approximately 65,000 transactions per second.
To illustrate how Solana (SOL) works as a financial instrument, let us take a look at how much you could have made in gains should you have purchased SOL in the early days of 2021.
For instance, if you invested $100 when SOL traded for a coin at $1.51 on 1st January 2021, you could have purchased 66.22516556 SOLs.
If you held onto the coins when SOL reached its all-time high in November, the value of your $100 holdings would have been worth $17,217.2.
This is a 17,217.2% increase on your $100 investment capital.
Don't Miss: Is It Worth Investing In Solana?
What Makes Solana (SOL) So Valuable?
Solana, like all digital coins, holds no intrinsic value.
To put it simply, Solana, like all cryptocurrencies are not backed by physical assets such as gold and silver or commodities like natural gas and corn, among others.
The success of Solana (SOL) as a digital currency stems from its ability to have these features (divisibility, counterfeitability, durability, scarcity, utility, and transportability).
The value of SOL is determined by the demand for the tokens by investors. The market value of SOL increases when investors pour huge liquidity into the cryptocurrency based on seeing it as an asset with great long-term potential.
On the other hand, the market value of SOL decreases when investors let go of their holdings to lock in gains or minimize losses.
Since cryptocurrencies are seen as a threat to the efficiency of the centralized financial system, no central governments support SOL’s usage as a transactional currency.
Currently, there are no physical representations of SOL. More importantly, SOL does not qualify as a legal tender.
Yet, Solana (SOL) continues to gain the same traction as popular and largest cryptos by market capitalization.
Ranked as a top 10 digital asset, SOL is more valuable than some mainstream companies such as Thompson Reuters, London Stock Exchange, Nintendo, Maersk, eBay, and American International Group whose market value falls below $60 billion.
Many decentralized finance fans and blockchain enthusiasts have made positive remarks about Solana’s technological innovation. Many experts believe that Solana has made decentralized finance largely accessible and acceptable for usage by millions of crypto lovers.
Although many blockchain projects continue to be mired by cybersecurity issues, Solana has so far operated without incident. This is why it's novel token, SOL, continues to trade for relatively higher prices than competing smart contracts-backed tokens. Although forecasts are based on possibilities NOT certainties, the possibilities of the Solana ecosystem will result in high demand for its token someday. Therefore, it would be in your interest to consider including SOL in your investment portfolio.
How To Invest $100 In Solana (SOL)
There are several best ways and places through which you can invest $100 in Solana.
To help minimize risks and maximize rewards, we recommend choosing exchanges with huge daily trading volumes.
This way, you avoid having orders waiting in-process queues.
This is why we suggest eToro as the best exchange that would be invaluable towards your investing $100 in SOL journey.
While this article is primarily focused on what might happen if you invest $100 in Solana (SOL) today, there are no limits on the amount of money you can invest in Solana.
The only thing we would like you to be cautious of is the minimum deposit. Exchanges come with different sets of rules.
What’s more, you should also watch out for fees.
Since eToro offers awesome trading products, it is possible to start investing with $100 in Solana today.
Kindly follow the steps below and you will in no time become a Solana (SOL) holder.
1. Register for an account with eToro,
2. Verify your eToro Account,
3. Deposit Funds.
4. Navigate to the Solana (SOL) Page. On this page, you can order several Solana (SOL) tokens. The transaction will be processed and completed.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Will Investing $100 In Solana (SOL) Make You A Millionaire?
Investing $100 in Solana could make you a millionaire if two (2) factors are considered.
The first is to become a long-term investor who is prepared to hold onto your tokens no matter the intensity of a bearish market. Secondly, you should hope that SOL will test new price milestones that can help you realize your investment goals.
For understanding, let us employ simple mathematics in our analysis of a $100 SOL investment turning into a millionaire maker.
At $100, you can purchase 1.04329681 SOL tokens.
You could become a millionaire if SOL trades for $1,100,000 someday.
Although forecasts on SOL so far have seen the best possible price for the token around $5,000 in the future, nothing is impossible in the crypto finance world.
$1,100,000 multiplied by (×) 1.04329681 SOL totals $1,147,626.491 (millionaire maker).
Because of its software solutions, Solana continues to form an integral part of decentralized finance.
With a development activity on the Solana ecosystem which continues to soar daily, Solana could surpass early smart contracts chains Cardano, Binance, EOSIO, and Binance into becoming the main Ethereum Killer.
Despite the possibility of becoming the go-to protocol for the creation of DAPPS, many experts still consider SOL to be a high-risk investment because the protocol lacks longevity and experience. With that said, the Solana ecosystem continues to see more DAPPS added, and its novel token SOL continues to record a minimum of $300 million in daily trading volume.
This means that SOL could brighten your portfolio in the future.
Read Also: Investing In Solana Right Now Could Make You A Millionaire Retiree
What To Consider When Investing $100 In Solana?
When investing $100 in Solana (SOL), it would be in your interest to consider the following.
Know the Actual Costs Involved
Many traders and investors felt they would see $100 worth of SOL on their crypto portfolio, only to have the capital reduced by $2, $3, or $5. These are called processing fees. Others wanted to upload $100 to be able to buy SOL, only to see $97 as the amount that can be traded. These are called depositing fees.
Most exchanges charge depositing and withdrawal fees.
An exchange like eToro does not.
Once you get to know the fee structure of your preferred exchange, you can upload an amount of money that can help you invest $100 in Solana (SOL).
Know Your Risk Tolerance
How much can you afford to lose? Can you afford to lose your $100 investment capital? In the event, there is a wide crackdown on crypto or there is a fault in the Solana ecosystem that needs to be rectified which reduces its market value, will you be affected by the loss of your capital?
Do a thorough assessment of how much you can write off as bad debt. As an e-learning organization, we continue to tell our clients that, if you feel the rewards of investing $100 in Solana are greater than the risks associated with the investment, you can go ahead and invest $100 in SOL.
Invest with caution because no matter the amount you throw into SOL and other coins, your capital is always at risk.
Virtual Currencies and Blockchain Technology Is a New Concept
Many people have not heard about Solana before. When it comes to cryptocurrencies, the first name that comes to the minds of billions is Bitcoin.
When it comes to decentralized finance, the first name on the discussion boards of several traders and investors is Ethereum.
Virtual currencies and blockchain technology continues to gain ground in a space that has been largely dominated by centralized finance systems for more than 150 years.
Therefore, continue to read more about the Solana project, get to know its pros and cons, and its forecasts in the short, medium, and long term.
This will help give you some form of security when you decide to risk your $100 investment in Solana.
While the project has steered clear of any cybersecurity issues, news affecting major cryptocurrencies will also lead to a plunge in the price of SOL. No one can boldly predict the future of SOL or any other token; therefore invest $100 in SOL through credible cryptocurrency exchanges.
Should You Invest In Solana (SOL)?
YES! Solana is one of the best performing cryptocurrencies you should consider investing in, as per the forecasts by analysts at Coin Price Forecast, Digital Coin Price, and Wallet Investor.
Although it would have been better to have invested $100 in SOL much earlier so that your investments could have been worth more than $14,000 today, the trading price of SOL means you can still buy some.
Always ask the question, do the potential rewards of investing $100 in SOL outweigh the possible consequences of the risks?
Investing in SOL has made people millionaires; perhaps this is the digital asset that could transform your portfolio into a gainful one.
eToro – Best Platform To Buy Solana
eToro have proven themselves trustworthy within the Crypto industry over many years – we recommend you try them out.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Read More: