Solana Basics
New to Solana? You're in the right place. This page explains everything you need to know in plain language — no technical background required.
What is Solana?
Solana is a blockchain — think of it like a super-fast, global payment network that anyone can use. It lets people send money, create digital items, and use apps, all without needing a bank or middleman.
What makes Solana stand out is its speed and low cost. Transactions happen in about 1 second and cost less than a penny. Compare that to older blockchains like Ethereum, where transactions can take minutes and cost several dollars.
What is SOL?
SOL is Solana's currency — like dollars for the Solana world. You use SOL to pay for transactions, buy tokens, purchase NFTs, and interact with apps on Solana. You can buy SOL on exchanges like Coinbase, Kraken, or Binance, and store it in a wallet app like Phantom.
Good to Know
What Are Tokens?
Tokens are digital items that live on Solana. They can represent almost anything — a new currency, loyalty points, a meme coin, or even ownership of something. Anyone can create a token on Solana (and it's surprisingly easy — check out our Create a Token guide).
Some well-known tokens on Solana include USDC (a digital dollar), BONK (a popular meme coin), and JUP (the token for the Jupiter exchange).
What is a Wallet?
A wallet is your digital pocket — it's where you store your SOL, tokens, and NFTs. It's also how you sign in to apps on Solana (instead of creating a username and password, you just connect your wallet).
The most popular Solana wallet is Phantom. It works as a browser extension on your computer and as an app on your phone. Setting one up takes about 2 minutes.
Transaction Fees
Every time you do something on Solana — send SOL, swap tokens, buy an NFT — you pay a tiny fee. The good news? Solana's fees are incredibly small, usually less than $0.01. You could make hundreds of transactions for just a few cents.
Typical Solana fees:
- Sending SOL to a friend: ~$0.00025
- Swapping tokens: ~$0.001–$0.01
- Creating a token: ~$0.02
How is Solana Different from Other Blockchains?
There are many blockchains out there (Bitcoin, Ethereum, etc.), but Solana has some big advantages for everyday use:
Transactions complete in about 1 second. On Ethereum, it can take 15 seconds to several minutes. Bitcoin? Up to an hour.
A typical Solana transaction costs a fraction of a cent. On Ethereum, fees can be $1–$50+ depending on network traffic.
With wallets like Phantom and apps like Jupiter, using Solana feels as easy as using any regular app. No complicated setup needed.
Ready to Get Started?
Now that you know the basics, here's what to do next: