By Galileo 
Solana is known for its high transaction processing speed, but this does not mean that buying a token for US dollars (USD) always takes seconds. Several stages pass between the moment of creating an application and the appearance of coins in the wallet, and each has its own deadlines and nuances. Let’s figure out how long such an exchange can really last and what can slow it down.
Solana (SOL) is interesting, first of all, as a blockchain on which the speed of transaction processing is combined with relatively low network costs. For the buyer, this means the ability to quickly transfer assets and interact with applications within the ecosystem without waiting for confirmation, which is characteristic of some networks.
Another argument is the developed infrastructure around the Solana cryptocurrency, which is based on decentralized exchanges, payment solutions, applications and other projects. Therefore, the demand for SOL is not only related to the desire to buy a token and wait for its rate to rise: the coin is used to pay commissions and participate in operations within the network.
At the same time, there is also a practical side to the attachment:
- SOL can be used directly within the Solana ecosystem, and not just stored as an investment asset;
- high network bandwidth is convenient for frequent operations;
- low commissions make blockchain suitable for operations with relatively small amounts;
- a wide ecosystem creates different scenarios for the use of the token;
- the asset supports most verified cryptocurrency platforms and exchange services.
The listed advantages do not turn Solana into a risk-free way to save savings, so before buying, you should determine what proportion of funds can be allowed to be sent to cryptocurrency, and do not confuse the technological advantages of the network with a guarantee of an increase in the exchange rate.
The waiting period for the operation is different, and it is important to separate the transfer of USD to the exchanger and the listing of SOL in the blockchain – these are two separate operations with different deadlines.
The Solana network itself is fast: slots are designed for approximately 400 ms, although the actual interval may vary. Transactions use a fresh blockhash and can expire if they are not processed within a limited period, so after the exchanger has already received the funds, created and sent the SOL transaction to the correct address, the crediting is very fast. But it is impossible to promise a purchase for a specific number of seconds or minutes due to the presence of preliminary stages.
Conventionally, the process can be divided into four parts:
- Creating an application takes several minutes – the user specifies the amount in USD and the wallet address.
- Payment. This is where the biggest delay is possible: the bank transfer or the payment system may not process the money immediately.
- Verification of payment by the exchanger. The service must make sure that the funds have arrived and correspond to the application. An additional check may be required in the case of an unusual amount or the activation of internal security rules.
- Enrollment of SOL. After confirming the payment, the exchanger sends the coins to the specified address, and then the Solana network is already working.
If the transaction is blocked, its status can be tracked by the transaction signature.
The reason for the delay is not necessarily related to network congestion. One of the typical situations is that the user sends USD late in the evening, and the bank processes the transfer only at certain times, or the payment requires additional verification. A purely technical problem is also possible: the wrong wallet address is specified, the transaction was created with an outdated blockhash, or the exchanger temporarily cannot perform the payment.
In order not to increase the waiting period on your own, before purchasing Solana, you must:
- Solana-wallet address will be checked several times;
- make sure that the application is still valid;
- transfers exactly the amount of USD specified in the conditions;
- do not use details from the old application;
- save payment confirmation;
- after sending the SOL, they will check the status of the transaction by its identifier.
If the money has already been debited, and the SOl token has not been credited, you should not immediately create a second application. First, you need to find out the status of the first transaction at the exchanger and check whether the cryptocurrency transaction was sent to the network.
Exchangers are convenient because the user does not necessarily have to deal with trading orders, a stack of orders and other instruments of the cryptocurrency exchange. You specify how many dollars you want to exchange, receive a calculation in SOL, pay the application and wait for the coins to be sent to your wallet. When buying a coin for US dollars (USD), it is important to compare the offers of different services, and it is easiest to do this with the help of an aggregator, which provides up-to-date and detailed information about each resource, as well as forms dynamic ratings of the best exchangers.
If you want to buy Solana (SOL) for US dollars (USD) without risk, check the exchanger’s reputation, reviews, reserve size, available payment methods, the minimum amount and the presence of additional commissions. Also, specify the application processing period and verification requirements in advance.