We already know What Solana is, now it’s time to learn about how you can use it to your advantage. By participating in a rapidly growing ecosystem like Solana and others mentioned throughout the site, you become part of that growing community and earn a portion of its increasing value. If Solana was a machine made of bolts and steel, SOL coins would be its petrol. The Solana Network has a broad spectrum of underlying products that all utilize their own fungible tokens known as SOL tokens. These tokens are stored in the same place as your SOL coins and interact with different products built using Solana. To get the most from your SOL coins, use the following tools to their full advantage. Don’t be shy either, all of the services discussed below can be accessed with less than 1 $USDC and a little SOL. Don’t be afraid to make mistakes and enjoy playing in the sandbox. So, let’s dive in and see how to use Solana!
Wallets
You can’t do anything without a good wallet. So here is a list of the best available wallets for Solana users. All products in this section are non-custodial and require you to safely store your private key.
Phantom
Phantom is the most popular and widely used wallet on Solana. It offers an easy-to-use interface, built-in staking, and swap features for quick trades. This all-in-one wallet is the most useful tool for earning money on Solana. For this reason, we have a Phantom Wallet Tutorial available to get everyone started. Phantom has done an excellent job of being the first wallet integrated with many new projects being released on Solana. Phantom Mobile Wallet is available now for Apple, while the desktop wallet is available for Chrome, Brave, Firefox, and Edge browsers.
Solflare
Offering the same all-in-one experience as Phantom, Solflare enables users to navigate easily across the Solana Network and interact with all of the best products Solana has to offer, except Solflare offers this as a mobile experience for both Android and Apple users. This is the only difference and does not affect their compatibility with other protocols in this guide. If the only operating system you have is Android, Solflare is your best option. Solflare is also available for desktop on Chrome, Brave, Firefox, and Edge browsers.
Automated Market Makers
AMMs are an incredible way to earn high returns on your SOL Coins. Participating in the DeFi community is an interest-earning opportunity no one should pass up. Take advantage of the following Automated “Money” Makers to effortlessly grow your SOL Coins.
Raydium
Raydium $RAY is the largest and most used AMM available for Solana. Raydium has quickly grown to be a central hub for almost everything related to Solana and its growing use cases. For this reason, we have created a complete How-to use Raydium Tutorial. This will help navigate you through all the options for maximizing your returns with Raydium in a simple and easy-to-follow way.
Orca
Orca $ORCA had a later start in its Solana journey but has become one of the most used decentralized exchanges on Solana in a short time. Orca provides a frictionless experience for users of all levels, giving even the shyest DeFi users the easiest-to-understand interface of any available AMM. Transactions on Orca are near-instant and include a “Fair Price” routing…
Jesse is a passionate seeker of truth who enjoys educating others about Bitcoin.
As a free thinker and 2nd amendment advocate, Jesse believes each individual has the right to monetary freedom.
“The swarm is headed towards us” -Satoshi Nakamoto
