You Can Now Buy Solana And More on BitMEX

Earlier today, BitMEX added support for USDT on the Solana network. Fast forward to now and Solana (SOL) has reached BitMEX.

This latest addition means that, starting today, users can now trade, deposit, withdraw, swap and buy SOLana on BitMEX. What’s more, it’s just one of many cryptocurrencies arriving on BitMEX’s platform in the coming weeks and months – so stay tuned.

Read on for what BitMEX mobile and web users can do the next time they log into BitMEX.

If you have not yet created a BitMEX account, you can create one here.

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Trade Solana (SOL) on BitMEX

The SOL/USDT spot trading pair is now available on BitMEX Spot Spot, in addition to TRX/USDT, XBT/USDT, ETH/USDT, APE/USDT, UNI/USDT, MATIC/USDT, LINK/USDT and AXS/USDT.

To trade SOL/USDT, simply select the SOL trading pair from the “Spot Trading Pairs” section of BitMEX Spot Spot.

You can then place the following orders on the selected spot pair:

Limit Order: This order type allows users to prepare spot trades in advance. Place limit orders allow traders to set their own prices to buy/sell cryptocurrencies. If the market reaches the limit price, the trader’s order will be executed.

For example: If the current market price of 1 SOL is 30 USDT, and you want to buy 100 SOL when the price drops to 28 USDT, you can place a limit order.

Instructions: Select “Limit Price”, enter 28 in the “Price” column, and enter 100 in the “Amount” column. Click the ‘Buy SOL’ button to place a limit order.

Market order: A market order is an order that is executed immediately at the current market price. Traders use this order type when they want to complete their orders as quickly as possible. Traders who create market prices do not need to enter prices.

For example: If the price of 1 SOL is 30 USDT and you want to buy 100 SOL immediately, you can place a market order.

Instructions: Select “Market Price”, enter 100 in the “Amount” column, check the approximate USDT amount displayed in the “Order Value” column, and then click “Buy SOL” to place a market price order.

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Buy Solana (SOL) on BitMEX

Users can also buy Solana in minutes, in addition to XBT, TRX, USDT, USDC, ETH, APE, MATIC, AXS, UNI, SUSHI and LINK… the list goes on and on.

To buy Solana or any other cryptocurrency on BitMEX, simply choose from 30+ fiat currency options, enter the amount you want to spend, and select the cryptocurrency you want to buy.

Next, choose your preferred payment provider (Banxa or Mercuryo) and follow the instructions set by your chosen fiat gateway partner.

Users can purchase Solana with the following fiat currencies. AED, ARS, AUD, BRL, CAD, CHF, CZK, DKK, EUR, GBP, GHS, HKD, IDR, INR, JPY, KES, MXN, MYR, NGN, NOK, NZD, PHP, PLN, QAR, SAR, SEK, SGD, THB, TRY, TWD, TZS, UAH, UGX, USD, VND, and ZAR.

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Exchange Solana (SOL) on BitMEX

Users can now exchange SOL for USDT (SOL) – and vice versa – without any hidden fees. All cryptocurrency exchanges on BitMEX’s platform happen instantly, so there is no need to worry about slippage. This new addition means that users can quickly and easily convert their SOL to USDT, freeing up time to focus on trading Tether-margined cryptocurrency derivatives and/or accessing spot trading pairs.

To exchange cryptocurrency on BitMEX, simply select the cryptocurrency you want to exchange, the cryptocurrency you want in return, and enter the amount you want to exchange or receive. Check the exchange rate quoted on the screen and if you are satisfied, click “Confirm”. Once the exchange is successful, the cryptocurrency you exchanged will appear in your wallet and can be used immediately.

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Deposit and Withdraw Solana (SOL) on BitMEX

Depositing and withdrawing Solana on BitMEX is easy. Just go to your wallet and click the “Deposit” button. Then, select Solana and copy or scan your Solana wallet QR code to transfer SOL to BitMEX.

Note: The minimum amount you can withdraw/deposit is 0.02 SOL.

What is SOLANA?

Solana is an open source third-generation blockchain that supports a range of DeFi solutions, including the development of decentralized applications (DApps) and smart contracts.

Unlike other blockchains, Solana uses a unique combination of Proof of History (PoH) and Proof of Stake (PoS) to verify transactions, enabling the network to conduct up to 50,000 transactions per second.

SOL Token is Solana’s native token and utility token, which provides a means of staking professional value and blockchain security. SOL is also used to perform micropayments called Lamport.

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Coming soon: more spot trading pairs, big giveaways and listings

In the coming weeks, support for more cryptocurrencies and spot pairs – including ETH/XBT – will arrive on BitMEX. Some giveaways, crypto derivatives listings and margin options are also coming soon, so stay tuned.

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