How to Buy Solana on MEXC

Do you want to learn how to buy Solana on MEXC? We have the perfect guide for you.

However, a word of warning before you proceed. MEXC allows users to buy and trade cryptocurrencies without KYC checks and, as a result, isn’t cleared to operate in several countries, including the US and Japan. 

However, the platform remains available to US-based users despite the regulations. So, you may be able to sign up and buy Solana on the platform without an identity check. On the other hand, that puts you and MEXC in a vulnerable position. For instance, you may not be able to withdraw your earnings from the platform, and the exchange may face charges due to its lack of proper KYC checks.

Many US-based traders use a VPN to access MEXC, but whether this solution will work long-term remains to be seen.

Therefore, it’s essential to research the platform before you sign up and start trading.

Now, let’s see how to buy Solana on MEXC.

A Step-By-Step Guide on How to Buy Solana on MEXC

1. Register an Account

Go to the MEXC Global website and click “Sign Up” to create a MEXC account. You can use our link to take advantage of our referral code.

2. Verify Your Account

If you want to buy Solana with other digital assets like BTC, ETH, USDT, or USDC, you can do so without identity verification. Similarly, MEXC also allows you to buy SOL and other cryptocurrencies through third parties like MoonPay and Banxa without a KYC check.

You only need to complete ID verification to deposit cash to the platform or add a credit/debit card as a payment method.

To start verification, go to your profile by clicking the “Profile” symbol on top of the MEXC homepage.

Hit “Primary KYC” to start.

You must submit a personal information form and an official picture ID to verify your account.

3. Buy Crypto

You can buy crypto with credit cards, bank transfers, or payment processors, depending on your verification status.

If you skipped verification, select “Quick Buy & Sell” or “Third Party” from the “Buy Crypto” menu on your homepage.

Solana isn’t currently available through the “Quick Buy” function, but you can buy USDT or USDC and exchange it for SOL on the MEXC spot market.

Fill out the order form and select a payment processor to continue. The minimum order limit is 30 EUR.

You can view the fees through the “Payment Details” panel on the right. Choose the most suitable payment option and click “Continue.”

Please note that you must open an account on the selected payment processor website to continue your purchase. You will be given the option to do so once you hit “Continue.”

All payment processors require KYC checks, and some may not be available in your location or may not support the payment methods you want to use. Doing some research before you commit to a platform is a good idea.

Click “Continue” to be taken to the payment channel website. 

Review order details and hit “Buy.”

Sign in or sign up for the service to finish your transaction. 

4. Trade USDT for SOL

Click the “Spot” tab on your dashboard and select “Spot” from the menu.

You can see all the market pairings on the right side of the page. Search for SOL and select the pairing, for example, SOL/USDT. 

Scroll down to see the order form.

If you are a beginner, go ahead and switch from “Limit” to “Market.”  You will automatically receive the best available price in the order books to execute your transaction as soon as possible.

If you place a limit order, you can name your price. However, you have to wait until someone takes your order.

Finally, enter how much USDT you want to spend on SOL and click “Buy SOL.” Your assets will show up in your balance once the order is fulfilled.

You now know how to buy Solana on MEXC. If you want to learn more about buying crypto on cryptocurrency exchanges, check out our reviews, as well as How to Buy Ethereum and How to Buy Polygon guides.