How to get started on Solana: a beginner's guide

Getting saturated with information and technicalities is a process we all go through when we don't know how to get started in Solana. Especially when you have had no contact with anything related to blockchain ecosystems.

That is why I am making this Solana guide for beginners so that you can make transactions and use dApps in a simple way, without technicalities or complications.

Note: This guide should also not be taken as an investment suggestion or specialized advice. That being said, let's start with the guide.

How to get started in Solana: get SOL

No matter what you want to do within Solana, you will need a wallet and SOL.

Among the most popular wallets, Phantom is the most widespread within the Solana ecosystem and continues to expand the networks in which it operates. In any case, a wallet provides you with a randomly generated account address that works like a traditional bank account number.

Here's how to install Phantom, create an account and get enough SOL to get started in the Solana ecosystem.

1. Install Phantom

To use Phantom, you have two alternatives:

• Download the extension on PC for browsers such as Brave and Chrome.
• Download the mobile application, available on iOS and Android.

You can find the official links to download Phantom directly from their page.

Install Phantom on PC

Using a wallet through a browser extension is convenient and secure. In Phantom, after choosing a compatible browser, simply do the following:

1. Click on "Download", choose your browser and you will be redirected to the web store.
2. Click "Add to..." to start the download and installation.
3. Pull down the extensions menu and click on "Pin" so that you can access the wallet faster.

Install Phantom on mobile

If you want to learn how to get started in Solana from a phone, you can also install Phantom on any mobile operating system.

1. Click on "Download".
2. Choose your operating system and it will automatically open the App Store on your device.
3. Click on "Get" or "Install".

That's it, you have installed the Phantom extension or app. Now, it's time to create an account.

2. Create a Phantom wallet

When creating your account, you should know that there are two ways to do it. One is to associate an email address, and the other is to generate a Seed Phrase. Using an email address allows you to easily remember access to your Phantom wallets, but it also involves an additional risk.

On the other hand, if you decide to generate a Seed Phrase, I recommend that you write it down on paper and keep it safe. Remember that in blockchain, transactions are permanent, so following security practices will help you avoid unpleasant surprises in the future.

The Seed Phrase is like a unique and highly secure password that will allow you to regain access in any situation. It consists of 12-24 random words.

When you create your Phantom account, you will need to choose a password and username. This is the sequence of screens you will see:

What can you do with a Phantom account?

On its own, a Phantom wallet is a very powerful way to get started in Solana, as it brings together all the fundamental features:

• You can exchange tokens directly.
• Allows you to send and receive tokens.
• You could manage more than one wallet from the same account.
• Discover dApps and use them directly.
• staking.

Of course, for any of these actions you will require SOL funds. In the next step I will show you the ways to get enough funds to start taking advantage of the opportunities offered by this ecosystem.

3. Buy or receive SOL

All transactions on the Solana network Solana SOL, the token . You need it to pay the gas fee for every transaction you confirm (such as sending funds, interacting with a dApp or DeFi platform, exchanging tokens, etc.), and it also serves as the token for the vast majority of trading pairs.

To get SOL, you can use a payment gateway directly with Phantom to convert fiat money into SOL. Simply pull down the extension window or open the application from your phone and click on "Buy SOL with cash".

In doing so, you can proceed to make a payment with a debit/credit card, or resort to payment methods prevalent in your region, such as Apple Pay.

The other way to get SOL in your wallet is to receive a direct remittance from another wallet. There are P2P platforms and big Exchanges like Binance that allow you to receive funds with other payment methods. This is how you can copy the address of yourSolana wallet (plus a very important tip):

I already have a wallet and SOL, what's next?

Well, I've already shown you what you need and how to get the fundamental requirements to get into Solana. At the time of writing this guide, Solana has just reached a price of $240 USD, which gives us a clear sign of its popularity and diverse uses. But what are these uses?

To begin with, let us remember that this is a very cheap and efficient network. This has been incentive enough to explore all the possibilities of Solana and has led to the creation of large projects.

For example, memecoins communities constitute an important volume and magnificent platforms have been created to launch this type of assets (such as Pump.fun or Lets Bonk). But this does not detract from the millions of wallets seeking to generate revenue with capital of all sizes through DeFis such as Lince or RECC, or tokenstaking .

And, not least, there is the possibility of using tokens as a means of utility to obtain some exclusive service or product. Of course, there are also those who prefer to use SOL in play-to-earn games or NFT projects, although the latter two have lost relevance in the last year.

But every project on Solana part of a vast ecosystem that continues to grow day by day. At Smithii, our goal is to make it easier to create and manage Web3 projects, with a special focus on Solana. So if you want to learn how to get started on Solana your own token, you should try our toolsuite, which will make the process easier with no-code tools.

Having said all this, let's review the main pillars of Solana and how to take advantage of its features as a newcomer user.

Fundamental pillars of Solana: where to use SOL

Yes, having SOL already makes you a user of the ecosystem, but you are not taking advantage of everything you can do. To really know how to get started in Solana, I'm going to show you the fundamental pillars so you can invest the SOL you have in your wallet.

Memecoins

The rise of meme coins has made Solana what it is today, as a large part of the daily volume is thanks to them. It is a coin that, as a general rule, has no use beyond representing a hilarious situation or recent event.

In this pillar, launchpads have completely changed their raison d'être to give way to coin-launching platforms of all kinds and with innovations behind them. Pumpfun and Letsbonk are the most popular in this category. However, if trade is your thing, you can also use the advanced version of Pump.fun or use GMGN for this.

I think it is important to warn you about memecoins, because if cryptocurrencies are volatile, meme coins are even more so. For there is never lacking the surprise of the week that manages to make x50 in a matter of hours and then disappear. Therefore, if you decide to go down this path, do not forget to do a thorough research before joining any community.

Interested in becoming a creator? We have a complete guide for you to create meme coins or utility tokens.

Staking

staking is a fundamental process for the security and operation of the network. I must say that it is one of the easiest and safest ways to generate returns, as long as it is done with due caution and prior research.

Basically, you and thousands of others would "lock" your assets so that a network validator can verify transactions and create new blocks. The more tokens that are staking, the more likely you are to become a validator, which generates rewards that are distributed to participants.

Additionally, you can staking SOL and many other assets, so the percentage returns can vary from 2 to 10%.

DeFi

DeFi (Decentralized Finance) are platforms or systems based on blockchain technology with a unique approach to finance without intermediaries or large companies behind. Thanks to those we can find DEXes that allow staking or yield farming.

In Solana, the most popular DeFi's are Jupiter and Raydium, an aggregator and DEX respectively that allow multiple token exchanges and get the best transaction fees.

If you want to use Solana to achieve annual returns for saving and investing, then surely there are dozens of DeFi's that will suit what you are looking for. Lince, for example, allows you to optimize your asset portfolio by moving your funds to the highest yielding yields, based on the level of risk you want to take.

Another innovative platform is RECC, a Real Estate Crypto Crowfunding that allows you to invest to buy and remodel properties in Spain. You can enter with a minimum investment of 10 USDC and you will participate in high yields that can easily exceed 20% per year.

Creation and integration of tokens

Another of the pillars of this ecosystem that motivates you to join Solana is the great compatibility with all the projects that exist. The tokens of this network work under the SPL standard, so you can create tokens with all the attributes you want. In addition, all DeFi and Launchpads are positioning themselves to make Solana the preferred ecosystem for startups and future technology companies.

In addition to creating tokens, you will also be able to integrate them into existing DeFis or those you want to develop. Now that Solana is on its way to recovering its historical maximum, more people will be encouraged to participate in this ecosystem, giving rise to a market full of potential opportunities.

We’ll be releasing a guide very soon on how to add DeFi functionality to a token Solana promoting its adoption and driving widespread use. So be sure to subscribe to our newsletter stay up to date on this and many other updates.

NFT and Play-to-earn

To be completely fair, talking about NFTs and Pay-to-earn is touching on a topic that is little talked about these days, but that doesn't make it impossible to chart a path destined for blockchain collections or gaming.

One of Solana s most prominent NFT collections that has endured since its inception has been Solana Monkey Business (SMB). Meanwhile, Mad Lads has recently become popular and forms another of the largest communities.

Beyond the hype of having an SMB, what is really worthwhile is the active and highly substantial community they represent. It is, to say the least, a way to join an exclusive club that only people who truly belong to Solana and all that it represents belong to.

If you wanted to learn how to get started in Solana to keep up with the industry's early adopters, then you're likely to find them in current NFT projects.

In this field there are projects as peculiar as they are incredible, such as STEPN, a Move-to-earn that engages all its participants in buying running shoes and rewards them for real physical activity with tokens that they can exchange for better shoes or real rewards.

If you check, there are projects of all sizes and with all projects within the Solana ecosystem. Which makes you not only want to be part of it as a user, but as a creator. Without a doubt: OPOS.

Conclusion

I hope this beginner's guide to Solana will not only help you create a wallet and get SOL, but expand the knowledge you had to become interested in any of the foundations that make this ecosystem one of the most active today.

Do you want to earn passive income, or be part of a community full of people with similar tastes to yours? What about becoming the creator and founder of your own project? All this can start, now.

Thanks for reading. Don't forget that Smithii has tools that make it easy to manage and create tokens on Solana and more blockchains. Subscribe to our newsletter to receive exclusive newsletters and stay up to date with the latest news.