Solana is one of the top-traded cryptocurrencies in the market, and there are many ways to convert SOL to USD. With Paybis, you can do this in minutes. This platform supports cards, bank transfers, and e-wallets, almost instantly. Moreover, there is full transparency about the exchange rates and the cost of fees, which makes Paybis one of the most suitable options.
Top 3 Conversion Methods
The Paybis exchange features multiple ways of converting SOL to USD. Let’s break down the three popular methods.
1. Sell SOL to USD via Visa/Mastercard
Paybis offers the option to sell SOL directly to USD and withdraw the money to a Visa or Mastercard card. This method lets users sell as low as $10 and settle transactions instantly.
The fees charged to withdraw to a credit or debit card are a bit higher than other methods ($46.96 service fee for selling 10 SOL). The Paybis platform shows the cost of the fees upfront, detailing the amount charged in each case: both the network fees, charged by the blockchain, and the service fees charged by the exchange.
The fiat currency is paid to the seller as soon as the SOL transaction is processed.
2. Swap SOL to USDC, Then Withdraw to the Bank
Another option available is to swap SOL to USDC, the Circle stablecoin, and then withdraw the USDC. This coin runs in multiple networks, like Ethereum, Polygon, or Base. It can also be withdrawn to credit or debit cards, as well as bank transfers, so it’s one of the most versatile options.
In terms of fees, although it requires two operations, both charges are low. The cost of swapping SOL to USDC is less than 2%. The fees charged for withdrawing the stablecoin depend on the preferred method, but it’s usually less than 5%.
3. Sell SOL to USD via Skrill, Neteller, or Bank Transfer
A popular option is to withdraw SOL to e-wallets, like Skrill or Neteller. Both methods are instant and charge similar fees. The minimum amount of withdrawal is $20, and the maximum amount is $25,000.
It’s also possible to withdraw directly to a bank account via SWIFT, ACH, SEPA, or FPS, depending on the region. However, in this case, the minimum amount is $1,000 in the case of SWIFT withdrawals in the US, and fees are around 6%.
These details vary across regions, as withdrawals adjust to different banking systems. But it generally takes a bit longer to validate transactions, and withdrawal limits are much higher.
SOL to USD Step-by-Step Guide
Now we’re going to see how this looks in practice. Let’s learn how to sell SOL to USD on the Paybis exchange to enjoy the profits of our Solana investments. SOL has had a great market performance this year. It reached a new All-Time High back in January, and it’s only 23% below that point at the moment, in early October.
1. Start a Sell Order
The first step is to start a sell order in the Paybis platform. Here, you must select the cryptocurrency you want to sell, in this case SOL, and the preferred payment method.
For this example, we’re going to use Skrill. Now, you must introduce the amount you want to sell, whether in SOL or in USD. Once you enter the amount, the platform will automatically calculate the fees.
In this case, we can see that the service fee is below $5, and there is no network fee.
2. Verify Identity (KYC) and Choose Payment Method
You’ll need to sign up if you don’t have a Paybis account. First, you must verify your e-mail and phone number, and then undergo a quick KYC process. It’s necessary that you upload a picture of an ID card and comply with a card ownership check if you’re using a credit or debit card.
This is a mandatory process because Paybis must abide by financial regulations to operate the exchange and provide a secure and reliable service to its customers.
3. Send SOL to the Wallet Address
After you verify your identity, the platform will display the wallet address and the equivalent QR code. It is important to send the exact amount from your Solana wallet and verify the network. Any mistake regarding the address, amount, or network may result in loss of funds.
4. Receive USD to Chosen Withdrawal Method
After making the payment, you’ll receive the USD. Depending on the chosen withdrawal method, the processing times may vary. Card withdrawals are settled instantly, but bank transfers take longer.
Paybis is fully transparent about its fees and processing times, so you’ll know when and how much you’re receiving before going through with the transaction.
Withdrawal Options
Now, let’s compare the specific features of the different withdrawal options available in Paybis.
|
Withdrawal method |
Speed |
Fees |
Min./max. limits |
|
Visa/MasterCard |
Instant |
~4.90% |
$5/$20,000 |
|
Skrill |
Instant |
~4.66% |
$50/$25,000 |
|
Neteller |
Instant |
~5.73% |
$50/$25,000 |
|
Bank transfer |
1-3 business days |
~6.22% |
$1,000/$1,000,000 |
FAQ
How much is 1 SOL to USD?
SOL is currently valued at around $220 by early October. In the last few weeks, its price has ranged from $200 to $250.
How do I exchange SOL to USD?
Paybis offers multiple methods to withdraw SOL to USD, using credit or debit cards, bank transfers, and e-wallets.
Is SOL a good investment?
Solana is one of the most robust blockchains, with a big community and network of applications. It is currently ranked #6 by market capitalization.
Can SOL reach $1,000?
Although the future price of crypto assets can’t be accurately predicted, SOL has had a positive performance in the last months. Its development team continues to strive to maintain an optimal environment to build and grow dApps.
