Ethereum Vs Solana

The Ethereum vs Solana debate has become quite a prominent one, with Solana’s proof-of-history (PoH) consensus mechanism presenting a serious challenge to the scalability difficulties of the Ethereum network. This guide will look in more detail at both cryptos, comparing the risk, opportunities and key considerations for traders. We have also provided a list of the top brokers offering Etherum vs Solana trading below.

Top Ethereum & Solana Trading Brokers

#1 - Pocket Option

Why We Chose Pocket Option

Pocket Option offers a modest crypto offering with 10+ digital currencies including Bitcoin and 65+ tokens if you deposit $1000. The integrated analytics feature in the platform is helpful for finding opportunities, while the daily signals service makes it straightforward to act on short-term crypto opportunities.

"Pocket Option excels for its easy-to-use web platform which provides a best-in-class user experience for short-term binary traders. The $50 minimum deposit is also accessible for beginners while opening an account is really easy. Looking at the negatives, Pocket Option still trails alternatives in its market offering and regulatory credentials."

- DayTrading Review Team
  • Crypto Mining: No
  • Auto Market Maker: No
  • Crypto Spread: N/A
  • Crypto Lending: No
  • Platforms: Web, MT4, MT5
  • Crypto Staking: No
  • Minimum Deposit: $50
  • Regulator: MISA

About Pocket Option

Established in 2017, Pocket Option is a binary options broker offering high/low contracts on forex, stocks, indices, commodities and cryptocurrencies. With over 100,000 active users and a global reach, the platform continues to prove popular with budding traders.


  • The MetaTrader platforms offer integrated analysis with helpful technical summaries for short-term traders
  • The range of payment methods beats the majority of rivals, providing fast, secure and convenient deposits for traders in most countries
  • Extremely fast and smooth sign-up process that takes less than 2 minutes


  • Pocket Option offers a slimmed down iteration of the MT4 and MT5 that doesn't provide the full charting package for advanced traders
  • Despite offering competitive payouts up to 92%, binary brokers like IQCent offer higher returns up to 98% based on tests
  • You need to deposit $1000 to access the extended list of 250+ assets, otherwise just 130+ assets are available

#2 - IQCent

Why We Chose IQCent

IQCent offers 17 crypto pairs through its proprietary terminal, including Bitcoin, Ethereum and Litecoin. Leverage on crypto CFDs is capped at 1:10, whilst binary options payouts vary by token but remain competitive. OTC assets, for example, pay out up to 95%.

"IQCent will appeal to day traders looking for a straightforward binary options and CFD trading platform with low fees, a range of accounts, and copy trading. Getting started takes less than 1 minute and a $250 deposit. "

- DayTrading Review Team
  • Crypto Mining: No
  • Auto Market Maker: No
  • Crypto Spread: Variable
  • Crypto Lending: No
  • Platforms: Online Platform, TradingView
  • Crypto Staking: No
  • Minimum Deposit: $250
  • Regulator: IFMRRC

About IQCent

IQCent is an offshore binary options and CFD broker based in the Marshall Islands. The brand continues to offer a range of unique account types with bonuses and perks, including payout boosts, TradeBacks and free rollovers. With 100+ assets, around-the-clock trading and 98% payouts, the firm is popular with aspiring short-term traders.


  • The broker's 24/7 customer support is fast and reliable, responding within 1 minute during tests
  • The proprietary terminal offers TradingView-powered charts which deliver dozens of technical indicators and studies
  • Keen traders can take part in trading contests with cash prizes


  • The broker is not overseen by a respected regulator, though this is common among binary options firms
  • IQCent trails binary brokers like Quotex with its narrow investment offering of around 100 assets with no stocks
  • There's no automated trading support for algo traders

#3 - Videforex

Why We Chose Videforex

Traders can speculate on crypto prices in pairs with USD and CNY through binary options and CFDs. The range of digital currencies is fairly narrow vs alternatives but major tokens like Bitcoin are available.

"Newer traders will find a lot to enjoy about trading binary options on Videforex's easy-to-use proprietary platform, as well as the broker's copy trading solution. Payouts also remain higher than most alternatives climbing to 98%."

- DayTrading Review Team
  • Crypto Mining: No
  • Auto Market Maker: No
  • Crypto Spread: Floating
  • Crypto Lending: No
  • Platforms: TradingView
  • Crypto Staking: No
  • Minimum Deposit: $250

About Videforex

Launched in 2017, Videforex offers access to stock, index, crypto, forex and commodities markets via binary options and CFDs. The proprietary platform, mobile app and integrated copy trading are user-friendly and will suit new and casual traders, and the market analysis tools and trading contests provide good ways to improve your trading skills.


  • You can easily mirror the trades of experienced investors with low fees
  • Global clients can make free and fast transfers via a wide range of payment types, from credit cards to cryptocurrencies
  • The support times are fast and reliable based on tests - few brokers offer 24/7 multi-lingual video support


  • US clients aren’t accepted due to legal restrictions
  • The broker isn’t overseen by a trusted regulatory agency
  • No MetaTrader 4 integration

#4 - CEX.IO

Why We Chose CEX.IO

CEX.IO offers hundreds of popular cryptocurrencies including big names like Bitcoin, Ethereum and Litecoin. The trading platform is well-designed with sophisticated charting and analysis tools, including 50+ in-built indicators. Traders can also reduce their monthly volumes through the tiered pricing structure.

"CEX.IO continues to serve a range of crypto investors looking to buy, sell, trade, hold and earn with low fees. The tiered pricing structure will appeal to active traders while rookie investors will enjoy the straightforward platform interface and excellent education."

- DayTrading Review Team
  • Crypto Mining: Yes
  • Auto Market Maker: No
  • Crypto Spread: 0.15% maker & 0.25% taker (Standard)
  • Crypto Lending: Yes
  • Platforms: TradingView
  • Crypto Staking: Yes
  • Minimum Deposit: $20
  • Regulator: GFSC

About CEX.IO

CEX.IO is one-stop-shop for crypto investors where you can buy and sell popular digital tokens, speculate on prices with margin trading and earn rewards through staking. Since it launched in 2013, more than five million traders have deposited over $7.5 billion. CEX.IO is registered with the FinCEN in the US and the GFSC in the EU.


  • The broker offers 24/7 support with fast response times during tests
  • The range of 200+ cryptocurrencies is competitive and will serve more experienced traders
  • Crypto leverage is available up to 1:3


  • A maintenance fee applies after 12 months of no activity
  • The Exchange Plus platform delivers a cluttered interface compared to competitor platforms
  • Deposit and withdrawal fees are relatively high, including 0.3% + $25 for SWIFT withdrawals

#5 - Uphold

Why We Chose Uphold

You can buy and sell 250+ crypto assets with fiat currencies or in crypto pairs using the straightforward mobile app or through Uphold's browser-based account homepage. This is significantly more than many rivals. You can also earn up to 16% APY by staking one or more out of 32 valid tokens, or send tokens to an external wallet.

"Uphold remains a top choice for crypto investors looking for a one-stop-shop solution to accessing the markets. There are over 250 tokens to buy, sell and trade through flexible platform options."

- DayTrading Review Team
  • Crypto Mining: No
  • Auto Market Maker: No
  • Crypto Spread: Up to 1.5%
  • Crypto Lending: No
  • Platforms: Desktop Platform, Mobile App
  • Crypto Staking: Yes
  • Minimum Deposit: $0

About Uphold

Uphold is a digital asset platform offering a range of services, from crypto trading and staking to payment cards that provides rewards and easy multi-currency payments. The company was established in 2015 and has enabled $4+ billion in transactions. Uphold is now active in 180+ countries and deals in 200+ crypto and fiat currencies.


  • Crypto staking is available on 30+ tokens with above-average rates up to 16%
  • The proprietary app is extremely easy to use with a slick design and navigation
  • UK users can get the Uphold card with up to 2% cashback in XRP


  • The charting analysis features on the platform trail specialist exchanges
  • Uphold operates with limited regulatory oversight
  • There is a 2.49% fee if you want to use debit or credit cards

What Is Ethereum?

Ethereum is a decentralised network and blockchain, much like Bitcoin. It was released in July 2015 by Vitalik Buterin and Joseph Lubin, amongst others, and has its own cryptocurrency token, Ether (ETH). In terms of market value, only Bitcoin is larger than ETH, which is important to note when considering the benefits of Ethereum vs Solana.ethereum vs solana trading 2021 and 2022

Ethereum has become hugely popular in recent years because it has features that Bitcoin does not. Bitcoin is mainly a payment network, whereas Ethereum also runs decentralised applications (dapps) using smart contracts. However, going back to Ethereum vs Solana, Solana now also has an extensive range of dapps.

Cryptocurrencies like ETH are popular with traders as they are volatile and influenced by factors that traditional currencies are not. Additionally, traders can speculate on the price movement of ETH without actually owning the crypto through CFDs and spread betting, which are offered by a range of brokers like CMC Markets. With regards to Ethereum vs Solana, traders may find it easier to trade ETH given its prominence in the crypto market.

What Is Solana?

Solana, like Ethereum, is a blockchain network based on decentralisation. Solana was launched in March 2020 (founded by Anatoly Yakovenko) and its cryptocurrency, SOL, is among the top ten by market cap. This has increased focus on the Ethereum vs Solana debate, as can be seen on social media like Reddit and Medium. The platform and its cryptocurrency have seen fast growth, mainly because its consensus mechanism (PoH) has undercut other platforms in terms of transaction times and fees. Having said that, Ethereum remains a dominant player in the DeFi market.ethereum vs solana, which is the better crypto for trading and investing

SOL can be traded in the same way as ETH, though traders can also stake any spare or inactive SOL funds, essentially earning passive income through interest. This is an important differentiation to note for Ethereum vs Solana.

Ethereum Vs Solana Similarities


When considering Ethereum vs Solana, be aware that both ETH and SOL can usually be traded on the main crypto centralised exchanges. A centralised exchange is a platform where a third party holds your funds through custodial wallets once they are deposited in your account, allowing you to trade and purchase other tokens through their network. Certain cryptos can also be traded on decentralised exchanges, where the trader always retains control of their funds.

Centralised exchanges may be a more appropriate starting point for novices, as traders may find they offer a more user-friendly experience and have better educational material available. However, as decentralised exchanges do not involve a third party, they do not require users to have an account, which can allow traders to begin trading faster and maintain anonymity. It may be easier to trade Ethereum vs Solana on some decentralised exchanges, given its greater size and popularity.

Both Ethereum and Solana be traded as CFDs and through spread betting, which can both involve leverage. Leverage allows traders to gain increased exposure to a market for a given amount of capital, which has the potential to increase both returns and losses. When deciding on Ethereum vs Solana, note that both ETH and SOL are volatile, which can make leverage a high-risk strategy.

Whatever decision traders make regarding Ethereum vs Solana, amateur traders should start with the spot market, where exchanges will allow you to go long (buying an asset with the hope that its value will increase) or go short (selling an asset with the hope that its value will decrease and then buying it back).


For those wanting to store either Ethereum vs Solana, a crypto wallet is required. There are several different types of wallets available depending on a trader’s preference. For example, there are ‘hot’ wallets that are connected to the internet, offering more convenience at the expense of being more vulnerable to hackers. ‘Cold’ wallets, on the other hand, are not connected to the internet, so are recommended for funds that traders do not anticipate using for a prolonged period.

Wallets for the two different blockchains (Ethereum vs Solana) will share common themes, such as a public key, which is how people can send you money and a private key, which is how you access the funds in your wallet.

The right wallet will depend on the trader’s experience with crypto, the quantity of funds they are depositing, what they plan to do with the funds and other factors. When choosing which crypto to trade (i.e Ethereum vs Solana), always research the different wallets available.


Although regulators and governments have taken a more active interest in cryptocurrency in recent years, the market still lacks the regulation that is imposed on traditional money markets. In the UK, cryptoassets are generally only regulated for money laundering purposes and traders should be aware that they are unlikely to have access to the Financial Ombudsman Service or the Financial Services Compensation Scheme. Those considering Ethereum vs Solana should be aware of the risks involved.

Ethereum Vs Solana Differences

Consensus Mechanism

Proof-of-work (PoW) is the current consensus mechanism for Ethereum. This is where miners complete complex mathematical puzzles before the solution is then verified by other miners. Transactions are then added to the blockchain ecosystem and the miner that solves the puzzle receives a reward in the form of ETH. This process maintains the security and integrity of the platform by reducing the risk of fraudulent transactions being added to the blockchain. Whether it’s Ethereum vs Solana, Polkadot, Cardano or Bitcoin, all these blockchain networks need a consensus mechanism to verify the legitimacy of new transactions and maintain the security of the system.

Ethereum will soon be moving to a different consensus mechanism, proof-of-stake (PoS). This method is becoming much more popular as it uses significantly less energy and addresses some of the environmental concerns some users have when considering Ethereum vs Solana. Instead of miners competing to solve mathematical puzzles, a particular ‘validator’ is chosen to forge each block. To be chosen, participants must stake some crypto, with the more staked the more likely you are to be chosen.

Solana has built on the PoS consensus mechanism and pioneered a concept called proof of history (PoH), which can process transactions and add them to the blockchain must more quickly. When considering Ethereum vs Solana, Solana can process more than 50,000 transactions per second (TPS), whereas Ethereum can only do around 15.


Transaction times are usually much faster on the Solana blockchain in comparison to Ethereum’s, a significant differentiation when weighing up Ethereum vs Solana. The former is a crowded network and its reliance on individual miners processing transactions slows the system down. Solana, on the other hand, adopts a more automated consensus mechanism through PoH. The quicker the transaction time, the better for crypto traders, as they can respond more quickly to price movements.


ETH was initially distributed in an Initial Coin Offering (ICO). Unlike Bitcoin, there is no maximum supply for ETH, though its annual supply is limited to 18 million ETH.

When the Solana network launched, it had an initial total supply of 500 million SOL, though this has now reduced by around 11 million SOL. Tokenomics and the supply of crypto are important when considering Ethereum vs Solana.ethereum vs solana, the basics

Price & Market Cap

ETH has a much higher market cap at over $400 billion, compared to SOL’s $40 billion. Both are sizeable but ETH is still in a dominant position. Whether SOL can close this gap will depend, in part, on the success of the PoH consensus mechanism and the reaction of those closely following Ethereum vs Solana.

In terms of the respective cryptos of Ethereum vs Solana, ETH’s higher market cap is reflected in the price of ETH, which sits around $3,500, compared to SOL’s $150. Cryptocurrencies with higher markets capitalisations are usually favoured by more risk-averse traders, although all cryptos are volatile to some degree, which traders can see through an online chart showing the change in the value of a particular crypto over time.

It is also worth noting that the transition of Ethereum from PoW to PoS may cause the price of ETH to appreciate because of the much lesser environmental impact of PoS models. This may create greater opportunities for those trading Ethereum vs Solana.

Transaction Costs

In many ways, Ethereum has become a victim of its own success. Attracting more users onto its network has created bottlenecks and a crowded platform. This has caused transaction costs (also known as gas fees) to increase as miners prioritise those who are willing to pay the most. Ethereum 2.0 will go some way to addressing these issues by adopting the PoS consensus mechanism but, turning to Ethereum vs Solana, SOL’s PoH is still likely to be superior in terms of transaction times and fees.

Pros Of Ethereum For Traders

Pros Of Solana For Traders


In July 2016, the Ethereum blockchain was hacked, resulting in $50 million of funds being stolen. This led to a split of Ethereum Classic (ETC) and Ethereum.

As with all networks, much of the talk around Ethereum vs Solana concerns security and the integrity of the platforms. However, Solana has not avoided negative publicity; in September 2021, it suffered a denial-of-service (DoS) attack which resulted in the price of SOL plunging.

Accepted Countries

Cryptocurrencies like Ethereum vs Solana can be traded from around the world, although some countries have imposed restrictions or made the use of cryptocurrencies illegal. Traders deciding on Ethereum vs Solana should check whether any restrictions apply in their country.

Ethereum Vs Solana Verdict

Talk of new rivals to the Ethereum network is not particularly new. However, Solana has pioneered a genuinely innovative concept, PoH, which, despite its youth, has been seen to produce much faster transaction times and lower fees. The true success of PoH could be a game-changer in the Ethereum vs Solana debate. SOL is certainly looking attractive to investors, though Ethereum is still considered the dominant player in the DeFi space and ETH has seen strong gains of its own.


What Is Ethereum 2.0?

Ethereum 2.0 is an upgrade to the Ethereum network that is taking place in several phases over 2021 and 2022. The objective of the upgrade is to improve speed and lower fees on the network by transitioning to a proof-of-stake model and it could redefine the Ethereum vs Solana debate.

Is It Safe Trading Ethereum Vs Solana?

The cryptocurrency market lacks the regulation that major stock or forex markets have. Cryptos can also be very volatile as they are highly speculative. This creates opportunities for traders, though all traders should be aware of the risks when investing in cryptos and debating Ethereum vs Solana.

What Is Blockchain Technology?

Blockchain technology is a type of database where all transactions are chronologically recorded and publicly available, with all users needing to agree before new blocks (data) is added through a consensus mechanism. Whether it’s Ethereum vs Solana or Polkadot vs Bitcoin, blockchain technology and consensus models are key considerations.

What Are Proof Of Work And Proof Of Stake?

Proof-of-work is the traditional blockchain consensus mechanism, which involves miners solving mathematical puzzles to add new blocks and earn rewards. Proof-of-stake is where a particular validator is chosen to forge the new block using randomisation, rather than miners competing against each other. It’s a key differentiation when looking at Ethereum vs Solana.

Why Does Solana Have Fast Transaction Times?

The principal reason behind Solana’s fast transaction times is its proof-of-history consensus mechanism, which allows transactions to be quickly verified between two events, creating a more efficient process.