Exchange on Solana

A Solana address is a public key in Base58: 32 to 44 letters and digits, with no 0x prefix. Case matters, and Base58 has no 0, O, I or l, so an address containing them is certainly a typo. Tokens on Solana follow the SPL standard, served by the original Token program and the newer Token-2022. A token is identified by its mint address, and lookalikes with the same name are common, so check the mint address. Coins from other blockchains appear on Solana as bridged SPL tokens with no direct tie to their home network.

Tokens sit in separate token accounts tied to the wallet; the main one for each token is the associated token account, whose address is derived from the wallet address and the mint. Give the sender your regular wallet address: their wallet will find the token account or create it. Creating an account takes a small SOL deposit (rent), usually paid by the sender. Closing an empty token account returns the deposit.

Fees on Solana are paid in SOL: a base fee of 5,000 lamports (0.000005 SOL) per signature, plus an optional priority fee. Without SOL in the wallet you can send neither SOL nor tokens. Every account also has a minimum balance that makes it rent-exempt; in 2026 it is being lowered step by step. Because of it, a very small amount of SOL cannot be sent to a new empty address, and you cannot leave your own wallet with a balance below that minimum — only zero or more.

A Solana slot lasts about 400 milliseconds, and a transfer is confirmed within seconds. A personal wallet needs no memo; if an exchange asks for one on deposit, use the memo from its instructions.