Get table-ready
Three things sit between you and your first trade: a wallet, a small amount of SOL to cover network fees, and a stablecoin to trade with. None of it takes long, but each part is worth understanding before you move any money.
A wallet: your keys, your approval
A wallet is the app you use to hold your funds and approve transactions. It stores the digital keys that prove the funds are yours, and nothing moves without your approval. Nobody can access it without your approval, and no support desk can recover it if you lose access.
Wallets come as browser extensions, mobile apps, and physical devices. Any of them will do for a first trade. What is a Wallet? covers how they work in full, and you can compare your options at solana.com/wallets.
When you set one up, you'll be given a seed phrase: a list of words that restores your wallet if you lose the device. Write it down, keep it offline, show it to nobody and store it securely. Anyone who has it can access your funds.
Getting funds into your wallet
There are two common ways to fill a wallet and they suit different people.
Buy inside the wallet: Most wallets have a Buy button that lets you pay by card or bank transfer and receive crypto directly. It's the shortest route, and it works without an account anywhere else. Availability depends on your country.
Buy on an exchange, then withdraw: You open an account with a crypto exchange, verify your identity, buy what you want, and withdraw it to your wallet address. More steps, and it takes longer the first time, but it’s a common route for many traders.
Some poker tournament operators now accept crypto payments directly, which is another way a poker player might already hold funds in the crypto ecosystem.
Whichever route you take, the same warning applies. When you withdraw from an exchange, you have to select the network you're sending on. Choose Solana. Sending Solana-based funds over a different network is one of the most common ways new users lose money, and the funds are usually unrecoverable. Send a small test amount first and confirm it arrives before you move the rest.
SOL for fees and a stablecoin to trade with
Every action on Solana costs a small fee, paid in the native network token, SOL. This is true even when you're moving a different token, so you need a SOL balance regardless of what you plan to trade.
The amounts are small. A typical transaction costs a fraction of a cent, so $2 of SOL can last a while. Some actions cost slightly more, and a little headroom is sensible, but you don't need to hold much. Understanding Solana Transaction Fees covers this in detail.
A stablecoin is a token designed to hold a fixed value, almost always one US dollar. The stable value is what separates it from SOL or any other token whose price moves.
That makes it an ideal token to trade with as positions are usually opened, sized and settled in stablecoins, so your profit and loss reads in dollars rather than in a moving token.
USDC is the main stablecoin on Solana. Introduction to Solana Tokens covers how it works.
Stablecoins are not risk-free. They depend on the issuer holding real assets against every token, and that promise has broken before with other stablecoins. Use established ones, and understand that "stable" describes the intent rather than a guarantee.