Tuesday, June 25, 2024
HomeCryptocurrencyHow To Convert Wrapped SOL To SOL on Solana

How To Convert Wrapped SOL To SOL on Solana

4.9/5 - (26 votes)

In this article, we will provide you with a complete and latest guide on how to convert SOL wrapped in Solana to SOL. If you found this article informative and helpful, please share it. Let’s start…..

If you have wrapped SOL (wSOL), you may have to unwrap it back in SOL as not every exchange or platform accepts the wrapped version. The good news is that Wrapped SOL is easy to open and only takes a few steps in the Solana-compatible wallet.

The basic requirement for conversion is any Solana-compatible wallet.

How to convert wrapped SOL To SOL

As per our honest recommendation, use the Phantom wallet on the Solana network to convert wrapped SOL to SOL. Please follow the 3 steps given below if you are holding any wrapped SOL in your phantom wallet to make this conversion successful.

  1. Firstly, sign in to your Phantom wallet, then select the wrapped SOL token from your asset list ( Asset list means tokens you are holding).
  2. Secondly, click on the menu button to explore more available options. (Menu button looks like “…”).
  3. Finally, click on the “unwrap all” option. Boom, you have successfully converted your wrapped SOL to SOL (Solana).
  4. You will then receive normal Solana (SOL) tokens in your Phantom wallet.
convert wrapped SOL To SOL
convert wrapped SOL To SOL

Your wSOL will be converted back to SOL immediately. Note that you must have a small amount of unwrapped SOL in your wallet to pay the conversion fee.

If you don’t want or don’t want to use Phantom, you can also switch to a Solana DeFi exchange like Step. Swap between finance and unwrapped SOL and SOL.

Fees to Unwrap Solana (SOL) tokens

Fees to unwrap Solana tokens are less than 1c. Thanks to the Solana blockchain, that’s why Solana is known as an Ethereum killer. On the other hand, on the ETH network if we need to Unwrap ETH or vice versa it can cost a minimum $10 and up to $50 due to high gas fees.

Wrapped SOL to SOL Conversion Rate

The chart below is the live conversion rate of Wrapped SOL to SOL in US Dollars.

What is wrapped sol?

Wrapped SOL is SOL in token form. mainly so that you can swap it for other tokens on something like a serum.

Can You Send wSOL to an SOL Address?

No, do not send wrapped SOL to an SOL address. They are two different tokens, so the exchange will not receive them and you will not be credited with the amount.

If you mistakenly sent wSOL to Binance, FTX, Kucoin, or another address, you’ll have to contact their customer support team. This can take a while and may come with a fee.

Before sending any crypto, it’s recommended you always send a small amount as a test transaction to avoid such mistakes.

Conclusion

In the above post, we discussed about how to convert wrapped SOL to SOL, what is wrapped SOL called and what are the charges to convert wrapped SOL to SOL. We hope you liked the method provided if you liked it please share it. If you invest in crypto we strongly encourage you to visit other pages of our website as we publish content related to crypto, the stock market, and investing.

Also Read: Bitfinex Hack: American couple arrested for stealing $3.6 billion in bitcoins

Most Popular