Bitcoin vs Ethereum vs Solana: which should you buy first?
Bitcoin, Ethereum and Solana are the three cryptocurrencies you can now buy with zero commission on IG. They are fundamentally different assets — built for different purposes, with different supply models, risk profiles, and reasons investors choose them.
Key Takeaway
- Bitcoin (BTC): fixed supply of 21 million coins, digital gold positioning, store of value. Institutional adoption via US spot ETFs. Highest liquidity, lowest relative volatility vs other crypto.
- Ethereum (ETH): programmable blockchain for DeFi, NFTs, and smart contracts. 500,000+ validators. Staking yield approximately 4–6% (variable, not guaranteed).
- Solana (SOL): speed-first blockchain, 1,000+ TPS average, $0.00025 average transaction fee. Firedancer upgrade targeting ~1 million TPS later in 2026.
- Risk is not equal: all three are highly volatile. SOL has had multiple network outages. ETH is more correlated to Nasdaq/tech than BTC.
- You do not have to choose one: many UK investors hold a combination of all three. IG charges zero commission on BTC, ETH, and SOL.
Bitcoin, Ethereum and Solana are the three cryptocurrencies you can now buy with zero commission on IG. But they are fundamentally different assets — built for different purposes, with different supply models, different risk profiles, and different reasons investors choose them.
This guide explains what each one actually does, how they compare on the metrics that matter, and what questions to ask yourself before you start.
21M
Bitcoin's fixed supply cap (coins)
500K+
Ethereum validators securing the network
1,054
Solana avg non-vote TPS (CoinStats, 2026)
What are Bitcoin, Ethereum and Solana?
The three coins solve different problems. Understanding those problems is the starting point for deciding which one — or which combination — fits your goals.
1. Bitcoin (BTC) — digital scarcity
Bitcoin was created in 2009 as a decentralised digital currency with a hard cap of 21 million coins — a feature deliberately built in to make it scarce. No government or central bank can create more. That fixed supply, combined with increasing institutional adoption through spot ETFs and growing sovereign interest, underpins Bitcoin's positioning as 'digital gold': a store of value rather than a technology platform. Bitcoin's blockchain processes roughly seven transactions per second (TPS) — deliberately slow by design, prioritising security and decentralisation over speed. Its April 2024 halving cut the daily supply of new coins in half, a structural event that has historically preceded price appreciation cycles.
2. Ethereum (ETH) — the smart contract platform
Ethereum is a programmable blockchain that enables smart contracts — self-executing code agreements that power decentralised finance (DeFi), non-fungible tokens (NFTs), stablecoins, and a vast range of other applications. In 2022 Ethereum switched from energy-intensive Proof of Work to Proof of Stake, slashing its energy consumption by around 99%. ETH holders can now stake their coins — locking them to help validate the network — and earn an estimated 4–6% annual yield in return (figures vary and are not guaranteed). Ethereum's 500,000+ validators make it the most decentralised smart contract blockchain by that measure.
3. Solana (SOL) — speed-first blockchain
Solana launched in 2020 with a focus on raw throughput — processing over 1,000 transactions per second on average, with a theoretical ceiling of 65,000 TPS on its base layer (and potentially over one million with the Firedancer upgrade targeting later in 2026). Transaction fees average $0.00025 — a fraction of Ethereum mainnet costs during congestion. Solana has attracted 17,700+ active developers as of late 2025, making it the second-largest blockchain developer ecosystem after Ethereum (Motley Fool, 2025). Its primary vulnerabilities have been network outages — Solana experienced multiple downtime events between 2021 and 2023, though the network has been significantly more stable since 2024.
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Ethereum, Solana and Bitcoin
How Bitcoin, Ethereum and Solana compare
The table below compares the five metrics that matter most to UK investors deciding between the three assets.
| Metric | Bitcoin (BTC) | Ethereum (ETH) | Solana (SOL) |
| Supply cap | 21 million (fixed) | Unlimited (deflationary post-merge) | Unlimited (~580M circulating) |
| Speed (TPS) | ~7 TPS | ~15–100 TPS | ~1,000–65,000 TPS |
| Market cap rank | #1 | #2 | #4-5 |
| Institutional ETF | Yes — US spot ETFs since Jan 2024 | Yes — US spot ETFs since July 2024 | US spot ETFs approved Oct 2025 |
| UK CGT applies? | Yes | Yes | Yes |
Which type of investor suits each asset?
There is no universally correct answer — the right choice depends on your goals, your existing portfolio, and your risk tolerance. Here is how different investor profiles typically think about the choice. This is not financial advice; it is a framework for your own research and decision-making.
1. If preservation of capital matters most to you
Bitcoin is typically the starting point. Its fixed supply, institutional adoption through ETFs, and 'digital gold' narrative mean it tends to hold value better than other crypto assets in macro downturns — though all cryptoassets remain highly volatile and there is no guarantee of any return.
2. If you want exposure to blockchain technology growth
Ethereum offers the broadest exposure to DeFi, NFTs, and the smart contract ecosystem. Its Glamsterdam upgrade, targeting 10,000 TPS and 78% lower gas fees, is scheduled for end-August 2026 and could meaningfully change its cost competitiveness. The ETH/BTC ratio at approximately 0.027 (June 2026) is near a multi-year low, which some investors see as a relative value opportunity.
3. If you are comfortable with higher risk for higher potential upside
Solana's smaller market cap means it can move more dramatically in both directions. SOL has historically outperformed BTC and ETH in bull markets and underperformed in bear markets. Its Alpenglow consensus upgrade — targeting 100–150ms transaction finality — is expected on mainnet in late Q3/Q4 2026 and could be a significant positive catalyst.
Quick fact
Do you have to choose just one?
No. Many UK investors hold a combination of BTC, ETH, and SOL to spread exposure across different risk/reward profiles. IG charges zero commission on all three, so there is no cost penalty for diversifying your crypto holdings across the three assets. Capital gains tax applies to all three disposals under UK HMRC rules.
Should I buy bitcoin or ethereum — summed up
- Bitcoin: fixed 21M supply, digital gold, institutional ETFs, highest liquidity — the lowest-volatility entry point into crypto.
- Ethereum: smart contract platform, 500K+ validators, ~4–6% staking yield (variable, not guaranteed), Glamsterdam upgrade (Aug 2026).
- Solana: speed-first, 1,000+ TPS, low fees, Firedancer and Alpenglow upgrades ahead — higher risk, higher potential return.
- UK HMRC applies Capital Gains Tax to all three on disposal — keep detailed transaction records.
- You do not have to choose: IG charges zero commission on BTC, ETH and SOL.
- Cryptoassets are highly volatile. Past performance is not a reliable indicator of future results.
Getting started with IG
Open a free account in minutes, with no monthly fees and zero commission on Bitcoin, Ethereum and Solana.
Step 1
Create your account - Open a free IG account online or via the app - takes under five minutes.
Step 2
Fund your account - Deposit from £100 with a debit card, bank transfer, or PayPal.
Step 3
Buy crypto - Search for Bitcoin, Ethereum or Solana, set your amount, and confirm.
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Frequently asked questions
Should I buy Bitcoin or Ethereum first?
Most investors start with Bitcoin because it is the most liquid, most institutionally adopted, and has the clearest value proposition — fixed supply, digital scarcity. Ethereum is typically the second step for investors who want exposure to the smart contract ecosystem. Neither is objectively 'better' — they serve different purposes. The right order depends on your investment goals and risk tolerance. This is not financial advice.
Is Solana safer than Ethereum?
No. Solana is generally considered higher-risk than Ethereum due to its smaller market cap, shorter track record, history of network outages between 2021–2023, and higher price volatility. That said, Solana has been significantly more stable since 2024, and its upcoming Alpenglow consensus upgrade addresses the architectural issues that caused the outages. All cryptoassets are highly volatile.
Do I pay tax on crypto gains in the UK?
Yes. HMRC treats Bitcoin, Ethereum and Solana as cryptoassets and applies Capital Gains Tax (CGT) when you dispose of them — this includes selling for GBP, swapping for another cryptocurrency, or spending them. The annual CGT exempt amount is £3,000 (as of April 2024). Above this, gains are taxed at 18% (basic rate) or 24% (higher rate). Simply buying and holding is not a taxable event. You should keep detailed records of all transactions.
What does zero commission mean on IG?
Zero commission means IG does not charge its own brokerage fee when you buy or sell Bitcoin, Ethereum or Solana. A small external exchange fee of 0.07% applies, charged by IG's liquidity partner. On a £100 BTC purchase, that is 7p. For all other cryptocurrencies on IG, a flat 1.49% fee applies.
What is the ETH/BTC ratio and why does it matter?
The ETH/BTC ratio is the price of one ether divided by the price of one bitcoin. It measures Ethereum's relative performance against Bitcoin, stripping out the broad market moves that affect all crypto simultaneously. As of June 2026, the ratio stands at approximately 0.027 — a 10-month low. A rising ratio means Ethereum is outperforming; a falling ratio means Bitcoin is the stronger performer. Many investors use it to decide how to allocate between the two.
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Past performance is not a reliable indicator of future results.
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