Phantom

Introduction

Phantom is a popular non-custodial cryptocurrency wallet. And it was originally built specifically for the Solana blockchain. Phantom allows users to securely store, send, receive, stake, and swap SOL and SPL tokens. As well as interact with Solana-based NFTs and dApps.

But today, Phantom has expanded its functionality to support Ethereum, Polygon, Bitcoin, Base, and Sui. Making it a powerful multichain Web3 wallet. Users can now manage assets, access dApps, and interact with NFTs across all these ecosystems.

The Beginning

The Phantom team was founded in January 2021 by engineers and designers. And of course, the former founders who wanted to make crypto accessible for the next billion users. From its very start, their goal was to combine secure wallet functionality with thoughtful design. That's to enhance the everyday crypto experience.

Key Features

Non-Custodial Security

• You control your private keys and funds, not Phantom.
• Supports hardware wallets like Ledger for extra protection.

Token Management

• Store, send, and receive SOL and SPL tokens.
• Automatically detects and displays tokens in your wallet.

Built-in Swap Functionality

• Swap between SOL and other tokens directly inside the wallet.
• Powered by Solana-based DEXs like Raydium and Jupiter.

NFT Support

• Native support for Solana NFTs.
• View, send, and manage NFTs in a dedicated gallery.
• Shows metadata and images directly in the wallet.

Web3 dApp Integration

• Seamlessly connect to Solana dApps (like Magic Eden, Drift, Jupiter).
• One click wallet connection through in-browser and in-app prompts.

Staking SOL

• Stake SOL directly inside Phantom to earn up to 9% APY.
• You can choose your preferred validator with easy to understand metrics.

Cross Platform Access

• Access your account on Chrome, Firefox, or Edge via browser entension.
• Mobile apps for iOS and Android with full functionality.

User Privacy & Security

• Biometric authentication on mobile.
• Auto-lock and password protection.
• Encrypted backup and secure key management.

Fast & Low Cost Transactions

• Because it is built on Solana, the transfers is almost instant, and low-fee.

How It Works

Phantom wallet works by giving you a secure, non-custodial wallet that connects directly to the Solana blockchain. After you have installed the browser extension, or mobile app, you can either create a new wallet or you may choose to import your existing wallet using a seed phrase.

Once set up, you can now deposit SOL or other SPL tokens into your wallet address. From there, Phantom acts as a gateway to the Solana ecosystem. You can easily send, or receive tokens, stake SOL for rewards, or swap tokens using built-in DEX integration. You can even connect to Solana-based dApps in just a few clicks.

The wallet also automatically detects new tokens and NFTs, displaying them in an organized interface. With features like biometric login (on mobile), hardware wallet support, and in-wallet transaction approvals.

Phantom makes it easy for users to securely manage and interact with their digital assets.

Why It Matters for Solana Users

Phantom is a cornerstone of the Solana ecosystem, offering an essential tool for anyone looking to explore, invest, or build within it.

For stakers, Phantom makes staking SOL straightforward, allowing users to delegate to validators and earn rewards directly from the wallet.

For traders, since it is powered by Solana, you can expect the trades are fast and low-cost. And because of its built-in token swap feature, you can swap token without needing to leave the app.

NFT collectors and creators benefit from native NFT support, making it easy to view, send, or list digital assets.

For dApp explorers and DeFi users, Phantom simplifies the process of connecting to platforms like Magic Eden, Jupiter, and Drift. Acting as the bridge between users and the broader Solana Web3 landscape.

Its ease of use, strong security, and rich features set make Phantom not just a wallet, but a vital access point for everything Solana has to offer.

How to Use It

Step 1. Download the Wallet

Visit https://phantom.app. Click on "Download", and choose either the browser extension (Chrome, Firefox, Edge, Brave) or mobile app (iOS, Android), then install it.

Step 2. Create or Import Wallet

Click "Create a New Wallet" to generate a new one. You can either "Continue with Email" or "Create a seed phrase wallet". Creating a seed phrase is probably the most secure method, just remember to securely save your secret recovery phrase.

If you already have a wallet, you can choose "I already have a wallet" and start importing.

If you choose to create a new wallet, then need to create your password (this will be used to unlock your wallet). And lastly, save the Recovery Phrase > Create Username > Continue.

Step 3. Fund Your Wallet

You can either "Buy Sol with Cash" (via Debit/Credit Card) or "Transfer Crypto" from an exchange or another wallet. Just click on Receive and copy your Solana wallet address.

Step 4. Explore Key Features

• Send/Receive Tokens: Use the Send and Receive buttons
• Swap: Instantly trade tokens using the built-in swap tool
• Staking: Stake your SOL and start earning rewards
• NFT Gallery: View, send, and manage Solana NFTs

Step 5. Connect to dApps

• Visit any Solana-compatible dApp (like Magic Edene, Drift, or Jupiter)
• Click Connect Wallet and choose Phantom

Milestones