Phantom wallet beginners guide
Easiest guide to using the Solana web3 wallet. Here in this tutorial we’ll show you how to setup Phantom wallet and how you can use it to send, receive, stake and swap tokens on the Solana blockchain. Additionally we’ll also show you how to connect the Phantom wallet to Solana Dapps and explain how you can connect your Ledger hardware wallet to Phantom.
Now before we get into the guide here is a little bit information about Solana and the Phantom wallet in case you are new.
Solana is one of the fastest growing ecosystem in the crypto space. Similar to Ethereum; Solana also offers a vast array of DApps and DeFi (Decentralized Finance) solutions.
You have Solana Name Service similar to ENS (Ethereum Name Service), DeFi exchanges, Dapps and NFT marketplace such as Solana Art where you can buy or mint your own NFTs. There are even many play-to-earn Metaverse games on the Solana ecosystem.
To name some here are some of the popular projects on the Solana network.
Raydium, NFT Rarity, Serum, Solape swap, Solanart, Star Atlas, Ninja game, Aurory project and Solana Monkey Business.
So many companies, developers, gamers and artists are using the Solana ecosystem at the moment to build their projects. The reason is mainly because Solana is a highly scalable, fast and an efficient blockchain.
Now to access the Solana platform and to get involved with projects on the Solana ecosystem you need a Solana wallet. Solana has many popular wallets like Solflare, Sollet, Solong, Slope and Phantom. But the best one is the Phantom wallet. Not only its the best Solana wallet but it is one of the best crypto wallets out there.
Previously we’ve made a guide on the Solana SPL token wallet called Sollet. It is an open source web wallet for advanced users and developers.
For the best Solana user experience and support, it is recommended to use Phantom wallet.
If you’ve traded on Ethereum or used the Binance Smart Chain then you’ll be familiar with Metamask – A simple, nice and clean browser extension. Now Phantom wallet is similar to Metamask except it has some extra built in features like for example: it has a separate tab where you can view and mange all your Non Fungible Tokens (NFTs). You can even view and inspect the 3 dimensional assets such as in game collectibles right from your wallet. The wallet fully renders both JPEGs and 3d in game assets. How cool is that?
Phantom is a non custodial crypto wallet of the Solana blockchain. This wallet allows you to manage digital assets and lets you access the world of decentralized applications on the Solana network. Using Phantom wallet you can store, send, receive, stake, swap tokens on the Solana blockchain.
Also you can interact with decentralized finance (DeFi) apps, exchanges, Non-fungible token (NFT) platforms, and games on the Solana blockchain.
This wallet is readily available as a browser extension which you can install it on Firefox, Microsoft Edge, Google Chrome and Brave browsers.
It has a smooth and modern user interface that is very similar to the alternative web3 wallet metamask. You can turn any of your favorite browser into a Web3 enabled crypto wallet.
Phantom was only available as a browser extension initially. But now it is also available for the iPhone which you can download it from the App store. Everything you can do on desktop, you can now do it in your pocket.
Install the Phantom wallet on your iPhone to store assets and access dApps on the Solana blockchain. Using your mobile wallet application you can deposit, transfer, stake, and swap assets on Solana easily. Not only Solana but in the near future it’ll even have support for other blockchains.
Phantom makes it safe & easy for users to store, send, receive, stake, and swap tokens on the Solana blockchain. It unlocks a simple and secure way to interact with blockchain-based decentralized applications directly from your web browser.
Here are some of the notable feature of the Phantom wallet – A non custodial wallet that allows you to send, receive, collect NFTs and swap tokens.
Web3 Support – Just like now metamask is for Ethereum; Phantom is for Solana. You can explore the world of decentralized blockchain applications built on Solana.
NFTs and Collectibles – Phantom wallet has a special tab that lets you take care of your NFTs.
Token Swaps – Has its own built-in DEX (Decentralized Exchange) so you can safely swap tokens at the best prices, instantly.
SOL Staking – You can earn rewards by staking SOL (Solana) directly inside your wallet.
Ledger Support – To enhance the security you can also connect your Phantom wallet to your hardware wallet such as Ledger.
Phantom currently only supports the Solana ecosystem. But in the near future you can expect it to work with Ethereum and other blockchains. The developers are working on making the Phantom Wallet a multi-chain wallet.
Alright! Let’s now see how to create Phantom wallet and use it to store and mange Solana tokens and NFTs.
Creating Phantom Wallet: A step by step guide. Follow the guide below to install and use the Phantom wallet.
Note: Phantom is a free application which is available as browser extension on desktop and for iPhone. However the following guide is only for desktop users which shows you how to install the Phantom extension on your browser and turn it into a web3 crypto wallet.
Phantom is similar to metamask in terms of functionality and usability. Also it is super simple to setup and use. Let’s get started by installing the extension.