Phantom Wallet is the most popular cryptocurrency wallet on Solana. So how do you use Phantom Wallet? Let’s find out together with Tonraffles in this article!
Table of Contents
What is Phantom Wallet ?
Phantom Wallet is a cryptocurrency wallet originally designed and developed for the Solana ecosystem, allowing users to interact with Solana-compatible dApps such as Magic Eden, Raydium, and Marinade. Established in 2021 by Brandon Millman, Francesco Agosti, and product designer Chris Kalani, the project achieved a valuation over $1 billion upon completing a Series B funding round in January 2022.
Phantom Wallet is compatible with popular browsers like Chrome, Brave, Firefox, and Edge, and is available on both the Apple App Store and Google Play Store. In November 2022, Phantom Wallet announced a partnership with Polygon to expand support to both Polygon and Ethereum.
Using Phantom Wallet
Downloading the Wallet:
Access the wallet by adding it to Chrome here.
Installing the Wallet:
Select “Create a new wallet.”
Enter a password and click “Continue.”
Save a 12-character backup phrase and click “Continue.”
Click “Get Started” to complete the setup.
Depositing Funds:
Go to “Account” and obtain the wallet address you wish to use.
Deposit funds. Phantom Wallet supports multiple blockchains including Ethereum, Solana, and Polygon.
Withdrawing Funds:
Click “Send.”
Choose the type of token you want to withdraw.
Enter the wallet address and amount, then click “Next.”
Review the information and click “Send.”
Swapping Tokens:
Select the swap icon.
Choose the token pair and enter the amount you wish to trade, then click “Review Order.”
Click “Swap.”
Checking Transaction History:
Select the history icon to view your transaction history.
Staking SOL:
Select the Solana token.
Click “Start earning SOL.”
Choose a validator.
Enter the amount of SOL you wish to stake and click “Stake.”
Summary
Phantom Wallet is the most widely used cryptocurrency wallet on Solana and has expanded to support Polygon and Ethereum. This guide aims to provide you with essential information about the project and how to use Phantom Wallet effectively.
