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By NFTevening Team
Key Takeaways
Phantom Wallet is asecure crypto wallet supportingSolana, Ethereum, Bitcoin, and Polygon for managing assets and NFTs.
The wallet features includemulti-chain support, phishing protection, NFT tools, and staking rewards of up to 9% APY on Solana.
It lets you buy crypto, stake tokens, and swap digital assets directly within the wallet app.
Managing crypto can feel overwhelming, especially with so many options and safety concerns. What if one wallet could handle it all – your tokens, NFTs, and even staking rewards? Our Phantom Wallet review dives deep into why this cryptocurrency wallet stands out in 2025. You’ll find everything you need to decide if it’s worth your investment. Stick around to explore its features, security, and usability.
Phantom Wallet is a popular non-custodial wallet designed to make managing your digital assets easy and safe. It started in 2021 and quickly became one of the best wallets, especially for Solana users. In 2024, Phantom is even better because it supports multiple blockchains likeSolana, Bitcoin, Ethereum, and Polygon.
This wallet isuser-friendly and great for both beginners and experienced crypto enthusiasts. You can manage yourtokens, NFTs, and even trade within the app. Phantom’s multichain feature is super handy because you don’t need to switch networks manually. Everything is in one place, making it simple to use.
It includes features like human-readable transaction details, phishing protection, and spam removal tools for NFTs. It’s backed by a strong code audit fromKudelski Security, which is a trusted firm. Plus, it offers abug bounty program to keep hackers in check. All this means you can feel confident about the safety of your funds.
Another thing people love about Phantom is itsstaking feature. You can stake Solana (SOL) to earn rewards while helping to secure the network. For mobile users, the app is smooth and connects to popular Solana platforms likeJupiter and Tensor.
Phantom Wallet started as a Solana-exclusive wallet in 2021 but expanded toEthereum and Polygon networks. Now, it’s a true multi-chain wallet, allowing users to manage tokens across all three blockchains without switching between multiple apps.
This means you can interact with decentralized apps (DApps) and manage your crypto in one unified interface. Phantom also preparingBitcoin and BRC-20 tokens. This multi-chain flexibility is a game-changer for users who want access to DeFi apps, NFTs, and staking opportunities across different ecosystems without hassle.
For NFT enthusiasts, Phantom goes beyond basic storage. The wallet offers a visually appealing gallery where you can display, manage, and even burn unwanted NFTs.
It supports all major NFT file formats, includingvideos and 3D models, and integrates withpopular NFT marketplaces likeMagic Eden and Solanart. You can even set your favorite NFTs as avatars for your wallet, making it personal and engaging.
Phantom ensures spam NFTs don’t clutter your collection. Its spam detection and removal tools, along with metadata insights (like floor prices and sales history), help users maintain an organized and valuable NFT collection.
Phantom makes buying crypto super simple. It connects with services likeMoonPay and Coinbase Pay, which let you purchase popular cryptocurrencies likeSolana (SOL), Ethereum (ETH), and Polygon (MATIC) straight from the wallet. You don’t need a separate app for this.
You can pay using acredit card, a debit card, or even a bank transfer. For example, if you want to buy Solana, just open the app, enter the amount, and make the payment. Your crypto gets added to your wallet within minutes. This feature is great for beginners who don’t know how to use top crypto exchanges likeBinance or Bybit.
Phantom Wallet also lets you trade tokens without needing to leave the app. With the built-in swap feature, you can exchange tokens across three major blockchains:
Phantom uses liquidity fromdecentralized exchanges (DEXs) to give you the best rates possible. For example, if you want to swapUSDC for USDT, you’ll get the most tokens for your money because Phantom looks at all DEXs to find the best price.
The app charges aflat swap fee of 0.85%, which is super low compared to other cryptocurrency wallets. It also supports popular tokens likeRAY and DAI, so you have lots of options to choose from.
With Phantom, you can stake Solana (SOL) and earn up to9% annual percentage yield (APY). This means your crypto can grow even when you’re not trading.
Staking is easy:
Phantom also shows detailed stats for each validator, so you can choose the one with low fees and high rewards. Plus, your staked tokens stay in your wallet, so it’s super safe.
For users who prioritize security, Phantom integrates seamlessly withLedger hardware wallets like Ledger Nano X and Ledger Nano S Plus. This setup ensures your private keys stay offline, significantly reducing hacking risks. You can connect your Ledger to Phantom on browsers likeChrome and Brave, although Firefox support is not yet available.
Setting up Ledger integration is straightforward, but it requires enabling settings like“Allow Blind Signing” on your device. This extra layer of security makes Phantom a preferred choice for users managing large portfolios or sensitive transactions.
Phantom Walletdoes not charge fees directly for creating an account or storing crypto assets. However, the transactions and other activities within the wallet may involvethird-party or blockchain-related charges.
When you make transactions on the Solana blockchain through Phantom, you pay asmall network fee. This is necessary for processing and securing transactions. This fee is usually very low compared to other blockchains like Ethereum.
For instance, Solana network fees typically range around $0.0025 per transaction, making it an affordable option for users who perform frequent transactions. These fees go directly to the blockchain validators who confirm and secure the transactions.
Phantom’s in-app swapping feature is another convenient way to trade between tokens. When you use this feature, you pay a fee that includesthe network fee and any associated costs from liquidity providers.The Phantom app charges a flat swap fee of 0.85%. The total cost depends on the liquidity pool and the tokens being swapped.
Phantom Wallet also supports swapping Ethereum-based tokens, and in this case, the gas fees for the Ethereum network apply. Ethereum gas fees can vary widely depending on the network’s congestion.
For example, during high demand, these fees can range from $10 to over $100 per transaction.
For buying crypto directly through Phantom using fiat (like USD), third-party providers such asMoonPay, Coinbase, or others handle the payment process.
These providers charge their ownprocessing fees, which can vary based on the payment method you use(e.g., credit card, bank transfer) and your location. These fees are displayed transparently during the purchase process.
Here is a simple guide to help you get started with the Phantom Wallet extension for your browser.
Step 1: Downloading Phantom Extension
First, open your web browser. Then, go to the officialPhantom website,phantom.app. This website is safe and always has the latest version. Choose your browser from the options, likeChrome, Firefox, or Edge.
Next, follow the instructions on the extension store. Click“Add to Browser” or a similar button to install the extension. After it’s done installing, Phantom will open in a new tab. If it doesn’t open, you can find it by clicking the little puzzle icon in the top-right of your browser, where all your extensions are listed. You can pin Phantom so it’s always easy to see.
Step 2: Setting Up Your Wallet for the First Time
When Phantom opens, click on“Create New Wallet”. You’ll need to make a strong password. This password is for this browser only, so use something unique but easy for you to remember. Once you type your password, click“Continue”.
Now, Phantom will show you a very important thing called yourSecret Recovery Phrase. This phrase has12 random words and is like the key to your wallet. Write it down carefully and keep it safe.
Do not share it with anyone, not even Phantom support. If someone gets your phrase, they can take your money. After writing it down, click“Continue” again.
Step 2 (Re): If You Already Have a Wallet
If you already have a Phantom wallet, you don’t need to make a new one. Instead, click “I Already Have a Wallet”. Type your Secret Recovery Phrase to bring back your old wallet. Once you do this, Phantom will ask you to make a new password. This password is just for the browser you’re using now.
Want to use Phantom Wallet on your phone? It’s super easy to set up. Whether you’re using an iPhone or Android, here’s how to get started.
Step 1: Downloading Phantom for Mobile
Go to the official Phantom website, phantom.app, on your phone. Click the link to your app store (App Store for iPhone or Google Play for Android). This way, you’ll make sure you download the real Phantom app.
Once you find it, tap“Install”. After it finishes, open the app. You’ll see the Phantom welcome screen.
Step 2: Creating a New Wallet on Mobile
If this is your first time using Phantom, tap“Create New Wallet”. Phantom will ask if you want to enable biometric security. This means you can unlock your wallet with your fingerprint or face. It’s a great feature, so we recommend turning it on. Next, Phantom will show you your Secret Recovery Phrase. Follow similar desktop version steps.
Phantom mobile also gives you handy notifications. Turn them on to see updates about your wallet, like when you get new crypto or NFTs. You can manage these alerts inSettings > Notifications anytime.
Here’s a step-by-step guide on how to swap and buy cryptocurrency, designed for both desktop and mobile Phantom Wallet users:
Note: To buy crypto on Phantom, choose the cryptocurrency, Phantom supports payment services likeMoonPay and Coinbase. Select your preferred provider and proceed. If you’re using the service for the first time, you might need to set up an account or log in.
In conclusion, Phantom Wallet offers a winning combination of features, security, and usability. Its multi-chain support, robust NFT capabilities, and user-friendly interface make it a strong contender in the crypto wallet space. Whether you’re staking SOL for rewards, showcasing NFTs, or simply holding assets, Phantom ensures a smooth and secure experience.
For users already invested in Solana, Ethereum, or Polygon ecosystems, Phantom is a no-brainer. Its rapid innovation and focus on security suggest it will continue to grow as a go-to wallet for Web3 users. If you’re considering upgrading your current wallet, Phantom is definitely worth a shot in 2024.
Phantom is a secure wallet for managing your crypto and NFTs. It is anon-custodial wallet, meaning only you control your private keys and funds. The wallet implements several layers of security, includingscam detection that flags suspicious transactions and malicious activity. Phantom also uses anopen-source blocklist to protect users from phishing websites.
Plus, the wallet doesn’t collect any personal information, ensuring your privacy. It is regularly audited byKudelski Security, a trusted software auditing firm. To further enhance safety, Phantom supportshardware wallets like Ledger Nano X, adding another layer of protection for your assets.
Its code is continuously improved based on feedback and contributions from the developer community. Over7 million users worldwide trust Phantom for its strong security practices and reliable customer support team, which is available 24/7.
Phantom Wallet is often regarded as the best wallet for Solana due to its seamless user experience and extensive features. It was originally built specifically for the Solana blockchain and has been refined over years of development.
Phantom makes it easy tostore, swap, and stake Solana tokens while also managingSolana-based NFTs. The wallet’s integration withdApps (decentralized applications) on the Solana network is effortless, allowing users to explore various DeFi platforms and NFT marketplaces.
Phantom Wallet supports four major blockchains:Solana, Ethereum, Bitcoin, and Polygon. This multichain functionality allows users to manage assets across these networks in one place without needing multiple wallets.
Phantom stands out for its ease of use, focus on NFTs, and best-in-class features forSolana. If you primarily interact with the Solana blockchain, Phantom is the clear choice. It offers faster transaction speeds and lower fees compared to Ethereum-based transactions on MetaMask.
On the other hand, MetaMask is widely regarded as the go-to wallet forEthereum and its ecosystem. It supports a broader range of Ethereum-based applications and tokens. However, Phantom has recently introducedEthereum and Polygon support, making it a competitive option for users who engage with multiple chains.
Both wallets are secure and allowhardware wallet integration for added safety. Phantom is generally praised for itsuser-friendly interface and Solana NFT management capabilities, while MetaMask’s strength lies in its versatility across EVM-compatible chains likeBNB smart chain, Aptos, Arbitrum, and more.
Disclaimer
NFTevening is an award-nominated media outlet that covers NFTs and the cryptocurrency industry. Opinions expressed on NFTevening are not investment advice. Before making any high-risk investments in cryptocurrency or digital assets, investors should conduct thorough research. Please be aware that any transfers and transactions are done at your own risk, and any losses incurred are entirely your responsibility. NFTevening does not endorse the purchase or sale of any cryptocurrencies or digital assets and is not an investment advisor. Additionally, please note that NFTevening participates in affiliate marketing.
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