Phantom Wallet Extension | Official Website

No doubt, crypto wallets are one of the greatest developments after the innovation of cryptocurrencies in the marketplace. Nothing else could guarantee the security of our crypto assets just like a crypto wallet does. But, the presence of a wide range of crypto wallets calls in for some challenges. You cannot just pick any wallet randomly. However, choosing a popular wallet is always recommended. 

But, do you know that some specific wallets have been developed for some specific crypto assets? 

Just like MetaMask has been built for Ethereum-based crypto tokens, Phantom Wallet has been developed for storing and managing Solana-based crypto assets. Yes, you read that right. Phantom is a Solana-friendly wallet that works well on different operating systems/devices. 

Want to take a closer look at this wallet? Let's go... 

Keeping it precise, one should note that Phantom is a non-custodial crypto wallet that comes with a user-friendly interface and offers a secure environment to users for safeguarding their crypto assets. Not just that, this platform allows users to interact with a wide range of blockchain networks present in the Solana ecosystem. 

Another great thing about Phantom is the fact that it works in great harmony on desktops and mobile devices. On desktops, you can install the Phantom extension. Meanwhile, on smartphones, you can install the Phantom Wallet mobile application available for iOS and Android users. This Web 3.0 crypto wallet stores your private keys on your device taking them far away from the reach of hackers. 

What caught my eye while using the wallet is the fact that it comes with dynamic features. Want to know about those features? Check out the details below. 

Still doubtful whether or not you should use this wallet? 

Well, being doubtful opens the gateway for more scrutiny on the part of users. Hence, we are presenting to you some of the most beneficial aspects of this wallet which are listed below: 

• Fully Non-Custodial- This feature hints towards the fact that you are in complete control of your crypto assets and the security of your private keys lies in your hands. This means, no third party has access to your assets. 

• Swapping- Within the Phantom wallet there's a DEX which gives you the opportunity to swap your crypto assets directly on the Solana blockchain without wandering here and there. 

• Access Solana NFTs-  This is yet another impressive feature of the Phantom Wallet that shows support for Solana NFTs. 

• Ledger integration- As we know hardware wallets are counted as the most secure crypto wallets, hence, Phantom also allows you to sync your wallet with Ledger Nano X. 

• Web3 Accessibility- Phantom Wallet allows you to access a wide range of decentralized applications including Audius, Soldate, Apexit, etc. from within the wallet interface. 

There's no rocket behind the installation of the Phantom extension. Wondering what the process looks like? 

I'll show you what I mean. Just continue with the steps listed below: 

1. Open one of the said browsers and go to https://phantom.app/ 

2. Hit the DOWNLOAD button at the top 

3. Choose your browser icon- Brave, Chrome, Edge or Firefox 

4. If on Chrome, choose ADD TO CHROME 

5. Click ADD EXTENSION 

That's all dear readers!!! Yes, that's how easily you can install the Phantom Wallet browser extension on your device. In case you are using a mobile device, you can straightaway head to the https://phantom.app/download website, scroll to the "Download for Mobile" section, and choose your application store icon. 

Staking is one of the most beneficial aspects that has been linked with Phantom Wallet. By "Staking" we mean lending or locking our assets for some period which ultimately earns us rewards in the form of crypto. Hence, if your wallet contains some assets lying idle, then you must put them to work by staking them. Here's how the stress-free staking process looks like: 

IMPORTANT: The rewards that you get will be based on the validator that you have chosen during the staking process. 

1. Make sure your Phantom wallet has been funded with some SOL tokens 

2. Now, click on your available Solana balance 

3. Place your cursor on Start Earning SOL 

4. Your screen will now display various validators along with their APYs 

5. After choosing your preferred validator, choose Stake 

6. Choose the staking amount 

What cryptocurrencies are supported by Phantom Wallet? 

As we have mentioned in the introductory part of this write-up, Phantom extension does support all those crypto assets that are developed on the Solana ecosystem. If you want me to list all those crypto assets, here is the list: 

• USDT 

• USDC 

• Serum 

• Raydium 

• Solana 

And the great piece of news is that the wallet will soon provide support for some more crypto assets. 

Using Phantom Wallet or any of its features isn't stressful at all. Even if you are stepping into the crypto economy for the very first time, it would seem like a child's play to you. After all, we have decoded all the tough procedures right here in this article and you're certainly going to get a lot of assistance from this read. 

Isn't it??? 

How to create a new wallet on Phantom? 

Simply open the Phantom extension or the app, choose the option to "Create a new wallet" and add a password for the wallet's security. When the screen displays the Seed Phrase, note it down safely and your wallet is ready. 

Is Phantom Wallet safe? 

The wallet's code has been developed by one of the top software auditing firms named as Kudelski Security and we cannot forget that it is a non-custodial wallet. Your private keys are completely encrypted and are stored on your device which means hackers cannot access the keys easily. 

Can I store Bitcoin on Phantom?

Phantom only supports tokens from the Solana ecosystem and we know that Bitcoin is not developed in this ecosystem. So, unfortunately, you cannot store BTC on it. 

Is Phantom an open-source wallet? 

Well, Phantom does not have its GitHub repository and is operating in the beta version. This means that the Phantom wallet is not an open-source wallet.