Phantom Wallet is a versatile, non-custodial cryptocurrency wallet that originally launched on Solana but now supports Ethereum, Polygon, Bitcoin, and other major blockchain networks. It offers a user-friendly interface combined with powerful features like token swaps, staking, and NFT management, making it a popular choice among both beginners and experienced crypto users.
Built with security and accessibility in mind, Phantom includes encryption, biometric authentication, and hardware wallet integration. While it simplifies interactions with decentralized applications (DApps), users remain in full control of their private keys and seed phrases.
Whether you're exploring decentralized finance, collecting NFTs, or managing a multi-chain portfolio, Phantom provides the tools needed to navigate the crypto space confidently.
What Is Phantom Wallet?
Phantom is a non-custodial cryptocurrency wallet that initially gained popularity within the Solana ecosystem. It allows users to store, send, and receive digital assets, interact with DApps, stake tokens, and manage NFTs—all through an intuitive and visually clean interface.
Since its founding in January 2021 by a team of engineers and product specialists, including CEO Brandon Millman and CTO Francesco Agosti, Phantom has expanded significantly. It now supports multiple blockchains and has attracted a large and active user base.
As of early 2025, Phantom supports over 150 million monthly active users and facilitates billions of dollars in transactions. It has become a cornerstone of the decentralized web for Solana, Ethereum, and Polygon users.
Key Features of Phantom Wallet
Phantom is designed for simplicity without sacrificing functionality. Below are some of its most notable features:
- Multi-Chain Support: Manage assets across Solana, Ethereum, Bitcoin, Polygon, Base, and Sui from a single wallet.
- Built-In Token Swap: Exchange tokens directly within the wallet using integrated decentralized exchange aggregators.
- NFT Gallery: View, send, receive, and manage NFTs without leaving the wallet.
- Staking Options: Stake SOL directly within Phantom to earn rewards and contribute to network security.
- DApp Connectivity: Connect seamlessly to popular decentralized applications across supported blockchains.
- Security Protocols: Includes encryption, biometric authentication, and compatibility with Ledger hardware wallets.
How to Set Up Phantom Wallet
Setting up Phantom Wallet is straightforward and available on both desktop and mobile devices.
For Desktop Users
Step 1: Install the Browser Extension
Visit the official Phantom website and download the extension for Chrome, Firefox, Brave, or Edge.
Step 2: Create a New Wallet
Click "Create New Wallet," set a strong password, and proceed to the next step.
Step 3: Secure Your Recovery Phrase
Write down the 12-word seed phrase provided and store it securely offline. This phrase is essential for wallet recovery.
Step 4: Access Your Wallet
Pin the Phantom extension to your browser toolbar for easy access. Click the icon to open your wallet dashboard.
For Mobile Users (iOS & Android)
Step 1: Download the App
Get the Phantom app from the Apple App Store or Google Play Store.
Step 2: Create a New Wallet
Open the app, select "Create New Wallet," and enable biometric authentication like Face ID or fingerprint recognition.
Step 3: Backup Your Seed Phrase
Carefully note your recovery phrase and store it in a secure location. Never share it with anyone.
Step 4: Start Using Your Wallet
Once set up, you can send, receive, and manage assets directly from your mobile device.
👉 Explore secure wallet setup tips
How to Use Phantom Wallet
Once your wallet is ready, you can perform a variety of actions:
- Receive Funds: Tap "Receive" to display your wallet address or QR code. Use this to deposit tokens from exchanges or other wallets.
- Send Crypto: Select "Send," enter the recipient’s address, choose the asset and amount, and confirm the transaction.
- Swap Tokens: Use the built-in swap feature to exchange one token for another without leaving Phantom.
- Manage NFTs: View and interact with your NFT collection in the dedicated tab.
- Stake SOL: Delegate SOL to validators and earn staking rewards over time.
- Connect to DApps: When browsing supported decentralized applications, click “Connect Wallet” and select Phantom to link your account.
Understanding Gas Fees on Phantom
Transaction fees vary depending on the blockchain:
- Solana: Transactions typically cost between $0.00025 and $0.002, making it very affordable.
- Ethereum: Fees can range from a few dollars to over $50 during periods of high network congestion.
- Polygon: Transactions usually cost less than $0.10 each.
Phantom automatically suggests optimal gas fees to avoid overpaying. Users must hold enough of the blockchain’s native token (e.g., SOL, ETH, or MATIC) to cover transaction costs.
Security Best Practices
Protecting your digital assets is essential. Follow these guidelines:
- Never share your seed phrase with anyone.
- Use a strong, unique password and enable biometric authentication.
- Only connect to verified and reputable DApps.
- Keep your wallet software updated to the latest version.
- Consider using a hardware wallet for additional security.
Staying vigilant against phishing attempts and scam websites is crucial for long-term safety.
Frequently Asked Questions
Is Phantom Wallet free to use?
Yes, Phantom is free to download and use. However, standard blockchain network fees (gas fees) apply for transactions.
Can I use Phantom on multiple devices?
Yes, you can access your wallet on both desktop and mobile devices by restoring it with your seed phrase.
What happens if I lose my seed phrase?
Without your recovery phrase, you cannot restore access to your wallet or funds. Store it securely offline.
Does Phantom support Bitcoin?
Yes, Phantom now supports Bitcoin, along with Ethereum, Solana, Polygon, and other networks.
Can I stake other coins besides SOL?
Currently, staking is only available for SOL on the Solana network directly within Phantom.
How do I update Phantom Wallet?
Updates are automatic for mobile apps. For browser extensions, updates usually apply when you restart the browser or manually check for extensions updates.
Phantom Wallet combines ease of use with powerful functionality, making it an excellent choice for managing cryptocurrencies and digital collectibles across multiple blockchains. By following best security practices and understanding its core features, you can make the most of this versatile tool.