Phantom Wallet Guide

Install Phantom

Download Options:

• Browser Extension: Chrome, Firefox, Brave, Edge
• Mobile App: iOS and Android

Installation Steps:

1. Go to phantom.app (type directly!)
2. Click "Download" and select your browser/platform
3. Install the extension or app
4. Pin Phantom to your browser toolbar for easy access

Why Phantom:

• Best Solana wallet experience
• NFT gallery built-in
• Swap tokens directly in wallet
• Also supports Ethereum and Polygon
• Fast and beautiful interface

Create Your Wallet

1. Click the Phantom icon
2. Select "Create a new wallet"
3. Write down your 12-word recovery phrase
4. Store recovery phrase securely (paper, not digital!)
5. Confirm by selecting words in order
6. Create a password for this device
7. Complete setup!

Security Settings to Enable:

• Set auto-lock timer (5 min recommended)
• Enable biometrics on mobile
• Review trusted apps regularly

Add SOL & Tokens

Getting SOL into Phantom:

1. Click "Receive" or copy your Solana address
2. Buy SOL on an exchange (Coinbase, Binance)
3. Withdraw to your Phantom address
4. Wait 1-2 minutes for confirmation

Or Buy Directly in Phantom:

1. Click "Buy"
2. Choose payment provider (MoonPay, etc.)
3. Enter amount and complete purchase

Adding SPL Tokens:

Phantom auto-detects most tokens. For custom tokens:

1. Click the plus icon in token list
2. Search for token or paste mint address
3. Add to wallet

Using Solana DeFi & NFTs

Built-in Features:

• Swap - Trade tokens directly in Phantom
• Stake - Stake SOL for ~6-8% APY
• NFT Gallery - View all your Solana NFTs

Popular Solana dApps:

• Jupiter - Best DEX aggregator (jup.ag)
• Raydium - AMM and yield farming
• Magic Eden - NFT marketplace
• Marinade - Liquid staking

Connecting to dApps:

1. Go to the dApp website
2. Click "Connect Wallet"
3. Select Phantom
4. Approve connection in Phantom popup

Staking SOL in Phantom:

1. Click your SOL balance
2. Click "Start earning SOL"
3. Choose stake amount
4. Phantom auto-selects good validators
5. Confirm and stake!

Common Phantom Mistakes

Mistake 1: Downloading Fake Phantom Extensions

In September 2023, fake Phantom extensions appeared in Chrome Web Store. Downloaded over 9,000 times before removal. All stole seed phrases during "setup." Always start from phantom.app - never search directly in browser stores. Verify publisher shows exactly "Phantom" with millions of users.

Mistake 2: Wrong Network (Solana vs Ethereum)

Phantom supports both Solana and Ethereum. In December 2024, user sent SOL to their Ethereum address in Phantom. Funds appeared lost (different networks, different addresses). $12,000 stuck. Each network has separate address - check you're on correct one before sharing address.

Mistake 3: Trusting Random NFT Mints

Solana's low fees mean scam NFT mints are everywhere. In August 2024, "Magic Eden V2" fake mint (looked like real Magic Eden) drained wallets when users approved transactions. Over $2.8 million stolen from 1,200 victims. Only mint from verified links.

Mistake 4: Ignoring Slippage Settings

When swapping in Phantom, default slippage is 1%. For volatile or low-liquidity tokens, this causes failed transactions. Users retry multiple times, paying fees each attempt. In November 2024, a user lost $340 in failed transaction fees before increasing slippage to 3%. Check slippage before swapping.

Mistake 5: Not Checking Transaction Fees During NFT Mints

Popular NFT drops can spike fees 100x. In March 2024, a hyped mint saw users paying 0.5 SOL ($75 at the time) per transaction attempt. Failed transactions still cost fees. One user spent $800 in fees and never got the NFT. Check current network fees before minting.

Advanced Phantom Features

Phantom's Multi-Chain Support

Phantom added Ethereum and Polygon support in 2023:

Network	Transaction Speed	Typical Fee	Best For
Solana	400ms	$0.0002	Trading, NFTs, DeFi
Ethereum	12 seconds	$2-15	Blue chip DeFi, NFTs
Polygon	2 seconds	$0.01-0.10	Gaming, cheap DeFi

Switch networks: Click network name (top) → Select network → Your addresses update automatically.

Built-In Swap Features

Phantom uses Jupiter aggregator on Solana (finds best prices across 20+ DEXs):

Swap Settings to Adjust:

• Slippage tolerance: 0.1% (stable pairs) to 5% (volatile/new tokens)
• Price impact: Phantom warns if over 5% (you're moving the market)
• Route optimization: Auto-finds best path (might split across multiple DEXs)
• Direct route: Forces single DEX (faster but might be worse price)

When Swaps Fail:

• Insufficient SOL for fees (need ~0.001 SOL minimum)
• Slippage too tight (price moved during transaction)
• Liquidity too low (increase slippage or trade smaller amount)
• Network congestion (wait or increase priority fee)

Staking SOL in Phantom

Phantom makes staking easy with automatic validator selection:

Staking Process:

1. Click SOL balance → "Start earning SOL"
2. Enter amount to stake (leave 0.05 SOL for fees)
3. Phantom selects high-performance validators
4. Confirm transaction
5. Rewards appear daily (paid in epochs - ~2 days)

Staking vs Liquid Staking:

Method	APY	Liquidity	Unlock Time
Native Staking	~7%	Locked	2-3 days
Marinade (mSOL)	~6.5%	Immediate	Instant (sell mSOL)
Lido (stSOL)	~6.3%	Immediate	Instant (sell stSOL)

Native staking: Higher rewards, but locked for days. Liquid staking: Slightly lower rewards, but you get tokens you can trade immediately.

NFT Management in Phantom

Phantom's NFT features are among the best mobile wallets:

Built-in NFT Actions:

• View: Gallery view with metadata
• Send: Transfer to other wallets
• List: Direct listing to Magic Eden
• Hide: Hide spam NFTs (Solana gets a lot)
• Verify: Check collection verification status

Protecting Against NFT Scams:

Solana's low fees mean spam NFTs are rampant. In October 2024, "airdrop" NFTs with malicious links cost users $1.4 million:

• Never click links in NFT descriptions
• Hide unknown NFTs immediately
• Verify collection on Magic Eden before trusting
• Check creator address matches known official address

Browser Extension vs Mobile App

Feature	Browser Extension	Mobile App
Trading	Better (larger screen)	Good enough
DeFi Access	Extensive (desktop dApps)	Limited (mobile dApps)
Security	Good (OS-level)	Better (biometrics)
NFT Viewing	Good	Better (touch interface)
On-the-Go	No	Yes

Power users run both: Extension for trading/DeFi, mobile for checking balances and NFTs.

Solana DeFi with Phantom

Top Solana DApps (2026)

Jupiter - DEX Aggregator

Best place to swap Solana tokens. Checks prices across 20+ exchanges automatically.

• URL: jup.ag
• Best for: Any token swaps
• Fee: 0.2% to liquidity providers
• Unique feature: Limit orders (advanced)

Raydium - AMM & Farms

Provide liquidity, earn fees + RAY tokens.

• URL: raydium.io
• Best for: Yield farming
• APYs: 10-200% (higher = riskier)
• Risk: Impermanent loss on volatile pairs

Marinade Finance - Liquid Staking

Stake SOL, get mSOL you can trade/use in DeFi while earning staking rewards.

• URL: marinade.finance
• Best for: Earning on SOL without locking
• APY: ~6.5%
• Use mSOL in other DeFi for double rewards

Magic Eden - NFT Marketplace

Largest Solana NFT marketplace. 90%+ of volume.

• URL: magiceden.io
• Best for: Buying/selling Solana NFTs
• Fee: 2% (negotiable for collections)
• Features: Launchpad, rarity tools, portfolio tracking

Drift Protocol - Perpetuals

Trade used positions on Solana.

• URL: drift.trade
• Best for: Experienced traders only
• Use: Up to 10x
• Warning: Liquidation risk (can lose everything)

Phantom Troubleshooting

Transaction Failing Repeatedly

Common on Solana during high congestion:

1. Click Settings (gear icon)
2. Advanced → Priority Fee
3. Change from "Average" to "Fast" or "Turbo"
4. Try transaction again

Priority fees on Solana: Average (0.00005 SOL), Fast (0.0001 SOL), Turbo (0.0005 SOL). Even "Turbo" is under $0.10 at 2026 prices.

Balance Showing $0 but Tokens Exist

Phantom sometimes fails to fetch prices:

• Pull down to refresh
• Check network status (Solana occasionally has issues)
• View on Solana explorer (solscan.io) to verify actual balance
• Update Phantom to latest version
• If explorer shows balance, it's just display issue in Phantom

Can't Connect to dApp

If Phantom won't connect:

1. Refresh the dApp page
2. Disconnect wallet in Phantom settings first
3. Try connecting again
4. Check dApp supports Phantom (most Solana dApps do)
5. Try different browser if using extension

Wallet Address Changed After Recovery

If you recovered wallet and address is different:

• Phantom uses derivation path m/44'/501'/0'/0'
• If you set up as "new wallet" instead of "recover," new seed was generated
• Delete wallet, select "Import," enter original seed phrase carefully
• Verify recovered address matches original (check old transactions)

Phantom vs Solflare vs Backpack

Feature	Phantom	Solflare	Backpack
Interface	Beautiful, simple	Functional	Modern
Networks	SOL, ETH, Polygon	Solana only	Solana only
Built-in Swap	Yes (Jupiter)	Yes	Yes (xNFT)
Mobile App	Excellent	Good	Mobile-first
Unique Feature	Best UX	Hardware wallet support	xNFT apps
Best For	Most users	Power users	Early adopters

Phantom wins on user experience and multi-chain support. Solflare better for advanced features. Backpack interesting for xNFT ecosystem but less mature.

Phantom FAQ

Is Phantom safe to use?

Phantom itself is secure - audited code, used by 3 million people. However, Solana ecosystem has many scams due to low fees (easy to spam). In 2026, $280 million was lost to Solana phishing and fake dApps. The wallet is safe; user caution is required.

Why are Solana fees so cheap?

Solana processes 65,000 transactions per second vs Ethereum's 15 TPS. Higher throughput = lower fees per transaction. Average Solana transaction costs $0.0002 vs Ethereum's $2-15. This makes Solana practical for small transactions and gaming.

Can I use Phantom for Ethereum?

Yes, Phantom added Ethereum and Polygon support in 2023. However, MetaMask is better for Ethereum-focused users. Phantom's strength is Solana. Use Phantom primarily for Solana, secondarily for Ethereum if needed.

How do I get SOL into Phantom?

Three ways:

1. Buy in Phantom using MoonPay/other providers (easy but higher fees)
2. Buy on exchange (Coinbase, Binance), withdraw to Phantom address
3. Bridge from Ethereum using Wormhole or AllBridge (if you have ETH)

What's the minimum SOL I need?

Keep at least 0.05 SOL for transaction fees. More if using multiple dApps. Solana requires "rent" for accounts (usually 0.002 SOL per token account). With $50 in SOL at 2026 prices, you're good for thousands of transactions.

Can I recover Phantom on different wallet?

Yes. Phantom uses standard BIP39 seed phrases. You can recover in Solflare, Backpack, or any Solana-compatible wallet. For Ethereum addresses in Phantom, recover in MetaMask with same seed. Standards ensure portability.