What is Phantom Wallet? How to use it?

Against the backdrop of a strong recovery in the Solana ecosystem (the SOL price has rebounded over 70% from its early 2025 low), Phantom Wallet, as its flagship multi-chain encryption wallet, has become the core portal connecting users to the Web3 world. As of August 15, 2025, Phantom has supported browser extensions (Chrome/Brave/Firefox) and mobile applications (iOS/Android), with a continually rising global user base. This article will delve into its features, security settings, and innovative gameplay, helping you efficiently manage your digital assets.

##What is Phantom Wallet? Phantom is a non-custodial multi-chain Wallet designed specifically for the Solana ecosystem, while also compatible with Ethereum (ETH) and Polygon (MATIC). Users have full control of their private keys and assets without relying on centralized institutions. It is known for its simple interface, low Gas fees (Solana chain transaction fees are typically below $0.01), and powerful built-in features that support token and NFT management, staking, and DApp interaction.

Overview of Core Features:

• Multi-chain support: One-click switch between Solana / Ethereum / Polygon networks, addresses automatically adapt (SOL addresses start with SOL, ETH addresses start with 0x);
• Cross-platform coverage: Provides browser extensions and iOS/Android Apps to meet desktop and mobile needs;
• DeFi and NFT Hub: Built-in token exchange, staking, perpetual contract trading, and NFT management tools without the need to switch to third-party platforms.

##Core Function Detailed Explanation

multi-chain asset management

• Tokens and NFTs: Automatically identify and categorize assets, NFTs are displayed in the "Collectibles" tab without the need for manual addition;
• Cross-chain operations: When sending assets, confirm network compatibility (e.g., sending SOL tokens on the SOL chain) to avoid asset loss due to incorrect chain selection.

built-in DeFi tools

• Token Swap: Directly exchange tokens (e.g., SOL for USDC), with support for custom slippage tolerance (default 1%);
• SOL Staking: Select a validator node through "Earn" and enter the staking amount, then the earnings will be automatically updated daily;
• Perpetual contract trading (added in July 2025): up to 40x leverage, supporting BTC, ETH and over 100 markets. Funds are automatically converted from SOL to USDC to simplify the process (not available in regulated areas such as the UK).

###NFT innovative application

• Camera Mint: A feature launching in July 2025 that supports converting phone photos/videos into Solana NFTs in 4 steps:
  1. Enter the "Collectibles" tab → Click "+";
  2. Choose to take a photo or upload from the album;

3. Name the work;
4. Pay Gas fees to complete the minting.

Installation and Setup Guide

secure download

Only download from the official website phantom.app or official app stores (App Store/Google Play) to avoid the risk of counterfeit programs.

Create New Wallet

1. After starting, click on "Create New Wallet";
2. Set a password combination of more than 8 alphanumeric characters;
3. Write down the 12 mnemonic words (do not take a screenshot!), and complete the word verification.

Import existing Wallet

Click "Import Existing Wallet" and enter the mnemonic phrase or private key to restore your assets.

##Basic Operation Steps

receive digital asset

• Click "Receive" → Copy the address (e.g., SOLabc...xyz or 0x...);
• Provide this address to the exchange or the transferor, and be sure to confirm that the chain type matches.

send assets

• Click "Send" → Enter the receiving address and amount;
• Select the corresponding network (for example, switch to the Ethereum network when sending ETH);
• Complete the transaction after confirming the transaction fee.

connect DApp

• Visit DApp (such as Magic Eden);
• Click "Connect Wallet" → Select Phantom → Authorize connection.

##Security Practices: A Must-Read for Protecting Assets

1. Mnemonic management: Store offline and never share (Phantom will never ask for it proactively);
2. Anti-Phishing Strategy:

• Carefully check the DApp website (such as magiceden.io not mag1ceden.com);
• Confirm the address and amount in the transaction pop-up before proceeding;

3. Privacy Settings: Enable "Hide Personal Data" mode to prevent information leakage through screenshots;
4. Hardware Wallet Integration: Supports Ledger connection, greatly enhancing security.

##2025 Innovative Features: Camera Mint and Perpetual Contracts

• Camera Mint: Lower the threshold for NFT creation, allowing users to quickly transform life moments into on-chain collectibles;
• Mobile perpetual contracts: Launched in collaboration with Hyperliquid, offering a centralized exchange-level experience without asset custody. Gradually rolling out, with more users expected to be covered in the coming weeks.

##3 Key Tips for Beginners

1. Small amount test: First operation, use $10 USDT to test the process (withdraw from the exchange using Solana chain);
2. Gas fee management: Increase "Priority Fee" to accelerate transactions during Solana congestion;
3. Continuous Learning: Utilize Phantom's built-in educational mode to understand risks such as leverage liquidation.

##Conclusion: From Wallet to Web3 Entrance Phantom has evolved from an asset storage tool into a DeFi hub of the Solana ecosystem. By continuously integrating NFT creation (Camera Mint), staking, derivatives trading, and multi-chain support, it balances innovation and security, becoming an ideal entry point for both novice and experienced users to explore Web3. As the Solana ecosystem's TVL grows by 32% quarterly, Phantom's ecological position will be further strengthened.