Phantom is one of the most widely used Web3 wallets in the cryptocurrency market community due to its intuitive interface and many useful features. So how to use the Phantom Wallet, let's explore through this article!
What is Phantom Wallet? Detailed guide on how to use Phantom Wallet
What is Phantom Wallet?
Phantom is a multi-chain cryptocurrency wallet for DeFi and Non-Fungible Token (NFT) applications, allowing users to easily store, send, receive, swap, and stake tokens across multiple networks. Phantom supports not only popular browsers like Chrome, Brave, Firefox, etc., but also has mobile apps for both Android and iOS.
What is Phantom Wallet?
Thanks to its intuitive and user-friendly interface, Phantom has become one of the most popular Web3 wallets, especially on the Solana network, which is known for its fast transaction speed, low fees, and rich dApp ecosystem. In addition to Solana, Phantom also supports many other prominent networks such as Ethereum, Sui, Base, and more.
Highlights of Phantom Wallet
User-friendly and easy to use
Phantom is designed with a simple, clear, and easy-to-understand interface, helping users get familiar and start using it right away. The operations on Phantom Wallet are fast and smooth, without causing any difficulties or delays for the user.
Multi-blockchain support
Phantom supports various networks, allowing users to easily manage different cryptocurrencies and Non-Fungible Tokens (NFTs) across multiple blockchains within a single wallet, saving time and effort compared to using multiple wallets for each network.
Diverse features
Phantom has a self-custodial private key management system and integrates advanced security measures such as two-factor authentication (2FA) and biometrics to help users store and manage their assets in the most secure and protected way.
Additionally, Phantom is pre-integrated with many dApps from various ecosystems, allowing users to interact with these ecosystems conveniently.
Some useful features of Phantom Wallet
Phishing website detection
Phantom automatically blocks phishing websites and identifies suspicious transactions, helping to protect users from potential asset violations or rights infringement.
Burning of spam NFTs
Phantom allows users to burn unwanted NFTs sent by scammers to reclaim a certain amount of SOL each time this feature is used.
Sign In With Solana (SIWS)
Phantom allows wallet authentication with a single click using the Solana address, improving the user experience by simplifying the authentication process. This eliminates the need for complex and confusing authentication steps.
Phantom username
Phantom's username feature allows users to create a custom name instead of using a complex wallet address, providing a more user-friendly, personalized, and convenient experience. This feature is a step forward in making web3 more user-friendly. Some of the username features include:
- Customizing settings like name, avatar, and other options on both mobile and desktop.
- Enabling easy sending and receiving of tokens through the username.
- Allowing users to follow others through their username.
Development team
Phantom Wallet's development team
Phantom Wallet was founded in 2021 by Brandon Millman, Francesco Agosti, and product designer Chris Kalani.
Investors
Phantom's investors
Phantom has raised $268 million across three funding rounds, with participation from investment funds such as Sequoia, Paradigm, a16z, Solana Ventures, and others, reaching a valuation of up to $3 billion.
How to use Phantom Wallet
Download the wallet
Visit this link and select "Add to Chrome".
Set up the wallet
- Step 1: Select Create a new wallet.
- Step 2: Enter a password -> Select Continue.
- Step 3: Save the 12 words -> Select Continue.
- Step 4: Select Get Started to complete the process.
Check transaction history
Select the icon shown below to check the transaction history.
Staking SOL
- Step 1: Select the Solana token.
- Step 2: Select Start earning SOL.
- Step 3: Select the validator you want to stake with.
- Step 4: Enter the amount of SOL you want to stake -> Select Stake.
Create a username
- Step 1: Open the Phantom wallet, go to the Profile section in the top right corner, then select Setting.
- Step 2: Select Create your @username.
- Step 3: Set the username you want, select Save & Continue to confirm the name, then select any emoji or Non-Fungible Token to use as an avatar.
- Step 4: Select the wallet to link the username and select Save & Continue to complete.
Summary
The above is all the information about the Phantom wallet, Coin68 hopes that readers will grasp the basic information and know how to use the wallet. Wish you have more useful knowledge!
Note: The information in the article is not to be considered investment advice, Coin68 is not responsible for any decisions you make.
