How to Use Solana’s Phantom Wallet? | Phantom Wallet Tutorial for Beginners

phantom wallet

Phantom Wallet is a non-custodial Web3.0 digital wallet that makes it safe and easy for anyone to store, send, receive, collect, and swap tokens on the Solana blockchain. Phantom Wallet has become the gold standard due to its plug-n-play integration with everything the Solana ecosystem has to offer. Phantom enables users to effortlessly Swap & Stake tokens on Solana without the need to interact with any other DeFi applications, giving new Solana holders the absolute easiest way to earn annual percentage yields with their $SOL. While the Phantom wallet is considered a hot wallet, it never tracks any personally identifiable information such as account addresses or asset balances. Phantom mobile wallet is available now for Apple, while the desktop wallet is available for Chrome, Brave, Firefox, and Edge browsers. Here’s a quick tutorial on how to set up your first wallet.

Creating your Phantom Wallet

1. Create a new wallet

Once you’ve downloaded and opened the app you’ll be given the option to “Create a New Wallet” or “Restore an Old Wallet”. Since you’re starting out you’ll want to choose “Create a New Wallet”.

phantom

2. Create a password

Creating a strong password is a key element in securing your assets from anyone who may gain access to your phone, laptop, or PC. If you haven’t already, it’s highly advised that you generate unique passcodes using a password locker like LastPass. Keep in mind that your chosen password will only be required to open your wallet on the specific device you’re setting up. It is not required to restore your wallet on a new device, meaning that multiple devices can have different Passwords and all use the same wallet.

wallet

3. Back it up

Backing up your secret recovery phrase is not something you want to complete with prying eyes around. Ensure you’re in a safe area before proceeding so you don’t risk compromising the security of your wallet. Once that’s done, you can hover your mouse over the blurry box in the middle to reveal your 12-Word passphrase. Write this down on a piece of paper from left to right, starting with the first line. Once all 12-Words are written down correctly, check the box and continue to the next step. Be sure to store your secret recovery phrase in a safe place. Without it you won’t be able to recover your wallet if something happens to the device you’re using.

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4. Access your wallet

Depending on your operating system you’ll be given a handy Keyboard shortcut to quickly access your wallet.  

how to use phantom wallet

5. Pin to browser

When you click continue you’ll be given the option to pin the Phantom wallet extension to your browser. This example has been taken from Brave Browser so your instructions may vary. You can always access the extensions menu in your browser to manually pin Phantom to your “Home Bar” if you miss this prompt.

how to use a crypto wallet

Congratulations now your wallet is ready to go! Once you finish, the page will close and you’ll be able to access your wallet from the How to Use Solana’s Phantom Wallet? | Phantom Wallet Tutorial for Beginners - - 2022 Icon or by using a Keyboard Shortcut. Enter your password to open your wallet to begin Sending & Receiving Solana Tokens in the next step. 

crypto wallet

Send & Recieve

Only a small portion of your Solana public address will be visible in the wallet. To begin receiving Solana tokens, simply hover your mouse over the address shown above in your wallet and choose “Copy to Clipboard”. When sharing this address & depositing tokens from exchanges, be sure to verify the first and last three strings of numbers/letters. For this example above, I would verify Hpg & 31w to correctly match the address pasted before hitting the send button. 

send crypto on phantom

1. Click “Send”

For Sending Tokens simply click the “Send” option in your wallet to be given a list of all your available tokens.

send on phantom

2. Choose the token and input your address

Once you’ve chosen the token you’d like to Send, input the address you would like to send it to. Verify it is the correct one with the same method used for Receiving. Remember, once you send a token, there is no way to recover them if you input the wrong address. A commonly practiced rule is to send a very small amount to an address to test it out before sending any large amounts. Once you’re satisfied the address you’re sending to is correct, click “Next”.

receive on phantom

3. Confirm

Next, you’ll Confirm everything you previously entered and click “Send”. Remember every transaction uses a fraction of $SOL. So be sure you always have a little available in your wallet.

sending crypto

4. Await confirmation

After hitting “Send” you will be taken to the “Recent Activity” menu where you can see all your previous transactions and await the confirmation of your current one. When connected to Solana dApps your wallet will indicate this with a green light in the right corner. When you are not connected to Solana-specific dApps, this light will remain red. It does not affect the wallet’s ability to send & receive tokens in any way. 

receiving crypto

Swapping Tokens

To swap tokens using Phantom simply access the center “arrows” icon at the bottom of your wallet to allow for fast and easy swaps between a handful of Solana-Based Tokens. Review your order and approve the transaction when prompted. For a more detailed explanation of Swaps on Solana check out our How-to use Raydium Tutorial

swapping tokens on phantom
How to Use Solana’s Phantom Wallet? | Phantom Wallet Tutorial for Beginners - - 2022

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How to Use Solana’s Phantom Wallet? | Phantom Wallet Tutorial for Beginners - - 2022

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