Phantom wallet - A friendly Solana wallet built for DeFi

Phantom Wallet is a self-custodial digital currency wallet for the Solana (SOL) blockchain. It is almost equivalent to its web3.0 alternative MetaMask and is accessible as a free web browser extension, available to install for Firefox, Chrome, Opera, and Brave. With this Wallet, users can manage their digital assets and non-fungible tokens (NFTs), swap, stake tokens, and access the decentralized apps on the SOL blockchain. Phantom Wallet gave users access to their private keys. Also, users can connect it directly to the hardware wallet Ledger.

Major Attributes of Phantom Wallet

• Self-custodial- Phantom Wallet is the most decentralized kind of Wallet. A self-custodial wallet is one in which users get full control of their assets. The safety of funds relies on the hands of its owner and is not entrusted to a third party. 
• Token Swaps- This Wallet is a built-in decentralized exchange where users can initiate instant swaps of assets on the SOL blockchain. When initiating swaps, it displays the price, estimated fee, and slippage tolerance.
• Non-fungible tokens and collectibles- This striking feature of the Phantom Wallet makes it more alluring, considering that NFTs are hot in the digital currency world. This wallet group equivalent NFTs automatically saves users from the stress of selecting the desired one from the huge list. 
• WEB3 support- Web3.0 is the unifying of blockchain technology with internet technology that enables apps to work on decentralized blockchains. 
  

Instruction to Download the Phantom Wallet on PC

• Firstly, open any of the supported web browsers on your device.
• Or, you can visit the official page of Phantom Wallet.
• Next, you have to write Phantom Wallet in the available box and tap on the Enter key.
• Then, you must pick the Phantom symbol from the given list.
• Now, press the Add to Chrome button and wait for some time.
• After that, click on the Open tab and set up your account.
  

Instructions to Create an Account on Phantom Wallet

• For this, you should launch the Phantom Wallet app on your computer.
• On the home screen, you have to press the Create New Wallet button visible on the screen.
• Then, the Secret Backup Phrase will appear on the screen. You must write down the phrase and place it somewhere securely.
• Next, you need to hit the Copy icon displayed under the Recover Phrase tab.
• After safely noting down the recovery phrase, you should select the I saved it somewhere option.
• Now, you have to develop a hard-to-crack password for your Wallet.
• Here, you must re-enter your login password in the given space to confirm it.
• Walk through the Privacy Policy and Terms of Use of the website and tick the I Agree to box.
• Press the Save button visible at the bottom of the screen.
• After this, a confirmation window will display on your screen. Go through the message and hit the Finish button.
• All done; your Phantom Wallet is ready to use.
  

Instructions to Reset the Phantom Wallet Password

• Let’s start, open the Phantom Wallet app on your computer.
• Next, you should repeatedly type your old password till the Forget Password option appears on the screen.
• Now, tap on the Forgot Password tab to launch the new page.
• Then, the Password Recovery Page will display on the screen.
• Here, you need to provide the secret backup phrase in the available box and click on the Restore Recovery Phrase tab.
• After that, you must choose your desired wallet account and press the Import Selected Account button.
• Now, you have to retype the password in the preferred field and tap on the Save icon.
• That’s all; you have successfully reset the Phantom Wallet.
  

Instructions to Swap Assets on Phantom Wallet

• First, you need to open the official Phantom Wallet app on your PC.
• Then, you must unlock the Wallet using your backup recovery phrase.
• Press the Swap button available on the left-hand side of the page.
• On the swap window, you will get a list of options for swapping.
• Now you should copy the wallet address displayed under Step1.
• Head into the Neo wallet and pick the tokens you need to send.
• After that, you have to input the amount you want to exchange.
• Next, you must paste the copied address into the swap page.
• Then, you need to add the transaction fee and hit the Send Asset tab.
• Here, review the information you have submitted.
• Lastly, tap on the Confirm and Send tab to finish the procedure.
  

Instructions to Stake SOL on Phantom Wallet

• Firstly, get into your Phantom Wallet using the login password.
• On the official page of Phantom, you have to click on the SOL token balance.
• Then, navigate and tap on the Start earning SOL button.
• Now, you need to choose the validator you want to stake with.
• Next, you must input the amount you would like to stake in the given space.
• Finally, hit the Stake button to complete the process.
  

Conclusion

Phantom Wallet is the safest and most secure Wallet in the crypto world as it offers you full access to your private keys. This Wallet allows users to stake Solana tokens and earn rewards. The perks are not fixed and depend on your validator. Go through the above discussion to know more about the features and account setup process of Phantom Wallet.