Our inclination towards technology has brought about drastic changes in our lifestyle and owing to that, the mode of trading operations has also witnessed a great shift. This development in the technological world has completely transformed the ways how we used to make investments in the past.
Instead of testing their money in stocks, people have now shifted their focus towards investing in cryptocurrencies and NFTs.
This investment model is being accompanied by a lot of new traders as they see it to hold a great future for them. On the other hand, a lot of platforms are developing their own cryptos along with exchanges from where traders can buy or sell cryptos. And, that is where a digital wallet comes into the picture.
It works similar to the wallet that we use in our day-to-day lives to keep our cash. In a digital wallet, we can store our cryptos. And a few wallets also allow users to interact with DeFi apps and NFTs.
What is a Phantom wallet?
A phantom wallet works in a similar way as a MetaMask extension does. Using a phantom wallet, you can interact with the Solana blockchain and trade or swap SOL on the go. The Phantom wallet service is available in the form of a browser extension that can be added to some major browsers including Chrome, Firefox, Brave, and Edge.
To set up your Phantom wallet for the first time, you need to follow the steps that are listed below:
From there, get the Phantom wallet extension downloaded to your device
Follow the prompts to add the extension to your web browser
Next up, you need to click on the option to create a new wallet
Followed by this, you will be shown a secret recovery phrase
Note down this phrase/mnemonic at a safe place
Create your Phantom wallet login password
Complete the remaining prompts and start using your wallet
Now that you have created your wallet, you need to log in to it and start using your wallet for the desired purposes. So, in the section below, we shall have a look at the steps to log into a phantom wallet on your device.
If you are logged out of your phantom wallet and now you wish to know the method to log back into it, then you can follow the steps that are written below to complete the process of accessing your wallet:
Next up, you have to click on the extension icon on your browser's taskbar
Followed by this, you have to select the "Use Secret Recovery phrase"
In the available space, enter the secret recovery phrase very cautiously
To get the Phantom wallet downloaded on your device, you need to follow these steps one by one and get the software wallet installed on your device:
At first, visit the URL https://phantom.app/download
Now, from the given page, select your browser type
Followed by this, complete the remaining steps to add the wallet
If you are a new user, click on the option to create a new wallet
Can I download a phantom app?
Since the Phantom wallet is only available in the form of a browser extension, therefore you can undergo the phantom app download process. To use the Phantom wallet, all you can do is install the Phantom browser extension on your device and then go ahead with setting up your wallet.
Download phantom extension for Chrome
Form your Chrome browser, you need to go to the https://phantom.app/download website and click on the option that is labeled as "Add to Chrome". On the page, you are redirected to click on the "Add to Chrome" option one more time and then select the "Add extension" option to confirm that you are ready to install the wallet software on your device.
How do I download Phantom wallet extension for Firefox?
To begin the procedure, you need to go ahead with opening the official website of Phantom wallet and follow the steps listed below:
Make sure that you are visiting this website from your Firefox browser
On the main screen of phantom wallet, click on the option to install the wallet
Complete the remaining steps accordingly as they appear on your screen
The comprehensive post above has been created to help users with getting started to use the Phantom wallet for the first time. After referring to this, you will eventually get to know how easy it is to use this wallet for interacting with the Solana blockchain. Setting up and logging in to this wallet will let you trade through the DeFi apps and NFTs.
Frequently Asked Questions-
Is Phantom wallet safe?
Since a phantom wallet is a self-custodial wallet, therefore its private key is stored on a user's device and nobody else can gain access to it. In addition to this, the platform itself uses high-end security features developed by Kudelski Security. So, all in all, we can say that it is a safe wallet.
Does Phantom have a mobile wallet?
Unfortunately, Phantom is only available as the browser extension and it is not available in the form of a mobile app. Its app is neither available for iOS users nor for Android users. To use the wallet services developed by Phantom, you can install its extension on a compatible browser.
How do I withdraw money from the Phantom wallet?
In case you have purchased Solana from your phantom wallet and you wish to withdraw it from your wallet, then you need to click on the "Send/Receive" option available on its main page. Enter the amount you wish to withdraw and follow the remaining prompts.
How do I add Solana to my phantom wallet?
To add or deposit Solana to your Phantom wallet, you need to sign in to your wallet and click on the "Deposit" option. Then, click on the "Transfer" option and enter the details that are asked in the deposit form. Complete the deposit by using the appropriate payment method.