What is a Phantom crypto wallet

Phantom is one of the most popular and convenient non-custodian wallets to use with Solana network. At one time, it was distributed by a limited number of invites, with links posted on the platform’s Twitter feed.

Now, however, millions of people use it, in addition there is a special room inside Solana Spaces in New York for registering an address and creating a wallet. This is how people come into the Solana ecosystem, get an address and can buy their first SOL, Stablecoin or NFT among other things. It looks like this.

Phantom wallet creation space at Solana Spaces

And here is the space itself from the outside.

Solana Spaces in New York City

Phantom provides access to cid-phrase, which means it is non-custodial. The wallet also supports biometric authentication, works with Ledger hardware wallets and even displays NFT tokens in a separate menu. Overall, the advantages of Phantom crypto wallet are

• Fast smooth operation with no bugs;
• intuitive interface, even for newbies;
• NFT support and displaying them in a separate menu;
• support for buying cryptocurrencies for fiat currency via Coinbase Pay, MoonPay and FTX Pay;
• support for cryptocurrency stacking with different validators;
• ability to buy NFTs via the Magic Eden platform directly within the app;
• native support for swaps, i.e. crypto-assets and tokens exchange.

The overall benefit of Phantom is that, following the example of many apps from the Solana ecosystem, it was created directly for the convenience of a mobile device. It’s not a web version of some interface or just an adapted look and feel. Phantom works in the best tradition of iOS apps, and you can feel it from the first seconds.

Where to download Phantom Wallet

Phantom is positioned as a “friendly cryptocurrency wallet”, as explicitly stated on the project website. In general, the app is available in mobile and desktop versions, though their interface is identical between them – which is important for newcomers and convenience in general.

Phantom cryptocurrency wallet website

Let’s show you how to set up the wallet on PC as an example. We go to the wallet download site and choose the right platform. We’ll create a wallet using Firefox browser and then connect the hardware wallet to a Chrome-based wallet. They work equally well on both platforms.

Supported desktop platforms for Phantom wallet


The procedure for setting up the wallet is also the same on smartphone and desktop. Therefore, there is definitely no confusion about the procedure.

How to create a Phantom wallet

After you’ve downloaded and installed the wallet, it will offer you to get started. Here you can either create a new wallet or enter a sid-phrase and regain access to an existing address.

Starting Phantom wallet registration

First step in setting up is setting a password. You need it to log in to the wallet and therefore protect it from unauthorized people. Your browser can save your password, but in the interest of security you’d better not do this and enter the combination manually.

Creating a password in the Phantom Wallet

Next wallet will show the generated Sid-phrase of 12 words. Write it down on paper or other secure medium. Taking a picture on your smartphone or making a screenshot of the word sequence is strictly not recommended, because such files are, in theory, stolen over the Internet.


Phantom does not, however, offer to double-check the recorded recovery phrase. This means that maximum responsibility must be taken when writing it down.


Sid-phrase display in the Phantom wallet

That’s all there is to it. Next you can attach the application icon to your browser bar to make Phantom easier to access.

Finishing registration of Phantom Wallet

When you have finished preparing, the wallet opens up. Here we see buttons for sending and receiving crypto-assets, as well as buying them. The interface is simple, so it won’t be hard to understand. We recommend to visit all menu items for full acquaintance with the wallet.

Phantom wallet interface on PC

In general, the interface of the desktop wallet coincides with the mobile version. The only difference is the presence of a tab with popular NFT on your smartphone in the lower right corner. It looks like this.

Phantom wallet interface on mobile

How to connect Ledger to a Phantom wallet

For storing relatively large sums in crypto-assets, it’s safer to use the hardware wallets we’re already familiar with. Their main advantage lies in the generation, storage and use of the cid-phrase offline inside the device. This means that the important combination does not shine on the internet, and hackers cannot get to it remotely.

As we have already mentioned, Phantom supports interaction with Ledger devices. To connect, we launch the wallet and enter the password. The screenshots below show the Chrome browser.

Entering a password in the Phantom wallet

Go to the list of wallets by clicking on the purple circle in the top left corner. In response we will see a list consisting of the created address.

Phantom cryptocurrency wallet accounts

Click the “Add (connect) wallet” button at the bottom of the page. The app will offer you three options:

• create a new wallet
• import a private key
• Add a hardware wallet

Add a new wallet to Phantom

Choose the last option and start setting up by connecting the hardware wallet to your PC.

Connecting Ledger wallet to Phantom


To clarify an important point: connecting a hardware wallet doesn't involve generating a new sido phrase, as in the previous paragraph, and creating a new address. Instead, Ledger will share its own public key based on the existing sid-phrase within the hardware wallet, and Phantom will essentially just be the interface to interact with the coins at that address.

Ledger itself does not share a private key with the app, but stores it inside a special security chip. Accordingly, transaction signing also takes place inside the device. That said, to connect the hardware wallet to Phantom it's worth installing the Solana app, pre-creating a new account and activating the app after launching the wallet.


Connecting Ledger is simple: you just need to choose the proposed withdrawal path and a suitable address. You can check the latter by balance.

Selecting the Ledger hardware wallet path in Phantom

That’s all: now you can manage the crypto that is on the address from Ledger.

Added Ledger account in Phantom

Well, in the Phantom interface, once connected, a new account will appear. In this case it also differs in the amount on it.

Added Ledger account in Phantom

How to transfer cryptocurrency to the Phantom wallet

Now let’s test sending cryptocurrency to the address of the hardware wallet, which is displayed in Phantom. Note that this is the same address that, for example, is shown in Ledger Live, because a sieve inside the hardware wallet was used to generate it.

To reveal the address we press “Deposit” from the previous screenshot. In response we will see the QR code and the address itself to send. Here it is shaded.

Deposit address for Phantom Wallet

Copy the address and go to a suitable cryptocurrency exchange to withdraw coins. I use the WOO X platform from the Kronos trading team, which has deep liquidity, i.e. good terms for transactions in any volume. In addition, I stack a native WOO token on the platform, thanks to which I get zero commissions for spot and futures trades, as well as one free withdrawal per day on any network as a bonus. Here’s my staking level.

Terms and features of Woo X Stock Exchange Staking. My current level highlighted

Of course, in the case of Solana, the free withdrawal due to low commissions won’t be particularly tangible. However, if we’re talking about Bitcoin or Etherium, this feature will definitely be useful – and especially if the user regularly buys coins and withdraws them to the same hardware wallet for long-term storage. This will save a lot of money on withdrawals throughout the bear market, not to mention trading commissions.


You can register on the platform using this link. Especially now, new users who will register on the exchange and make one trade before November 1 will have a chance to win 1 BTC. This promotion is held in honor of the anniversary of the platform.


Details for the drawing of 1 BTC for new users of WOO X

Open a wallet on the exchange. I have here 11.66 SOL, which will go to Ledger.

WOO X crypto exchange interface with hidden balance

Going to withdraw coins. Specify the address copied from Phantom. Again, in this case it is shaded.

Withdrawing cryptocurrency from WOO X cryptocurrency exchange

Confirm the withdrawal by providing codes from the email and two-factor authentication application. Note that there is no withdrawal fee here as I steak at least 1800 WOO on the exchange. This is the minimum amount to receive this bonus.

Withdrawing cryptocurrencies from exchange WOO X

That’s all – coins are gone.

Confirmation of successful withdrawal of crypto from WOO X

After few minutes 11.66 SOL appear in hardware wallet, as you can see in Phantom interface.

Updated Ledger account balance in Phantom

The transfer is also shown in the transaction history. Again, the amount came in its entirety and without any withdrawal interest.

Incoming transaction in Phantom cryptocurrency wallet

Conclusion. Which cryptocurrency wallet to choose for Solana

Phantom is an excellent stable product that will suit beginners and seasoned Solana ecosystem enthusiasts alike. Among the key pluses of the app are fast operation and clear interface.

Anatoly Yakovenko, co-founder of Solana, with his Saga smartphone

Also users of the mobile version will appreciate the ability to buy NFT, and others will appreciate the support of hardware wallets along with the built-in exchange function. It’s likely that the combination of such functionality and smooth operation is exactly what will attract thousands of new people to the Web3 world.

Interaction with other cryptocurrencies is discussed in our Millionaires Crypto Chat.