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Phantom is a non-custodial wallet, which means you’re the only person with access and sole control over your funds. A phantom wallet makes it possible for you to use any …This is a decentralized Web 3.0 self-custodial wallet that stores your private keys on your device thus giving you complete control of your funds. Phantom is compatible with several browsers including Chrome, Firefox, Edge, and the Brave browser.Simply put, Phantom is the MetaMask equivalent of the Solana ecosystem as it is mainly designed to make the process of managing private keys for DeFi projects in the Solana network much easier. Already, Phantom has raised $9 million from renowned venture capitalists such as A16z. The funds are set to be used for the development of its platform.
Available on several browsers with an intuitive and beginner-friendly interfaceBenefits from Solana’s extremely low feesFeatures a built-in token swap feature with Ethereum support coming in the futureSupports linking hardware wallets such as Ledger for increased securityNon-custodial wallet, which means you still hold your private keys
Relatively new wallet that’s not as tested as some of the competing productsThe mobile app is still in development so right now Phantom is only available in browser formLimited to the SOL ecosystem so that means no support for crypto heavyweights like Ethereum and Bitcoin
Phantom’s Top Features
Phantom is built for simplicity when it comes to managing digital assets on the Solana blockchain. Its most outstanding feature is the built-in exchange that lets you swap tokens on the Solana ecosystem.Phantom also supports NFTs and collectibles thus making it easy for users to not only collect but also view their NFTs in the app. For additional security, the Phantom web browser features compatibility with hardware wallets such as the Ledger hardware wallet.You can easily connect your Ledger hardware wallet with Phantom. What’s more, Phantom allows for SOL staking meaning you can use it to earn rewards for staking Solana’s native token. However, note that the Phantom wallet is not a full node on the Solana blockchain network.
supported Phantom wallet supports
all the cryptocurrencies on the Solana ecosystem.Some of the most prominent supported cryptocurrencies on the wallet include USDT, USDC, Serum, Raydium, and Solana. Phantom wallet’s development team also plans to soon introduce support for Ethereum.