Just like MetaMask works for the Ethereum blockchain and Trust Walletworks for the Binance Smart Chain, the Phantom wallet works for tokens built onthe Solana blockchain. Yes, you heard that right. Well, it is pretty importantfor us to make sure that we have access to a safe storage space for our cryptoassets. Hence, if you are planning to buy some SOL and at the same time worriedabout their security, then this wallet has got you covered.
Through this read, we are going to explore the best sides of this walletand also learn how we can start using it from scratch. So, without further ado,let us get straight into the read.
Key advantages of using the Phantomwallet
Without knowing about the main offerings of the wallet, you might not beconvinced about using it. Hence, first, I am going to share with you theexclusive details that you should know as a new user and then we'll moveforward to learning the setup process:
· The wallet can be exclusively used withdifferent web browsers
· Has a very intuitive and user-friendly interface
· If you are working with Solana, it charges youvery low fees
· There is a built-in token swap feature that isready to support Ethereum
· One can easily link a hardware wallet with itand provide some additional security to their funds
· In addition to that, it is a non-custodialwallet meaning that you have complete control over your crypto assets
If you think that the given list of benefits resonates with yourrequirements from the Phantom wallet, then you can proceed with understandingthe way to get started with it.
Downloading the Phantom walletextension/app
In case you have already set up your wallet and you wish to use it on anew device, you can just restore or import your existing wallet by using theSecret Recovery Phrase of your wallet. On the other hand, if you are completelynew to this, then you can refer to the instructions that are specified below:
· Begin the process by navigating to the officialwebsite of Phantom Wallet viz. https://phantom.app/
· Choose among four browser options i.e. Chrome,Edge, Brave, and Firefox
· After choosing your preferred option, you cansurely follow the prompted steps
· In the case of Chrome, choose the "Add toChrome" option
· And then, you can hit the "Addextension" option on the pop-up screen
If you wish to install the Phantom Wallet app, then you can simply scrolla little bit on the https://phantom.app/download webpage until you see the"Download for Mobile" option. Thereafter, you can choose the"Android" or "iOS" and complete a few more steps to get theapp downloaded.
Setting up a new Phantomwallet
Being a new user on the platform, you need to complete a few easy stepsto set up your wallet. Here are the steps to be followed:
1. On your PC or phone, open the wallet extensionor the app
2. When on the main page, select the "Create anew wallet" option
3. Further, you can enter a new password in thegiven spaces and confirm the same
4. Thereafter, you may go through their terms andthen tick the given box to show your agreement to them
5. Next up, you can choose the "Continue"option and then take action to reveal the Secret Recovery Phrase
6. When you have taken actions to reveal the SecretRecovery Phrase, your wallet is all ready to use
Now, if you ever wish to unlock or sign into your Phantom wallet, you cansimply open the wallet extension or the app and then enter the correct walletlogin password.
Concluding Thoughts:
It would not be wrong to say that getting started with this soft or hot crypto wallet was as easy as having a piece of cake. You can simply download the wallet file on your Windows browser or get the app installed. Once that is done, you can surely set up or restore an existing Phantom wallet. However, the only downside of the wallet is that you cannot use it on your Mac device.