“One of the perks of crypto is that you get to use a ton of different wallets,” said no one ever!
The crypto movement was born out of many things, but one of its most prominent themes was being in control of your own money. No more centralized institutions telling you what you can and can’t do with your cash. Crypto gives you true financial freedom! As an early adopter, you’re leading the way—a true pioneer.
Who would possibly say no to such an enticing prospect?
Well, it turns out that as good as all that sounds (and if you’re reading this blog, you probably believe it), all of this freedom comes with extra responsibility (and anxiety), which, to be honest, can be a bit of a headache. Let’s not even mention the high transfer fees, transaction failures, and clunky interfaces.
But there is one wallet trying to change all of that: Phantom Wallet! Launched in 2021, Phantom has taken the crypto industry by storm with its easy-to-use interface, fast transaction speeds (thanks to Solana), and brilliant social media marketing. In this article, we’ll explore what makes Phantom great.
Is Phantom Easy to Use?
As far as crypto wallets go, Phantom is one of the easiest to use (though I haven’t tried them all). The setup process is straightforward, and there are tons of YouTube tutorials to help you out. Since we won’t be covering a detailed setup guide here, just know that it’s beginner-friendly.
Phantom is available as a browser extension for Google Chrome, Firefox, Brave, and Microsoft Edge (does anyone actually use this?). It’s also available as a mobile app on the Apple and Google Play stores. You can create a wallet using a seed phrase or an email, with the email option being even easier than setting up an email account.
Once your wallet is set up, you’re greeted with a simple toolbar featuring four self-explanatory options. Phantom provides guides on buying or transferring crypto, but if you’ve used a wallet before, you should be able to figure it out quickly.
The Phantom Toolbar
Adding crypto to Phantom is simple: you can either transfer funds from another wallet or exchange, or purchase crypto using a bank card (though this is the more expensive option).
Sending crypto is just as easy. All you need is the recipient’s wallet address. The cost and speed of your transaction will depend on the network you’re using. Generally, Bitcoin and Ethereum are the most expensive networks, while Ethereum Layer 2 (Base), Solana, and SUI are cheaper and faster. If you’re unsure why different networks exist or how they work, check out our guide here.
Phantom originally made its name as a Solana wallet, but it has since added support for Bitcoin, Polygon, Ethereum, Ethereum L2 Base, and most recently, SUI. This makes it a great choice for users holding assets across multiple blockchains who want to manage them in one place.
However, while it’s convenient to store all your assets in a single wallet, this is generally not recommended. All cryptocurrency networks are vulnerable to attacks and scams, and it’s always safer to spread your holdings across multiple wallets, ideally with some in cold storage. More info on different wallets can be found here.
Swapping Crypto in Phantom
One of Phantom’s biggest draws is its built-in swap feature. While many wallets offer swapping, Phantom’s timing during Solana’s peak adoption helped it gain massive popularity. Thousands of crypto traders, both new and experienced, used Phantom to trade meme coins and other emerging Solana projects.
Phantom may have benefited from being in the right place at the right time, but its seamless app experience kept users loyal. At various points during Solana’s rise, Phantom was among the most downloaded apps on both the Apple App Store and Google Play Store.
What Else Makes Phantom Great?
NFT & Collectibles Section
Phantom has a dedicated collectibles section where you can store NFTs and semi-fungible tokens (whatever those are). While I’m not big on NFTs, I wanted to see how easy it was to buy one using Phantom. Using the in-app browser (more on that later), I went to Magic Eden, an NFT marketplace, and quickly found a cheap NFT that caught my interest—Bender. I bought it for 0.01212 SOL (about $2.84), and the whole process took seconds.
Once you own an NFT, you can list it for sale at a price of your choosing or accept the current market offer, which in my case was significantly lower than what I paid. But hey, I’m no NFT expert—this was probably my first NFT purchase ever.
In-App Browser
Phantom’s in-app browser is another great feature. While not unique to Phantom, the experience is seamless. When I bought my NFT, I simply typed “Magic Eden” in the search bar, and it auto-completed to the correct site. From there, I easily connected my wallet and made my purchase. I’ve also used this feature to connect with various DeFi protocols on Solana, and it’s always been a smooth experience.
Trending Tokens Section
Phantom also includes a “Trending Tokens” section, making it easy to discover and buy trending assets. With a single tap, you can view price history, key metrics like volume and market cap, and other useful data to better understand each project. You can even purchase the tokens directly in-app. While this convenience is great, always remember to DYOR (Do Your Own Research) before investing in any crypto asset.
Bridging Across Blockchains
One of Phantom’s biggest advantages over other wallets is how effortlessly it allows users to swap tokens between major blockchains like Ethereum and Solana. With most other wallets, bridging requires using third-party services, which can be risky and slow (taking anywhere from 10 to 30 minutes). In Phantom, the entire process happens within the wallet itself, eliminating the need to vet external bridges. This is a major win, especially for newcomers unfamiliar with how blockchain bridging works.
The Epic Socials
Beyond having a fantastic product, Phantom has built a strong reputation in the crypto space through an epic social media strategy.
The Phantom team is one of the most engaged in the crypto industry (and that’s saying something). They regularly post helpful updates to keep users informed, share educational content, and even crack memes and jokes. They also give their community a boost by resharing user-generated content to their audience of hundreds of thousands of followers (who knows, maybe they’ll repost this review! LOL). No matter how you look at it, Phantom is absolutely crushing it on social media.
Phantom Review – Final Thoughts
Phantom has cemented itself as one of the top crypto wallets, thanks to its user-friendly interface, multi-chain support, built-in swaps, NFT functionality, and seamless in-app browser. Whether you’re a beginner or an experienced trader, Phantom offers a well-rounded experience that makes managing your crypto assets easier than ever.
If you’re looking for a solid multi-chain wallet with an engaging community and top-tier usability, Phantom is definitely worth considering.
We’ll be adding some of our favorite Phantom memes and social media posts below—stay tuned!
The Phantom team celebrating adding SUI to their list of supported blockchains
Oh and did we mention that they are extremely well funded
Phantom promoting a healthy lifestyle.
