What Is Phantom?
Phantom is a crypto wallet built for Solana. It started as a browser extension, expanded to mobile, and now handles Ethereum and Polygon too — but it’s still primarily known as the Solana wallet. If you’re trading memecoins, swapping tokens, or doing anything on Solana, you probably need Phantom.
Think of it as your crypto bank account, except there’s no bank. You hold the keys, you control the funds, and no one can freeze your account or deny a transaction. The tradeoff is that no one can recover your account either — lose your keys, lose your money.
This guide covers everything from first install to advanced features. Whether you’ve never touched crypto before or you’re switching from another wallet, you’ll find what you need here.
Installing Phantom
Browser Extension (Desktop)
- Go to phantom.app — and triple-check the URL. Scammers run ads for fake Phantom websites that look identical but steal your keys. The real site is phantom.app, full stop.
- Click “Download” and choose your browser (Chrome, Firefox, Brave, or Edge)
- Install the extension from your browser’s official extension store
- Click the Phantom icon in your browser toolbar to open it
Mobile App (iOS / Android)
- Search for “Phantom” in the App Store or Google Play
- Make sure it’s by “Phantom Technologies” with millions of downloads — not a copycat app
- Install and open
Same warning applies: only download from official sources. Fake wallet apps are a real and common scam.
Creating Your Wallet
When you first open Phantom, you’ll see two options: “Create a new wallet” or “I already have a wallet.” If this is your first time, hit create.
The Seed Phrase
Phantom will show you 12 random words. This is your seed phrase (also called recovery phrase or secret phrase). It’s the master key to your wallet. Anyone who has these 12 words has full control of your money.
How to handle your seed phrase:
- Write it down on paper. Physical paper, with a pen.
- Store the paper somewhere safe — a drawer, a safe, anywhere that isn’t exposed to water or fire
- Consider making a second copy stored in a different location
What NOT to do with your seed phrase:
- Don’t screenshot it
- Don’t save it in a notes app, Google Doc, or email draft
- Don’t store it in a password manager (debatable, but physical paper is safer for most people)
- Don’t paste it into any website. Ever. No legitimate service asks for your seed phrase.
- Don’t share it with “support” on Telegram or Discord — they’re scammers
After writing it down, Phantom will ask you to confirm some of the words. Then you’ll set a password for day-to-day access. This password is just for unlocking the app on your device — the seed phrase is what actually controls the wallet.
Getting SOL Into Your Wallet
Your wallet starts empty. You need SOL (Solana’s native token) to do anything — buy tokens, pay transaction fees, interact with apps.
Option 1: Transfer from an exchange
- In Phantom, tap on “Solana” then “Receive”
- Copy your wallet address (or scan the QR code)
- On your exchange (Coinbase, Binance, Kraken, etc.), withdraw SOL to that address
- Make sure you select the Solana network, not Ethereum or another chain
- SOL should arrive within seconds
Option 2: Buy directly in Phantom
Tap the “Buy” button in Phantom. You can purchase SOL with a debit card or bank transfer through providers like MoonPay, Stripe, or Coinbase Pay. The convenience comes at a slightly higher fee than buying on an exchange first.
How much SOL do you need?
Transaction fees on Solana are fractions of a penny, so you don’t need much for gas. If you’re just testing things out, $10-20 of SOL is enough. For actual trading, $50-100 gives you room to experiment without worrying about dust amounts.
Swapping Tokens in Phantom
Phantom has a built-in swap feature — you don’t need to visit a separate DEX website for basic trades.
- Tap the swap icon (two arrows) at the bottom of the app
- Select what you’re swapping from (usually SOL)
- In the “To” field, search for a token by name or paste the mint address
- Enter the amount
- Review the rate and slippage
- Tap “Review Swap” then confirm
Phantom routes swaps through Jupiter, Solana’s main DEX aggregator, so you’re getting competitive rates. For most trades, the built-in swap is perfectly fine.
When to use Jupiter directly instead:
- Very new tokens that Phantom hasn’t indexed yet
- When you want more control over slippage settings
- For larger trades where you want to see all available routes
For a full walkthrough on buying memecoins, check our complete guide to buying memecoins on Solana.
Understanding Your Token List
After buying tokens, they’ll appear in your Phantom wallet’s token list. A few things to know:
Token auto-detection: Phantom automatically detects most tokens sent to your wallet. But very new memecoins might not show up immediately. If you bought a token and don’t see it, wait a few minutes and refresh.
Spam tokens: You’ll occasionally receive random tokens you didn’t buy. These are airdropped spam — sometimes harmless marketing, sometimes phishing attempts. Don’t interact with them. Don’t try to sell them. Just ignore them or hide them in Phantom’s settings.
Price display: Phantom shows estimated USD values for tokens it recognizes. Very new or low-volume tokens might not have a price displayed. Use TokenRadar or Birdeye to check actual prices if Phantom doesn’t show them.
Hiding tokens: Long-press a token and select “Hide” to remove spam or dead tokens from your view. This doesn’t sell or remove them — just hides them from the list.
Connecting Phantom to DApps
Most Solana applications — DEXs, NFT marketplaces, DeFi protocols — work by connecting to your wallet. Here’s how:
On desktop: Visit the app (like jup.ag or raydium.io), click “Connect Wallet,” select Phantom, and approve the connection in the popup.
On mobile: Use Phantom’s built-in browser (tap the compass/explore icon). Navigate to the app’s URL, and it’ll detect Phantom automatically. Using an external mobile browser won’t connect properly — always use Phantom’s built-in browser for DApps on mobile.
Revoking connections: Go to Settings → Trusted Apps to see every app you’ve connected to. Remove any you no longer use. This is good security hygiene — fewer active connections means fewer potential attack vectors.
Security Best Practices
Your wallet is only as safe as your habits. Here’s what actually matters:
Enable biometrics. On mobile, turn on Face ID or fingerprint unlock. This prevents someone who picks up your unlocked phone from accessing your wallet.
Use a strong password. Your Phantom password should be unique — not reused from any other account. If your email gets breached and you used the same password for Phantom, your wallet is at risk.
Bookmark the real sites. Bookmark phantom.app, jup.ag, raydium.io, and any other sites you use regularly. Never click links from Telegram, Discord DMs, or Twitter replies claiming to be these services.
Check transaction details before signing. When Phantom asks you to approve a transaction, actually read what it says. If a “free mint” is asking to access your SOL or transfer tokens from your wallet, that’s not a free mint — it’s a drain.
Revoke suspicious approvals. If you accidentally connected to a sketchy site, immediately go to Settings → Trusted Apps and revoke it. Then consider moving your funds to a new wallet as a precaution.
Consider a hardware wallet for large amounts. If you have more than you’d be comfortable losing in your Phantom hot wallet, get a Ledger and use it with Phantom. The Ledger stores your keys offline, making remote theft effectively impossible.
Phantom on Multiple Devices
You can use the same wallet on your phone and computer. Here’s how:
- Install Phantom on the second device
- Choose “I already have a wallet”
- Enter your 12-word seed phrase
- Your wallet — with all tokens and balances — appears instantly
Both devices access the same wallet. A transaction made on your phone shows up on your desktop and vice versa. There’s no “syncing” — the wallet lives on the blockchain, not on your device.
Common Phantom Issues and Fixes
“Transaction failed”: Usually means insufficient SOL for the fee or the slippage was too low. Make sure you have at least 0.01 SOL for fees, and try increasing slippage if swapping volatile tokens.
Token not showing after purchase: New tokens can take a moment to appear. Pull down to refresh your token list. If it still doesn’t show, search for the token by its mint address in Phantom’s token search.
Wallet shows wrong balance: Phantom caches balances to reduce network calls. Pull down to refresh, or close and reopen the app. If the issue persists, check your transactions on a block explorer like Solscan to verify the actual on-chain balance.
“This transaction may be harmful”: Phantom’s built-in transaction simulator flags suspicious transactions. Take this warning seriously. If you’re interacting with a legitimate app you trust, you can proceed. If you’re not sure, cancel and investigate.
Beyond Basic Trading
Phantom isn’t just for swapping memecoins. Here’s what else you can do:
Staking SOL: Earn yield on your SOL by staking it to validators. Phantom makes this easy — go to your SOL balance and tap “Start earning.” Current APY is around 6-7%.
NFTs: Phantom has a built-in NFT gallery. Any NFTs in your wallet display automatically. You can view, send, and list them for sale on compatible marketplaces.
Multiple accounts: You can create multiple wallets within Phantom — useful for separating your trading wallet from your savings wallet. Go to Settings → your account name → “Add / Connect Wallet.”
Transaction history: Phantom shows your recent transactions, but for a complete history with details, use Solscan (solscan.io) and search for your wallet address.
Getting Started
That’s the complete Phantom walkthrough. The wallet takes about 2 minutes to set up, and once you have SOL in it, you can start exploring the Solana ecosystem — from memecoins to DeFi to NFTs.
If you’re here for memecoins specifically, your next steps are:
- Set up Phantom and fund it with SOL (you just learned how)
- Browse tokens on TokenRadar — check safety ratings, liquidity, and holder data
- Find something interesting on the Trending tab
- Swap using Phantom’s built-in swap or Jupiter
- Track your position and know when to sell
Welcome to Solana. Keep your seed phrase safe, check the data before you trade, and never risk more than you can afford to lose.