Phantom wallet: A perfect user-manual for beginners

The Solana Phantom wallet is a decentralized finance wallet (DeFi) with the growth of Solana’s ecosystem developed and launched in 2021, it is a multi-utility and multi-device crypto wallet for the Solana blockchain. It offers users the typical feature in DeFi wallets such as decentralization, cryptographic security, fast transaction confirmation plus it also offers users in-app token swaps, a fiat-on ramp, and a place for storing NFTs. The Phantom wallet is quickly becoming a trending and trusting wallet for users interacting with the Solana Blockchain. As one of the fastest blockchains worldwide, it can process more than 65,000 transactions per second (TPS). 

How to use the Phantom wallet?

The Phantom wallet is available as a mobile application and a browser extension tool for desktop web browsers, this protocol operates by allowing users to generate private keys for the users. The phantom wallet is very simple with an instinctive graphical interface (GUI), used for signing transactions and storing funds.

Why Phantom Wallet?

• Phantom wallet Security
• Solana Ecosystem
• Creates NFT collections
• Swap Tokens

Phantom Wallet Security: This particular feature keeps the users’ funds secure by offering a self-custodial service to them. Therefore, the Phantom wallet has no ownership or access to users’ private keys and it can be accessed by accounts’ holders only.

Solana Ecosystem: The Phantom wallet makes it easy for anyone to browse and interact with DeFi applications on the Solana blockchain using a mobile application or web browser extension. However, if users want to connect to Phantom wallet they have to install compatible apps like Raydium. Similarly, users can connect to the desktop using Solana dApps by selecting the Phantom icon.

Creates NFT collections: This feature takes the non-fungible tokens (NFT) storage to the next level. As the most profitable form of cryptographic asset in 2021, NFT is also compatible with DeFi wallet.

Swap tokens: Another popular feature of the Solana Phantom wallet is the in-app token swap ability. Furthermore, with the network fees costing less than $0.01 per transaction, users can make hundreds and thousands of transactions under one USD.

Conclusion:

So, we have read about the Phantom wallet, it is an all-in-one DeFi wallet solution for crypto and basically operates in Solana blockchain. As it offers an easy and intuitive onboarding channel for crypto beginners. Accordingly, users can use this platform on smartphones and desktops as per requirements. Readers can go through the whole article and if there are any queries then connect to the Phantom support team for better assistance.