What is Phantom? How to use it?

Phantom is a multi-chain encryption wallet designed specifically for the Solana ecosystem, while also compatible with Ethereum (ETH) and Polygon (MATIC) assets. With its user-friendly interface, powerful features, and security, it has become one of the preferred tools for managing tokens, NFTs, staking, and connecting to decentralized applications (DApp). As of August 6, 2025, Phantom has supported browser extensions (Chrome/Brave/Firefox) and mobile applications (iOS/Android), with a continuous rise in global user numbers, especially in the context of the recovery of the Solana ecosystem (SOL price has rebounded over 70% from its low point at the beginning of the year).

##Core Features and Advantages of Phantom

1. Multi-chain asset management supports the storage, sending, and receiving of SOL, ETH, MATIC on-chain tokens and NFTs. Users can switch chains with one click via the top network identifier, and the address automatically adapts (for example, SOL addresses start with SOL, ETH addresses start with 0x).
2. Built-in Advanced DeFi Tools

• Token Swap: Directly exchange tokens (e.g., SOL for USDC), with support for slippage tolerance settings.
• SOL stake: Choose a validating node to stake SOL through the "Earn" function, with daily updated earnings.
• Perpetual contract trading (added in July 2025): Launched mobile perpetual trading in collaboration with Hyperliquid, supporting over 100 markets including BTC, ETH, with up to 40x leverage (not available in regulated regions such as the UK).

3. NFT and Innovative Features

• NFT display: Automatically categorizes collectibles without manual addition.
• Camera Mint (launching in July 2025): Convert mobile photos or 15-second videos to Solana NFT with one click, the process only takes 4 steps.

Installation and Setup Guide

1. Download and install: Visit the official website phantom.app to download the extension or mobile app, and only obtain from official channels to avoid counterfeit risks.
2. Create or import Wallet

• Create a Wallet: Set a name and password (a combination of letters and numbers with more than 8 characters), handwritten backup of 12 mnemonic words (do not take screenshots), complete the word verification.
• Import old Wallet: Restore using private key or mnemonic phrase.

3. Security Configuration

• Enable "Hide Personal Data" privacy mode to prevent information leakage through screenshots.
• Connect hardware wallets (such as Ledger) to enhance security.

##Basic Operations and Advanced Features

• Receive assets: Click "Receive" to copy the address and transfer assets from an exchange or another wallet.
• Send Assets: Enter the receiving address and amount, confirm that the network type matches (e.g. send SOL Token on the SOL chain).
• Connect DApp: Access platforms like Magic Eden, click "Connect Wallet" and authorize Phantom.
• Perpetual Trading (Mobile): Manage margin and set take-profit and stop-loss orders in the "Home" tab, with funds automatically converted from SOL to USDC to simplify the process.

##Key Points for Security Protection

• Mnemonic phrase management: Offline storage of mnemonic phrases can be done using fireproof and corrosion-resistant metal plates.
• Anti-phishing measures:
  • Verify the correctness of the DApp URL.
  • Confirm the address and amount in the transaction confirmation popup before proceeding to prevent malicious contract attacks.
• Fund security: It is recommended to conduct a small test (such as 10 USDT) for the first operation, and then proceed with larger transactions after familiarizing yourself with the process.

##2025 Innovation Trends

1. Camera Mint: Users can quickly convert life moments into NFTs with the following steps: → Enter the "Collectibles" tab → Click "+" → Choose to take a photo or upload from the album → Name it and pay the Gas fee.
2. Mobile perpetual contracts: Gradually being launched, will cover more users in the coming weeks, providing a centralized exchange-level experience without asset custody.

##Must-Read Advice for Beginners

• Familiarize yourself with chain characteristics: Cross-chain transfers (such as USDT) require confirmation that the target platform supports the same chain (such as ERC20), otherwise assets may be lost.
• Gas fee management: SOL chain transaction fees are usually below $0.01, and priority fees can be increased during network congestion.
• Education First: Utilize Phantom's built-in risk alerts and educational mode to understand the risks of liquidation in leveraged trading.

##Conclusion Phantom has evolved from a single Wallet into the DeFi hub of the Solana ecosystem, combining NFT creation, staking, derivatives trading, and multi-chain support, becoming the core entry point for users to explore Web3. Its continuously iterated features (such as Camera Mint and perpetual contracts) and stringent security design balance innovation and reliability, making it an ideal choice for both beginners and experienced users. With the recovery of the Solana ecosystem (TVL quarterly rise of 32%), Phantom's ecological position will be further strengthened.