Phantom Wallet
4.5 ⭐⭐⭐⭐
Phantom Wallet
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The wallet was initially focused on the Solana blockchain. It was launched with a broad mission statement of being a crypto companion and promoting access to crypto for everyone.
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The Solana ecosystem exploded in popularity not long after the launch of Phantom, rivaling Ethereum as a hub for NFTs, meme coins, DeFi trading, and other web3 products. This helped Phantom gain popularity. However, it’s also apparent that Phantom helped Solana expand.
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Phantom is well-known for its Solana focus, yet it has recently opened up to offer support for more cryptocurrencies. The wallet’s expansion goes beyond tokens, too. In January 2025, the company raised $150 million to fund its goals of building the world’s biggest consumer finance platform.
- Security Features: 4.0 ⭐ 80%
- User Experience (UX): 5.0 ⭐ 100%
- Integration and Compatibility: 4.0 ⭐ 80%
- Transaction Features: 4.0 ⭐ 80%
- Supported Cryptocurrencies: 4.0 ⭐ 80%
- Multi-Platform: Mobile app & Web Extension
- Non-Custodial.
- Android
- iOS
- Chrome (browser extention)
- Edge (browser extension)
- Firefox (browser extension)
- Brave (browser extension)
Phantom Wallet
A crypto wallet is a necessary tool to store and manage your cryptocurrencies. If you opt for a crypto hot wallet (a web-connected application), you’ll have various options, including popular choices like MetaMask, Trust Wallet, and Coinbase Wallet. Phantom Wallet is establishing a reputation as a big player. Originally designed to support tokens based on the Solana blockchain, Phantom Wallet soared in popularity as Solana’s ecosystem grew.
Recently, Phantom extended its support for cryptocurrencies from other blockchains, including Bitcoin and Ethereum. Our Phantom Wallet review will give you all you need to know about this fast-growing crypto wallet, including how it ranks compared to rival hot wallets.
Key Features & Functionalities
Security Features
Phantom Wallet offers robust security with industry-standard AES-256 encryption and additional AES-GCM encryption for interactions with decentralized apps (dApps). It supports biometric authentication (e.g., Face-ID, fingerprint) and is fully self-custodial, meaning users control their private keys. Additional protections include anti-phishing measures, real-time transaction scanning, and integration with Ledger hardware wallets. However, it lacks two-factor authentication (2FA), which is intentional due to its no-credential setup, and only parts of its code are open-source. Despite a past incident (the 2021 “Demonic” vulnerability), Phantom has enhanced its security, making it strong but not flawless.
Integration and Compatibility
Phantom integrates seamlessly with Solana’s ecosystem, including DeFi platforms like ShapeShift, and supports staking and lending via platforms like Aave. It offers API access through its Wallet SDK for developers and has expanded compatibility to Ethereum and Polygon. While its integration is comprehensive, particularly for Solana, it may not yet encompass all possible decentralized services across other blockchains, justifying a strong but not maximum rating.
User Experience (UX)
Phantom excels in user experience with a simple onboarding process that requires no personal information, a minimalist and intuitive design, and a beginner-friendly interface. Its NFT gallery is considered one of the best among hot wallets, and an extensive help center supports users via a chatbot with escalation options. These elements make it highly accessible and enjoyable, earning it a perfect score.
Transaction Features
Phantom provides flexible transaction fees, leveraging Solana’s ultra-low costs (often a fraction of a cent), and offers some adjustable gas settings for Ethereum transactions. Transactions are fast, though speeds depend on network traffic, and users can view their transaction history. The reliance on network conditions and limited fee customization for non-Solana transactions prevent a perfect score, but the feature set is still highly functional.
Integration & Compatibility
Phantom integrates seamlessly with Solana’s ecosystem, including DeFi platforms like ShapeShift, and supports staking and lending via platforms like Aave. It offers API access through its Wallet SDK for developers and has expanded compatibility to Ethereum and Polygon. While its integration is comprehensive, particularly for Solana, it may not yet encompass all possible decentralized services across other blockchains, justifying a strong but not maximum rating.
Pros and Cons of Phantom Wallet
Pros:
Top Solana Wallet. The top crypto wallet for Solana tokens, NFTs, and related web3 activities. Phantom was built for Solana and expanded as the Solana blockchain’s influence grew.
Beginner Friendly Wallet. Phantom Wallet is often praised for its ease of setup, simple design, and intuitive interface.
NFT Focus. Phantom is one of the best wallets for NFT collectors, both in terms of how NFTs are stored on the wallet and integrations with NFT platforms.
Privacy-Focused. You do not need to provide details like phone numbers or email addresses to set up your Phantom wallet. You do not need to provide details like phone numbers or email addresses to set up your Phantom wallet.
Strong Security. Protect your crypto assets with encryption, biometrics, and built-in scam warnings & transaction scanning.
Cons:
Solana First. While Phantom has recently added support for more tokens, it remains a Solana-first wallet, with many features limited to Solana and Solana-compatible tokens.
Not Fully Open Source. Only some elements of the Phantom Wallet are open-source.
No Direct Fiat Onboarding. Users will need to fund their wallets through external services like Coinbase or Moonpay.
Limited Customer Support. Limited customer service options, relying primarily on FAQ database and chatbot.
Security Features
AES encryption
Phantom uses industry-standard AES-256 encryption. The wallet is enhanced by additional encryption methods, including AES-GCM encryption when the wallet interacts with decentralized apps (dApps).
Biometrics & Two-Factor Authentication
The wallet is compatible with biometrics (Face-ID, fingerprint). 2FA is not supported. This is by design, as setting up the wallet does not require 2FA-related credentials like phone number and email.
Multi-Signature Support
Not natively supported but can be implemented with 3rd party integration contracts.
Self-Custodial
100% self-custody. You are in control of your private keys and seed phrase.
Partially open-source
Some aspects of the Phantom Wallet are open source, allowing developers to audit the code. Others are closed-source.
Supported Cryptocurrencies
Supports all Solana-based tokens
Phantom was launched as a Solana-focused crypto wallet. Its primary focus is to offer support for Solana NFTs, staking, meme coins, etc.
Multi-token support now offered
Phantom has recently expanded its token support to include major chains like Ethereum, Bitcoin, and Polygon. The main focus remains Solana, but options for staking Ethereum tokens are offered.
User Experience (UX)
Simple Onboarding
Set up your Phantom wallet in minutes. No email, phone number, or name is needed.
Minimalist Design
Simple design and easy-to-use interface. Phantom is often cited as one of the most beginner-friendly crypto wallets. Phantom’s NFT gallery is considered one of the best of any hot wallet.
Customer Support
Phantom has an extensive help center for customer queries. Wallet users can find help through the platform’s chatbot. A response program is initiated if the chatbot fails to resolve issues.
Integration & Compatibility
DeFi Integration
Phantom is deeply integrated with Solana’s crypto ecosystem, including compatible decentralized finance (DeFi) platforms like ShapeShift.
Swaps, Staking & Lending
You can stake and earn from Solana tokens directly in the wallet. Phantom is increasing its capacity for swaps of multiple tokens. DeFi lending platforms like Aave can be accessed using Phantom.
API Access
Developers can build on Phantom using the Wallet SDK.
Transaction Features
Flexible Fees
Solana naturally lends itself to ultra-low fees. Phantom has recently added some capability for adjustable gas settings for Ethereum transactions.
Fast Transactions
Transaction speeds are dependent on the traffic of the blockchain networks. However, there are options to delay and prioritize transactions based on network traffic.
Transaction History
View your past transactions on the wallet.
Additional Functionalities
Staking. Native staking is offered for Solana tokens. Staking for other tokens, like Ethereum, can be accessed via 3rd-party integrations.
Token Swaps. Built-in token swap feature.
Security & Risks Assessment
Past Security Incidents
Phantom has had some security incidents in the past, although most were considered relatively minor. These include the “Demonic” vulnerability, potentially exposing seed phrases being imported to web browser extensions.
Phantom acted quickly when the vulnerability was discovered in 2021, increasing the wallet security architecture.
User Protection Measures
Seed Phrase: A 12-word seed phrase is generated when creating the wallet. This will restore your Phantom wallet should you lose access.
Anti-Phishing Capability: Anti-phishing and fraud detection measures are in place, including real-time transaction scanning, NFT spam control, and an open-source block list.
Hardware Integration: Phantom supports Ledger hardware wallets, allowing users to store private keys securely offline.
Potential Risks
All hot wallets carry a certain level of risk because they are connected to the internet. These mostly come from outside threats like phishing scams.
Phantom mitigates hot wallet risks through regular software updates, user education programs, and maintaining block lists of potential malicious sites.
User Reviews & Community Feedback
Trustpilot Ratings & Reviews
Phantom Wallet has a low score on Trustpilot, averaging 1.7 out of 5 stars (68 total reviews). We would take these scores with some skepticism, as they represent a small portion of views. Phantom scores 4.8 out of 5 on the Apple App Store, based on over 17,000 reviews. Users on Android gave it 4.6 out of 5 (circa 65,000 reviews), with many praising the wallet’s ease of use.
Reddit & Crypto Community Discussions
Phantom is a relatively new crypto wallet, having launched in 2021. Its rise has been fairly meteoric, and, as previously stated, it has benefitted from the growth of Solana’s ecosystem, particularly the popularity of Solana-based memecoins and NFTs. As such, Phantom Wallet has been a talking point, mostly positive, on platforms like X and Reddit, as it is seen as a vehicle for the exciting Solana network. Phantom has over 850,000 followers on X.
Expert Reviews & Endorsements
Crypto influencers like The Crypto Priest (@CryptoPriest) have announced they use the Phantom Wallet, praising its functionality and ease of use. TokenTax, a notable cryptocurrency tax platform, also praised the wallet, summing it up aptly as the “MetaMask of Solana.”
Pricing & Cost Analysis
Creating a wallet, sending and receiving tokens, viewing NFTs, and connecting to dApps are all free.
The wallet does not have any paid tiers or premium subscriptions.
Phantom charges a 0.85% fee for in-wallet swaps. This is in addition to any network fees.
Solana transaction fees are generally very cheap (it’s one of the main attractions of using the blockchain), often a fraction of a cent. Ethereum fees can vary depending on network traffic.
Fiat on ramp fees (funding your Phantom wallet) may incur charges based on the provider, e.g., Moonpay.
Final Verdict & Recommendations
Phantom has long been cited as one of the best wallets for Solana. It’s easy to see why, as it was purpose-built for the Solana network. It has, however, expanded its reach, adding multi-network (Bitcoin, Ethereum, etc.) in January 2025. While it doesn’t have the vast range of asset support as rival hot wallets like Trust Wallet or Coinbase Wallet, it clearly intends to grow beyond its initial remit of being a Solana-focused wallet. Phantom is a great choice for Solana holders and those who wish to explore the millions of Solana-based tokens & NFTs. If that’s not your goal, it’s best to look at other options. Yet it’s also one of the easiest crypto wallets to use, so it’s a superb option for crypto beginners. We give a 4.5 out of 5 stars.
Our Rating
4.5 ⭐
⭐ 4.5 | Phantom Wallet
FAQs
Is Phantom Wallet a safe wallet?
Phantom has a good record for security, and the wallet provides extra protection with features like biometric support and built-in scam warnings. However, all hot wallets carry risks simply because they are connected to the internet. Still, if you educate yourself on risks, avoid phishing scams, and use the tools provided by Phantom, you can have confidence that your crypto is secure.
Can I store multiple cryptocurrencies in this wallet?
Yes. Phantom was initially focused on Solana. There are millions of different Solana tokens. In 2025, Phantom added support for tokens based on blockchains like Ethereum (potentially millions of different ERC-20 tokens), Bitcoin, Polygon, and Sui.
How does Phantom Wallet compare to MetaMask?
A good way to think about it is that Phantom is to Solana what MetaMask is to Ethereum. Both wallets are excellent for exploring the ecosystems of the respective blockchains. Of course, Phantom Wallet has expanded recently to support more assets, including Ethereum-based tokens. Both wallets have strong web3 features like staking and DeFi integration.
Does Phantom Wallet support hardware wallet integration?
Yes. Phantom Wallet has integration with Ledger hardware wallets. Ledger is considered one of the most trusted names in crypto cold wallets, offering a range of hardware devices to store crypto securely offline. With the Ledger integration, you can store your private keys from your Phantom Wallet offline.
How can I recover my wallet if I lose access?
You are provided with a 12-word seed phrase when you activate your Phantom Wallet. The seed phrase is a recovery password, which can restore access to a wallet (for example, if you lost the mobile device your wallet was on). You should always keep your seed phrase stored securely offline.
How to secure your crypto hot wallet
Phantom Wallet is a hot wallet, meaning it is connected to the internet. This means there is always an inherent risk, as no hot wallet can ever be 100% safe. Nonetheless, crypto users can take precautions to ensure that security breaches become highly unlikely. Above all, crypto experts advise that hot wallet holders should educate themselves on the risks.
Follow some of these steps to secure your hot wallet:
- Never share your seed phrase with anyone.
- Keep your seed phrase safely secured offline.
- Beware of clicking unknown links or downloading from unverified sources.
- Bookmark official sites and sources to avoid phishing scams.
- Use strong, unique passwords and additional features like biometrics.