Phantom wallet guide

Wallet Provider: Phantom

Official Website: https://phantom.app/

Compatible Operating Systems: Brave, IOS, Android, Chrome, Firefox, Edge

Description: Phantom is a popular dedicated Solana wallet. Designed as a web browser plugin, users are able to send cryptocurrency and interact with various decentralized apps. It can be installed as a browser extension for various leading browsers such as Google chrome and brave.

Phantom wallet allows users to store keys for Solana, SPL Tokens and NFTs on three different web browsers. Phantom also enables users the ability to browse the Solana blockchain from a browser.

Supported Cryptocurrencies: The current supported cryptocurrencies, which can be received to, sent from, and stored in Phantom are Solana and tokens hosted on the Solana network.

Step 1: The first step is to install Phantom to your browser of choice. It will have to be supported by Phantom and should only be downloaded from their official site.

You can choose your desired browser once you click the download button at the top right of the page.

Once you have selected your browser, you can then add Phantom as a browser extension.

Step 2: Creating a new wallet is the next step. Here you will have the opportunity to create or recover an old wallet. If this is your first Phantom Wallet, then you will need to click ‘Create a new wallet’. ‘I already have a wallet’ will only need to be used if you have an existing Phantom Wallet that you need to gain access to. The reason for this may be because the device you had the original wallet on was corrupted or lost.

Step 3: Setting up your password and recovery information is the next step.

Once your password is created, you’ll be presented your recovery phrases securely its important to store these securely, preferably having two physical copies kept for your eyes only would be wildly recommended. Never share your Secret Recovery Phrase with anyone, if someone has access to your secret phrase, they will have access to your wallet. Phantoms website hosts resources covering the importance of its security mechanisms for users who are not well informed on the subject.

Step 4: Once the recovery phrases have been recorded, you will then be taken to the main page of your wallet. The default coin is SOL, further tokens can be added via the add token button. As sending your Solana and other tokens will always incur a mining fee, before being able accept SPL tokens a wallet must be generated in a process that will cost an insignificant amount of Solana to generate.

Phantom wallet will come equipt with Solana as standard. However, you can add various tokens via the search bar, once added they will be displayed on the main page through the ’Mange token list’ and selecting ’add custom token’.

Step 5: Locating your wallet address is the next step. There are several ways to retrieve your wallet address. One way is to access it is simple clicking the very top of the interface to copy the full wallet address. The wallet address is what you will need to provide to whoever is sending you the cryptocurrency.

Step 6: Sending cryptocurrency from Phantom is the next step. You can send out cryptocurrency by clicking on the coin you are looking to transfer. You will be taken to the coins page where there will be two options to send or deposit. You will need to click ‘send’; this will take you to the send menu. Here you can paste the receiver’s wallet address, enter the amount you want to send and adjust the fee. Low fees will take longer to process and may even be returned.

Step 7: Buy Cryptocurrency and send to your Wallet

You will first need to register with us: https://www.bcbitcoin.com/login/?register=1

Then you need to go to our website and click "Buy Coins" or use the following link: https://www.bcbitcoin.com/buy/

You can purchase a wide range of Digital Assets through our platform, including cryptocurrencies compatible with Phantom.

To place an order for Cryptocurrency:

1.    Select the Cryptocurrency you would like to purchase and enter the amount you would like to spend on the Coin.
2.    In the field “Your Wallet Information” provide us with the Cryptocurrency Wallet Address where you wish to receive Cryptocurrency.
3.    Complete your order and make a payment to our account.

Once you have doubled checked your order and wallet information click “next step” to continue.
We check all wallet addresses on the public blockchain to ensure they are valid wallet addresses.
If you are still unsure, please email/call us and we will be pleased to assist you.

Phantom Wallet Overview

Advantages

• Browser extension allows for quick access

• Direct integration with Solana apps

Disadvantages

• Limited to Solana-based tokens and assets

• Requires good knowledge to use full capabilities

• While Phantom does not have access to your info, the browser you are using will. Most browsers such as Chrome collect user info, which could compromise one’s privacy.

Conclusion

Phantom is a great gateway to interact with Solana-based assets and secure cryptocurrency. It easy to use interface and additional features make a solid option not only for its various use cases but also different levels of investors. It offers a useful swapping service, in conjunction with easy integration with dapps, hardware wallets, and its mobile app. Online wallets do not offer the increased protection of cold wallets, but with its additional intergrations with ledger, it is a great starting place for those interested in Solana and its associated tokens.

BC Bitcoin Resources

Articles: https://www.bcbitcoin.com/articles/

Twitter: https://twitter.com/bc_bitcoin

Buy Coins: https://www.bcbitcoin.com/buy/

Additional Phantom Resources

Phantom Social Media: https://twitter.com/phantom

Contact Phantom Support: https://help.phantom.app/hc/en-us

Disclaimer: The information provided in this article is intended for informational purposes only. It is the readers responsibility to complete their own research and due diligence. BC Bitcoin will not be held responsible for any investment or transaction decisions you make based on the information provided on the website.