Phantom is a popular self-custodial wallet designed for the Solana blockchain. It is presently available as a free browser extension for Brave, Edge, Firefox, Chrome, and Opera Browser. Users can manage their crypto assets and NFTs, trade, stake, and access DeFi apps on the Solana blockchain with Phantom.
Being a Web3 wallet, Phantom does not keep its user's private keys and provides users full custody of their cryptocurrency and wallet. Phantom Wallet is the fastest-growing virtual currency wallet, with over two million registered users after six months of release.
Following are some of the top services provided by Phantom:
Swap Tokens
You can swap tokens on Solana using the wallet's in-built DEX (decentralized exchange). The wallet lets you swap between Raydium, USDC, Serum, USDT, Solana, and others. The in-built DEX of the Phantom Wallet has facilitated token swaps and eliminated the requirement to connect to additional decentralized apps or move funds. Users only require sufficient SOL (Solana token) to pay the relatively low transaction prices.
Stake Solana
The wallet enables users to stake SOL in the web app, where they can generate interest on their funds. To stake Solana, you choose a validator from the supported menu. Before picking up a validator for staking, it's better to do some research work.
Compatibility with Ledger
Ledger is a hardware wallet supported by Phantom. This means users can keep their assets safe in the confines of a Ledger wallet. Before connecting to the Ledger wallet, you must install the app from Ledger Live. Then you can pair and connect the Phantom Wallet and address.
User-friendly App
With the Phantom for iPhone and Android mobile app, you can quickly use a digital currency wallet and your desired Web3 Applications. You can do everything with this mobile app on a desktop PC, like swapping, receiving, sending, and earring.