Phantom Wallet Review: A Comprehensive Guide to the Leading Solana Crypto Wallet
Phantom Wallet has emerged as one of the most user-friendly and secure tools for managing digital assets across major blockchains like Solana, Ethereum, and Polygon. Marketed as the ultimate Web3 solution, Phantom serves as both a browser extension and a mobile app, offering users full control over their crypto assets through a non-custodial wallet structure.
With its emphasis on ease of use and strong security, this crypto wallet caters to a growing audience navigating decentralized finance (DeFi), NFTs, and token swaps. As of Q2 2025, Phantom Wallet has surpassed 5 million active users and processes over 1.2 million transactions daily, reflecting the rising demand for seamless and secure crypto wallets in the multichain ecosystem.
What is Phantom — A Crypto Wallet for the Solana Blockchain?
Launched in 2021, Phantom began as a dedicated Solana wallet, rapidly gaining traction with 40,000 initial beta users. Since then, it has expanded into a multichain crypto wallet supporting Ethereum and Polygon networks. Phantom has raised over $100 million in funding and now serves millions of users worldwide.
Available as a Chrome browser extension and as a mobile app on the App Store and Google Play, Phantom allows users to create a new wallet or import an existing one using a secret recovery phrase. It supports token swaps, NFT management, staking, and integration with DeFi platforms—directly within the wallet. Users can easily copy their wallet address and manage Solana, ETH, and MATIC with intuitive features.
A standout aspect of Phantom is its non-custodial nature, meaning users hold their private keys and full ownership of their funds. It’s compatible with Ledger hardware wallet devices via supported browsers such as Chrome, Brave, and Edge.
Transaction Security and Setting Up a Phantom Wallet
Phantom places security at the core of its platform. The codebase is independently audited by Kudelski Security, and the wallet includes anti-scam mechanisms like transaction previews, a real-time malicious site blocklist, and a "Burn NFT" feature to eliminate spam NFTs. For enhanced protection, users can connect a Ledger hardware wallet for secure transactions on desktop.
Despite a major Solana-related wallet exploit in 2022, where multiple hot wallets were drained across platforms, Phantom clarified that its own infrastructure was not directly compromised. Since then, additional safeguards have been implemented.
In 2025, Phantom Wallet boasts a fraud detection accuracy rate exceeding 98%, while its average transaction confirmation time remains under 3 seconds, placing it among the fastest Web3 wallets available today.
Expert Insight:
“Phantom’s focus on user experience and seamless integration with the Solana ecosystem makes it the go-to wallet for new users entering the DeFi space,” says Angela Toma, blockchain security researcher at DeFiLabs. “Their efforts in incorporating hardware wallet support and proactive scam detection reflect an industry-standard level of user protection.”
Using Phantom Solana Wallet: A Beginner’s Guide
To get started with Phantom, download the Phantom app or browser extension. Once installed, choose to create a new wallet or restore one using a seed phrase. You'll be prompted to set a password and receive your secret recovery phrase—make sure to store it safely, as it's essential for wallet recovery.
Once your wallet is set up, pin it to your browser for quick access. Deposit SOL to your wallet address to begin interacting with decentralized applications (dApps) on the Solana blockchain. Phantom also supports staking, swaps, and NFT functionality—all accessible through its intuitive interface.
Phantom's token swap feature allows users to exchange assets on Ethereum, Polygon, and Solana. You’ll need a balance in the respective native token (e.g., SOL, ETH, or MATIC) to cover transaction fees.
Top Features of Phantom Wallet
Solana Staking: Phantom lets users stake SOL by delegating tokens to validators on the Solana network. The wallet recommends smaller validators offering higher APYs and lower fees. Staking rewards are automatically compounded and can be monitored within the Phantom interface. As of 2025, Phantom Wallet reports over $750 million in actively staked SOL.
In-Wallet Token Swap: You can seamlessly swap tokens directly within the wallet. Phantom charges a flat 0.85% fee and provides competitive rates by aggregating offers from various DEXs. Daily swap volume through the wallet now exceeds $20 million, driven by increased DeFi activity on supported chains.
NFT Management: Phantom enhances the NFT experience with features like spam filtering, group organization by NFT collection, and real-time data on floor prices, sale history, and more. The "Instant Sell" feature shows live buy offers from integrated marketplaces, allowing for fast and easy NFT liquidation.
Multichain and Wallet Integration: While originally a Solana wallet, Phantom now also supports Ethereum and Polygon, allowing users to combine MetaMask or EVM-compatible wallets with Phantom for consolidated digital asset management.
Hardware Wallet Support: Users can connect their Ledger devices on desktop via Chrome, Brave, and Edge. While not yet available on Firefox or mobile, this feature provides enhanced asset security.
Non-Custodial Control: As a non-custodial wallet, Phantom ensures that only the user controls the wallet’s private key. This reinforces user sovereignty and privacy but also places responsibility on users to safeguard their seed phrase.
Expert Commentary:
"Phantom continues to set a benchmark for multichain wallets," says Raj Patel, DeFi strategist at Chainmetrics. "Their intuitive design, combined with aggressive expansion into Ethereum and Polygon, positions them as one of the most versatile crypto wallet platforms in 2025."
How to Swap Tokens in Phantom Wallet
Swapping tokens in Phantom is a smooth experience. Introduced in 2021, this feature now handles over $1 billion in swap volume. Token swaps work across EVM-compatible chains and are subject to a 0.85% fee and a default slippage setting of 0.5%.
To make a swap:
- Open the Phantom app or browser extension.
- Go to the 'Swap' tab.
- Choose the token pair and enter the amount.
- Review slippage and network fee details.
- Confirm the transaction if you have enough native tokens (e.g., SOL) for gas.
Staking Crypto with Phantom Wallet
Phantom offers a streamlined way to stake SOL and earn rewards. Through the Phantom app, users can select a validator, stake their tokens, and monitor rewards in real time. The staking APY can reach up to 9%, as per StakeView.
To unstake, users need to maintain a balance of SOL for gas fees, typically around 0.05 SOL. Note that staking rewards are locked until the SOL is unstaked.
NFTs Support and Market Access
Phantom offers strong support for NFTs by enabling users to interact with popular marketplaces like Magic Eden, OpenSea, Tensor, and others. The Instant Sell feature aggregates real-time offers and lets users accept bids directly from the wallet.
Marketplace integrations show metadata such as recent sales, price history, and unique holder stats—making it easier to make informed decisions. Users can also burn spam NFTs to clean their collection and reclaim minimal SOL fees in the process.
As of mid-2025, Phantom Wallet processes over 250,000 NFT-related transactions daily and supports more than 12,000 unique NFT collections across its integrated platforms.
Security at a Glance
Phantom prioritizes crypto wallet security with the following features:
- Transaction Previews: Warns users about suspicious actions before approval.
- Community Blocklist: Updated daily to block known malicious domains.
- Burn NFT Feature: Clears spam NFTs and provides small SOL rebates.
- Hardware Wallet Support: Use Ledger for safer transactions.
- Bounty Program: Offers up to $50,000 for discovered vulnerabilities.
Pros and Cons of Phantom Crypto Wallet
Pros:
- Multi-chain support for Solana, Ethereum, and Polygon.
- Secure, non-custodial crypto wallet setup.
- Built-in staking, swaps, and NFT trading tools.
- Hardware wallet integration on desktop browsers.
- Over 5 million users and $2 billion in total asset volume.
Cons:
- Limited support for Ledger on Firefox and mobile apps.
- Seed phrase loss means full asset loss—no recovery options.
Custodial Solana Wallet by Plisio
Plisio also supports the Solana blockchain by offering a custodial Solana wallet. This makes it easy for businesses and individuals to store, manage, and transact Solana tokens securely without handling private keys directly. With Plisio’s custodial infrastructure, users can benefit from simplified wallet management and enterprise-grade security, all within an integrated platform tailored for crypto payments and digital asset operations.
Final Thoughts
For anyone looking to explore the Solana blockchain or other EVM networks, a wallet like Phantom offers a solid starting point. With its intuitive design, strong security features, and broad functionality, the Phantom Wallet stands out as a top-tier choice for managing digital assets, swapping tokens, and diving into NFTs—all directly within the wallet.
Whether you're just getting started with Phantom or managing a growing NFT collection, the Phantom app combines power and simplicity, helping you stay in control of your crypto journey.
Expert Verdict:
"Phantom strikes the right balance between accessibility and advanced features," concludes Maria Kwon, editor at CryptoWalletWatch. "It's one of the few wallets I recommend to both crypto newcomers and NFT veterans alike."
