"Phantom Wallet: Revolutionizing Crypto Self-Custody"

Coin WorldSunday, Feb 9, 2025 9:11 am ET
1min read

Phantom, a popular self-custody cryptocurrency wallet, has gained significant traction among users due to its user-friendly interface and multi-chain support. Launched in 2021, Phantom was initially designed for the Solana blockchain, allowing users to store, send, and receive Solana-based tokens. However, it has since expanded its support to include Ethereum, Base, Polygon, and Bitcoin.

Phantom offers a range of features, including built-in send, receive, buy, and swap functionalities, eliminating the need for centralized exchanges. It also provides access to decentralized applications and websites, such as NFT marketplaces like OpenSea and Magic Eden. Initially launched as a desktop browser extension, Phantom has since expanded to include mobile apps for iOS and Android.

To use Phantom, users can download and install the official extension for their preferred browser, which includes Chrome, Brave, Firefox, and Edge. Once installed, users can create a new wallet or restore an existing one. Phantom allows users to set up a wallet using an email address or a seed phrase, with the latter providing twelve random words to record for future use.

Phantom supports multiple blockchains, including Solana, Ethereum, Base, Polygon, and Bitcoin. Users can send, receive, buy, and swap crypto without relying on third-party exchanges to manage their assets. The wallet is compatible with decentralized exchanges (DEXs) such as Uniswap, Jupiter, Mango, and SushiSwap.

Phantom enables users to buy cryptocurrency using various payment methods, including PayPal, Coinbase, Robinhood, and Stripe. Sending and receiving cryptocurrency with Phantom is simple, with users having the option to generate a scannable QR code or copy and paste their wallet's cryptocurrency address.

Phantom supports cross-chain swaps between Bitcoin, Solana, Ethereum, Base, and Polygon. Its built-in swap feature allows token trading without an external exchange, providing a convenient and secure way to manage assets, particularly for decentralized finance (DeFi) users.

Phantom prioritizes security with features such as transaction previews, an open-source blocklist, spam NFT burning, and support for hardware wallets. In 2023 alone, Phantom claims to have scanned 85 million transactions and blocked 18,000+ wallet

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