"Phantom Wallet Surpasses 15M Users, Raises $150M in Series C"
1min read Phantom Wallet: A Comprehensive Guide to Setup and Usage
Phantom Wallet, a multichain, non-custodial wallet originally built for Solana, has evolved to support Ethereum, Polygon, Bitcoin, and other networks, making it a versatile choice for crypto users. It offers built-in features like token swapping, staking, and NFT management, along with robust security measures such as encryption, biometric authentication, and hardware wallet integration. Transaction fees vary by blockchain, with Solana remaining cost-efficient, while Ethereum fees fluctuate based on network congestion; Phantom helps optimize gas costs automatically.
Phantom Wallet, founded in January 2021, has grown to boast notable metrics in the crypto ecosystem. As of January 2025, it has over 15 million monthly active users, facilitated $20 billion in annual swap volume, processed 850 million on-chain transactions, and holds $25 billion in self-custody assets within its wallets. In January 2025, Phantom secured a $150-million Series C funding round, co-led by Sequoia Capital and Paradigm, elevating its valuation to $3 billion.
Key features of Phantom Wallet include:
- User-centric interface with real-time token balances, transaction history, and market prices
- Multichain compatibility (Solana, Ethereum, Bitcoin, Polygon, Base, Sui, among others)
- Integrated swap function for exchanging cryptocurrencies directly within the wallet
- Crosschain swapping and bridging between networks like Solana, Ethereum, Polygon, and Base
- Robust NFT support for storing, viewing, and managing NFT collections
- Advanced encryption techniques, biometric authentication, and hardware wallet integration for enhanced security
- Staking capabilities for SOL token holders
- Trending tokens and DEX integration for seamless token swapping
Setting up a Phantom wallet is a straightforward process that can be completed on both desktop browsers and mobile devices. For desktop users, visit the official Phantom website, select your preferred browser, and follow the instructions to add the Phantom extension. Once installed, open the extension and 
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