What is Cryptocurrency Wallet Phantom?
Cryptocurrency wallets began to be used with the adoption of cryptocurrencies. Users began to prefer decentralized cryptocurrency wallets instead of storing their cryptocurrencies in centralized exchanges. Thanks to cryptocurrency wallets, users; buy, sell, store and transfer cryptocurrencies.
Thanks to blockchain technology, you can check which transactions were made and when through the blockchain browsers of wallet addresses. We can say that the most used wallet in the Solana network is Phantom.
Phantom cryptocurrency wallet app or plugin; It works compatible with the most common internet browsers such as Chrome, Firefox, Brave and Microsoft Edge.
Phantom is a cryptocurrency wallet mostly used for transactions on the Solana blockchain. Users use cryptocurrency wallets to store assets or transact on decentralized applications of blockchains.
How to Set Up Phantom Wallet?
First of all, we open Phantom's website in our browser. Then we continue the process by clicking the Dowland for Chrome (whichever browser you are using) box.
After clicking the download button, Phantom directs us to the Chrome web store.
By clicking the Add to Chrome box at the top right, we start the process of installing Phantom on our browser.
In the new tab that opens, we click on the Create Wallet button.
After clicking the Create a Wallet button, Phantom gives us 12 words respectively. These words are called Phrase Words.
Phrase Words is very important for the security of your wallet. You can use Phrase Words to log into your wallet from another browser.
When you delete and reload your Phantom wallet, you will need Phrase Words to log into your wallet. Otherwise, it will be impossible to access your wallet.
Storing your words somewhere other than digital media can prevent you from losing your assets in case of hacking.
So make sure you keep your Phrase Words safe and somewhere you won't lose them. The most effective solution for this is to record it in a physical notebook.
Features of Phantom Wallet
If you want to deposit your cryptocurrencies into your Phantom wallet; Click on the Deposit button. Then, after selecting the cryptocurrency you want to deposit to your Phantom account, your deposit address will appear. You can deposit cryptocurrency to your Phantom account using a QR code or your wallet address.
The icon consisting of 4 squares at the bottom of your Phantom wallet represents your NFTs. If you send an NFT to your wallet, you can view it with its image in this section.
You can perform a swap transaction by clicking on the icon consisting of two arrows facing different sides, right next to the NFT tab.
Additionally, you can view all your transactions on the wallet by clicking on the lightning bolt icon.
You can also view the applications on the Sol network by clicking on the world icon next to the lightning bolt icon.
