• Pha𝖓tom Wallet - Pros / Co𝖓s

    Here are some of the advantages and disadvantages of using the Phantom wallet.

     

    Pros

     

    The wallet is user-friendly and is available on multiple browsers (Chrome, Brave, Firefox, and Edge)

    The wallet features a built-in swap

    Supports a hardware wallet (Ledger) for increase security

    Is a non-custodial wallet. Only you can access your private keys and your crypto funds.

     

    Cons

    Phantom wallet is a new wallet, as it was launched in 2021.

    Phantom wallet is dedicated to the Solana ecosystem and doesn’t support other networks.

    How to use Phantom wallet?

    The Phantom wallet can be downloaded as a web extension and is easy to use. You only have to install the plugin, create a new wallet, or import an existing one using the seed phrase.

     

    The wallet will display your portfolio balance, allow you to send and receive coins, as well as give you access to the other functions.

     

    Is Phantom wallet the MetaMask of Solana?

     

    Turns out that Phantom wallet is the MetaMask of the Solana Ecosystem. And since the SOL platform doesn’t seem to stop from developing and launching new decentralized applications anytime soon, you’ll likely need a Solana wallet if you want to interact with it.

     

    Being relatively new, more features will be added over time. So far, it looks pretty nice and ready to hold, swap, and stake SOL, in a non-custodial way.

     

    In short, SOL tokens can be traded on the Solana blockchain network with the help of Phantom Wallet. For your help, we have described the step-by-step guide to withdraw SOL tokens above in this post. Make sure to type the use the correct password or seed phrase details while accessing your wallet. If you face any type of trouble during the withdrawal process, check that your device is connected to the internet or not.