Related Questions

[For a refresher on wallet security, read our main guide: What Is the Phantom App?]

Conclusion

The Phantom app itself is a secure piece of software built with a strong emphasis on user control and safety. However, the ultimate security of your crypto assets depends on your own practices. By safeguarding your secret recovery phrase and being constantly aware of potential scams, you can use Phantom as a safe and reliable gateway to the world of Web3.

Your security journey starts with using a trusted platform for your initial crypto purchases. Acquire your assets on the BYDfi spot market before moving them to your self-custody wallet.

Phantom Wallet is a non-custodial, multichain crypto wallet that started as a Solana-only tool but quickly grew to support Ethereum, Polygon, Bitcoin, Base, and more. Built for speed and simplicity, it lets users easily manage their digital assets across multiple blockchains from one place. Whether you're trading meme coins, collecting NFTs, or staking tokens, Phantom provides a seamless experience tailored for both beginners and experienced users.

Why Phantom Wallet Matters Globally

For crypto users in places like the US, UK, UAE, or even India, managing multiple wallets across different blockchains can be overwhelming. Phantom solves this by offering a single platform that brings all your assets together. Thanks to integrations with services like MoonPay and Coinbase Pay, users can also buy crypto directly in the wallet using USD, EUR, or other fiat currencies. It’s accessibility made simple.

Security That Gives You Full Control

Phantom is a non-custodial wallet, which means you hold the private keys—not a company. This is a critical feature for users who prioritize control and privacy. To enhance safety, the wallet also supports biometric login (like Face ID), hardware wallet integration with Ledger, and advanced transaction previews that help detect scams before they happen. In fact, Phantom's system helped block over 18,000 malicious attacks in 2023 alone.

Explore DeFi and NFTs Easily

Inside the Phantom app, users can instantly connect to top Solana dApps like Jupiter Exchange, Magic Eden, and Raydium. You can swap tokens, buy or sell NFTs, and explore DeFi protocols—all without leaving the wallet. Phantom focuses on direct dApp interaction, giving users full freedom to explore Web3.

Passive Income Through Staking

Phantom makes it easy to stake SOL directly from your wallet, letting you earn passive income (sometimes up to 7% APY). This feature is perfect for users looking to grow their holdings without actively trading. Just be sure to research validators before staking to avoid unreliable operators—a common risk in the staking world.

Designed for Everyone

Phantom is designed with simplicity in mind. From its smooth interface to quick setup process, it’s easy for beginners yet packed with tools for power users. It’s available as a browser extension (on Chrome, Firefox, Brave, and Edge) and as a mobile app on both iOS and Android.

Phantom vs Fantom: Don’t Get Confused

Some users accidentally search for  Fantom Wallet  when they mean  Phantom.  It’s important to know the difference: Fantom is a separate blockchain network, and if you’re dealing with FTM tokens, you’ll need a wallet like MetaMask. Phantom, however, is focused on Solana and multichain features—not Fantom.

Who Built Phantom?

Phantom was founded in 2021 by Brandon Millman, Chris Kalani, and Francesco Agosti. With experience from tech companies like Twitter and blockchain projects like 0x, the team launched Phantom to simplify how users interact with crypto. Their success was massive—by 2022, they raised $109 million and reached a $1.2 billion valuation.

Getting Started with Phantom

Setting up Phantom is quick. Download the extension or app from the official website (phantom.app), create a new wallet, and safely store your 12-word recovery phrase offline. You can then deposit crypto or buy it through MoonPay or Coinbase Pay. Within minutes, you'll be ready to swap tokens, stake SOL, or explore NFTs.

How Phantom Compares to Other Wallets

Phantom and MetaMask serve different needs. MetaMask is great for Ethereum and EVM-compatible networks, but it doesn’t support Solana. Phantom shines in the Solana ecosystem while also supporting Ethereum and Bitcoin. Compared to platforms like BYDFi, Phantom offers full self-custody and better NFT/DeFi integration, while BYDFi is ideal for fiat-to-crypto trading and centralized exchange tools. Many users find value in using both: Phantom for Web3, and BYDFi for centralized crypto services.

Why Millions Are Choosing Phantom

With over 15 million active users and more than $20 billion in annual swap volume, Phantom has become one of the most trusted wallets in the crypto world. Its clean design, tight security, and deep integration with dApps make it a natural choice for anyone serious about digital assets.

Final Thought: One Wallet for All

Phantom Wallet is more than just an app—it’s your all-in-one gateway to crypto freedom. Whether you're staking SOL, collecting NFTs, or managing ETH and BTC in one place, Phantom gives you the power to do it safely and efficiently. If you're using centralized platforms like BYDFi to buy or trade crypto, Phantom makes the perfect companion wallet to hold and grow your assets securely.