The Phantom Wallet is a decentralized hot (i.e. software) cryptocurrency wallet powered by the Solana blockchain. It’s extremely accessible and easy to use. In this article, you’ll learn how to install and replenish your Phantom wallet.

Installing the Phantom Wallet

The phantom wallet is available as an iOS application and a browser extension for Chrome, Firefox, Brave, and Edge.

Once installed, the Phantom extension will be available to you in the top-right bar of your browser.

Also, Phantom wallet can be launched at any time using the Alt + Shift + P hotkeys.

Creating a new Phantom wallet

After installing the extension, you can create a new wallet or import an existing one.

To start fresh, launch the extension and click Create a new wallet.

The next step is to come up with a password and create a 12-word SEED phrase.

This phrase ensures security and guarantees that your Phantom wallet and all cryptos stored on it can be recovered if need be. Never forget it or pass it on to third parties. The seed phrase is best kept offline, written down, and in separate places. 

Transferring crypto to your Phantom wallet

The wallet runs on the Solana blockchain. The network uses its native coin SOL to pay for commissions. You’ll need some SOL to perform any transactions on the network, so let’s find out how to get that first. 

On the main wallet screen, click Solana.

In the next window, click Deposit.

After that, a window will open where you can copy your Phantom wallet address or scan the QR code.

You can also use these when withdrawing money from an exchange or another crypto wallet.

There is another way to deposit Solana on Phantom Wallet: go back to the main screen and click Deposit.

The wallet will offer two options: buy with Moonpay or transfer from FTX.

These are simplified ways to fund your Phantom wallet for those who use these services.

Moonpay is a payment system that allows you to instantly exchange fiat for cryptocurrency to use it for payments on various services.

FTX is a decentralized cryptocurrency exchange with a user-friendly interface and low fees.

If you have an account on one of them, you can authorize via Phantom and complete the transaction quickly.

Adding a token

Phantom currently supports the following currencies: USDT, USDC, Raydium (RAY), SRM (SRM), and all Solana blockchain utility tokens launched with Solana DApps.

After depositing funds to the Phantom wallet, the balance on the main page should increase by the amount deposited. However, intially, this will only work for SOL. If you replenish your balance with any other token, it will not appear on the main page until it’s added (even though the money will still be on your account). The reason for that is that tokens are stored on the blockchain, not in the wallet itself.

So if you can’t see the tokens after depositing them, don’t worry: this does not mean that the transaction did not go through, and your currency is now lost. You just need to add the desired token to the main screen. 

To do this, click Manage token list.

Search for the token by the name or find it in the suggestion list, then click the button on its right. 

Press Close, and now the token you need is displayed on the main screen.

Congratulations! After a few simple steps, you have deposited crypto into your Phantom wallet. 

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