You never go shopping for something without carrying your wallet. Similarly, if you wish to buy tokens on the Solana blockchain, you need to make sure that you have a compatible wallet to make purchases on this network. And, when it comes to choosing a Solana compatible wallet, nothing could beat the efficiency of a Phantom wallet. Well, this wallet is pretty easy to use and you can definitely go ahead with using it whenever required. Although using this wallet is completely free, you need to make sure that you have already created and set up the wallet either by downloading its extension or by installing its app on your mobile phone.
What is a phantom wallet used for?
Well, a Phantom wallet is used for fulfilling varied crypto requirements. With this wallet by your side, sending, swapping, staking, and receiving cryptos become easier for the users. However, this wallet can be used only for performing these actions on the Solana blockchain. Here, you just cannot work with crypto tokens, but also deal with NFTs, Defi, and more.
Traits of a phantom wallet
Now, the question is why should you choose only this wallet despite the availability of other wallet services. Well, the following points would help you understand this in a better way:First of all, it has a very intuitive user interface that works great for beginnersSecondly, a non-custodial wallet that comes with the token swapping featureNot just that, you can also swap tokens over itApart from this, the phantom wallet comes with the Ledger and Web3 supportBy staking SOL over it, you are subject to get rewardedAfter knowing this, it's time that you learn the procedure to set up a new Phantom wallet on your device. For the same purpose, we have listed the easy guidelines below.
A glance at creating a new Phantom wallet
Whether you own a mobile device or a PC, you can follow the given steps to get started with this wallet:To begin with, open the official phantom website on your deviceNext up, what you need to do is find and click that "Download" buttonAfter this, you simply need to choose the download option according to your device type- desktop or mobileBased on it, the phantom extension or the app would be added to your deviceNow, open the extension or the app and then click on the option to set up a new walletNote down or copy the secret recovery phrase when it is shown to youAnd then, set up a new Phantom wallet login passwordFollowed by this, you can set a keyboard shortcut and start using it.
How to stake SOL through the Phantom wallet?
In order to stake Solana through your wallet, here are some easy guidelines that can be followed in order to do the same:To begin, make sure you have set up the walletNext up, you need to deposit some SOL in your walletNow, click on the available SOL balance in your accountThereafter, what you can do is find and choose the "Start earning SOL" buttonGo through the list of validators you can choose to stake withFollowed by this, you can choose one of the desired validators from that listChoose an amount for stakingAnd then, click on the "Stake" option to end the process.
Conclusion:
As it is crystal clear from this read, you can easily work your way on the Solana blockchain network by using the Phantom wallet on your device. For this purpose, you can choose to go ahead with applying the directions that we have enlisted here.