Phantom Wallet for Solana Set Up: How to Buy Solana NFTs

Phantom Wallet for Solana Set Up: How to Buy Solana NFTs

byCorporate Trash

4/11/2022

The Solana Phantom wallet is the most popular cryptocurrency wallet that can be used to buy Solana NFTs. Although Ethereum is by far the largest blockchain in terms of NFT volume, Solana has been rapidly increasing in popularity.

With the news of OpenSea adding Solana NFTs to its ecosystem, there has been more interest in how someone can purchase NFTs on Solana. But to buy Solana NFTs, you’ll need to setup a Phantom Wallet first.

To learn more about Solana NFTs, check out our piece about why Solana NFTs are different than others, and how people can benefit from low gas fees and fast network speed. Be sure to check out this Beginners Guide to Solana NFTs before setting up your Phantom wallet for Solana.

What is Phantom Wallet for Solana?

Phantom wallet is a non-custodial wallet like MetaMask. It holds your $SOL cryptocurrency and can be used to purchase Solana NFTs across the web. It also offers a variety of additional features, including:

  • Solana staking to earn rewards
  • Quick swapping to other cryptocurrencies
  • Solana Pay and partnership with MoonPay to buy crypto quickly
  • Support for hardware wallets like Ledger
  • Security features like signing simulations, biometrics, and integration with 1Password
  • Integrations with other Solana and DeFi projects, like Orca, Metaplex, Raydium and more

Many other Solana wallets exist, like Trust Wallet, StrikeX, and Solflare. However, Phantom is the most popular and well-known option currently out there. It is highly trusted by the Solana community.

Phantom Wallet Setup: Step-by-Step

It’s simple to get started and start buying Solana NFTs with a Phantom Wallet. You can use a variety of web browsers and/or the iOS app to buy, sell, and view your NFTs.

Phantom Setup on Desktop

Just like MetaMask for Ethereum NFTs, this is a non-custodial wallet. That means you own the private key — also known as secret recovery phrase or seed phrase.

Do not share this recovery phrase with anyone or they will have access to all of your Solana NFTs and your Phantom wallet. You may lose access to all of your crypto on this wallet. Be sure to keep it in a secure place and don’t lose it. You will need it if you ever need to log into your wallet on a different device, or if you lose access somehow.

The Phantom desktop app is available on Chrome, Firefox, Brave, and Edge.

  1. Visit https://phantom.app/download on one of the supported browsers. It will ask you to install the Phantom extension. Once that’s installed, click “Create a new wallet.”
Phantom wallet Solana Setup: Create a Phantom Wallet
Solana Phantom Wallet Setup: Create a Phantom Wallet

2. Next is your secret recovery phrase, which will be used for your new wallet. Again, do not lose this and never share it. Once you have written it down and otherwise secured it somewhere private, you can continue in the process.

Phantom wallet Solana setup
Phantom wallet Solana setup: Seed phrase

3. It will then ask you to create a password to unlock your wallet locally. Please note this is not the same thing as a seed phrase! You can always restore your wallet anywhere from your seed phrase.

A password allows you to log-in to a device that already stores your wallet information.

Phantom wallet Solana setup
Phantom wallet setup

4. That’s it! You now have your Phantom wallet for Solana. You can pin the extension in your browser for easy access.

Phantom wallet Solana setup
Phantom wallet setup

If you need to buy $SOL for your wallet, Phantom has a fantastic list of where you can purchase some, but Coinbase is the most popular option for American users.

Phantom Wallet on Mobile

At the time of this post, Phantom wallet is not available publicly on Android. However, they recently released the iOS app for iPhone. It works the same way that the desktop plugin does.

For both operating systems, beware fake links to apps in the app store that will scam you! Be sure to check the official Phantom website for the links before setting up your Phantom wallet on mobile.

Phantom Wallet Solana for iOS Mobile
Phantom Wallet Solana for iOS Mobile

Buying Solana NFTs with Phantom Wallet

There are multiple marketplaces where you can connect your Phantom wallet to buy Solana NFTs. These marketplaces include OpenSea, Magic Eden, Solanart, Solsea, Digital Eyes, Alpha.art and more. You can also mint Solana NFTs on project websites by connecting your wallet.

When you connect to a Solana project minting page or marketplace page, you will see a button option to connect your wallet. This one uses Solana Monkey Business marketplace as an example. When you click connect, it will give you the option to use your Phantom wallet.

Phantom wallet Solana connect to Solana Monkey Business
Phantom wallet website connect to Solana Monkey Business

Your Phantom wallet will then show an option to connect. It will show you exactly what the wallet is asking for. In this case, it’s not asking to take $SOL out of your wallet yet. Be sure to read what the app is trying to do before connecting.

You can revoke access to a site by going into the settings (gear on the bottom right of your Phantom wallet), and selecting “Trusted Apps”. It’s good practice to revoke access to sites you haven’t used in a while. You can always reconnect later.

Phantom wallet Solana
Phantom wallet Solana Revoke

TL;DR — Phantom Wallet for Solana

Solana is the No. 3 blockchain for NFT sales volume, only behind Ethereum and Ronin. According to cryptoslam.io, there have been over 72,000 unique NFT buyers on Solana in the past 30 days. The largest Ethereum NFT marketplace OpenSea just added Solana NFTs to its platform.

All of these quick facts show that people are bullish on the future of Solana, with low fees and quick transactions.

Setting up a Phantom wallet and loading it with Solana cryptocurrency is the easiest way to get started in Solana NFTs. Enjoy nearly gas-free minting and lightning-fast speed, all while supporting your favorite artists. Be sure to check out this Beginners Guide to Solana NFTs on MomentRanks for more about Solana.

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