Phantom
score
Fees: free; network fees + in-app swap spread
A great pick for Solana-first users and newcomers who value a clean, guided experience. Multichain support is real but less mature than dedicated EVM wallets. Guard your recovery phrase, since scam dApps frequently target Solana users.
What Phantom is
Phantom is a free, self-custodial wallet that launched in 2021 and made its name as the go-to wallet for the Solana ecosystem. Available as a browser extension and mobile app, it has since expanded to support Ethereum, Polygon and Bitcoin, though its roots and deepest features remain Solana-centric.
How it performs where it matters
Phantom's headline strength is UX, and our 9 reflects that: onboarding is guided, the interface is clean, and it is genuinely welcoming to newcomers. dApp and DeFi integration (8.5) and self-custody (8.5) are strong, with a clear backup flow and built-in transaction simulation that warns you about wallet-draining transactions. Security (8) and asset and chain support (8) are good rather than exceptional, since multichain coverage, while real, is less mature than dedicated EVM wallets.
Fees
The wallet is free. You pay the underlying network fees for whatever chain you transact on, and Phantom's in-app swap feature can carry a spread that is sometimes wider than routing a trade through an external aggregator. There is no charge for holding assets or for the wallet itself.
The risk to keep in mind
Solana has been a frequent target for scam dApps and drainer attacks, so the usual rule applies with extra force here: never share your recovery phrase, and treat unexpected token approvals with suspicion. Phantom's client is also closed-source, which limits independent code review compared with fully open wallets.
Who should use Phantom
Phantom is an excellent fit for Solana-first users and newcomers who want a polished, low-friction experience with staking and NFTs handled natively. If your activity is mostly on Ethereum or you want the deepest possible EVM tooling, a dedicated EVM wallet may serve you better, but as a Solana home base Phantom is hard to beat.
Overall 8.3 / 10 — the weighted average of the criteria above. How we score →
- + Polished, beginner-friendly interface on mobile and browser
- + Expanded from Solana to also support Ethereum, Polygon and Bitcoin
- + Built-in transaction simulation warns about draining transactions
- + Strong native staking and NFT handling on Solana
- − Deepest support is still Solana-centric despite multichain expansion
- − Closed-source client limits independent code review
- − In-app swaps can carry a wider spread than external aggregators
Is Phantom wallet safe?
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Phantom is self-custodial and includes transaction simulation that flags draining transactions, earning it 8 for security in our review. The main caveats are that its client is closed-source and that Solana is heavily targeted by scams, so protect your recovery phrase and verify every approval.
What chains does Phantom support?
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Phantom began as a Solana wallet and now also supports Ethereum, Polygon and Bitcoin. Its Solana features remain the most developed, so multichain users get solid but less mature coverage on the other networks.
Does Phantom charge fees?
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The wallet is free to use. You pay standard network fees on transactions, and its built-in swaps include a spread that can be wider than external aggregators. There is no subscription or custody fee.
How do you use Phantom?
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Install the browser extension or mobile app, create a wallet and securely store the recovery phrase it gives you. You can then receive, send, stake and swap assets, view NFTs, and connect to dApps. Its guided setup makes it one of the easiest wallets for beginners.
Is Phantom good for beginners?
+
Yes. Its 9 for UX reflects a clean, guided interface that suits first-time crypto users, particularly on Solana. Just take the recovery-phrase backup seriously and be cautious with unfamiliar dApps.