Phantom, the popular self-custody wallet for Solana-based decentralized applications and NFTs, announced today that it would be adding support for rival blockchains Ethereum and Polygon to its desktop, iOS, and Android apps.
The company argues that an easy-to-use self-custodial wallet is essential as an alternative to centralized exchanges and companies that handle sensitive user data.
"We are excited to bring the Phantom experience to the wider Web3 community," said Brandon Millman, CEO, and co-founder of Phantom, in a statement.
The aim, the company says, is to provide the ability to interact with the three largest blockchain ecosystems in one location and address critical usability and securities challenges in the digital collectibles market.
Phantom says it worked closely with Polygon to build a first-class wallet experience, which the company claims has already onboarded over 3 million active users. The company says it wants to make crypto more accessible to everyone by offering a simple, easy-to-use wallet with a unified interface for storing and viewing assets across multiple blockchains.
The company also says a private multi-chain beta will go live in the coming weeks, with a public launch later this year.
"The Polygon ecosystem has been growing exponentially, and we are excited about bringing more people into the Web3 ecosystem," said Ryan Wyatt, CEO of Polygon Studios. "Working with Phantom will allow us to deliver a feature-rich wallet that's ready for mainstream consumers to use when interacting with apps powered by Polygon."
Launched in 2021, Phantom was co-founded by Brandon Millman, Chris Kalani, and Francesco Agosti, who also worked on projects for 0x, Twitter, Facebook, and Matcha, respectively.
The Phantom wallet already allows Solana developers, users, and collectors to interact with decentralized finance (DeFi) protocols and non-fungible tokens (NFTs).
Agosti spoke with Decrypt at 0xpo Crossroads in November and said the idea of Phantom came from frustration with using the popular MetaMask wallet.
"[It was] frustration with Metamask, and frustration with trying to build consumer-friendly apps on Ethereum," Agosti said. "The big elephant in the room has always been transactions [on Ethereum] and can this chain actually handle mainstream usage and millions of users."
Agosti said that seeing the Solana blockchain's speed, low cost, and scalability potential helped convince the team to build on the proof-of-stake blockchain that many considered an "Ethereum killer."
But Solana's dominance among proof-of-stake blockchains ended when the Ethereum merge last summer transitioned the second largest blockchain from a proof-of-work to proof-of-stake. Naturally, Phantom would have to change with the times.
"Across every blockchain ecosystem and Web3 use-case, self-custody is now more important than ever," Millman said. "We are bringing everything crypto users need in one place while providing the best in class user experience and security."
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FAQs
Phantom wallet currently supports only Bitcoin, Ethereum, Polygon and Solana assets. Did you know that you can buy these tokens directly using your bank account? Find out more by checking out this article.
Does Phantom support polygons? ›
Phantom is compatible with Ethereum and Polygon, so you can easily use any application on either blockchain without ever having to manually switch networks.
Does phantom support erc20? ›
Phantom's in-app swapper allows you to swap ETH directly with other ERC-20 tokens within the app. If you don't have ETH, you can purchase it directly in Phantom using MoonPay, Coinbase Pay, Robinhood Connect, or PayPal.
Can phantom wallet hold Polygon? ›
Although our wallet originated on Solana, we also support the Bitcoin, Ethereum, and Polygon blockchains as well. This means you can experience Solana, Bitcoin, Ethereum, and Polygon hassle-free through one single interface—your Phantom wallet.
What tokens does phantom wallet support? ›
How to deposit BTC, ETH, MATIC and SOL in my Phantom wallet? Phantom wallet currently supports only Bitcoin, Ethereum, Polygon and Solana assets.
Can I buy Ethereum on phantom wallet? ›
Phantom brings you a fast and easy way to buy SOL, ETH and MATIC. We have integrated MoonPay, CoinBase Pay, Robinhood Connect, and PayPal so you can purchase these assets directly from your wallet.
How to swap sol to ETH? ›
How to swap SOL to ETH
- Choose the crypto exchange pair. Choose Solana in the “You send” section. ...
- Enter the recipient's address. Now you need to enter the recipient's Ethereum address. ...
- Send the deposit. In order to proceed the efficient and reliable swap, the deposit is required. ...
- Receive cryptocurrencies.
While you can't directly add Solana, some workarounds allow you to access Solana tokens within MetaMask. This includes using wrapped Solana tokens on networks like Binance Smart Chain or connecting a separate Solana wallet like Phantom to MetaMask.
How do I add Ethereum to my Phantom wallet? ›
Step 1: Launch the Phantom wallet extension or open the Phantom app on your mobile device and click/tap on the “Deposit" button. Step 2: Search for ETH, MATIC or SOL and select the token to view the deposit address and/or the corresponding QR code. Step 3: Click on the "Copy" button to copy the deposit address.
Is Phantom an EVM wallet? ›
EVM (Ethereum Virtual Machine): EVM is a computational engine that enables the execution of smart contracts on the Ethereum blockchain. Its support in the Phantom wallet means users can now interact with Ethereum-compatible decentralized applications seamlessly.
Comparison Of The Best Solana Wallets
| Asset Type | Number of Currencies Supported | Compatible Hardware |
|---|
| Mathwallet Best for dApps | Over 170 blockchains | Yes |
| Atomic Wallet Best for Earning Rewards | 1,000+ | No |
| Phantom Wallet Best for Ease of Staking | Not specified | Yes |
| Exodus Wallet Best for Beginners | 300+ | Yes |
1 more rowPhantom, which supports only one blockchain, is simpler to use than Metamask, which requires switching between different blockchains. In contrast, MetaMask employs a straightforward, consistent interface for EVM-based blockchains, compatible with a range of browsers including Chrome, Firefox, Brave, Edge, and Opera.
What is the point of phantom wallet? ›
As a self-custodial software wallet, Phantom provides a safe and intuitive way to manage your assets, trade NFTs, and connect to your favorite dapps across Ethereum, Polygon, and Solana.
Who owns the phantom wallet? ›
Phantom, a crypto wallet heavily used in the Solana ecosystem, has seen its active user base more than triple over the past year, its CEO and co-founder Brandon Millman exclusively shared with TechCrunch.
What network is the phantom wallet on? ›
Phantom is a digital wallet reimagined for DeFi, making it safe and easy to store, send, receive, collect, and swap tokens on the Solana blockchain.
Does Phantom support EVM? ›
EVM (Ethereum Virtual Machine): EVM is a computational engine that enables the execution of smart contracts on the Ethereum blockchain. Its support in the Phantom wallet means users can now interact with Ethereum-compatible decentralized applications seamlessly.
What wallet supports Ethereum? ›
The 6 Top Ethereum Wallets Of 2023
| Wallet Name | Seed Phrase Length | Interface |
|---|
| MetaMask | 12 words | iOS Android Chrome Firefox extension |
| Argent | 12 words (Argent X Web extension); none on mobile | iOS Android Chrome Firefox extension (Argent X) |
| Gnosis Safe | N/A | iOS Android Web app Mac PC Linux app |
| Ledger | 24 words | iOS Android Mac PC Linux app |
2 more rowsFeb 20, 2024
Step 1: Launch the Phantom wallet extension or open the Phantom app on your mobile device and click/tap on the “Deposit" button. Step 2: Search for ETH, MATIC or SOL and select the token to view the deposit address and/or the corresponding QR code. Step 3: Click on the "Copy" button to copy the deposit address.
