Last Updated: 15 February 2024
- Solana can be described as a speedy, secure, secure and censorship-resistant digital currency which uses a groundbreaking consensus protocol known as Proof of History (PoH) to provide high-throughput and lower transaction costs, in addition, Phantom is a well-known wallet for Solana as well as other cryptocurrencies.
- In order to include Solana in the Phantom wallet, you’ll require an actual wallet like Ledger or Trezor to safely store your private keys. You can also use using the Phantom browser extension that is compatible with Google Chrome, Firefox, and Brave as well as the Solana application that is installed on your wallet’s hardware.
Solana is a quick secure, safe, and censorship-resistant blockchain that utilizes a groundbreaking consensus protocol known as Proof of History (PoH) to ensure high throughput and minimal transaction fees. Phantom is a well-known wallet to use for Solana and other cryptocurrency that provides an easy-to-use interface as well as advanced options, like connecting to marketplaces, and finding NFT projects. This tutorial is to give complete instructions on how you can add Solana in the Phantom wallet, no matter if you’re a beginner or an skilled user.
Before you can add Solana in the Phantom wallet, you’ll be required to confirm that you meet these hardware and software prerequisites:
- A wallet made of hardware, like Ledger or Trezor for storing securely your personal keys
- It is the Phantom browser extension can be downloaded for Google Chrome, Firefox, and Brave
- The Solana app is installed on your wallet’s hardware
- An internet connection
Creating a New Wallet on Phantom
If you’re a new Solana user your first task is set up an account on Phantom. Here’s how:
- Visit the Phantom site and Download Phantom browser extension. Phantom browser extension to your web browser.
- Once you have it installed, click the Phantom icon on your browser’s toolbar to launch the wallet.
- Select “Create a new wallet” and follow the instructions to create your wallet.
- It is important to store your seed word and your the private keys in a secure location.
Connecting Ledger to Phantom
If you already own an Ledger device that has the Solana application and you want to join it with Your Phantom wallet to enable Solana. This is how you do it:
- Then connect the Ledger gadget to your PC and then launch the Solana application on your device.
- Start the Phantom extension within your browser and hit the “Connect a Hardware Wallet” button.
- Choose “Ledger” as your hardware wallet, and follow the instructions to connect to your Ledger device.
- After you have connected, you should have access to your Solana Balance in your Phantom wallet.
Utilizing Solflare using Ledger
Another method to link the Ledger Solana account with Your Phantom wallet is through Solflare. Here’s how:
- Connect to your Ledger device to the internet and launch the Solana application.
- Visit the Solflare website and click “Access Wallet.”
- Choose “Connect with Ledger” and follow the steps to connect to your Ledger device.
- Create a password to your account. Click on “Unlock Wallet.”
- You should be able access your Solana account through Solflare or Phantom.
Adding Custom Nodes to Phantom
If you’d like to add custom nodes like QuickNode RPC, to your Phantom wallet it is possible to do so using these instructions:
- Log into your Solflare wallet then click the logo for setting.
- Select “Network” and then “Add Custom Network.”
- Enter the name of the custom node as well as the RPC URL, then click “Save.”
- You should be able to login to the node that you have created within Your Phantom wallet.
- Get the Solana web3.js library and then install it into your project.
- Connect via the Solana network by using web3.js, the web3.js library.
- Create an account in a new way and make it a deposit using SOL.
- Create your transaction object by adding the parameters you want like the address of the recipient and the amount to be sent.
- You can sign the transaction with your private key and send your transaction to the system.
- You should wait for confirmation that your transaction was completed.
Solana Native Wallets
To access Solana’s blockchain, you must use a Solana blockchain you need to download an SOL native wallet, such as Phantom Wallet or Sollet. They provide a simple interface to send and receive SOL along with other tokens that are on the Solana network. In addition, Phantom offers trading of SOL futures contracts that have up 100x leverage, and zero fee for trading.
Phantom provides additional functions that go beyond accepting and sending tokens. Users can connect to a variety of markets and identify promising NFT projects using Phantom’s Phantom interface. In addition, Phantom offers staking on Solana which allows users to earn as much as 10% APY for your SOL holdings.
Staking on Solana
If you’re interested in earning the interest you earn on your SOL holdings, it is possible to place them on Solana. Solana network. Here’s how:
- Start your Phantom wallet, then navigate through”Stake. “Stake” tab.
- Choose how much SOL you wish to stake and click “Stake.”
- Confirm the transaction, and wait until it is processed.
- Your staked SOL will be now making money through Solana. Solana network.
What exactly is Solana? and what is the reason I should include it in my Phantom wallet?
Solana is a quick and secure, as well as resistant to censorship, blockchain that utilizes the revolutionary consensus protocol Proof of History (PoH) to ensure high efficiency and minimal transaction fees. The addition of Solana in your Phantom wallet lets you securely store and conveniently transfer and receive SOL and other tokens through Solana. Solana network.
Do I have to use a software alternative to a physical wallet? Can I add Solana into My Phantom wallet?
Yes, you are able to use an online wallet such as Metamask to include Solana into the Phantom wallet. It is however recommended to use a physical wallet such as Ledger or Trezor is suggested for increased security.
What exactly is Solflare and how can it help me to add Solana in the Phantom wallet?
Solflare is a digital wallet which allows you to safely keep track of as well as manage SOL as well as other coins that are on the Solana network. Solflare allows you to join the Ledger devices to your Phantom wallet, which allows you to safely organize and store all of your Solana holdings.
How can join the Phantom wallet to the marketplaces and also discover NFT projects?
Phantom provides a user-friendly interface that allows you to connect to various marketplaces and finding interesting NFT projects. Simply click”Marketplaces,” or click on the “Marketplaces” or “Discover” tabs of the Phantom wallet to discover these options.
What are the stakes in Solana and how can you earn interest from my SOL holdings?
Staking on Solana can allow you to gain interest from the SOL holdings by adding them to Solana. Solana consortium protocol. It is possible to stake SOL within the Phantom wallet by going to”Stake” under the “Stake” tab and following the instructions to stake your SOL holdings. You could earn up to 10% APY on staked SOL holdings.