Phantom Wallet: Multi-Chain Payment Wallet Benchmark

Multi-chain ecosystem’s Solana native Wallet

Phantom Wallet is known for its intuitive interface and high-speed operations, supporting mainstream chains such as Solana, Ethereum, Polygon, and Bitcoin, allowing users to manage crypto assets, NFT collections, and DeFi protocols in one place. Since completing a $150 million Series C funding round in early 2025, with a valuation reaching $3 billion, its market share in the Solana ecosystem has continued to rise, becoming the preferred tool for on-chain dApps and gamers, showcasing strong potential for cross-chain interoperability.

Phantom Cash: The fiat gateway for crypto payments

The Phantom Cash feature, launched in October 2025, allows users to recharge directly via bank cards or Apple Pay, instantly converting fiat currency into CASH stablecoins and supporting future virtual card online and offline consumption. This not only addresses the pain points of cryptocurrency entering the real world but also significantly lowers the entry barriers for beginners, enabling SOL or ETH holders to easily handle daily payments. Compared to traditional exchanges for withdrawing funds, Phantom Cash offers a smoother capital flow experience.

Cost Structure and Actual Cost Analysis

On-chain transactions mainly feature Solana’s ultra-low gas fees, usually less than $0.01, which are far better than Ethereum’s peak fees; however, fiat deposits through partners like MoonPay or Stripe incur about a 5% fee. DefiLlama data shows that daily fee income is approximately $50,000, reflecting a large base of active users. New users are advised to start with small amounts to familiarize themselves with the transfer costs and exchange efficiency across different chains.

Experience in Security Incidents and Protection Upgrades

Despite its good reputation, Phantom has recently been involved in a lawsuit regarding the theft of $500,000 worth of assets, primarily due to the unencrypted storage of private keys in the browser version. The official team quickly patched the issue and strengthened the security architecture. Users are advised to back up their 12/24-word mnemonic phrases offline to avoid cloud screenshots; regularly update their versions and not click on unknown dApp authorization links; enable fingerprint recognition, device locks, and 2FA multi-factor authentication. This incident serves as a reminder that the security of cryptocurrency wallets is an ongoing concern, and proactive protection by users is crucial.

Five Steps for Beginners to Quickly Get Started in Practical Use

Download the latest version from phantom.com or the App Store, create a Wallet and write down your mnemonic phrase; recharge SOL or ETH to test the transfer function; experience Phantom Cash for fiat deposits and stablecoin exchanges; explore the built-in dApp browser to connect to DeFi protocols; and finally set up biometric authentication and transaction confirmation. This process only takes 10 minutes, allowing users with no background to immediately get started with the multi-chain ecosystem and manage assets and NFTs securely.

Summary

Phantom Wallet has evolved from a Solana-specific tool into a multi-chain payment hub, with $150 million in financing and the enhancement of Phantom Cash solidifying its market position. Low gas fees and intuitive operations attract newcomers, but a 5% recharge cost and security incidents remind users to strictly manage their mnemonic phrases and authorization reviews. For those seeking a convenient Web3 experience, this is a wallet option worth trying, and pairing it with small-scale testing can maximize profits while minimizing risks.