Phantom wallet is a popular non-custodial service for Solana which provides finance for the DeFi exchanges. Well, it is an open-source, so it is a mixture of operational, practical, and competitive considerations. As of now, the Phantom Wallet is ranking its place at the top in the market with a raise of $109M by leaving behind its rival MetaMask. Also Phantom announced on Monday that the company's crypto wallet is now worth $1.2 billion and increasing. Out of 12,280 assets in crypto-currency, Solana (SOL) has managed to take its place in the top 10 largest crypto market capitalization. As of now, Solana has the sixth-largest TVL in DeFi and the second largest number in NFT sales.
Create your new Phantom Wallet today:
Phantom web browser extension supports Chrome, Brave, Firefox, and Microsoft Edge.You can simply download it from the Web Store.Then, add the Phantom Wallet extension to the web browser.Now, let us begin the Sign-up procedure for Phantom Wallet: Once you have installed the web browser extension, it will ask you to create a new wallet or recover using a secret recovery phrase.Since you are a new user so click on the 'create a new wallet' option and proceed further.In the next step, you will be getting 12 words called Secret Recovery Phrase.It will be your recovery key for this account.Remember to keep your Secret Recovery Phrase safe with you and never share your key with anyone.After saving the key somewhere safe, click on the 'OK, I saved it somewhere' option to confirm.The next step, is to create a password and choose a strong password that will help you encrypt your wallet in the web browser.After creating the password, confirm it and press 'save'.Then click 'Continue' and finish the setup.
Sign-in procedure for Phantom Wallet:
Open the Phantom Wallet extension, and click on the 'recover using a secret recovery phrase'.Enter your key and press 'Continue'.That's it, you have logged in to the Phantom Wallet.
Are Phantom Wallet users Decreasing day by day?Phantom was limited to the desktop application only and that was ideal for the users, but it was not flexible. You can't take the laptop with you everywhere you go. And now, they are developing the mobile version of the Phantom wallet. That is why the developers have introduced mobile applications for flexibility. But the problem is, desktop extension is way more secure because mobile apps do not support betting, devoting SOL to the network but it is expected that they are introducing these features in the mobile app.
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Conclusion:Well, the Phantom Wallet is a trustworthy platform as you have already seen the number of daily active users, the services they provide, and also it provides so many features in one app. So, If you are new to the crypto world then surely start your journey with this wallet for exclusive features and items.