How to Buy Solana NFTs With Phantom Wallet

How to buy solana on phantom

DigitalEyes Market is another alternative, and it’s where you’ll find Solana Monkey Business, the NFT collection favored by comedian and TV host Steve Harvey. This platform also offers Degenerate Ape Academy, fractal artwork series Frakt, and many other collections. As mentioned, your usual Ethereum wallet won’t work for buying Solana NFTs. As you might’ve guessed, you need SOL to purchase Solana NFTs. Here’s a quick look at how to set up a Solana wallet, load it up with SOL, and where you can then buy leading Solana NFTs. If you click Continue after entering the amount, the MoonPay window will ask you to fill your email address whether you are a new user or an existing user to MoonPay.

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During this, Phantom presents a beautifully simple and intuitive graphical user interface (GUI) to mask the technicalities of signing transactions and storing funds. The Solana Phantom wallet is renowned for its multi-pronged approach to security, both to users’ assets and data. Accordingly, Phantom integrates several novel security protocols facilitating a non-custodial service. Also, users have the option to employ additional security with seamless compatibility with the Ledger hardware wallet (from Ledger SAS).

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Solana is the No. 3 blockchain for NFT sales volume, only behind Ethereum and Ronin. According to, there have been over 72,000 unique NFT buyers on Solana in the past 30 days. The largest Ethereum NFT marketplace OpenSea just added Solana NFTs to its platform. A password allows you to log-in to a device that already stores your wallet information. Users can either use the QR code generated or just copy the wallet address.

How to buy solana on phantom

To get started with Phantom, users must download the browser extension or mobile app from the official Phantom website. The Solana Phantom wallet is an all-in-one decentralized finance (DeFi) wallet witnessing continued adoption with the growth of Solana’s ecosystem. However, many people wonder, “what is the Phantom wallet doing that’s different?”. Phantom offers users the ability to store cryptocurrencies, non-fungible tokens (NFTs), and earn a passive income with idle assets. Phantom wallet employs advanced security protocols and encryption to secure the funds of users as well as private information.

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Users would just have to press the convert button on the right side of USD. The system would show the market price, and users would just have to confirm the conversion. Solanart, though, isn’t an open market like leading Ethereum marketplace OpenSea. Rather, it is a curated set of collections, and NFT projects must apply to be listed, so your buying options here will be limited.

How to buy solana on phantom

After clicking the Transfer with FTX option, the FTX US cryptocurrency exchange window will ask you to enter your email and password to log in. Using FTX exchange may seem like using other cryptocurrency exchanges but it’s not. The built-in feature of FTX in Phantom wallet reduces the steps involved in buying Solana (SOL). In order to transact with the Solana network you will need SOL to pay for transactions.

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But to buy Solana NFTs, you’ll need to setup a Phantom Wallet first. On the FTX website, the user just has to click the “Withdraw” button on the same row as SOL. A pop-up will appear for user to input the amount of SOL to withdraw, the address and the 2FA. You’ll need SOL to purchase NFTs at Solana-based marketplaces, and with Phantom, there are a few different ways to get the coins into your wallet. Hence, it’s preferable to do the one-time register in the FTX exchange before buying SOL directly inside Phantom wallet. To reduce the time and number of steps that the conventional method takes, Phantom has come up with a new solution.

There are also community forums for proposing and discussing new features. For Solana dapp developers, Phantom provides a library of developer documentation to facilitate integrating the wallet into applications. For instance, a user can select an NFT from their Phantom wallet collection and list it for sale on Magic Eden.

Trade and buy tokens that are not popular exchanges.

Users will need at least a little bit of SOL in their Phantom wallet to process transactions. First, users can deposit SOL from an alternative wallet by selecting their Phantom wallet address and pasting it into the respective wallet. It is crucial to ensure that the transaction operates over the Solana network; otherwise, funds could be lost. Also, if users choose to download the mobile app, they can import their seed phrase from the desktop wallet to manage funds from different devices.

  • The rewards are paid in SOL coins that are redeemed periodically by users.
  • According to the announcement, the upgraded wallet will enable users to view all their holdings and NFTs in one place.
  • MoonPay offers a fast and easy way to buy Solana with credit card.
  • Further, the wallet is compatible with both cryptocurrencies and non-fungible tokens (NFTs).

Once selected, select “Stake”, and the Phantom wallet will instantly begin staking your assets securely. In addition to supporting the network, users will receive transaction fees as rewards. Also, the Solana Phantom wallet allows users to stake with extra security precautions by using the hardware wallets from Ledger. Launched in 2021, the Phantom wallet is a multi-utility and multi-device crypto wallet for the Solana blockchain with over one million users. As such, Phantom offers users the typical features one expects with modern DeFi wallets (e.g., decentralization, cryptographic security, fast transaction confirmation).

NFTs on Solana

The bottom menu allows access to features, including the NFT wallet, token swaps, and an overview of recent transactions. Another popular feature of the Solana Phantom wallet is the in-app token swap ability. Furthermore, with network fees costing less than $0.01 per transaction, users can make hundreds of transactions under one USD.

How to buy solana on phantom

Anyone who gains access to those words can control your assets. During the wallet setup process, you should have written the phrase on a piece of paper. Phantom has integration with 1Password, a popular password manager which allows you to safely store your wallet credentials. That way, you won’t have to worry about losing access to your wallet.

The Phantom wallet aims to make its in-wallet “swapper” feature the go-to exchange for assets on Solana. It plans to achieve this through maintaining its minute costs, sub-second transaction finality, plus transparent decentralization. For users with idle SOL assets, the Solana Phantom wallet offers users the opportunity to earn a passive income with its staking facilities. Furthermore, by staking with Phantom, users can contribute to validators and, therefore, network security. Staking SOL with the Solana Phantom wallet is achievable in four simple steps.

This should take only a few minutes after setting up an account. Download the Phantom wallet extension here and select your preferred browser. Simply follow the steps outlined after clicking on the preferred browser. Whether you’re new to cryptocurrency or you’re interested in the many Solana projects out there like Parcl, setting up your Phantom wallet can be pretty daunting. Setting up a Phantom wallet and loading it with Solana cryptocurrency is the easiest way to get started in Solana NFTs.

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While DigitalEyes also adheres to an application process for “verified collections,” there is a much wider selection of NFTs on this marketplace compared to Solanart. DigitalEyes also hosts an “unverified” section, in which individual sellers can list just about any NFT at all, similar to OpenSea. Luckily, you have some good options when it comes to wallets—whether they’re browser extensions or dedicated apps—designed specifically for Solana. Solana’s native SOL cryptocurrency boomed in value throughout August and into early September, although it’s down currently on the back of this week’s network downtime. SOL’s rise has been attributed in part to the growth of NFT collecting on the platform. Phantom wallets are primarily designed for storing and managing SOL tokens, but can also be utilized for mining Solana through their integration with the blockchain.