Phantom Wallet ReviewBy: Josh MillerUpdated: Thu Mar 16 2023
Phantom Wallet at a glance
What is Phantom Wallet
Phantom is a multi-currency wallet that allows you to use it with different currencies. You can store all your assets in one place and easily manage them. Phantom is a blockchain based wallet that lets you store your digital assets in a secure system. This means that your assets will be safe from any hackers who might want to steal your digital currencies. The private keys are generated on the device, which gives you full control over the assets stored in the wallet. It is simple and easy to use by anyone. Even though Phantom is a mobile wallet, it can also be accessed on a computer via the Chrome extension or desktop app for Windows and Mac users.
Pros & Cons
Before we dive into the full review, lets get into the pros and cons of Phantom Wallet.
- Supports Ethereum and EVM chains.
- Web3 enabled, so you can use DeFi applications, staking tools, NFT marketplaces and more.
- Mobile applications for iOS, Android.
- Browser extension for Chrome, Firefox, Edge.
- Completely free to use/download.
- Does not support Bitcoin, the Cosmos ecosystem, the Polkadot ecosystem, Tron, Algorand.
- Does not have a standalone desktop application.
- Closed source.
Table of Contents
- What chains does Phantom Wallet support?
- Is Phantom Wallet Web3 enabled?
- Does Phantom Wallet support Mobile?
- Does Phantom Wallet support Desktop?
- Is Phantom Wallet free?
- Is Phantom Wallet open source?
- Does Phantom Wallet support in-wallet staking?
- Does Phantom Wallet support in-wallet swaps?
- Does Phantom Wallet require you to run a node?
What chains does Phantom Wallet support?
Phantom Wallet supports Ethereum and EVM chains. Because Phantom Wallet supports EVM chains, you get access to a wide range of different chains. Including, but not limited to, Avalanche, Arbitrum, Optimism, Fantom, Gnosis, and many more.
Phantom Wallet does not support Bitcoin, the Cosmos ecosystem, the Polkadot ecosystem, Tron, Algorand. This limits the number of coins/tokens that you'll have access to.
Is Phantom Wallet Web3 enabled?
Yes, Phantom Wallet is Web3 enabled. You can use it to access dApps, DeFi, NFT marketplaces, and more. This enables you to really access what blockchain has to offer, instead of simply storing your coins in your crypto wallet.
Does Phantom Wallet support mobile?
Yes, Phantom Wallet supports iOS, Android. Which is great if you own a mobile device with the relevant operating system.
Does Phantom Wallet support desktop?
No, Phantom Wallet is not a standalone desktop application. Therefore, it does not support Windows, MacOS, Linux. Although it isn't a standalone desktop application, there are other means of using Phantom Wallet.
Is Phantom Wallet free?
Yes, Phantom Wallet is completely free. You don't have to pay a cent to get access to it. Although this is awesome, you have to bare in mind that free doesn't always mean it's the best option for your needs.
Is Phantom Wallet open source?
No, Phantom Wallet is closed source. This means you cannot get access to the code, and it is reserved only for the eyes of the developers. While this is a negative, it also makes it harder for hackers to reverse engineer the code.
Does Phantom Wallet support in-wallet staking?
Yes, Phantom Wallet allows you to stake in-wallet. This means you can earn passive income from your cryptocurrencies from within your crypto wallet!
Does Phantom Wallet support in-wallet swaps?
Yes, Phantom Wallet supports in-wallet swaps. This means you can exchange your coins/tokens for other tokens without going to an exchange. Be mindful that crypto wallets often charge fees for this service.
Does Metamask require you to run a node?
No, Phantom Wallet does not require you to run a node. This is great because running a node is often expensive, and requires lots of bandwidth and harddrive space. Running a node means you must download the full blockchain!