How to set up a Phantom Wallet in under 5 minutes

How to buy Solana projects before they get listed on popular exchanges.

Phantom wallet is a non-custodial wallet used mainly on the Solana blockchain. With Phantom Wallet, you can send/receive coins and tokens, swap tokens without the need of using a dex, and collect NFT’s.

Most importantly it gives you access to dexes like Bonfida, Raydium, and Aldrin to get early access to tokens that are not on popular exchanges.

The wallet is web-based for now, to use it is as simple as adding a browser extension.

Follow along to create yours.

Step 1- Go to the official Phantom website. — phantom.app

To add the browser extension click on ‘Add to Chrome’

It doesn’t matter if you are not using Chrome, it also supports Vivaldi, Edge, Brave, Mozilla, and much more.

After clicking, you should get redirected to the Chrome web store. Click on add to Chrome on the right upside.

Step 2 — Create a New Wallet

Click on ‘Create New Wallet’

IMPORTANT! * Save your Secret Recovery Phrase *

That is the only way you can recover or change your account password. Nobody can recover the wallet without the Secret Recovery Phrase, not even the Phantom team.

Do not share it, write it on several papers, and have them save in different places. You can also utilize a password manager like RememBear or Avira to write it as a secret note.

Step 3 — Set up your password

Do not use your dog’s or crush’s name, try an abstract password like 14@mj7sp$l3.

Click Save, and you are done!

You will see a phantom icon on the right upside of your browser.

Click on it and your Phantom wallet will open.

Go to your favorite exchange like Coinbase, Binance, or FTX, buy some Solana and transfer it to your phantom wallet. To see your Phantom address, click on “receive” on your wallet.

Trade and buy tokens that are not popular exchanges.

Go to a Solana dex like Orca, Raydium, or Aldrin and click on the upper right side ‘connect’. It will ask for permission, click on confirm and that’s it.

Now you can buy any token available just like you do on your favorite exchange.

Important: Sometimes after buying the token it will stay on the exchange, just click on ‘settle’ and it will be moved to your wallet.

My goal is to create $10,000 in passive income with DeFi starting from $800.

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