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A Guide for Web3 Beginners - The Most Detailed Operation Guide for SOL Phantom Blockchain Wallet.md#

Blockchain - Wallet#

Taking Phantom Wallet as an Example#

1. Introduction to Phantom Wallet#

1. Applicable Scenarios
   • Mainly supports Solana (SOL) chain, while also compatible with Ethereum (ETH) and Polygon (MATIC) assets.
   • Used for storing tokens, NFTs, staking SOL, and connecting to Solana ecosystem DApps (such as Magic Eden, Raydium).
2. Core Advantages
   • Simple interface design, supports quick switching between multiple chains.
   • Built-in token swap, NFT display, and staking features.
   • Provides support for both browser plugins and mobile apps (iOS/Android).

2. Installation and Setup#

Step 1: Download Phantom

• Browser Plugin (recommended Chrome/Brave):
  1. Visit the official website phantom.app, click “Download” → select the corresponding browser to install.
  2. Note: Be sure to only download from the official website to avoid the risk of counterfeit extensions.
• Mobile:
  Search for “Phantom: Crypto Wallet” in the App Store or Google Play to download the app.

Step 2: Create a New Wallet

1. Launch Phantom, click “Create New Wallet”.
2. Set a custom wallet name and password (at least 8 characters, including letters and numbers).
3. Backup Mnemonic Phrase:
   • The system automatically generates 12 English words, write them down in order on paper (do not take screenshots or store them online).
   • Complete the word order verification to confirm the backup is correct.

Step 3 (Optional): Import Existing Wallet

• If you already have a Solana wallet, you can import it using the private key or mnemonic phrase:
  Click “Import Existing Wallet” → enter the mnemonic phrase or private key.

3. Basic Operation Guide#

1. Receive Assets

1. Click the “Receive” button on the wallet homepage.
2. Copy your Solana address (starting with SOL, like SOLabc...xyz) or Ethereum address (switch to ETH chain, starting with 0x).
3. Provide this address to the sender (e.g., for withdrawal from an exchange).

2. Send Assets

1. Click “Send” → enter the recipient's address and transfer amount.
2. Select Network:
   • Ensure the network is Solana when sending SOL.
   • Switch to Ethereum network when sending ETH.
3. Confirm the transaction fee (Solana fees are usually less than $0.01).
4. After verifying the address is correct, click “Confirm” to complete the transaction.

3. Add Tokens/NFTs

• Tokens:
  Click “Tokens” → “+” → search for the token name (e.g., USDC) → click “Add”.
• NFTs:
  NFTs will automatically display in the “Collectibles” tab, no manual addition is required.

4. Advanced Features#

1. Multi-Chain Switching

1. Click the network icon at the top (default is Solana).
2. Select Ethereum or Polygon to manage corresponding assets.
   • After switching networks, the address will change accordingly (e.g., ETH address starts with 0x).

2. Token Swap

1. Click “Swap” → select the token pair to swap (e.g., SOL to USDC).
2. Set the slippage tolerance (default is 1%, to prevent transaction failure).
3. Confirm the exchange rate and fees before completing the swap operation.

3. Stake SOL

1. Click “Earn” → “Start Earning”.
2. Choose a validator node (recommended low commission rate and reputable nodes).
3. Enter the staking amount → confirm the transaction, with earnings updated daily.

4. Connect to DApp (using Magic Eden as an example)

1. Visit magiceden.io, click “Connect Wallet”.
2. Select Phantom → click “Connect” in the pop-up to authorize the connection.
3. When purchasing NFTs, Phantom will automatically pop up a transaction confirmation window.

5. Security Settings#

1. Basic Protection

• Mnemonic Phrase/Private Key:
  • Save offline, never share with others (Phantom will never ask for it).
  • It is recommended to use a metal mnemonic board (like Billfodl) for fire and corrosion resistance.
• Wallet Password:
  Change the password regularly, avoid reusing it on other platforms.

2. Anti-Phishing Strategies

• Domain Verification:
  Ensure the DApp URL you are visiting is correct (e.g., magiceden.io not mag1ceden.com).
• Transaction Confirmation:
  Carefully check the address and amount in the pop-up before signing the transaction to prevent malicious contracts from stealing assets.

3. Enable Privacy Mode

• Turn on “Hide Personal Data” in Phantom settings to prevent sensitive information from being leaked through screenshots.

6. Frequently Asked Questions#

1. Why did the transaction fail?
   • If the Solana network is congested, try increasing the priority fee or retry later.
   • Insufficient balance to pay the transaction fee, ensure to reserve at least 0.02 SOL as a buffer.
2. How to recover the wallet?
   • Install Phantom on a new device → click “Import Existing Wallet” → enter the mnemonic phrase.
3. Does it support hardware wallets?
   • Supports Ledger connection, select “Connect Hardware Wallet” in settings for enhanced security.

Blockchain - Virtual Currency#

Categories#

USDT vs USDC#

1. Core Differences

2. Use Cases

• Transfers: Choose the corresponding chain when withdrawing from exchanges (e.g., ERC20 requires ETH for gas fees).
• Trading: Exchange for BTC/ETH and other assets on exchanges to avoid price volatility risks.
• Hedging: Convert to USDT/USDC for value preservation during market downturns.

⚠️ Note: Cross-chain transfers must confirm that the other party supports the same chain, otherwise it may lead to asset loss!

Beginner's Must-Read Advice#

1. Small Amount Testing: For first-time operations, test with $10 to familiarize yourself with the overall process.
   1. Download Phantom and create a wallet (test the backup process).
   2. Purchase $10 USDT on an exchange (choose Solana chain, be mindful of other product chains like ERC20, TRC20, BEP20, etc.), and withdraw to the wallet.
   3. Try using USDT to exchange for a small amount of Solana (or other cryptocurrencies) on the exchange to experience the operation.
2. Learn Gas Fees: Transaction fees can be higher during Solana network congestion; choose your timing wisely.
3. Beware of Scams: Do not trust “private message airdrops” or “official customer service private messages”.
4. Backup Double Insurance: Store the mnemonic phrase securely in two locations (e.g., at home and in a bank safe).

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