Phantom wallet review 2026: fees, safety and features

Status as of October 2026

• Name: Phantom (unchanged).
• Owner: Phantom, a privately held, venture-funded company. It raised $150M at a $3B valuation in January 2025, led by Sequoia Capital and Paradigm (The Block, 16 Jan 2025).
• Chains dropped: Monad support ended on 26 Aug 2026 and Sui support on 24 Sep 2026. Assets on those chains were not moved or lost: import your recovery phrase into a wallet that supports them.
• Supported in October 2026: Solana, Ethereum, Base, Polygon and Bitcoin, plus Hyperliquid perpetuals inside the app.
• Size: Phantom said it had 15 million monthly active users in January 2025 (The Block, 16 Jan 2025).

Verdict

For Solana users, Phantom is the wallet to beat. It is fast, it shows clear transaction previews, it handles tokens and NFTs well, and most Solana apps put it first in their connect menu. Multichain support covers the main EVM networks and Bitcoin, including Ordinals.

The downsides: Phantom keeps its code closed, takes 0.85% on most swaps, and has added and then removed chains (Sui, Monad) within about a year. That churn is a reason not to rely on it for less common networks.

At a glance

Fees

Fees as reported in June to October 2026. Perpetuals fees are shown in the app before you trade. See wallet fees compared.

Is Phantom safe?

Phantom's security record is good for a wallet of its size. We found no case of Phantom's own systems being breached or user keys being exposed through a Phantom bug. Keys are created and stored on your device, and transaction previews plus warnings about known malicious sites and tokens help catch drainers before you sign.

Being closed source means outsiders cannot fully audit the app. Phantom's audit reports help, but they are not the same as open code. Solana users are heavily targeted by drainers and fake airdrops: read wallet drainers and address poisoning.

Supported networks and the 2026 chain exits

Phantom spent 2024 and 2025 adding networks and 2026 trimming them. Monad's public mainnet launched in November 2025, and Phantom ended Monad support on 26 Aug 2026, so that integration lasted less than a year (announced in July 2026). Sui followed on 24 Sep 2026, announced on 24 Aug 2026 (CryptoTicker; Bankless, 24 Aug 2026). Phantom reported no security problem behind either decision.

Before the Monad cutoff, Phantom let users swap MON into wrapped MON on Solana and waived its own fee on that swap. Sui users were pointed to other Sui wallets. If you missed the deadline, nothing is lost. Your tokens remain on-chain under the same recovery phrase, and importing that phrase into a wallet that supports the network brings them back into view. Be careful with anyone offering to "migrate" assets for you: Phantom says it never contacts users first.

The practical lesson: Phantom is a safe bet for Solana, Ethereum, Base, Polygon and Bitcoin, but if you rely on a smaller network, use a wallet that commits to it.

Recovery

Phantom uses a standard recovery phrase, so you can restore your accounts in Phantom or another compatible wallet. Email or Google sign-in is a convenience layer, not a replacement for keeping the phrase safe offline.

Key features

• Solana first: fast token swaps, NFT and collectible views, and staking.
• Multichain: Ethereum, Base and Polygon, plus Bitcoin with Ordinals support.
• Perpetual futures powered by Hyperliquid, launched in July 2025 with up to 40x leverage, starting with EU users (The Block, 8 Jul 2025). Leverage is high risk and is not available everywhere.
• Phantom Cash: a Solana-based dollar account that can be spent wherever Visa is accepted, funded by bank or card, with withdrawals to a US bank account. Availability varies by region.
• Prediction markets: a Kalshi integration, announced in December 2025.
• Usernames, social sign-in and an MCP server for AI agents.

Setting up Phantom safely

1. Type phantom.com yourself or use a bookmark. Fake "Phantom" extensions and airdrop sites are common.
2. Install the extension from the link on the official site, and the mobile app from the official App Store or Google Play listing. Check the developer name.
3. Write down the recovery phrase offline even if you use email or Google sign-in. Phantom says it will never contact you first or ask for your phrase.
4. Hide or ignore unknown tokens and NFTs that appear in your wallet. Many are bait that leads to drainer sites.
5. Connect a Ledger for larger Solana or Ethereum balances.

Pros and cons

Pros

• Best-in-class Solana experience.
• Clean design and clear transaction previews.
• Bitcoin and Ordinals support.
• Good security record.
• Ledger support on desktop and mobile.

Cons

• Closed source.
• 0.85% swap fee.
• Dropped Monad and Sui in 2026, so chain support can change.
• No Trezor support.
• Growing list of trading features (perps, prediction markets) that add risk for beginners.

Who it suits, and who should look elsewhere

Good fit: anyone active on Solana, NFT collectors, and people who want Solana, Ethereum and Bitcoin in one easy app.

Keep in mind that some of Phantom's headline features depend on where you live. Phantom Cash withdrawals go to US bank accounts, and perps launched for EU users first, with geographic restrictions. Outside those regions, Phantom is mainly a wallet and swap app, which is still its strongest side.

Look elsewhere if: you need open-source software, you use chains beyond Phantom's five, you want Trezor or Keystone support (try Solflare), or you trade large amounts and want lower swap fees.

Alternatives

• Solflare: Solana-focused and hardware-friendly. See Phantom vs Solflare.
• MetaMask: wider EVM coverage, and now Solana too.
• Ledger: keep larger balances offline and sign with Phantom.

See also the best Solana wallets.

Frequently asked questions