Phantom Wallet & Solana Guide
How to store, send, and cash out SOL
What is Phantom Wallet?
Phantom Wallet is a crypto wallet used to store, send, receive, and manage digital assets, primarily on the Solana network.
Simply put: Phantom is like a digital wallet for crypto & NFTs.
Main Features
Store Assets
SOL, SPL Tokens, NFTs, ETH, MATIC
Send & Receive
Send crypto to other wallet addresses
Web3 Apps
DeFi, NFT marketplace, Games
Security
You hold your own private keys
How to Create a Phantom Wallet
Download Phantom
Browser: phantom.app
Mobile: Search "Phantom Wallet" in Play Store / App Store
Make sure the publisher is Phantom Technologies, Inc.
Create New Wallet
Click "Create New Wallet" → "Create a new wallet"
Save Secret Recovery Phrase
You will receive 12 or 24 secret words (seed phrase)
Write it on paper, never screenshot! Never share with anyone!
Create Password
This password is to unlock your wallet on your device
Done!
Your Phantom Wallet is ready to use
What is Solana?
Solana is a blockchain (crypto network) designed for fast, cheap, and scalable transactions.
Analogy:
Solana = highway
SOL token = gas
Crypto apps = vehicles
Blockchain Comparison
| Blockchain | Speed | Cost |
|---|---|---|
| Bitcoin | Slow | Expensive |
| Ethereum | Medium | Expensive |
| Solana | Very fast | Cheap |
How to Cash Out SOL
Send SOL to an Exchange
Examples: Coinbase, Kraken, Binance, Crypto.com
- Open the exchange app
- Go to Wallet / Assets
- Select SOL → Deposit
- Copy the Solana (SOL) address
- Open Phantom → Send SOL to that address
Make sure network = Solana (SOL)! Don't send to Ethereum / BSC!
Sell SOL for USD
- Go to Trade / Sell menu
- Select SOL/USD pair
- Enter SOL amount
- Choose Market (instant) or Limit (set price)
- Confirm sale
Withdraw USD to Bank
- Go to Withdraw menu
- Select USD
- Enter bank details and amount
- Confirm
Funds typically arrive in 1-5 business days
Quick Flow
Phantom → Exchange (Coinbase/Kraken/Binance) → Sell SOL → Withdraw to Bank
Important Security Tips
- Don't click suspicious links
- Never enter your seed phrase on any website
- Send a small test amount first
- Save your TXID (transaction hash)
- Check first & last 3-4 characters of wallet address
- Use reputable, regulated exchanges