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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
   • Primarily supports Solana (SOL) chain, while also compatible with Ethereum (ETH) and Polygon (MATIC) assets.
   • Suitable for storing tokens, NFTs, staking SOL, and connecting to DApps in the Solana ecosystem (such as Magic Eden and Raydium).
2. Core Advantages
   • Simple interface design, supports seamless switching between multiple chains.
   • Built-in token exchange (Swap), NFT display, and staking functions.
   • Provides browser extension and mobile app support (iOS/Android).

2. Installation and Setup#

Step 1: Download Phantom

• Browser Extension (recommended Chrome/Brave):
  1. Visit the official website phantom.app, click “Download” → select the corresponding browser for installation.
  2. Important 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 and install it.

Step 2: Create a New Wallet

1. Launch the Phantom app and click “Create New Wallet”.
2. Set a custom wallet name and a strong password (at least 8 characters, including a combination of letters and numbers).
3. Backup Mnemonic Phrase:
   • The system automatically generates 12 English words, please write them down in order on a physical medium (do not screenshot or store online).
   • Complete the word order verification process to ensure successful backup.

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 complete mnemonic phrase or private key information.

3. Basic Operation Guide#

1. Receive Assets

1. Click the “Receive” button on the wallet homepage.
2. Copy your Solana Address (format starts with SOL, e.g., 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 set to Solana when sending SOL.
   • Switch to Ethereum network when sending ETH.
3. Confirm the fee details (Solana network fees are usually less than $0.01).
4. After verifying the address, click “Confirm” to complete the transaction.

3. Add Tokens/NFTs

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

4. Advanced Features#

1. Multi-Chain Switching

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

2. Token Exchange (Swap)

1. Click “Swap” → select the token pair to exchange (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 executing the swap.

3. Staking SOL

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

4. Connect to DApp (Taking 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:
  • Store offline, never share with others (Phantom will not ask for it).
  • It is recommended to use a metal mnemonic board (like Billfodl) to prevent fire and corrosion.
• Wallet Password:
  Regularly update your password and avoid reusing it across different platforms.

2. Anti-Phishing Strategies

• Domain Verification:
  Ensure the URL is correct when accessing DApps (e.g., magiceden.io instead of 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?
   • During Solana network congestion, try increasing the priority fee or retry later.
   • Insufficient balance to pay the fees; 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 complete 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 during market downturns to preserve asset value.

⚠️ Note: Cross-chain transfers require confirmation that the recipient supports the same chain, otherwise it may lead to asset loss!

Beginner's Must-Read Advice#

1. Small Amounts for Trial and Error: Test with $10 for the first operation to familiarize yourself with the overall process.
   1. Download Phantom and create a wallet (practice the backup process).
   2. Purchase $10 USDT on an exchange (choose the Solana chain; be cautious of other products regarding their chains, such as ERC20, TRC20, BEP20, etc.), and withdraw to the wallet.
   3. Try exchanging a small amount of Solana (or other cryptocurrencies) using USDT on the exchange to experience the trading process.
2. Learn About Gas Fees: Fees can be higher during Solana network congestion; it is advisable to choose the timing for operations.
3. Beware of Scams: Do not trust suspicious information such as “private message airdrops” or “official customer service private messages.”
4. Backup for Double Insurance: Store the mnemonic phrase securely in two places (e.g., at home and in a bank safe).

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