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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.
   • 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 functions.
   • Provides both 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” → choose the corresponding browser to install.
  2. Note: Be sure to download only 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 Recovery Phrase:
   • The system automatically generates 12 English words, write them down in order on a physical medium (no screenshots or online storage allowed).
   • 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 recovery phrase:
  Click “Import Existing Wallet” → enter the recovery 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, e.g., SOLabc...xyz) or Ethereum address (after switching 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 without manual addition.

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 for 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, earnings update 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

• Recovery Phrase/Private Key:
  • Store offline, never share with others (Phantom will never ask for it).
  • It is recommended to use a metal recovery phrase storage (e.g., Billfodl) for fire and corrosion resistance.
• Wallet Password:
  Regularly change your password and 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 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?
   • If the Solana network is congested, try increasing the priority fee or retry later.
   • Insufficient balance to pay the transaction fee; you need 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 recovery 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, or it may lead to asset loss!

Beginner's Essential 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 exchanging a small amount of Solana (or other cryptocurrencies) with USDT on the exchange to experience the operation.
2. Learn Gas Fees: Transaction fees can be high 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 with Double Insurance: Store recovery phrases securely in two places (e.g., at home and in a bank safe).

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