Phantom as a Solana wallet
Phantom started as a Solana wallet in 2021 and Solana is still its core network: it is always on and cannot be turned off. You can hold SOL and Solana tokens and NFTs, swap, stake and connect to Solana apps. You need a small SOL balance for network fees and for the refundable rent deposit that new token accounts require.
Last verified: 25 October 2026. Phantom is the best-known Solana wallet. It now supports eight other networks too, but most of its features (staking, gasless transactions, Phantom Cash, prediction markets) are built around Solana.
What you can do with Solana in Phantom
- Hold, send and receive SOL and Solana tokens (SPL and Token-2022 tokens).
- View and manage Solana NFTs; hide spam, or burn unwanted NFTs to get their rent back. See Phantom NFTs.
- Swap tokens in the app for a 0.85% Phantom fee on most swaps (Phantom help centre, 2026). See how to swap in Phantom.
- Stake SOL natively with a validator, or use Phantom's liquid staking token PSOL. See Phantom staking.
- Connect to Solana apps (exchanges, marketplaces, lending) and sign transactions, with a preview of what each transaction will do.
Your Solana address
A Solana address is 32 to 44 characters of Base58 text (letters and numbers, without 0, O, I or l). It has no built-in typo check, so a mistyped address can still be a valid one that belongs to someone else. Copy addresses from the recipient, not from your transaction history, because scammers plant look-alike addresses there ("address poisoning"). Our Solana address checker compares two addresses character by character.
Solana network fees
Solana fees are very low but never zero:
| Cost | Amount | Who gets it |
|---|---|---|
| Base fee | 5,000 lamports (0.000005 SOL) per signature | The network |
| Priority fee | Optional; Phantom sets it automatically, or you can set 0.00001 to 1 SOL in swap settings (Phantom help centre, 2026) | The network's validators |
| Rent deposit | A refundable deposit when a new token account is opened (see below) | Locked in the account; refunded when the account is closed |
Phantom's help centre says Solana fees include a base fee and may include a priority fee, and Phantom sets the fee automatically. A transaction that fails after the network processed it still pays its fee. Work out what you need with our Solana fee and rent calculator.
Rent: why a new token costs a little SOL
Every Solana token you hold lives in its own token account, and the network requires a small SOL deposit to keep that account open. For years this was about 0.002 SOL (0.00203928 SOL) for a standard token account. Solana began cutting rent in five steps under the proposal SIMD-0437: step 1 went live on mainnet on 3 September 2026 and step 2 on 11 September 2026, cutting the rate to 5,080 lamports per byte, which brought a standard token account to about 0.00149 SOL (0.00148844 SOL) (Chainstack docs; Solana Compass, September 2026). Further steps were expected with a validator release around November 2026 but had no fixed activation dates. Phantom shows the exact amount before you confirm.
The deposit is not a fee: you get it back if you close the account, for example by burning or sending away a token and closing its empty account. Existing accounts keep the deposit they were opened with.
How much SOL to keep
If you swap or send all your SOL, you cannot pay fees for your next transaction. That is the most common cause of the "not enough SOL" problem; see Phantom says not enough SOL. Keeping a small reserve, enough for several fees and a few new token accounts, avoids it. Some reviews suggest about 0.02 SOL as a starting buffer (Analytics Insight, October 2026); use the calculator for your own case.
Gasless transactions
For some transactions Phantom can take the network fee from the token you are using instead of SOL. Phantom's help centre says gasless transactions include a flat fee, are available only for verified Solana tokens, and need a swap or send of at least $0.30. Gasless swaps do not work with a manual priority fee, a tip or an exact-output amount. If a transaction is not eligible, you need SOL for the fee (Phantom help centre, 2026).
Staking SOL
| Native staking | Liquid staking (PSOL) | |
|---|---|---|
| Minimum | 1 SOL | None |
| Phantom fees | None beyond network fees; the validator takes its commission | 4% of staking rewards plus a 0.1% exit fee |
| Unstaking | 2 to 3 days, then a manual withdrawal | Instant if the pool has reserves, otherwise 2 to 3 days |
Source: Phantom help centre, 2026. Estimate rewards with our SOL staking calculator.
Strengths and weak points
Strengths: polished app, transaction previews and warnings about known malicious sites, built-in swaps and staking, Ledger support, and broad support from Solana apps.
Weak points: the 0.85% swap fee is higher than using a swap aggregator directly; the wallet apps are not open source; and Solana's popularity for memecoins means many scam tokens and drainer sites target Phantom users. Read memecoin safety before trading new tokens.
Stay safe
Phantom never asks for your recovery phrase and has no phone support. Read every transaction preview, and be suspicious of any site that asks you to sign something right after you connect. If a "Phantom" app or extension looks odd, check it with our download checker.
Frequently asked questions
Is Phantom a Solana wallet?
Yes. Phantom started on Solana in 2021 and Solana remains its main network. It also supports Ethereum, Base, Polygon, Bitcoin, BNB Chain and a few other networks.
Why do I need SOL to receive a new token?
Each new token needs its own token account, which requires a refundable rent deposit in SOL. Usually the sender pays it, but some transactions, such as swaps into a new token, make you pay it.
How much is a Solana transaction fee in Phantom?
The base fee is 5,000 lamports (0.000005 SOL) per signature, plus an optional priority fee that Phantom sets automatically. Swaps also carry Phantom's 0.85% fee.
Can I turn off Solana in Phantom?
No. Solana is always on. You can turn other networks on or off in settings.
What is PSOL?
Phantom's liquid staking token. You stake SOL and receive PSOL, which grows in value with staking rewards. Phantom charges 4% of rewards and a 0.1% exit fee.