Phantom vs Backpack: two Solana wallets with very different extras

Phantom and Backpack both started on Solana and both now cover several chains. Backpack was founded in 2022 by Armani Ferrante's team, former FTX and Alameda staff, and sits alongside the Backpack exchange. Phantom, from Phantom Technologies, is the larger wallet, with 22 million users reported by Forbes in February 2026. Both wallets are self-custodial. Facts were checked on 25 October 2026.

At a glance

Backpack details are from Backpack's own site and blog, Trezor's Backpack guide and Solana Compass (July 2026). Backpack's chain lists vary between its pages, so check the app.

Fees

Phantom charges 0.85% on most in-wallet swaps, and cross-chain swaps add the bridge provider's fee on a separate line (Phantom help centre, 2026). On a $1,000 swap, Phantom's fee is $8.50.

Backpack says its wallet "charges zero fees" on swaps and bridges and that "the price you see is the price you get" (Backpack blog, 10 March 2026). You still pay network fees and whatever the DEX route or bridge charges. That is Backpack's own claim; compare the amount you will receive in each app for the same trade before you decide. See Phantom fees and the swap cost calculator.

For staking, Phantom's PSOL takes 4% of rewards plus a 0.1% exit fee; native staking in Phantom has no Phantom fee, only the validator's commission. Backpack advertises 0% validator commission for bpSOL, but Solana Compass lists a 2.5% stake-pool rewards fee and a 0.1% withdrawal fee for it (October 2026).

Chains

Backpack covers more networks, especially EVM layer-2s and newer chains. Two stand out in 2026: Backpack still lists Sui and Monad, both of which Phantom removed (Monad on 26 August 2026, Sui on 24 September 2026). If you had funds on those chains in Phantom, a wallet that supports them can show them again with the same recovery phrase; see what to do after Phantom dropped Sui and Monad.

Phantom has two networks Backpack does not list: Bitcoin and Circle's Arc. If you hold BTC, Phantom does it in one app (Ordinals are no longer supported); see Phantom for Bitcoin. Both added Robinhood Chain in July 2026: Backpack on 12 July, Phantom on 23 July.

Safety

Both wallets show transaction warnings and scam detection. Phantom's previews are powered by Blowfish (acquired November 2024) and a public blocklist; it was audited by Least Authority in 2024 and pays up to $100,000 for critical bugs through Cantina.

We found no exploit of either wallet's software that drained users. Phantom's history is longer and better documented: the 2022 "Demonic" browser issue (patched), the 2022 Slope drain (not Phantom's fault) and a 2025 lawsuit Phantom calls meritless. See Phantom's security history.

One difference is the company around the wallet. Backpack runs an exchange: it bought FTX EU in January 2025, operates under a Dubai VARA licence, and launched its own BP token on Solana, with a token generation event on 23 March 2026. Token launches bring fake "claim" sites, so treat any airdrop link with suspicion. Phantom has no token and has said it has no plans for one; any "Phantom token" claim is a scam (see Phantom token and airdrop).

Features

• Hardware: Backpack says it supports Ledger, Trezor and Keystone; Trezor's guide covers Solana and Ethereum, with the Model One limited to Ethereum. Phantom supports Ledger only; see Phantom and Ledger.
• Exchange link: Backpack connects to the Backpack exchange for trading. Phantom has no exchange; its perps run on Hyperliquid and are not available in the US or UK.
• Sign-in: Phantom offers Google or Apple login wallets. Backpack uses recovery phrases and lets you organise several phrases and wallets in one app.
• Custom RPC: Backpack lets users set custom RPC endpoints. Phantom does not offer custom networks.
• NFTs: Backpack grew up around the Mad Lads collection and xNFTs. Phantom supports Solana and EVM collectibles with spam hiding (Bitcoin Ordinals are no longer supported); see Phantom NFTs.

Using both

Both use standard Solana recovery phrases, so importing the same phrase usually shows the same Solana address. Your Bitcoin balance from Phantom will not show in Backpack. If both extensions are installed, choose the wallet from the dapp's list so the right one answers.

If you are moving to Backpack mainly to reach Sui or Monad funds that Phantom no longer shows, you do not need to move anything else. Import the phrase into the official Backpack app, check that the chain appears, and move the assets you need. Keep Phantom for the rest if you like it. Never use a "migration" website or a helper who contacts you first: Phantom says it never offers to migrate assets for you.

Before importing a recovery phrase into any second wallet, remember that every app holding it is one more place it could leak. For larger balances, a hardware wallet that both apps support is the safer way to use two wallets.

Choose Phantom if… / Choose Backpack if…

Choose Phantom if

• You want Solana and Bitcoin in one app.
• You prefer Google or Apple sign-in.
• You want PSOL, prediction markets or Phantom Cash where available.
• You want the most widely used Solana wallet, which almost every Solana dapp supports.

Choose Backpack if

• You need Sui, Monad, Arbitrum, Optimism or Aptos alongside Solana.
• You want to avoid a wallet swap fee.
• You use a Trezor.
• You trade on the Backpack exchange.

Frequently asked questions