Phantom Wallet: The Ultimate Beginner's Guide

[00:02] a Phantom wallet, which is a must-have if you want to get into early meme coin opportunities. But before that, I'm the Crypto Gorilla. I am not a financial advisor. I just show you how all these tools work. If you appreciate that, hit

[00:15] right into it. Step one, we need to install either the app on our mobile install either the app on our mobile device or the browser plug-in on our PC or laptop. On the Phantom website, we would click download. Here we can find

[00:28] the browser version, which is a plug-in or extension that just drops down like so. And if you're on mobile, you can go to your app store both on iOS and will be on desktop. However, it functions the same desktop and mobile.

[00:44] We'll switch over to mobile in just a second. However, we are now at step two, you already created an account on mobile and you just want to import it onto desktop, you would click I already have

[00:56] a wallet and then follow the steps. However, assuming you're brand new, you would click on create a new wallet. And then you have a couple of creation methods. The first one is going to be with an email or Apple ID. If you do

[01:08] this, please make sure you have two-factor authentication installed or enabled on your accounts, because if they get access to your email, they could steal your money. And there are no refunds, okay? Phantom doesn't refund

[01:20] you, your centralized exchange, your bank, nobody's refunding your money. personally prefer using a seed phrase, which is a 12-to-24 word sentence, which is uh in my opinion more secure. So, the

[01:33] first thing it's going to ask me to do is create a password. Make your password secure. Don't do what I just did. And then they generate a seed phrase for us. Now, you need to keep this secret, okay? I'm showing it to you because I'm not

[01:46] actually going to use this. So, this is a scrap account. But if anyone were to access this with this code and I had money on it, they could steal all of my money, and there's nothing I can do to recover it. You are just at a loss. So,

[02:00] do not store this on your computer, in Google Drive, in your email, in Dropbox, somebody's going to have this phrase. You need to write it down in a book, put your house, okay? And make sure it doesn't get caught on fire, it doesn't

[02:16] have a flood, cuz if you lose this, you can never recover your account. You need to keep this. This is sacred, okay? You need to keep it safe. So, I would click I have my recovery phase. I would do continue. I would make a username, call

[02:29] it whatever you want, and voila, we have our account. So, here is what a wallet looks like. At the top, you have how much money you have. If we scroll down, it's going to give me a breakdown of my tokens. After that, we have

[02:42] collectibles, so these are NFTs. I could just scroll through them. However, your account probably looks something like this, because you haven't put any money inside of it just yet. So, to do so, we have two options. We can either buy

[02:55] crypto directly in the Phantom app, or we can send crypto from a centralized exchange, or somebody else sends us money into the app. So, in order to buy, if you want to buy Solana, you click on buy SOL with cash. You enter the amount

[03:10] you want to buy, minimum $5, and then you pick the payment method. Here I'm on iOS, so it says Apple Pay, or I can use a debit or credit card. However, if I don't want to buy SOL, I can scroll down and then select maybe I want Bitcoin,

[03:24] maybe I want Ethereum, and from here I would do cash buy, and here I can buy ETH instead of buying Solana. Now, the other method is receiving money from somewhere else. To do so, I would click on deposit crypto or on receive on the

[03:39] left side here. I would then need to pick the currency I want to receive. So, let's say I want to receive Solana or a token on Solana, let's say Pengu, which token on Solana, let's say Pengu, which is on Solana, I I copy the address of my

[03:52] Solana wallet. And then I can go into my centralized exchange, paste that wallet, and receive money or send it to somebody and say, "Yo, send me some Solana here." side of how that works. If I wanted to send somebody money, right next to

[04:06] send somebody money, right next to receive, I would click on send. It asks me what currency I would like to send. I click Solana or whatever you want to send. And then I have three options. Either I paste an address, either I scan

[04:19] a QR code by clicking the little box on the top right, or I use my recent history, which is blurred out. For this, I'm just going to paste from my clipboard, and I'm going to click on next. And then same principle as buying,

[04:32] you enter the amount of Solana that you want to send to somebody. You click on next. And then it's going to ask you to confirm. Now, I'm not going to go ahead with this, but if you want to send, you would just click on send. You would get

[04:45] a confirmed transaction. And then if we scroll back down and we click on the top right, the little clock symbol, it's going to show us our entire transaction history. So, that's how you buy, receive, and send money. I will next

[04:59] show you how you can swap tokens, which I assume is what most people are here to could do me a favor and hit the like button on this video, it really helps my channel reach a wider audience, and it's entirely free to do. So, in order to

[05:12] swap, in order to trade tokens directly in Phantom, on top here, you either click swap or at the bottom, you click on the two little arrows, and it's going to take you to the swap page. This is where you can trade your Solana for

[05:27] another token, or your USDC or your ETH, whatever. And this is how people are getting into meme coins early, right? When you I always get the comment, "Why Because it takes really long for a coin to be listed on Coinbase. However, every

[05:43] coin can be bought with your Phantom wallet. So, this is a really good skill to learn and it's really good to understand how to use these kind of tools because it allows you to get into opportunities before the mainstream,

[05:56] before retail. So, if I did want to do a transaction, it's really simple. Let's say for this case I want to go from Solana to I'm just going to pick a coin searched it. You got to be careful cuz there's a ton of scam tokens, but I know

[06:10] this is the official Pengu. And then let's say I want to buy 0.1 Solana worth. It's automatically going to give me a estimate of how much I'm getting. So, for $15.63, it's going to give me $15.51.

[06:26] So, here it tells us the conversion, so the pricing. We have the slippage, which is how much I'm willing to give up in order to get my transaction to go through. If I was buying a brand new coin that, you know, everybody's aping,

[06:39] the market cap is swinging like crazy, I would up the slippage. But in this case, you don't really need a high slippage. So, I can either leave it as is or on the top right I click the settings and then I can instead of doing auto, I can

[06:52] do, hey, a custom slippage. Only do like 0.2 or whatever. I click apply. Then for which this is a billion-dollar token, so a $15 buy is going to not impact the price at all. It shows me my

[07:05] fee. Right under there, you see it says the Phantom fee is 0.85%. industry standard. So, just keep that in mind. It might sound like it's not a lot, but if you're doing hundreds of thousands of dollars of swaps, this is

[07:20] going to add up. So, I'm cool with all of this, so I'm going to click swap now. It's going to automatically do the swap for me. You could see it was just to the home page, I don't see it right now cuz it's showing me my top three

[07:33] holdings. I click on tokens right here. I see how much Pudgy or Pengu I own in this wallet. So, if I I click on it, I get a view of the chart. I can look at the price action over the the last year, whenever. We get a bit more information.

[07:49] In the case where you do not see a token on the top right here, you would just click it and it shows you all the coins. So, I'm able to toggle things on and off so they no longer appear in my token page as well as on the home page. And

[08:04] then like I said, on the top right, if we click the clock, we can go see my transaction which was swapping $15 of SOL into Pangu and it kind of gives us a other option in this platform for trading is perps. You can see on the

[08:19] home page here it says perps. However, if I go back to swaps, right next to the word tokens, it says perps. I will not be showing people how this works because tutorial, 99.99% of you should not be playing with perps.

[08:34] It is extremely dangerous. This is how people lose their lives because they You should take a lot of time in crypto before even considering doing perps. However, if you do want to do it, this is where you do it. You know, do it at

[08:48] your own risk. So, next I wanted to show you guys how to connect to a website cuz this is something you're going to do extremely often if you are, you know, using different meme coin terminals or maybe you're trading NFTs. You're often

[09:00] going to have to connect to websites. So, here I am on Magic Eden. On top, I'm would do view all wallets because they do have their own wallet. I would find Phantom and it's going to ask me what

[09:14] currency I want to connect. I'm just going to use Solana. It's going to take me back into the Phantom app and then I'm just going to confirm that I do indeed want to connect. And it's now going to ask me to sign. Whenever you

[09:26] want to do something outside of the Phantom app, you are going to need to sign that transaction to confirm this is something you want to do. This doesn't mean it's safe. On Magic Eden, it's safe. On OpenSea or whatever website

[09:39] that's well-known, it is safe. However, if you're minting an NFT on a random website, you really need to be careful because people can steal your money if you sign something malicious. So, here I'm going to click sign. It's going to

[09:51] take me back into the app. It's going to ask me to confirm. I'm going to confirm cuz I know that this is safe. And voila, you can now see on top it shows my you can now see on top it shows my Solana balance and I am now connected to

[10:04] transacting if it's something I want to do. Personally, I find the mobile experience of connecting to websites horrible. It is much better on desktop,

[10:16] If your only option is to use a mobile device, especially if you're away from home, why not understand how it works. Now, like I said, you're often going to going to be sure if it's safe. So, I suggest having multiple accounts at what

[10:31] we call burner accounts, accounts with a very small amount of money in them. So, something malicious, you don't really mind cuz it's, you know, it's 10 bucks that you lose or whatever it is. So, to do so, on the top left, you would click

[10:44] on your account. So, we click on add account, create new account, and then a lot of accounts, so I'm not going to do this. However, uh this is a really have accounts that have like $25 on them. So, if I get rugged, like I don't

[11:00] care. It's 25 bucks. I understand for some people that's a lot of money, but Now, the final thing you're going to want to know is how to import these accounts somewhere else because you don't always need to import your seed

[11:12] phrase. You can import a private key, which is like a secret passcode you do not want to share with anybody, but a secret passcode for that individual secret passcode for that individual wallet for a specific chain rather than

[11:24] your entire Phantom account. So, to do so, I would click on settings on the top right. Then Then click on manage accounts. I would click the pencil next to the account name and right there above remove account, I would do show

[11:39] private key. And then I would send this to myself somewhere secure and I would import it on my browser, whatever it is. Again, if you share this with anyone or anyone gets access to it, they could steal your money. So make sure nobody

[11:52] ever ever sees it. And with that, that is the end of today's tutorial. I hope you enjoyed it and found it informative. If you have any questions, feel free to down below. There's a lot of bots down there, so literally ignore anybody

[12:06] shilling a comment. I will delete them as fast as I can. They're continuously annoying, but I will do my best to answer your question. Thank you for Give it a big thumbs up. Hit the subscribe button.

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