🏦How To Set Up Your Phantom Wallet
What is a Phantom Wallet?
Whether you’re new to cryptocurrency or you’re interested in the many Solana projects out there like Homebase, setting up your Phantom wallet can feel pretty daunting.
But, it's really a quick, simple process and we’re here to help make this as stress-free and straightforward as possible. Phantom is a non-custodial wallet, which means you’re the only person with access and sole control over your funds. A phantom wallet makes it possible for you to use any decentralized applications built on the Solana blockchain, including Homebase.
Installing Phantom and Creating Your Wallet
Desktop
Download the Phantom wallet extension here and select your preferred browser. Simply follow the steps outlined after clicking on the preferred browser.
After the install is complete, a new tab will appear with the option to create a new wallet; click “Create New Wallet.”
You’ll then need to write down your recovery phrase and store it away in a secret location. If you can’t access your wallet for any reason, this phrase will allow you to recover your wallet. If you lose your recovery key, no one can help you get your funds back.
Never, ever ever ever, give your recovery phrase to anyone. It’s recommended that you write the phrase down on a few different pieces of paper and store them in separate locations around your home.
Finally, just look for the Phantom icon in the browser toolbar, which, if you’re using Chrome, will be at the top right-hand side of your browser.
Sometimes it won’t pin to your browser, so you’ll need to press the puzzle icon, which will give you a list of all your extensions; you simply just click the pin icon next to Phantom, and it’ll then appear by default at the top right-hand corner of your browser.
Mobile (iOS/Android)
Visit https://phantom.app/download and select the app marketplace according to your device type (iOS/Android). You will be redirected to the Phantom application on your device app store, follow the steps to download and install the application on your device. After installing, open the app and you should see the Phantom onboarding screen to set up a new wallet. If you are a brand new user, select "Create a new wallet" and enable the device authentication (may vary according to the device type) to protect your wallet from unauthorized access. If you are an existing user, you can select "I already have a wallet" and enter your seed phrase to restore your wallets.
Store your "Secret Recovery Phrase" in a safe and secure location, it is the only way to recover your wallet. The phantom team does NOT have access to your seed phrase nor will we ask for the phrase, ever! If someone has access to your seed phrase, they will have complete control of your wallet forever!
Note: You can enable notifications to get instant updates about your wallet activity. These can also be customized in Settings - Notifications.
Locating Your Wallet ID
Your wallet ID, a.k.a. public key or pubkey for short, is named within the token purchase agreement to tie your representative ownership to the tokens held within your wallet. As such, if you need to find your wallet ID for whatever reason, you can find it at the top of your Phantom wallet as shown in the screenshot below.
If you're on desktop, simply hover your mouse over the Wallet Name (in this case, "Homebase") at the top and copy the "Solana" wallet that appears. If you're on Mobile, click the wallet name at the top and copy the "Solana" wallet.
If you're investing on Homebase via wire or debit, this is the end of the relevant part of the guide for you. Simply send this pubkey over to the Homebase team to help them complete your transaction.
Buying SOL
The most popular ways to buy Solana are using either Coinbase or Binance. So, let’s say you’ve set up your Coinbase account, head to the Solana market page, and click the Buy / Sell button at the top right.
A pop-up will then appear; you simply insert the amount of money you want to invest into Solana, click preview buy, and then confirm the purchase.
Congrats! You’ve just bought your first Solana.
Buying USDC on Coinbase
Once your payment method is set up, you can go to the "Buy/Sell" tab in your Coinbase account and select USDC from the list of available cryptocurrencies.
Enter the amount of USDC you want to purchase, or the amount of money you want to spend, and select your payment method.
Review the details of your purchase and click "Buy USDC" to complete the transaction.
You should now see your USDC balance in your Coinbase account.
Click “Send & Receive” in the upper right corner, and enter your Phantom wallet address # to send.
Read the full article on Coinbase here.
Transferring SOL to your Phantom Wallet
Now it’s time to transfer your Solana from Coinbase to your Phantom wallet; the process will be almost identical regardless of the exchange you’re using.
Click the Phantom icon on your browser, a pop-up will appear, click the receive button, a search bar will appear, type in Solana and click.
It’ll then lead you to a small page with a barcode and your Solana wallet address, hit copy.
If you’re using Coinbase, click the option to Send / Receive right next to the Buy / Sell button at the top right corner.
Enter how much Solana you’d like to send to your phantom wallet, then paste your Solana address into the address bar.
Once you’re happy with everything, hit send now, and then check your Phantom wallet to make sure it’s delivered. And voilà, you now have Solana in your Phantom wallet, ready to use on any Solana Dapp and investing in real estate assets on Homebase.
Note: Homebase does not store your private keys or secret passphrase for any reason. Your privacy and security are of the utmost importance to our team.
Shared content and posted charts are intended to be used for informational and educational purposes only. Homebase does not offer, and this information shall not be understood or construed as, financial advice or investment recommendations. The information provided is not a substitute for advice from an investment professional. Homebase does not accept liability for any financial loss or damages. For more information please see the terms of use.
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