This crypto wallet is also used to interlink a trader to the blockchain with the help of the decentralized application. If you are also a Phantom wallet user and want to boost your experience, you are definitely going to enjoy this read.
In this write-up, we will walk through the complete guidance of staking Solana using the Phantom wallet. So, let’s jump into the detailed approach of Solana staking from soups to nuts.
Guidance to stake Solana (SOL) on the phantom wallet
This process will take three steps if you are a novice user:
- Create a new wallet
- Deposit SOL
- Solana (SOL) staking
Steps to create a new wallet on the Phantom platform
- First, download the Phantom Wallet extension or mobile app.
- Open it and hit the button “Create New Wallet”.
- Create a new resilient password and if you already have a wallet, you can import it using the seed phrase.
- Next, click “Continue” and secure your wallet’s seed phrase safely.
- Click “Continue” and follow the on-screen instructions to complete the wallet creation.
A guide to deposit SOL in Phantom wallet
In order to deposit SOL on Phantom, you will need a deposit address. After successfully creating a wallet, you can visit the “Deposit” section and from there, you can find the deposit address of the coin of your choice. After this, you can follow the below-given instructions.
- Go to the crypto exchange from where you want to deposit Solana.
- Select the “Withdraw” choice located in the “Wallet” section.
- Input the asked details and provide the address that you have copied from the Phantom wallet.
- Now, hit “Withdraw”.
You will view the status of your transaction on the crypto exchange or can check the token balance on Phantom Wallet to confirm that you have successfully accomplished the withdrawal.
Here’s how you can stake SOL on Phantom
After making sure that you have enough SOL in your Phantom wallet, you can hit the road of the SOL staking by following the path mentioned beneath.
- Make sure you are logged in and look for the Solana token balance.
- Hit the “Start earning SOL” button located below.
- Pick up a validator with that you want to stake to proceed further.
- Go through the details and hit the “Stake” button to finalize the staking process.
This is all you need to do to stake SOL on Phantom Wallet. You can tap on “Your Stake” to display the staking status.
Final Take!
Phantom Wallet allows its users to earn crypto coins via staking their dumped coins. If you are using a Phantom wallet but haven't started staking yet, this is the time to take a step towards earning exciting rewards. This read can aid you in the same way no matter if you are a novice trader and have not opted for the Phantom wallet yet, or an existing user and just want to commence different tokens staking.
