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Source-backed analysis14

Review basis

The AppDuo team prepared this review by analysing product features, official documentation and user feedback to help you understand its strengths, limitations and suitability for your needs.

14 reference sources

Information updated Nov 10, 2026

How we review
Phantom logo

Phantom Review

Self-custody multichain wallet now with perps and prediction markets, 0.85% swap fee

7.3/10

By · Updated

  • iOS
  • Android
  • Browser extension
  • Web
Free · Free
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Decide at a glance

Our verdict

Phantom suits people who want an easy self-custody wallet with token trading, perps and prediction markets in one app; it rates 4.8/5 on the App Store and 4.4/5 on Google Play. The trade-offs are a 0.85% fee on most swaps and the usual self-custody burden of protecting your own keys against scams.

Best for: Solana and multichain users who want one wallet for swaps, SOL staking and token discovery

Skip it if: Beginners not ready to guard a recovery phrase, since lost keys or scam approvals are rarely recoverable

Pros

  • Self-custody with Ledger hardware wallet support
  • One app combines multichain swaps, SOL staking, perps, prediction markets and the Phantom Cash card
  • Strong App Store rating: 4.8/5 from 64,272 ratings

Cons

  • 0.85% fee on most swaps, on top of network fees
  • Google Play sits at 4.4/5, below the App Store, with prominent reviews citing failed or slow swaps; Trustpilot shows 1.5/5 (102 reviews, none invited by the company)
All pros and cons · Who is it for?

Pros

  • Help center publicly warns about scams and lists official contact channels

Cons

  • The chat feature was used for address poisoning; one user lost about $264,000 in wBTC in February 2026
  • Perps and prediction markets are not open in every region; perps initially rolled out to EU users only

Best for

  • People who want perps or prediction markets while keeping a self-custody wallet

Skip it if

  • Frequent swappers who want to avoid a 0.85% fee on most swaps

Experience & key features

What Phantom is

Phantom is a self-custody crypto wallet from Phantom Technologies, Inc. According to Cointelegraph, it was founded in 2021 in San Francisco and began Solana-focused. Its homepage now calls it a home for trading crypto, prediction markets and perps, and claims 20 million-plus users (a company figure, not independently verified). It ships iOS and Android apps, a browser extension and a web trading terminal.

Key features

Per the Google Play description, the app supports swaps across Bitcoin, Ethereum, Solana, Polygon, Base and HyperEVM, SOL staking, themed token discovery, trader wallet tracking and per-token chat. Perps launched July 8, 2025 through Hyperliquid's API with up to 40x leverage, per The Block. Prediction markets were integrated from December 12, 2025, and Phantom Cash is a prepaid Visa debit card issued by Lead Bank and managed by Bridge Ventures. KYC applies to opt-in features.

Pricing and value

There is no subscription; revenue comes from transaction fees. The help center lists a 0.85% fee on most swaps, waived for deposits to the perps balance and for stablecoin swaps into Cash. SolanaFloor reported community debate over the fee, comparing Solflare (0.8%) and Fuse Wallet (0%). Occasional traders will barely notice; frequent swappers should add up the total cost.

More analysis

Risks and who it suits

Self-custody means you carry responsibility for the recovery phrase. Phantom warns it will never DM or ask you to send funds and has no Discord server. In February 2026 Cointelegraph reported a user losing about $264,000 in wBTC to address poisoning via the chat feature; it did not report a Phantom response. Phantom fits people already comfortable with on-chain wallets; newcomers may weigh centralized exchanges such as Coinbase or Kraken, which offer account recovery but not self-custody.

Screenshots

Phantom app promotional screenshot on the App Store (1)
Phantom app promotional screenshot on the App Store (1)
Phantom app promotional screenshot on the App Store (2)
Phantom app promotional screenshot on the App Store (2)
Phantom app promotional screenshot on the App Store (3)
Phantom app promotional screenshot on the App Store (3)

Plans & pricing

Prices last verified Nov 10, 2026

Phantom (free app, per-transaction fees)

Free

The app is free and has no subscription tier. Per Phantom's help center, a 0.85% Phantom fee applies to most swaps; deposits to the perps balance and swaps of USDC, USDT, USDG or PYUSD into the Cash account do not carry it. Network fees are separate and may be sponsored on gasless swaps. Cross-chain swaps may require at least $2.

Free plan limits
Creating a wallet and holding assets costs nothing. Some features, such as the Phantom Cash card, require identity verification (KYC), are limited to people 18 or older and are not available in every region.
Free trial
No free trial
Cancellation & refunds

There is no subscription, so there is no refund policy. Blockchain transactions are generally irreversible, and Phantom's help center says it will never DM, email or ask you to send funds.

Privacy

The privacy policy (last updated November 5, 2026) is issued by Phantom Technologies, Inc. and covers the website, mobile apps and browser extensions. It lists data you provide (username, avatar, email or phone), data collected automatically (device data, IP address, wallet addresses and public blockchain data, chat message content) and data from other sources such as Google sign-in. For opt-in features like Phantom Cash, third-party providers collect KYC data (name, date of birth, SSN, ID, biometrics); Phantom says it does not access biometrics. It states it will not sell or share personal information with third parties for their direct marketing, but gives no retention period. Phantom links wallet addresses to account identifiers; users can opt out in the app, which may limit support and fraud protection. The web trading terminal uses session replay with financial inputs masked. The App Store label lists only usage and diagnostics data, not linked to identity, while Google Play's Data safety section says the app may share location, app activity and 2 other data types with third parties.

Official pricing page

Phantom alternatives

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Binance

Large crypto exchange with a 0.1% base spot fee, under legal and security scrutiny

Free
Kraken logo6.9/10

Kraken

Long-running crypto exchange adding stocks and futures; 3.1/5 on Trustpilot

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All alternatives

Frequently asked questions

Does Phantom charge fees?

The app is free with no subscription. Per the help center, most swaps carry a 0.85% fee plus network fees; deposits to the perps balance and some stablecoin swaps into Cash do not carry the 0.85%.

Is Phantom self-custodial?

Yes. The Google Play listing describes it as self-custody, with users holding their own keys. That also means Phantom cannot recover your funds if a scammer obtains your recovery phrase.

Which blockchains does Phantom support?

Google Play lists swaps across Bitcoin, Ethereum, Solana, Polygon, Base and HyperEVM. Cointelegraph reports Sui was added in December 2024.

Does Phantom support perps trading?

Yes, since July 8, 2025 via Hyperliquid's API with up to 40x leverage, per The Block, initially for EU users. Current availability may vary by region.

Review evidence & sources14

Scores

Ease of use
8.0
Why this score

Email sign-up and one interface for swaps, discovery and staking. 4.8/5 on the App Store but 4.4/5 on Google Play, with some complaints about failed swaps; inferred from public ratings, not hands-on use. The interface is English-only.

Features
8.5
Why this score

Covers Bitcoin, Ethereum, Solana, Polygon, Base and HyperEVM, plus perps via Hyperliquid, prediction markets, the Cash card and SOL staking.

Value for money
7.0
Why this score

The app is free, but the 0.85% swap fee is above Solflare (0.8%) and Fuse Wallet (0%) per SolanaFloor; stablecoin swaps into Cash are exempt.

Performance
7.0
Why this score

Frequent releases (26.38.1 on November 7, 2026) and gasless swaps on some routes. Prominent Google Play reviews complain about failed or slow swaps; no independent performance data.

Support
6.5
Why this score

24/7 support per the Google Play listing and in-app contact via the help center; but there is no official Discord, Phantom only emails users who filed a ticket, and Trustpilot sits at 1.5/5 (small sample).

Privacy & security
6.5
Why this score

Self-custody and a light App Store label; but Google Play says location and app activity may be shared with third parties, the policy links wallet addresses to accounts (opt-out available), the terminal uses session replay and no retention period is given.

What users say

Sources

Specs & compatibility
Developer
Phantom Technologies, Inc.
Headquarters
United States
Launched
2021
Category
Finance

Capabilities

  • Mobile app
  • Integrations

Platforms

  • iOS
  • Android
  • Browser extension
  • Web

Interface languages

  • English

Integrations

  • Ledger
  • Hyperliquid
  • Solana
  • Ethereum
  • Bitcoin
  • Polygon
  • Base

Support

  • Help center
  • Email

Change history

  1. Feature.Phantom's blog posted about bringing prediction markets to U.S. users.
  2. Update.Cointelegraph reported a user lost about $264,000 in wBTC in a suspected address-poisoning attack via Phantom Chat.
  3. Feature.Integrated Kalshi prediction markets into the app, payable with Solana tokens or the CASH stablecoin.
Full change history (8)
  1. Feature.Launched in-wallet perps trading through Hyperliquid's API with up to 40x leverage, rolling out first to EU users.
  2. Company.Raised $150 million Series C led by Sequoia Capital and Paradigm at a $3 billion valuation; the company cited 15 million monthly active users.
  3. Feature.Phantom added Sui, bringing support to four blockchains: Bitcoin, Ethereum, Solana and Sui.
  4. Launch.iOS app release date on the App Store per Apple's listing data.
  5. Company.Phantom raised a $109 million Series B at a $1.2 billion valuation.
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