[Wallets](https://revain.org/wallets/) › Phantom

# Phantom: keys, security, fees and reviews

## In short

- **Key control**: Self-custodial: keys are stored locally on the user's device; Phantom cannot access or move funds.
- **Fees**: Wallet: Free to download on iOS, Android and as a browser extension.
- **Risks and caveats**: Anyone with the recovery phrase or a private key has full control of the wallet; Phantom Support never asks for it.
- **Checked**: 31 October 2026

## Key facts

- **Official site**: [phantom.com](https://phantom.com/)

Key facts checked on 31 October 2026 against official sources.

## What is Phantom

Phantom is a self-custodial crypto wallet for iOS, Android and the Chrome browser, made by Phantom Technologies, Inc. It started on Solana in 2021 and since May 2023 also supports Ethereum and other networks, with built-in swaps, staking, perpetual futures and prediction markets.

## Who holds the keys

| Parameter | Details |
|---|---|
| Key control | Self-custodial: keys are stored locally on the user's device; Phantom cannot access or move funds. |
| Seed phrase | 12-word BIP-39 Secret Recovery Phrase; 24-word phrases from other apps can be imported. |
| Recovery | Phantom keeps no copy of the recovery phrase; the user is responsible for storing it. |
| Account model | Wallets can also be created with a Google or Apple account; such wallets still have an exportable recovery phrase. |

## Features and supported networks

| Parameter | Details |
|---|---|
| Platforms | iOS and Android apps and a Chrome extension; other Chromium browsers work without guarantee; the Firefox extension no longer receives updates. |
| Supported networks | Solana, Ethereum, Bitcoin (Native SegWit/Taproot), Base, Polygon, BNB Chain, Robinhood Chain, Arc and HyperEVM. |
| Hardware wallet support | Ledger: Nano X, Stax and Flex over Bluetooth on mobile; Nano S, Nano S Plus, Stax and Flex by cable in the extension. |
| Swaps | Built-in token swaps, including cross-chain swaps through selectable providers. |
| Staking | Native and liquid staking of SOL. |
| Other products | Perpetual futures with up to 40x leverage, prediction markets and a prepaid Visa debit card issued by Lead Bank; availability varies by region. |

## Security and audits

- The wallet app's source code is not public; Phantom publishes SDKs and its phishing blocklist as open source on GitHub.
- Kudelski Security assessed Phantom in a report dated 7 May 2021, and Least Authority delivered a final wallet audit report on 7 June 2024; both reports are published in Phantom's audit-reports repository.
- Bug bounty run through Cantina, with rewards of up to $50,000 for vulnerabilities that could lead to loss of user funds.
- Transaction previews, scam detection, spam token burning and a domain blocklist are built in.

## Fees

| Parameter | Details |
|---|---|
| Wallet | Free to download on iOS, Android and as a browser extension. |
| Swaps | 0.85% Phantom fee on most swaps, plus network fees (as of 31 October 2026). |

## History

| Date | Event |
|---|---|
| January 2021 | Founding team of engineers, designers and former founders formed. |
| June 2021 | In-app token swapper launched. |
| July 2021 | Raised $9 million from a16z, Variant, Jump Capital and others. |
| 1 May 2023 | Multichain wallet released with Ethereum and Polygon support alongside Solana. |
| January 2025 | Raised $150 million co-led by Sequoia Capital and Paradigm. |

## Risks and caveats

- Anyone with the recovery phrase or a private key has full control of the wallet; Phantom Support never asks for it.
- Phantom keeps no copy of the recovery phrase, so losing it (or the linked Google or Apple account) can mean losing access.
- Blockchain transactions cannot be reversed or cancelled once confirmed.
- Perpetual futures and prediction markets carry high risk and are not available in every region.

## About the developer

- **Legal entity**: Phantom Technologies, Inc.
- **Founded**: January 2021
- **Leadership**: Brandon Millman (CEO), Francesco Agosti (CTO), Chris Kalani (CPO).
- **Investors**: a16z, Variant, Jump Capital, Sequoia Capital, Paradigm.

## Official links

- Website: [phantom.com](https://phantom.com/)
- Download: [phantom.com/download](https://phantom.com/download)
- Docs: [docs.phantom.com/introduction](https://docs.phantom.com/introduction)
- Security: [phantom.com/security](https://phantom.com/security)
- Source code: [github.com/phantom/audit-reports](https://github.com/phantom/audit-reports)
- Support: [help.phantom.com](https://help.phantom.com/)

## Questions and answers

**Is Phantom self-custodial?**

Yes. Keys are stored on the user's device and Phantom cannot access or move funds; it keeps no copy of the 12-word recovery phrase.

**Is Phantom open source?**

No. The wallet code is not public; Phantom open-sources SDKs and its phishing blocklist.

**Has Phantom been audited?**

Yes. Kudelski Security (May 2021) and Least Authority (final report June 2024) audited it, and a bug bounty pays up to $50,000.

**Which networks does Phantom support?**

Solana, Ethereum, Bitcoin, Base, Polygon, BNB Chain, Robinhood Chain, Arc and HyperEVM.

**Does Phantom charge fees?**

The app is free; most swaps carry a 0.85% Phantom fee plus network fees (as of 31 October 2026).

## Sources

- [Phantom — Home](https://phantom.com/)
- [Phantom — About](https://phantom.com/about)
- [Phantom — Security](https://phantom.com/security)
- [Phantom — Bug bounty](https://phantom.com/bug-bounty)
- [Phantom — Terms of Use](https://phantom.com/terms)
- [Phantom Help — How your funds are stored](https://help.phantom.com/articles/how-your-funds-are-stored-49409366802067)
- [Phantom Help — How your wallet is secured](https://help.phantom.com/articles/how-your-wallet-is-secured-49409417837843)
- [Phantom Help — Create a wallet with a recovery phrase](https://help.phantom.com/articles/create-a-new-phantom-wallet-with-a-recovery-phrase-45135465489555)
- [Phantom Help — Supported networks](https://help.phantom.com/articles/supported-networks-chains-in-phantom-41372840389651)
- [Phantom Help — Supported platforms and browsers](https://help.phantom.com/articles/supported-platforms-and-browsers-48456789393811)
- [Phantom Help — Supported hardware wallets](https://help.phantom.com/articles/supported-hardware-wallets-in-phantom-46593089236627)
- [Phantom Help — Swap tokens in Phantom](https://help.phantom.com/articles/swap-tokens-in-phantom-5985106844435)
- [Phantom — Introducing Phantom multichain](https://phantom.com/learn/blog/introducing-phantom-multichain)
- [Kudelski Security — Phantom Security Assessment (2021)](https://github.com/phantom/audit-reports/blob/main/Kudelski-Security-2021.pdf)
- [Least Authority — Phantom Wallet Security Audit Report (2024)](https://github.com/phantom/audit-reports/blob/main/Least_Authority-2024.pdf)

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Page updated: 2026-10-31

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Source: https://revain.org/wallets/phantom/