There are many wallets and exchanges to pick from.
Knowing which one is right for you can be hard.
Here is my review of the Phantom Wallet.
Pros:
- The fees are low. For solana trading this is great.
- Easy to use for multiple blockhains at the same time.
- You have full custody.
- Can buy crypto with stripe.
Cons:
- No way to send to bank.
- Can be Buggy at times.
- May get sent "rug pull" scam tokens.
- May get sent Spam NFTs
I am updating this with a PSA
All of these wallets can be hacked. It includes this one.
I will list a series of hacks I have seen firsthand that you will experience.
#1 Rug Pull Sh*t Token
The Attacker sends you a fake token of same quantity that looks similar to a token you have just purchased. They do such in the same quantity of your purchase. The moment you buy more they sell their entire share of the pool.
[Burn them in the Sol Incinerator]
#2 ACE Via Airdrop
Arbitrary code execution via NFT airdrop. In this scenario you are #$%^'ed. They run code on the device that accesses the wallet and smart contract.
[Burn them in the Sol Incinerator]
#3 Phising Via Airdrop
Spam but NFT spam you can burn and make a few pennies on.
[Burn them in the Sol Incinerator]
Don't touch any airdrops.
While the wallet has these issues, it is also not Phantom's fault.
There are multiple other ways to hack all of these wallets I won't list. Everyone gets hacked at some point. Even the banks do. Trust me, I'm a hacker.
