How to buy NFTs on Solana with a Phantom wallet

Understanding NFTs and Solana’s Ecosystem

Non-Fungible Tokens (NFTs) are unique digital assets verified using blockchain technology. On the Solana blockchain, NFTs benefit from fast transaction speeds and low fees, making it a popular choice for creators and collectors. Solana operates on a proof-of-stake and proof-of-history hybrid model, enabling thousands of transactions per second. The ecosystem supports NFTs through decentralized marketplaces like Magic Eden, Tensor, and Exchange.art. These platforms allow users to mint, buy, sell, and trade NFTs seamlessly. To participate, users need a Solana-compatible wallet, and Phantom is one of the most widely used due to its user-friendly interface and strong security.

Setting Up a Phantom Wallet

To begin purchasing NFTs on Solana, you must first set up a Phantom wallet. This digital wallet supports Solana (SOL) and SPL tokens, including NFTs. Start by visiting the official Phantom website—ensure you are on phantom.app to avoid phishing sites. Download the extension for your preferred browser (Chrome, Brave, or Firefox). After installation, click the Phantom icon in your browser toolbar and select 'Create a New Wallet.' You will be prompted to create a secure password. Next, write down your 12-word recovery phrase and store it in a secure, offline location. Never share this phrase. Confirm the recovery phrase by selecting the words in the correct order. Once verified, your wallet is ready. You’ll see your public wallet address, which starts with a capital letter and is used to receive SOL or NFTs.

Funding Your Phantom Wallet with SOL

Before buying NFTs, your Phantom wallet must hold SOL tokens, the native cryptocurrency of the Solana network. You can acquire SOL through centralized exchanges such as Coinbase, Binance, or Kraken. After purchasing SOL, withdraw it to your Phantom wallet. Click the 'Receive' button in Phantom to display your wallet address. Copy this address carefully. On your exchange, navigate to the withdrawal section, paste the address, and specify the amount of SOL to transfer. Ensure you select the Solana (SOL) network, not ERC-20 or any other chain. Confirm the transaction. Depending on network congestion, the transfer usually completes within minutes. Once SOL appears in your Phantom balance, you’re ready to proceed.

Connecting Phantom to an NFT Marketplace

To buy NFTs, connect your Phantom wallet to a Solana-based NFT marketplace. Popular options include Magic Eden and Tensor. Open your browser and navigate to the marketplace’s official site. Look for the 'Connect Wallet' button, typically located in the top-right corner. A pop-up will appear listing compatible wallets. Select Phantom from the list. A prompt will appear in your Phantom extension asking for permission to connect. Review the details and click 'Connect.' Once connected, your wallet address will be visible on the marketplace, and your SOL balance will be displayed. This connection allows the platform to request transaction approvals when you make a purchase.

Steps to Purchase an NFT on Magic Eden

• Navigate to the NFT collection or item you wish to buy
• Click on the specific NFT to view its details, including price, traits, and ownership history
• If the NFT is listed at a fixed price, click the 'Buy Now' button
• A confirmation window will appear in Phantom showing the transaction details: NFT name, seller address, price in SOL, and network fee
• Review all information carefully—once confirmed, transactions cannot be reversed
• Click 'Approve' in the Phantom pop-up to proceed
• Wait for the transaction to be confirmed on the Solana blockchain (typically within 10–20 seconds)
• Upon success, the NFT will appear in your Phantom wallet under the 'NFTs' tab

For auctions or bidding, select 'Place Bid', enter your bid amount in SOL, and confirm via Phantom. You may need to place a listing approval transaction first, which requires a small SOL fee.

Viewing and Managing NFTs in Phantom

After purchasing, your NFTs are stored directly in your Phantom wallet. Click the Phantom extension and go to the 'NFTs' tab to view all collected items. Each NFT displays its image, name, collection, and metadata. You can send NFTs to another wallet by clicking the three dots next to the NFT and selecting 'Send.' Enter the recipient’s Solana address and confirm the transaction in Phantom. To list an NFT for sale, connect Phantom to a marketplace, navigate to your profile, select the NFT, and choose 'List for Sale.' Set your price in SOL and approve the listing transaction. Phantom will prompt you for confirmation, including a small network fee. Once listed, your NFT becomes visible to potential buyers.

Security Best Practices When Buying NFTs

Protecting your assets is critical. Always verify URLs before connecting your wallet—scammers often create fake versions of Magic Eden or Tensor. Never share your 12-word recovery phrase or enter it on any website. Phantom will never ask for it after setup. Beware of phishing emails or pop-ups claiming your wallet is compromised. Enable two-factor authentication (2FA) on any exchange used to buy SOL. When approving transactions, double-check the NFT name and price in the Phantom pop-up. Malicious listings may appear legitimate but redirect funds. Consider using a dedicated browser profile for Phantom to reduce exposure to malware.

Frequently Asked Questions

Can I buy NFTs on Solana without paying gas fees?While Solana has extremely low transaction fees, you still need a small amount of SOL to cover network costs. Purchasing an NFT typically requires 0.001 to 0.005 SOL for the transaction, separate from the NFT’s price. Without SOL for fees, the transaction will fail.

What should I do if my NFT doesn’t appear in Phantom after purchase?First, ensure the transaction was successful by checking the marketplace or a blockchain explorer like Solscan.io. If confirmed, manually add the NFT collection to your Phantom view by clicking 'Add Collection' in the NFT tab and entering the collection address.

Is it safe to keep NFTs in Phantom long-term?Phantom is a hot wallet, meaning it’s connected to the internet. While convenient, it’s less secure than hardware wallets. For high-value NFTs, consider transferring them to a cold storage solution like Ledger when not actively trading.

Can I use Phantom on mobile to buy NFTs?Yes. Download the Phantom app from the App Store or Google Play. The mobile version supports wallet connections to NFT marketplaces via QR code scanning. The purchasing process is identical to the desktop version.