5 Steps To Transfer ETH To Phantom Wallet | Financially Independent Pharmacist (2024)

Last updated on January 11th, 2022

Sending ETH to your Phantom Wallet allows you to perform liquidity mining on Raydium.

However, the Phantom Wallet only supports the SOL version of ETH, and not the ERC20 version which is commonly found on most platforms.

Here’s what you need to know about this process.

Contents

  • 1 Can I send ETH to Phantom Wallet?
  • 2 How to transfer ETH to Phantom Wallet
  • 3 Conclusion
  • 4 👉🏻 Referral Deals

Can I send ETH to Phantom Wallet?

It is possible to send ETH to your Phantom Wallet. However, you will need to transfer ETH via the SOL network, and not the ERC20 network as your Phantom Wallet only accepts SOL network deposits.

ERC20 is ETH’s native network. However, since Phantom Wallet is created for the SOL network, you can’t send ETH via the ERC20 network to your Phantom Wallet.

Otherwise, your ETH may be lost forever!

How to transfer ETH to Phantom Wallet

Here are 5 steps you’ll need to transfer ETH to your Phantom wallet:

  1. Buy ETH on a platform that enables ETH withdrawals via the SOL network
  2. Obtain the ETH withdrawal address on your Phantom Wallet
  3. Paste the withdrawal address on the platform of your choice
  4. Withdraw ETH via the SOL network to Phantom Wallet
  5. Receive ETH in your Phantom Wallet

Buy ETH on a platform that enables ETH withdrawals via the SOL network

Currently, only FTX allows you to withdraw ETH using the SOL network. This is advantageous as they offer one of the lowest trading fees (up to 0.07%) when you make a trade!

Furthermore, FTX does not charge fees for any withdrawals that you make via the SOL network.

Obtain the ETH withdrawal address on your Phantom Wallet

After buying ETH on the platform of your choice, you will need to obtain the deposit address of your Phantom Wallet.

You can go to ‘Deposit‘,

5 Steps To Transfer ETH To Phantom Wallet | Financially Independent Pharmacist (1)

and then search for ‘ETH‘.

5 Steps To Transfer ETH To Phantom Wallet | Financially Independent Pharmacist (2)

You will see the deposit address that you can use to transfer from the platform of your choice to Phantom Wallet.

5 Steps To Transfer ETH To Phantom Wallet | Financially Independent Pharmacist (3)

You will notice that you are depositing ‘Wrapped Ethereum‘ to the Phantom Wallet. This is because ETH is on the ERC20 network, and you are using the SOL network to withdraw ETH.

If you are finding it hard to remember all of these long deposit addresses, you may want to consider simplifying them using Unstoppable Domains.

This allows you to send crypto to a .crypto or .wallet address, which makes it much easier to transfer cryptocurrencies between platforms!

Paste the withdrawal address on the platform of your choice

Once you’ve obtained the address to send to, you’ll need to go to the platform of your choice to send your funds.

In this example, I will be using FTX.

On FTX, you’ll need to go to ‘Wallet‘, and then select the currency that you wish to withdraw.

5 Steps To Transfer ETH To Phantom Wallet | Financially Independent Pharmacist (4)

To withdraw ETH, you will need to find ‘ETH’, and then select ‘Withdraw‘.

FTX supports ETH withdrawals on both the ERC20 and SOL networks.

5 Steps To Transfer ETH To Phantom Wallet | Financially Independent Pharmacist (5)

Withdraw ETH via the SOL network to Phantom Wallet

For the deposit address, you will need to paste the address that you’ve obtained from your Phantom Wallet.

Afterwards, you’ll need to select Solana SPL as the network that you’ll use to withdraw.

5 Steps To Transfer ETH To Phantom Wallet | Financially Independent Pharmacist (6)

This is because the Phantom Wallet only supports SOL network deposits. If you transfer your ETH to Phantom Wallet via the ERC20 network, your ETH may be lost forever!

Receive ETH in your Phantom Wallet

After the transfer has been initiated, you will receive ETH in your Phantom Wallet.

Transfers on the SOL network are much faster than ERC20, and you should receive ETH rather quickly!

Conclusion

When you are transferring ETH to your Phantom Wallet, you will need to make sure that you are sending it via the SOL network. This is similar to transferring BTC, USDC or USDT to your Phantom Wallet.

As such, it would be good to check that the platform that you’re using to buy ETH supports SOL withdrawals, and not just ERC20 withdrawals!

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5 Steps To Transfer ETH To Phantom Wallet | Financially Independent Pharmacist (2024)

FAQs

How do I send tokens to my Phantom wallet? ›

Import Tokens
  1. Click on the Manage token list on the wallet homepage.
  2. Click on the + icon.
  3. Enter the token's mint address, token name, and token symbol.
  4. Click on Add.
  5. Click on Continue.
  6. You may copy the wallet address or ask the sender to scan the QR code.
Mar 21, 2024

How to send ETH from coinbase to phantom wallet? ›

How to deposit SOL, ETH, MATIC and Bitcoin in my Phantom wallet?
  1. First, you need to get your deposit address. Open up the Phantom wallet application and click “Receive" ...
  2. Send the tokens from the exchange. Go to the exchange you are using and select the “Withdraw” option for either SOL/ETH/Matic.
Jun 14, 2024

How do I send Ethereum to my wallet? ›

Copy the Ethereum address: Make sure you copy the address accurately. Access your other crypto wallet: Open the wallet that currently holds your Ethereum. Start the sending process: Select the option to send ETH and paste your Trust Wallet's Ethereum address as the recipient.

How do I transfer crypto to phantom? ›

Step 1: Launch the Phantom wallet extension or open the Phantom app on your mobile device and click/tap on the “Deposit" button. Step 2: Search for ETH, MATIC or SOL and select the token to view the deposit address and/or the corresponding QR code. Step 3: Click on the "Copy" button to copy the deposit address.

How to transfer ETH to sol? ›

How to swap ETH to SOL
  1. Choose the crypto exchange pair. Choose Ethereum in the “You send” section. ...
  2. Enter the recipient's address. Now you need to enter the recipient's Solana address. ...
  3. Send the deposit. In order to proceed the efficient and reliable swap, the deposit is required. ...
  4. Receive cryptocurrencies.

Why does my swap keep failing on Phantom wallet? ›

Your transaction will fail if the price changes more than the slippage, which could happen for volatile assets. Too high of a slippage value will result in an unfavorable trade. Phantom's default slippage is set to 0.3%.

Does Phantom support the ERC20 token? ›

Phantom's in-app swapper allows you to swap ETH directly with other ERC-20 tokens within the app.

Does Phantom wallet support Ethereum? ›

As mentioned above, we also support Ethereum and Polygon. And our previously-mentioned features—Cross-Chain Swapper, Shortcuts, etc. —can also be used on these chains as well.

How do I send USD to phantom wallet? ›

How To Send USDC To Solana Wallet: Summary
  1. Login on your Binance App.
  2. Install Phantom Wallet on your device.
  3. Create a new wallet and write down the recovery phrase(key)
  4. Copy SOL address in Phantom wallet(clipboard)
  5. Withdraw USDC from Binance by using Solana(SOL address!!) to Phantom Wallet.
May 26, 2024

What network is Phantom wallet? ›

Phantom Wallet was designed for use on the Solana blockchain; while it now also supports other chains such as Ethereum, Polygon, and Bitcoin, this guide will focus on Solana.

How to turn ETH into sol? ›

How to swap ETH to SOL
  1. Choose the crypto exchange pair. Choose Ethereum in the “You send” section. ...
  2. Enter the recipient's address. Now you need to enter the recipient's Solana address. ...
  3. Send the deposit. In order to proceed the efficient and reliable swap, the deposit is required. ...
  4. Receive cryptocurrencies.

Is phantom an erc20 wallet? ›

Understanding the Phantom Solana Address

As mentioned earlier, Phantom wallet is supported by the Solana blockchain network and is one of the popular crypto wallets to use there. In other words, tokens or NFTs that are using Phantom are backed by the SPL protocol which can be compared with the Ethereum ERC-20 tokens.

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