Comparing Phantom Beta Polygon & Ethereum Wallet To MetaMask (2024)

What Phantom Beta Wallet For Ethereum & Polygon Can & Can’t Do

Manny

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9 min read

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Dec 25, 2022

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Full disclosure: I have been given access to the beta and have made a request to join a private discussion group to offer feedback. I wasn’t offered anything from Phantom nor from my employment at Polygon, so this article is just a collection of my thoughts and opinions.

A new announcement in 2022 is that Phantom Wallet is supporting Polygon and Ethereum, soon. This is great news because it brings alternatives and competition to the browser crypto wallet market. While I do love and continue to use MetaMask as a daily driver, it’s good to see what’s out there and what’s coming.

Comparing Phantom Beta Polygon & Ethereum Wallet To MetaMask (3)

Access To Beta

In this article I’ll be looking at the recent Beta for Phantom wallet, and doing a comparison with MetaMask to look at where they differ. Although this comparison is with Phantom wallets’s early Beta, a lot of the features are still a work in progress.

Comparing Phantom Beta Polygon & Ethereum Wallet To MetaMask (4)

Before going any further, I realize that Phantom wallet with Ethereum and Polygon support is beta so there is definitely going to be some things that aren’t fully baked. I will say that this article isn’t to throw stones at Phantom wallet or paint a negative picture. The goal is to hopefully document what’s missing in hopes that they make the app better.

One of the main takeaways from setting up both wallets is that Phantom seems to be more geared towards an experienced user while MetaMask focuses on onboarding users that have never used a crypto wallet before.

Comparing Phantom Beta Polygon & Ethereum Wallet To MetaMask (5)
Comparing Phantom Beta Polygon & Ethereum Wallet To MetaMask (6)

The user-flow for Phantom is definitely more streamlined but with just 4 steps, while MetaMask seem to introduce screens that don’t necessarily need to be present.

Comparing Phantom Beta Polygon & Ethereum Wallet To MetaMask (7)

One thing I do wish that Phantom wallet had was a quick copy to clipboard of the entire secret recovery phrase to paste into a password manager versus copying every word individually.

Both wallets could also offer an easy download as a CSV for the secret phrase as well.

Comparing Phantom Beta Polygon & Ethereum Wallet To MetaMask (8)

Currently there is no way to add your own RPC addresses to allow for different networks in Phantom wallet. It currently only shows Polygon Mainnet and Ethereum Mainnet.

While it doesn’t show it, it does support Testnets Goerli and Mumbai, but not Sepolia. A missed opportunity would have been to allow for Localhost connections for developers to better test their contracts.

Comparing Phantom Beta Polygon & Ethereum Wallet To MetaMask (9)
Comparing Phantom Beta Polygon & Ethereum Wallet To MetaMask (10)

I also couldn’t find any information on the RPCs that Phantom wallet uses, which could mean they use their own or another service provider. I don’t know if Phantom App plans to divulge this but given that it hasn’t been Open Sourced leaves a lot to guess. This is isn’t great because given the number of hacks lately could pose a problem for them later.

It should be noted that while the documentation does say it supports most JSON-RPC requests for wallet interactions (emphasis on the word wallet), it doesn’t allow for the more broader RPC requests for basic eth_call without the need for passing a second param.

// Doesn't work
await window.ethereum.request({
method: 'eth_call', params: [{
to: '0x375F01b156D9BdDDd41fd38c5CC74C514CB71f73',
data: '0xfe50cc72'
}]
});

// Works
await window.ethereum.request({
method: 'eth_call', params: [{
to: '0x375F01b156D9BdDDd41fd38c5CC74C514CB71f73',
data: '0xfe50cc72'
}, "latest"]
});

Comparing Phantom Beta Polygon & Ethereum Wallet To MetaMask (11)

While, eth_sendTransaction did work, it didn’t allow for seeing if the transaction went through on Mumbai Testnet or showing the reflected balance. It does however show it working on Polygon Mainnet.

Comparing Phantom Beta Polygon & Ethereum Wallet To MetaMask (12)
Comparing Phantom Beta Polygon & Ethereum Wallet To MetaMask (13)

It’s no surprise that transactions don’t have any management of setting the nonce number to see about setting up transactions in a specific order. Although this is offered in MetaMask, this isn’t really something that most users understand and sometimes causes more confusion than helps.

Phantom wallet does have threshold for gas limits, but done in a way that simplifies the UX for the user so that they aren’t fiddling around with minimums and maximums.

Comparing Phantom Beta Polygon & Ethereum Wallet To MetaMask (14)

This is something that will come with time and more adoption, but it would be great to see more adoption of the wallet for things like Etherscan, Rainbowkit (coming soon), Connectkit, and Remix.

Comparing Phantom Beta Polygon & Ethereum Wallet To MetaMask (15)
Comparing Phantom Beta Polygon & Ethereum Wallet To MetaMask (16)

One thing that I did notice is the load times and transitions for trying to interact with Phantom vs MetaMask is slightly better. It’s a small thing, but when you interact with your wallet constantly, especially when testing, you can notice it more when clicking on MetaMask several times to bring it up.

Comparing Phantom Beta Polygon & Ethereum Wallet To MetaMask (17)

The equivalent of MetaMask’s Connected Sites are called Trusted Apps, which takes some getting use to. Unfortunately, as someone who frequently disconnects sites, the number of steps to disconnect a site is an extra step compared to MetaMask. I also wish that both wallets would implement a disconnect from all sites.

MetaMask Steps

Two steps to get to your Connected Sites (3 dots > Connected Sites).

Comparing Phantom Beta Polygon & Ethereum Wallet To MetaMask (18)

Phantom Steps

Three steps are required to get your Trusted Apps (Menu > Settings > Trusted Apps).

Comparing Phantom Beta Polygon & Ethereum Wallet To MetaMask (19)
Comparing Phantom Beta Polygon & Ethereum Wallet To MetaMask (20)
Comparing Phantom Beta Polygon & Ethereum Wallet To MetaMask (21)

Custom ERC20 tokens and ERC721 NFTs aren’t supported yet, and hopefully it won’t cost a few to add them to your wallet.

Comparing Phantom Beta Polygon & Ethereum Wallet To MetaMask (22)

Connection Issues

Phantom also has issues sometimes connecting to sites, where you disconnect, try to reconnect, or perform transactions, it just shows a loading screen in multiple or inconsistent windows.

Comparing Phantom Beta Polygon & Ethereum Wallet To MetaMask (23)

Account switching while connected with another wallet doesn’t prompt the new wallet for a new connection. This is probably related to it not working potentially yet with the ethereum event for accountsChanged.

Comparing Phantom Beta Polygon & Ethereum Wallet To MetaMask (24)

RPC Debugging

As a developer that uses their wallet for deployments and other more complicated transactions it would be good to see RPC errors and their full logs to better debug.

Wallet RPC Requests

This would be to support the full wallet RPC requests that follow the same conventions as MetaMask wallet requests, including wallet_getPermissions.

MetaMask Overriding

Currently, you cannot have both Chrome extensions enabled at the same time as Phantom overrides the injected provider from MetaMask.

I already foresee this being an issue when users would like to use both their MetaMask and Phantom wallet as they transition from either or until features are supported. Both MetaMask and Phantom have a flag for isMetaMask and isPhantom but both come back true while using Phantom. There has to be a way for both of these wallets to coexist in the meantime.

These were a few things that I noticed were missing and probably need to be worked on some more.

Hardware Connection

This is more that I need to test it and I couldn’t really because I didn’t have a hardware wallet to test with. This is something that would be key

Expanded View

Don’t get me wrong, I like the UI and UX for Phantom, but sometimes seeing a larger and vertically longer view helps with seeing the full picture for a transaction.

Comparing Phantom Beta Polygon & Ethereum Wallet To MetaMask (25)

Add RPC

I realize that Phantom has its own RPC service, but I think it should still allow for other RPC providers to be added to support other networks, including Localhost.

Comparing Phantom Beta Polygon & Ethereum Wallet To MetaMask (26)

Localhost

Localhost support that works with Hardhat to support wallet interactions for local development.

Comparing Phantom Beta Polygon & Ethereum Wallet To MetaMask (27)

Phishing Detection

I can’t say that I have seen this working too much with MetaMask, but this could also be an opportunity for Phantom to shine to protect its users better.

Comparing Phantom Beta Polygon & Ethereum Wallet To MetaMask (28)

Download Logs

The ability to download or see logs in a better way would definitely help with development debugging.

Comparing Phantom Beta Polygon & Ethereum Wallet To MetaMask (29)

Native ENS Support

Native ENS names for wallets being shown would be great.

Comparing Phantom Beta Polygon & Ethereum Wallet To MetaMask (30)

Snaps

I realize that there is a bunch of functionality that Phantom needs to get through but it would be good as a follow up, once the wallet is at a stable version.

Comparing Phantom Beta Polygon & Ethereum Wallet To MetaMask (31)

Open Source Code

This is more of request to help users contribute to their docs and the code. I think this can go a long way to helping improve the wallet.

These are definitely feature requests or things that could help differentiate Phantom from Metamask.

Native Multi-signature Delegation

The ability to see Safe Wallets or Multsig Wallets within Phantom and allow for Delegate signature signing. Read about this further in my other blog post on Getting Started With SSX & DAO Logins.

Self-Sovereign ID

Following the book on Self-Sovereign Identity, there could be something offered where the wallet could be extended to allow listing issuers, storing claims, and creating cryptographic proofs.

Extensions Store

If Phantom is a for profit company, it would probably make sense to allow extension to be added where these extensions could take a percentage of fees in a sort of wallet store for Phantom.

The team is making big moves to support more chains and especially coming from a dedicated non-EVM supported network is a win for the wallet in my opinion. Not everything is going to be done right away, but hopefully the team looks at this article as what is possible for such a great wallet that has a decent UX experience.

I’m hoping to do an article on the various RPC requests that Phantom does support, that way we can see the full checklist and make sure we account for them for any frontend or blockchain requests.

If you got value from this, please give it some love by sharing it, and please also follow me on twitter (where I’m quite active) @codingwithmanny and instagram at @codingwithmanny.

Comparing Phantom Beta Polygon & Ethereum Wallet To MetaMask (32)
Comparing Phantom Beta Polygon & Ethereum Wallet To MetaMask (2024)

FAQs

Is Phantom wallet better than MetaMask? ›

Phantom, however, only works with Ledger, which is a very good and well-known hardware wallet, but it's the only one it supports. So, if we look at the support for hardware wallets, Metamask is the clear winner because it supports five different wallets, while Phantom only supports one.

Is Phantom wallet a good wallet? ›

Overall, Phantom Wallet is a secure, user-centric solution for engaging with the Solana blockchain. Its non-custodial nature, robust security features, and commitment to user education form a solid foundation for safe digital asset management.

Which wallet is better than MetaMask? ›

In terms of user interface and experience, Trust Wallet has an edge over MetaMask. Trust Wallet has a more user-friendly and straightforward design that caters to both beginners and experienced users. MetaMask has a more sophisticated and customizable design that may appeal to more advanced users.

Does Phantom wallet support the Polygon network? ›

Phantom is compatible with Ethereum and Polygon, so you can easily use any application on either blockchain without ever having to manually switch networks.

Is MetaMask better than Ethereum wallet? ›

By comparing MyEtherWallet vs MetaMask overall scores, we clearly see that MyEtherWallet has the higher overall score of 6.7. MetaMask, on the other hand, has scored 6.6 final points. One of the best hardware cryptocurrency wallets ever made. One of the best "in-between" interfaces, as far as Ethereum is concerned.

What browser is best for phantom wallet? ›

Phantom supports a number of popular browsers, including Chrome, Firefox, Edge, and Brave. Then, follow the steps in your browser's respective extension store to install Phantom Wallet. After installation, Phantom will open up in a new tab in your browser. Now, you'll want to click on the “Create New Wallet” button.

What is the slippage on the phantom wallet? ›

Solana: Currently, Phantom has a default slippage setting of 0.3%. This means that if the price of the swap differs by more than 0.3% from the presented price, the swap will fail to prevent you from losing value.

Is Phantom wallet legal in the USA? ›

You understand that Phantom and the Swapper are not registered or licensed by the CFTC, SEC, or any other financial regulatory authority (whether in the United States or elsewhere).

Can phantom wallet be hacked? ›

The attack on Phantom goes to show that even projects that are somewhat well established in the case of DeFi are not greatly safe from such attacks. While the services give cryptocurrency risk awareness and take precautions to protect their funds using strong passwords among other measures.

Why is MetaMask the best wallet? ›

Top Non-Custodial Wallet Used By 30 Million Customers

MetaMask is one of the leading crypto wallets for non-custodial storage. Users retain complete control over their private keys and can access a backup phrase. While this is a user-friendly wallet, it only connects you to the Ethereum network.

Is MetaMask still a good wallet? ›

Yes. MetaMask is one of the most trusted cryptocurrency wallets for the Ethereum blockchain.

Why is MetaMask better? ›

* It is secure and users have full control over their private keys. * It supports a wide range of Ethereum-based tokens and NFTs. * It is compatible with a wide range of dApps. MetaMask is a good option to choose as a non-custodial wallet because it gives users full control over their funds.

What wallet should I use for Polygon? ›

MetaMask is a widely used crypto wallet app and browser extension that enables users to interact with Web3 projects. In just a few simple steps, anyone can set up a MetaMask wallet and begin exploring the Polygon ecosystem.

Can I have a Polygon wallet on MetaMask? ›

Polygon is an EVM-compatible network, which means you can use your MetaMask wallet to access dapps on Polygon. You will have the same address. You just need to make sure you have Polygon added as a network in MetaMask, and switch between Ethereum and Polygon as appropriate.

What wallet is best for Polygon? ›

15 Best Polygon Wallets in 2024
  • OKX Wallet: Provides cutting-edge financial instruments.
  • MetaMask:Users can use DApps and exchange tokens.
  • Ledger Nano X:USB Type-C or Bluetooth may also connect it to any mobile device.
  • Trust Wallet:Compatible with all devices.
  • D'CENT Wallet:The maximum amount of protection.

Does MetaMask support phantom? ›

You can now use Fantom with MetaMask by switching to Fantom in the network dropdown list!

What is more secure than MetaMask? ›

By comparing Exodus vs MetaMask overall scores, we clearly see that Exodus has the higher overall score of 7.1. MetaMask, on the other hand, has scored 6.6 final points. One of the best hardware cryptocurrency wallets ever made.

What are the advantages of phantom wallet? ›

The Phantom Wallet is a secure non-custodial browser wallet, meaning that users hold their own private keys. Being a self-custodial wallet, this gives users full control of their assets. Since Phantom is non-custodial, this also means that users have the sole responsibility to ensure the security of their wallets.

Is MetaMask the most secure wallet? ›

Yes. MetaMask is a trusted crypto wallet used by more than 30 million people worldwide, with security features like encryption, Blockaid, and seed phrases.

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