The high-speed and low-cost blockchain network ‘Solana’ is a competitor for Ethereum on NFTs and decentralized finance (DeFi).
Both Solflare and Phantom are non-custodial crypto wallets that operate over the Solana blockchain.
Both the wallets allow the users to store, swap, stack, and send crypto tokens on the Solana blockchain.
Solflare Vs Phantom Wallet
According to the project statistics, the browser-linked wallet Phantom is said to have one million weekly users.
On the other hand, Solfare is a newly launched crypto wallet developed by Solrise protocol.
It is said to aid staking worth 16 billion dollars in SOL.
The two wallet ventures are functioning to get their crypto-based applications in the pockets of the people.
The Solfare mobile app has been launched by Solrise Finance, which is a fund management protocol.
On the other hand, Phantom is a famous crypto wallet and is based on the browser.
It is now working to provide its Android and iPhone-based services to users.
Both the wallet developers have realized that for crypto mass adoption, the mobile version is really significant and necessary.
It is similar to the transformation of other financial services like cheques, cards, etc., into cashless mobile apps.
Although there are many other crypto exchanges that already allow their users to store, stake, and send SOL using their mobiles, the newly developed apps of Solfare and Phantom will be different from them because of their non-custodial nature.
This means that the users will have direct control of their tokens with Solflare and Phantom wallets.
Which One Is Better Solflare Or Phantom?
Let’s find out by having a look at the points given below:
Stacking And Swapping
When it comes to swapping and stacking, a Phantom wallet is said to be better as compared to the Solflare wallet.
Phantom claims to be the best wallet for swapping and stacking.
Chrome Extension Downloads
If you see the comparison between the downloads of the wallets Solflare and Phantom on Google Chrome, then there is a huge difference.
More than 200000 users have downloaded the Solflare wallet.
On the other hand, Phantom has been installed by more than two million people.
The mobile App for Phantom has not been developed yet.
It is still in the development process.
As a result, Phantom is usable only as a browser extension for now.
On the other hand, the Solflare crypto wallet can be used both as a browser extension and a mobile app.
It can be a suitable option for those who are looking for mobile functionality and hardware integration.
Solflare is an all-in-one crypto wallet solution for individuals.
Individuals who are new to the crypto world can easily use the Solflare wallet to swap, stake, store, or send tokens on the Solana blockchain.
Phantom, on the other hand, is a choice of professional users.
This wallet is generally used by experienced people who need a wallet for Solana.
It allows the users to receive, stake, send, store, and swap the currency.
There are currently 40 software and integrations that are integrating with Phantom in 2022.
These include Google Chrome, Brave Browser, Mozilla Firefox, Microsoft Edge, SolSea, MangoMap, Ethereum, CoreStarter, Ledger, Raydium, Serum DEX, Solanium, Solanart, Solible, Boca Chica, Saber, Mango Markets, Solstarter, Conflux, Jet Protocol, Marinade, Parrot, Socean, FTX Pay, Sonar, DigitalEyes, Cyclos, Port Finance, Tulip, Grape Protocol, Jupiter Aggregator, MeanFi, Rango Exchange, Pearproof, Solana, Dexlab, HydraSwap, Blade, Francium, and Hello Moon.
On the other hand, there are 31 software and integrations that are currently integrating with Solflare in 2022.
These include Google Chrome, CoreStarter, Ledger, Raydium, Solanium, Solanart, Solible, Saber, SolFarm, Orca DEX, Solstarter, Jet Protocol, Marinade, Parrot, Apricot, Sonar, DigitalEyes, Solanalysis, CropperFinance, Cyclos, Port Finance, Tulip, Grape Protocol, 1Sol, Jupiter Aggregator, MeanFi, Solana, Dexlab, Solana Beach, Francium, and Hello Moon.
Also Read: How To Connect Phantom Wallet To Magic Eden?
Solflare Vs Phantom: Comparison Table
|Audience||Individuals who prefer a user-friendly mobile wallet as well as a browser extension.||Professionals who are looking for a perfect Solana browser extension wallet for NFTs andDeFi.|
|Availability||Available both as a mobile app as well as a browser extension.||Available only as a browser extension.|
|Chrome Extension Downloads||More than 200000 downloads.||More than 2 million downloads.|
|Categories||Crypto Staking, Crypto wallets.||Crypto Staking, Crypto wallets, Decentralized Exchanges (DEX), Automated Market Makers (AMM).|
|Integrations||31 integrations including Ledger, Cropper, etc.||40 integrations including Ledger, Ethereum, etc.|
Also Read: How To Send Crypto From Phantom To MetaMask?
Phantom and Solflare are good alternatives for each other.
Both the wallets offer almost similar kinds of features to their users.
Both are non-custodial wallets for Solana and offer token swaps.
Besides, both the wallets provide ledger and Web3 support also.
Both the digital wallets support almost all the popular web browsers.
But a major difference between the two crypto wallets is that where Phantom is only web-based as of now, the Solflare wallet is available as a mobile app also.
Some other minor differences that the two wallets have are already been discussed above.