What Is a Solana Wallet? How to Use a Solana Wallet

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Solana is a third-generation blockchain platform that leverages a unique Proof-of-History (PoH) consensus mechanism designed to deliver high-speed transactions and low gas fees. As a strong competitor to Ethereum, Solana has rapidly gained traction in the decentralized application (DApp) and DeFi ecosystems. With projects like Raydium, Orca, and Sunny flourishing on its network, understanding how to interact with the Solana blockchain begins with one essential tool: a Solana wallet.

This guide will walk you through everything you need to know about Solana wallets, including how to create one, how to use it across devices, and best practices for managing your digital assets securely.

What Is a Solana Wallet?

A Solana wallet is a digital tool that allows users to store, send, and receive SOL, the native cryptocurrency of the Solana blockchain, as well as SPL tokens—Solana’s equivalent to Ethereum’s ERC-20 tokens. Beyond basic transactions, a Solana wallet enables interaction with decentralized applications (DApps), participation in staking, liquidity provision, and NFT storage.

Unlike traditional banking systems, Solana wallets are non-custodial—meaning you, and only you, have control over your funds. No third party, including wallet developers, can access your assets. This ownership comes with full responsibility: safeguarding your private key or recovery phrase is critical.

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Key Components of a Solana Wallet

Every Solana wallet consists of three core elements:

Think of it this way:
Your wallet address is your account number.
Your recovery phrase is your master password.
And unlike banks, no customer service can recover it for you.

Importantly, Solana wallets offer pseudonymity—your identity isn’t tied to your address. Transactions occur transparently on the blockchain, but personal details remain private.

Top Solana Wallets in 2025

Several wallets support the Solana ecosystem, each offering unique features for different user needs.

Coin98 Super Wallet

The Coin98 Super Wallet is a multi-chain, non-custodial wallet that serves as a gateway to DeFi and Web3. It supports SOL and SPL tokens and integrates tools like a DApp browser, staking dashboard, and swap functionality.

As a decentralized wallet, Coin98 ensures users retain full control of their assets. It's ideal for those interacting across multiple blockchains while maintaining seamless access to Solana-based applications.

Phantom Wallet

Phantom is a user-friendly, Solana-native wallet available as a browser extension and mobile app. Designed specifically for the Solana ecosystem, it features an intuitive interface, built-in staking, and direct token swapping.

Its clean design makes it perfect for beginners exploring DeFi on Solana.

Solflare

Developed by Solana Labs, Solflare is one of the earliest wallets built for the network. It supports advanced features like token swaps and governance participation. While similar to Phantom, Solflare uses a 24-word recovery phrase and lacks some mobile swap capabilities.

How to Create a Solana Wallet on Mobile

Creating a Solana wallet on mobile is simple using the Coin98 Super Wallet.

Step 1: Download Coin98 Super Wallet

Available on both iOS and Android, Coin98 allows you to manage SOL, SPL tokens, and interact with DApps.

After installation, open the app and select your preferred language.

From the home screen, choose Create New Wallet or Restore Existing Wallet.

Step 2: Set Up Your Wallet

  1. Tap Wallet → Manage → Add Wallet.
  2. Select the Solana (SOL, SPL) icon or opt for a Multi-chain Wallet using one recovery phrase.
  3. Name your wallet for easy identification.
  4. Securely back up your recovery phrase—this is irreversible.
  5. Confirm by tapping Create Wallet.

You can now view your new wallet under Manage All Wallets.

Remember: Never store your recovery phrase digitally or share it with anyone.

How to Create a Solana Wallet on Desktop

For desktop use, Coin98 Extension Wallet offers full functionality via browser integration.

Step 1: Install the Extension

Visit the official site and install the Coin98 Extension Wallet for Chrome or compatible browsers.

Step 2: Create Your Wallet

  1. Open the extension and set a password.
  2. Click the Manage icon → Add Wallet.
  3. Choose Solana Wallet → Create.
  4. Name your wallet and securely back up your recovery phrase.
  5. Confirm creation.

Your Solana wallet is now ready for use on desktop.

👉 Learn how to securely manage multiple crypto wallets across devices.

How to Use Your Solana Wallet

Receiving Tokens

  1. Open your wallet and select your Solana wallet.
  2. Tap Receive.
  3. Copy your wallet address or share the QR code.

You can now receive SOL or any SPL token (e.g., USDC, RAY) sent to this address.

Sending Tokens

  1. Select your wallet and tap Send.
  2. Choose the token and enter the recipient’s address and amount.
  3. Adjust the gas fee using the slider (Solana fees are minimal).
  4. Slide to confirm the transaction.

Always double-check addresses—transactions are irreversible.

Swapping Tokens

Coin98 Exchange offers seamless token swaps on Solana.

On Mobile:

  1. Tap Swap on the home screen.
  2. Choose Coin98 Exchange or Saros Swap.
  3. Select input and output tokens (e.g., SOL to USDC).
  4. Review fees and slippage in Review Order.
  5. Tap Approve (first-time users) then Swap.

On Desktop:

  1. Visit Coin98 Exchange via the extension.
  2. Connect your wallet.
  3. Search for tokens, enter amount, review details.
  4. Confirm with Approve → Swap → Confirm Transaction.

Accessing Solana DApps

The Multi-chain DApp Browser in Coin98 Super Wallet lets you explore DeFi platforms directly.

  1. Tap Browser on the home screen.
  2. Search or browse categorized DApps (DeFi, NFTs, Gaming).
  3. Connect your wallet and start interacting securely.

This feature eliminates the need for multiple extensions or apps.

Checking Transaction History with Solana Explorers

To verify transactions or explore wallet activity, use blockchain explorers like:

Enter your wallet address to view balances, transaction history, token holdings, and smart contract interactions—all in real time.

Frequently Asked Questions (FAQ)

Is it safe to store SOL and SPL tokens in a Solana wallet?

Yes—especially when using non-custodial wallets like Coin98 or Phantom. You control your private keys, ensuring maximum security as long as you protect your recovery phrase.

Are there fees for sending tokens?

Yes, but they’re extremely low—typically under $0.01 per transaction—paid in SOL as gas fees to validate transactions on the network.

Can I create multiple Solana wallets?

Absolutely. Each wallet has a unique address and recovery phrase. Use distinct names to organize them effectively.

Can a Solana wallet store other cryptocurrencies?

Only SOL and SPL tokens are supported natively. Sending tokens from other blockchains (e.g., ERC-20 tokens) to a Solana address may result in permanent loss.

Does a Solana wallet support NFTs?

Yes! You can store, view, and transfer NFTs minted on the Solana blockchain directly within compatible wallets like Coin98 or Phantom.

Which Solana wallet is best?

Final Thoughts

As the Solana ecosystem continues to expand—with faster speeds, lower costs, and innovative DeFi projects—a reliable wallet is essential for secure participation.

Whether you're swapping tokens, staking SOL, or collecting NFTs, choosing the right wallet enhances both security and usability. By following best practices—backing up recovery phrases, verifying addresses, and using trusted platforms—you can confidently navigate the future of decentralized finance.

👉 Start exploring decentralized finance safely with a trusted crypto platform today.