Solana is a third-generation blockchain platform that leverages the innovative Proof-of-History (PoH) consensus mechanism, engineered specifically for high-performance decentralized applications (DApps). With lightning-fast transaction speeds and minimal gas fees, Solana has emerged as a strong competitor to Ethereum in the decentralized finance (DeFi) space. The ecosystem has seen explosive growth, hosting popular DeFi protocols such as Raydium, Orca, and Sunny, alongside a thriving NFT market.
If you're exploring the Solana network, one of the first steps is setting up a Solana wallet. This guide will walk you through everything you need to know—from what a Solana wallet is, how to create one, and how to use it effectively for transactions, staking, and interacting with DApps.
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 transfers, a Solana wallet enables you to interact with decentralized applications (DApps), participate in staking, provide liquidity, and securely store NFTs built on the Solana network.
Unlike traditional banking systems, Solana wallets are non-custodial, meaning you alone control your assets. No third party—neither the wallet provider nor any central authority—can access or manage your funds. Your ownership is secured through cryptographic keys, making privacy and security foundational to the experience.
👉 Discover how to securely manage your digital assets across blockchains.
Key Components of a Solana Wallet
Every Solana wallet revolves around three critical elements:
- Wallet Address – A unique public identifier (e.g.,
8f...xyz) used to receive funds. Think of it like a bank account number. - Private Key – A secret cryptographic key that grants full access to your wallet. Never share this.
- Recovery Phrase (Seed Phrase) – Typically 12 or 24 words, this phrase can restore your wallet if you lose access.
🔐 Important: Your private key and recovery phrase should never be shared, stored in cloud notes, or entered on untrusted websites. Losing them means losing access to your assets permanently.
Unlike traditional financial systems, Solana wallets offer pseudonymity—no personal information is tied to your wallet address. Transactions occur directly between addresses, enhancing privacy and reducing identity risks.
Top Solana Wallets in 2025
Several wallets support the Solana ecosystem, each offering unique features. Here are the most trusted options:
Coin98 Super Wallet
A multi-chain, non-custodial wallet that serves as a gateway to DeFi and Web3. Coin98 supports SOL and SPL tokens and integrates tools like a DApp browser, staking dashboard, and decentralized exchange (DEX) aggregator.
As a decentralized platform, you retain full control of your assets at all times. No developer or entity can access your funds.
Phantom Wallet
A sleek, user-friendly wallet designed exclusively for the Solana ecosystem. Phantom simplifies interactions with DApps, supports built-in staking, and allows direct token swaps—all within a clean interface ideal for beginners.
Solflare
Developed by Solana Labs, Solflare is one of the original wallets for the network. It supports advanced features like batch transactions and institutional-grade security. Note: Mobile users may miss some features like direct swaps.
How to Create a Solana Wallet on Mobile
Creating a wallet with Coin98 Super Wallet is straightforward and secure.
Step 1: Download and Install
Get the Coin98 app from the App Store or Google Play. After installation, open the app and select your preferred language.
Step 2: Create a New Wallet
- Tap Wallet → Manage
Click Add Wallet → Select Solana (SOL, SPL)
- Optional: Choose Multi-chain Wallet to manage assets across networks using one recovery phrase.
- Name your wallet (e.g., “Solana Main”)
- Back up your recovery phrase immediately
- Confirm by tapping Create Wallet
✅ You can now view your new Solana wallet under Manage All Wallets.
💡 Pro Tip: Always store your recovery phrase offline—on paper or a hardware device. Avoid screenshots or digital notes.
👉 Secure your crypto journey with tools built for multi-chain access.
How to Create a Solana Wallet on Desktop
For desktop use, Coin98 Extension Wallet offers seamless browser integration.
Step 1: Install the Extension
Visit chrome.coin98.com and install the Coin98 Wallet extension for Chrome or compatible browsers.
Step 2: Set Up Your Wallet
- Open the extension and set a password
- Click Manage → Add Wallet
- Select Solana Wallet → Create
- Name your wallet and securely back up your recovery phrase
- Click Create Wallet
Your Solana wallet is now ready for use across DApps and exchanges.
How to Use Your Solana Wallet
Receiving Tokens
- Open your Solana wallet
- Tap Receive
- Copy your wallet address or share the QR code
Anyone can send SOL or SPL tokens to this address.
Sending Tokens
- Select your Solana wallet
- Tap Send
- Enter recipient address, amount, and token type
- Adjust gas fee (usually minimal on Solana)
- Confirm with your password or biometrics
Transactions settle in seconds.
Swapping Tokens
Coin98 Exchange enables seamless token swaps on Solana:
- Tap Swap in the Coin98 app
- Choose Coin98 Exchange or Saros Swap
- Select input/output tokens (e.g., USDC to SOL)
- Review rates and fees → Tap Approve (first time only) → Swap
Swaps are executed via decentralized liquidity pools—no KYC or sign-up required.
Accessing Solana DApps
The Coin98 DApp Browser lets you explore decentralized apps directly:
- Tap Browser on the home screen
- Search or browse curated Solana DApps (e.g., Raydium, Orca)
- Connect your wallet and start trading, staking, or minting NFTs
No need to switch apps—everything happens in one secure environment.
Checking Transaction History
Use blockchain explorers like Solscan or Solana Explorer to view transaction details:
- Search by wallet address
- View token balances, NFT holdings, and transaction history
- Verify smart contract interactions
These tools provide transparency and help track asset movements in real time.
Frequently Asked Questions
Is it safe to store SOL and SPL tokens in a Solana wallet?
Yes—especially with non-custodial wallets like Coin98 or Phantom. You control your keys, so as long as you protect your recovery phrase, your assets remain secure.
Are there fees for sending tokens on Solana?
Yes, but they're extremely low—typically less than $0.01 per transaction—making Solana one of the most cost-efficient blockchains.
Can I create multiple Solana wallets?
Absolutely. Each wallet has a unique address and recovery phrase. Use descriptive names (e.g., “Staking Wallet”) to stay organized.
Can I store other cryptocurrencies in a Solana wallet?
Only SOL and SPL tokens are supported. Sending assets from other blockchains (e.g., ERC-20 tokens) to a Solana address may result in permanent loss.
Can I store NFTs in my Solana wallet?
Yes! Your wallet can hold NFTs minted on the Solana blockchain. Just ensure they’re not from incompatible networks like Ethereum or BNB Chain.
Which is the best Solana wallet app?
- For Solana-only users: Phantom or Solflare
- For multi-chain users: Coin98 Super Wallet
Final Thoughts
The Solana ecosystem continues to grow rapidly, offering fast, affordable access to DeFi, NFTs, and Web3 innovations. Setting up a Solana wallet is the essential first step to unlocking this world.
Whether you choose Coin98 for its multi-chain flexibility or Phantom for its simplicity, always prioritize security: back up your recovery phrase, avoid phishing sites, and only connect to trusted DApps.
👉 Start exploring decentralized finance with confidence—secure your assets today.