How to Send USDC to Phantom Wallet (2024)

Anyone can buy and hold crypto. However, one thing that can be challenging is moving your crypto from one wallet to another. This is especially so with unconventional wallets like Phantom, which is a browser extension.

We'll use USDC as a case study to demonstrate how to send any cryptocurrency to Phantom wallet, whether from an exchange or another wallet.

What Is Phantom Wallet?

As stated earlier, Phantom is a browser wallet and one of the best browser extension wallets available. It works with top browsers such as Brave, Chrome, and Firefox, and also has a mobile app that you can sync with your browser.

Phantom is a wallet built on the Solana network and is used to interact with decentralized applications, smart contracts, non-fungible tokens (NFTs), and crypto tokens based on the Solana blockchain. With it, you can easily store, buy, send, or receive tokens and NFTs.

The following is how you can send USDC to your Phantom wallet. In this guide, we will use Binance as the source of the funds.

1. Create a Phantom Wallet

If you already have a Phantom wallet, great! You can move on to the next step. If you don't, you need to create one, and it's easy.

First, head to Phantom Wallet, select Download and scroll down until you see the list of browsers. Select your browser and proceed to the next page.

Proceed to Add to Brave or whatever browser you're using. Read and agree to the disclaimer from your browser (if any) by clicking on Add Extension.

Once the installation is complete, you'll be taken to another page where you will be asked to either create a new wallet or restore an existing one. If you don't have one already or didn't save the recovery keyphrase, select the first option to create a new wallet.

You'll then be asked to create a password and confirm it; that's all that is required. After that, agree to the terms of service by checking the box and clicking continue.

The next step is critical. It is the stage where you save your recovery keyphrase. If you skip this stage and something happens to your wallet, you may lose your USDC or any other crypto permanently, so approach it carefully. The keyphrase looks blurred, but place your pointer on it, and it will become clear.

Write down the words in the correct order, from left to right, preferably on a sheet of paper. After you're done, check the box next to I Saved my Recovery Phrase, and click Continue. The next page shows you a shortcut for accessing your wallet; Continue, and you're done. Click Finish, and your wallet is all set.

2. Copy Phantom Wallet Address

Now you need to open your wallet and copy the wallet address so that you can send the USDC to it. To access it, go to the top-right of your screen, next to the address bar on any window. There, you'll see an icon that, if you place your pointer on it, is named Extensions. Click on it and select Phantom.

After clicking on Phantom, select Deposit on the pop-up window. A list of all supported cryptocurrencies will come up, but you want to send USDC, so search for it in the search bar.

When it comes up, copy the address by clicking the Copy button next to it, or you can select the Transfer from Exchange option if you are sending from Coinbase or FTX.us. For us, we're transferring from Binance, so we copy the address.

3. Send USDC to Phantom Wallet Address

We now have our Phantom wallet address copied, so we can proceed to Binance to make the transfer. You can do the same thing for any other exchange or wallet.

Proceed to your spot wallet on Binance or wherever your USDC is. Search for USDC and on it, click Withdraw to the right.

Paste the address you copied from Phantom in the bar with Enter Address. Once you paste the address, you'll see that it automatically matches the Solana network, which means all is fine.

Now enter the amount of USDC you wish to transfer or click on MAX in the Amount section. If you have sufficient funds, the Withdraw button will glow.

Click on it and confirm you're the one sending the USDC. You may be required to receive and provide codes on your email and phone number to prove ownership.

Note that Binance has a condition for withdrawing USDC. It takes 1 BNB for every USDC you withdraw, which will be clarified before you fill out the details to finalize the withdrawal.

Once you confirm the transaction and send it, wait a few minutes, and you'll receive your USDC in your Phantom wallet.

This Is How to Send USDC to Phantom Wallet

You can do this with literally any wallet or exchange and still get the same result now that you know how to set up a Phantom wallet. The most important thing is to make sure you select the correct network. Binance sets it to the network automatically, but you may have to select the network manually on some exchanges and wallets.

If you send the funds to the wrong network, you may lose them irreversibly, so it is important to be very careful throughout the process.