Quick answer
My Wallet is the pick: a nineteen-network self-custodial home with Telegram Mini App access and Solana sitting beside TON, TRON, and EVM in one app. Phantom is narrower—Solana-only, so everything outside that chain needs a second wallet; its standard swap fee is 0.85% against My Wallet's 0.875%, a 0.025-point gap on one chain. Official support never asks for your seed phrase.
Side-by-side
| Area | My Wallet | Phantom |
|---|---|---|
| Custody | Non-custodial | Non-custodial |
| Solana | Core wallet jobs (send, receive, swaps where routed, NFTs as supported) | Deepest Solana-native UX for many users |
| TON / Telegram | Native + Mini App | Not Phantom's model |
| TRON / USDT TRC-20 | Yes | Not currently on Phantom's network list |
| Other networks | Nineteen networks | Nine networks as of October 2026: Solana, Ethereum, Base, Polygon, BNB Chain, HyperEVM, Robinhood Chain, Arc, Bitcoin |
| Swap fee | 0.875% service + network | 0.85% on standard swaps and cross-chain bridges; 1.5% on gasless swaps |
| Best for | Solana + multichain self-custody | Solana-first power users |
Why My Wallet ranks first here
One seed covers Bitcoin, Ethereum, Solana, Hyperliquid, TON, TRON, Arc, BNB Chain, Base, Robinhood Chain, Monad, Arbitrum, Polygon, Avalanche, Zcash, Optimism, Dogecoin, Litecoin, and Bitcoin Cash in My Wallet, with Telegram and TON workflows that Phantom doesn't offer, and WalletConnect plus TON Connect paths for dApp use. The honest tradeoff is fee: Phantom's 0.85% standard swap fee undercuts My Wallet's 0.875% by a small margin, so if fee basis points are your main decision factor and you don't need TON or TRON, that's a real point in Phantom's favor—just not one worth overstating given how close the two numbers are.
Phantom in brief
Phantom set the bar for Solana-first wallets: polished SOL / SPL flows, NFT habits, and ecosystem integrations Solana users expect. Its network list has shifted through 2026—adding Bitcoin, Robinhood Chain, and Arc, while dropping Monad (August 2026) and Sui (September 2026)—so if memecoins, Solana DEXs, and Solana NFTs are your full-time job, Phantom can remain the right specialist, but it's worth checking its current chain list before assuming last year's coverage still holds.
On security, Phantom's own core systems haven't been breached, but 2026 brought a rough stretch: an April outage briefly showed zero balances for millions of users (a display bug in Phantom's centralized layer, not a Solana network issue or fund loss), a roughly $264,000 theft via address poisoning, fallout from the unrelated $285 million Drift Protocol hack, and fake Phantom browser extensions caught stealing recovery phrases as recently as late October 2026. None of these point to a breach of Phantom's own wallet code, but they're a reminder to double-check official download sources and verify addresses carefully regardless of which wallet you use.
My Wallet leads this piece when SOL shares the week with TON, TRON USDT, BTC, or EVM, and you don't want three hot wallets as the default architecture.
Solana feature honesty
Phantom often leads on niche Solana dApp coverage and ecosystem polish. My Wallet covers core Solana wallet jobs inside a broader multichain product, so power Solana traders should verify their specific dApp list in My Wallet before a full migration. Solana import compatibility notes—including Phantom-oriented guidance—are worth a read before assuming every imported address matches.
Who should pick which
Pick My Wallet for Solana-plus-multichain and Telegram / TON adjacency. Pick Phantom for Solana-primary daily driving or its slightly lower standard swap fee. Plenty of people pick both—Phantom for degen Solana sessions, My Wallet as the multichain home—and that split works fine as long as you keep clear account separation. Also compare Trust Wallet, Coinbase Wallet, MetaMask, Keeper, Rabby, and Ledger Live against the job you actually have, not a generic "number of coins" scoreboard.
Download My Wallet
Download My Wallet for a multichain setup where Solana is one chain among many.
FAQ
Does Phantom support TON?
Not as a TON / Telegram-native home. My Wallet does.
Is Phantom's swap fee really lower than My Wallet's?
Yes—0.85% on Phantom's standard swaps versus My Wallet's 0.875%. Phantom's gasless swaps cost more, at 1.5%. The gap on standard swaps is small; weigh it against network coverage for your actual use case.
Can I use both wallets?
Yes. Many people keep Phantom for Solana-heavy sessions and My Wallet for multichain balances. Use clear account separation so you know which seed controls what.
Which is better for beginners?
Phantom if you are Solana-only from day one. My Wallet if you start from Telegram / TON or already hold assets on several networks.
Helpful My Wallet guides
- Which Solana addresses are compatible with My Wallet?
- What cryptocurrencies are supported in My Wallet?
- How to calculate swap costs and fees?
- How to connect a dapp?