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What is Fantom Wallet? How to create & use a Fantom Wallet

What is Fantom wallet? Where to create a Fantom Wallet? In today's article, I will show you the details on how to create Fantom Wallet.
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linhha
Published Jul 03 2021
Updated Apr 23 2024
9 min read
fantom wallet

Fantom is a fast, cheap, scalable, decentralized and secure blockchain platform that uses distributed ledger technology for building DApp. The Fantom ecosystem has grown tremendously with many quality projects such as SpookySwap, SpiritSwap, Reaper Farm,…

To be able to skin in this blockchain, of course, you will need a Fantom Wallet. In today's article, I will show you the details on how to create a Fantom Wallet.

What is Fantom Wallet?

Fantom Wallet is where FTM, FRC20 standard tokens are stored on the Fantom blockchain. You can send and receive FTM, FRC20 standard tokens as well as interact with applications on the Fantom platform.

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In particular, this wallet is owned by you, so no one has the right to influence or use the wallet other than you.

What is included in a Fantom Wallet address?

A FTM Wallet has 3 extremely important pieces of information you must note:

Wallet address: A sequence of numbers and characters used to send assets to the Fantom wallet. Others can transfer coins to you through the wallet address you provide. A Fantom (FTM FRC20) wallet address will have the following format: 0x988D8Cd06ac8A99901f27D2eAD6225656Cbf17c3.
Passphrase: A security key that can be understood as a password consisting of any 12 English keywords. If you want to perform the wallet recovery operation, you must go through the Passphrase login step. Format of a Passphrase: entire annual slow album wisdom snow slice reject pony flower middle wish.
Private Key: A string of letters and numbers to connect to the account, quite similar to the password of a bank account. Format of a Private Key: 0xf9ef17ea44c2813e564100728781cdb5887a2363fd80ffe7e42fe09ef2b1fd0dx

To visualize, you can imagine that the Fantom Wallet is a bank account, the wallet address is the account number and the passphrase/private key is the password.

The difference here is that with a bank account, other people will know your personal information. As for the Fantom Wallet, the user becomes anonymous, no one knows who owns the wallet, and transactions only occur through the address encoded into a sequence of numbers and characters.

Fantom Wallet Review 2022

There are many wallets on the market that support creating EVM blockchain wallets and the Fantom blockchain is one of them. Let's take a look at some outstanding Fantom wallets in the crypto world.

Coin98 Super App

Coin98 Super App is a well-known super app containing crypto services, and it is the gateway of DeFi & Web3. After installing the Coin98 Super App, you can experience many of its features such as Dapp Browser, Terminal toolkit, Coin98 Staking,...

Because it is a decentralized wallet platform, users are in complete control of their assets, no one has access to your wallet, including the developers. You can rest assured when storing FTM, FRC20 standard tokens here.

Fantom Wallet (fWallet)

fWallet is the official Fantom wallet. The Fantom Wallet has been created as a Progressive Web App (PWA) where users can send, receive, stake FTM and access the Fantom DeFi ecosystem.

Create the fWallet here: fwallet. fantom.network

MetaMask

MetaMask is a decentralized wallet based on the Ethereum ecosystem, as well as an add-on plugin that allows users to run DApps right on its browser. Metamask allows you to store mainnet FTM and interact with Fantom dApps. Despite the disadvantages such as not being able to log in to many wallet addresses, as well as manually updating assets, MetaMask is still a trusted destination for many people around the world.

Create a MetaMask wallet here: How to use Metamask Wallet

How to create a Fantom Wallet

This tutorial will guide you on how to create a new Fantom wallet on both the mobile and desktop interfaces, so you can also install both to flexibly switch use.

Coin98 Super App

Download and access the app

Fantom Wallet is now available on the Coin98 Super App for both iOS and Android users.

After downloading the app, open the Coin98 Super App application and select the language you want to use before directly accessing the wallet interface.

At this interface, you can create a new wallet or restore an existing wallet from other wallet applications to the Coin98 Super App.

Create the Fantom Wallet (FTM FRC20)

Step 1: Open the application, at the homepage click the Wallet icon → Manage.

Step 2: Click Add Wallet and click on the Fantom (FTM FRC20) icon to create a Fantom wallet, or you can choose to create a Multi-chain wallet to own more wallets with just one passphrase (recommended) → Create. 

Step 3: Create a name for the wallet (name it something that you can remember or is convenient for later use). Click Next. 

Step 4: Backup the Passphrase/ Private key in a safe place.

Note: These are CRUCIAL information that directly affects control over your assets.

Copy and paste the Passphrase/Private key into the Confirmation box.
Tick ​​the Backup your recovery key box and click on the copy icon to confirm that you have saved your Passphrase/Private key. You must save the security key in a safe place and do not disclose it to anyone. Otherwise, your account is at risk of being stolen if someone knows these sequences of characters.
Tick ​​the two remaining boxes to confirm that you understand the risks if you lose your Passphrase/Private key.

Select Create Wallet.

Once done, you can also go to Manage → Manage All Wallets to check the newly created Fantom wallet.

Coin98 Extension Wallet

Installation instructions

You can access chrome.coin98.com to install the Coin98 Extension Wallet.

For instructions on installing and using Coin98 Extension Wallet, you can refer to this guide HERE.

Create the Fantom Wallet (FTM FRC20)  

‌Step 1: Open the Coin98 Extension Wallet and insert your password. At the main interface click Manage. Click Add Wallet.

‌Step 2: Select the Fantom icon → Create Wallet.

Step 3: Create a name for the wallet (name it something that you can remember or is convenient for later use). Click Next.

Step 4: Backup the Passphrase/Private key in a safe place.

Select Create Wallet.

After that, you can also go to Manage → Manage All Wallets to check the newly created Fantom Wallet.

How to use Fantom Wallet

Add FTM and FRC20 tokens to Fantom Wallet

This process is similar on both the mobile version and the extension, so you can follow these steps for both.

Option 1

Step 1: Click the Fantom Wallet on the main screen.

Step 2: Click Receive.

Step 3: Copy the wallet address or use the QR code address and send your assets to this address.

Option 2

Step 1: Click the search icon on the main screen.

Step 2: Enter FTM, FRC20 token in the search bar.

Step 3: Click the icon to copy the wallet address or get the QR address and send your assets to this address.

You can send FTM, FRC20 tokens to the address copied in step 3.

Send FTM, FRC20 tokens

This operation works the same on both the Coin98 Super App and the Coin98 Extension Wallet. I will give an example of how to send FTM stored in the mobile wallet.

Step 1: Click the Fantom wallet 

Step 2: Choose Send.

Step 3: Select the token, the number of tokens you want to send & the wallet address to send to. Adjust the Gas fee slider to suit your needs → Slide the Send bar to confirm.

In addition, you can also go to the Send section in the main interface, select the Fantom wallet you want to send from.

Note:

The gas fee for each transaction is paid with FTM, approximately 0.0012 FTM
The default gas fee on the Coin98 Super App has been set at the standard rate that offers the most optimized speed at a reasonable cost.

Swap FTM or FRC20 tokens

How to swap FTM or FRC20 tokens on the Coin98 Super App

From version 11.3 onwards, Coin98 Native Swap has integrated SpookySwap and SpiritSwap, providing a secured approach to trade FRC20 tokens natively right on Coin98 Super App and Coin98 Extension Wallet.

Step 1: On the Coin98 Super App main interface, click Swap.

Step 2: Choose SpookySwap or SpiritSwap to start trading.

Then you need to insert the following information:

Select the wallet that holds the coin/token you want to swap.
Select the token you want to swap from the list. We will take FTM and BOO for this example but you can choose other tokens as needed.
For those that haven’t been listed on the Coin98 Super App, you can still trade using their contract addresses.

Step 3: Choose the swapping amount. Before swapping, please kindly check the information in the Review Order section. Then select Approve (if this is your first trade) → Swap to complete.

How to connect the Coin98 Extension Wallet for trading FTM/FRC20 tokens on Coin98 Exchange

Step 1: Access Coin98 Exchange at: exchange.coin98.com

Step 2: To select an AMM, please click one of the two positions highlighted in the picture below.

Choose SpookySwap or SpiritSwap.

Step 3:  Select the token you want to trade in the token search bar. We will take USDC and FTM for this example but you can choose other tokens as needed.

Step 4: Choose the swapping amount. Before swapping, please kindly check the information in the Review Order section. Then select Approve (if this is your first trade)Swap to complete.

Step 5: Choose Confirm if you agree with the fee and want to make this transaction.

How to access Fantom DApps through the DApp Browser on the Coin98 Super App

The Multi-chain DApp Browser on the Coin98 Super App is the gateway for users to experience multichain decentralized applications simply, quickly and securely.

Coin98 Multi-chain DApp Browser has been integrated with many Dapp on the Fantom blockchain.

Exchanges: Spirit Swap, SpookySwap, Vampire Swap, Hyper Jump,…
Finance: Curve,…
NFT: Artion,…
Farm and Stake: Beefty.Finance, Reaper Farm,…
Cross-chain bridge:  xPollinate, RenBridge, AnySwap, cBridge,…

The Coin98 Super App optimizes the user experience by arranging DApps in the most intuitive and logical categories. Now, users can search and access their favorite DApps on the Fantom ecosystem by following these steps:

Step 1: After logging in to your Coin98 account, click Browser on the home screen.

Step 2: In the Dapp Browser, you can select your favorite Fantom Dapp by following these steps:

Option 1: Enter the Dapp name or URL  in the search bar.
Option 2: Click the Fantom logo on the Dapp Brower’s main interface, Fantom Dapps that are integrated will be shown according to the DeFi service that Dapp provided.  After that, tap the DApp logo to access.

Using the Fantom Wallet Explorer to check the transaction history

Fantom Wallet Explorer is the Fantom ecosystem explorer, allowing access to information such as wallet addresses, cryptocurrency transactions, smart contracts, etc. Complex data is easier to grasp now than ever before.

Some of the Fantom Explorers that are commonly used by many users include:

FTMScan: ftmscan.com
Fantom Explorer: explorer.fantom.network

Some notes when using the Fantom Wallet

Is it safe to store FTM, FRC20 standard tokens on the Fantom Wallet?

Coin98 Wallet is a non-custodial wallet, that is, full control of assets belongs to you, no one has access unless you disclose the key to others. Therefore, it is perfectly safe for your assets.

Is there a fee to transfer FTM, FRC20 tokens?

Sending FTM, FRC20 tokens from a Fantom Wallet will cost the blockchain platform fee in FTM. But the transaction fees on Fantom are much cheaper than on Ethereum.

Is it possible to create multiple Fantom wallets?

Yes!  You can create as many Fantom wallets as you want. Each wallet will have a different address and passphrase, so remember to save each of them. Each wallet should be named so that you can easily manage them if you create multiple Fantom wallets.

Can Fantom Wallet store other coins?

Fantom Wallet can store FTM, FRC20 standard tokens supported by the Fantom blockchain platform. In addition, do not transfer any coins on other blockchain platforms to Fantom Wallet if you do not want to lose your assets

What is the best Fantom Wallet app?

For those who mainly interact with the Fantom ecosystem, fWallet will be one of the options worth considering.

For those who use a lot of blockchain platforms and Solana is among them, the Coin98 Super App or MetaMask is a great choice for you.

Summary

With the fast development of the crypto market, you will see a series of potential DeFi projects appearing on Fantom. Hope the tutorial can help you to easily create and use the Fantom (FTM FRC20) Wallet on Coin98.

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