One of the biggest hurdles is dealing with seed phrases, those long strings of random words you need to write down and keep safe.
Forget your seed phrase, and you could lose access to your crypto forever. That’s a lot of pressure for anyone.
Phantom Wallet Ditches Seed Phrases for Easy Crypto Access
According to a blog post, this new system allows you to create a wallet using just your email address and a 4-digit PIN. With this, users get a web2-like experience but with the powerful security and control that comes from web3. Here’s how it works:
- Seamless Setup: You can create a wallet using your Google or Apple account, making it as easy as logging into any other app. No complicated seed phrases to remember, just a few clicks and you’re in.
- Easy Recovery: If you ever lose access to your wallet, you can recover it using your Google or Apple account and your 4-digit PIN. You don’t have to panic or search for a forgotten backup phrase—everything you need is right at your fingertips.
- Enhanced Security: Even though it’s easier to use, your wallet is still stored securely. Your crypto is decentralized and protected, so you don’t have to worry about it being hacked or stolen.
It’s never been easier to onboard your friends and family to crypto.
Starting today, new users can sign up for Phantom with just an email and a 4-digit PIN. pic.twitter.com/aUHx0QQkKw
— Phantom (@phantom) December 3, 2024
Phantom Wallet’s new approach takes the headache out of crypto. It’s a win for users who want to get into the world of digital assets without worrying about complex technical steps. You get all the benefits of web3 without feeling like you’re trying to crack a code.
More About Phantom Wallet
If you’re using Solana/web3.js versions 1.95.6 or 1.95.7, your system may be at risk due to a secret stealer that leaks private keys. This vulnerability compromises the security of any user or product utilizing these versions. To protect your assets, it’s crucial to upgrade to version 1.95.8 as soon as possible.
Phantom is not impacted by this vulnerability.
Our Security Team confirms that we have never used the exploited versions of @solana/web3.js https://t.co/9wHZ4cnwa1
— Phantom (@phantom) December 3, 2024
Version 1.95.5 is unaffected, so if you’re using that, you’re safe. Phantom Wallet has confirmed that they are not impacted by this issue, as their Security Team has never used the affected versions of @solana/web3.js.
Disclaimer
The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted risk tolerance levels of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd.