Key Points

  • Phantom is free to download and does not charge you to receive, hold or send crypto. You only pay the network fee on transactions.
  • Phantom adds a 0.85% fee to in-wallet swaps, including cross-chain swaps. The fee is shown in the quote before you confirm.
  • Gasless swaps on Solana, available in the mobile app, charge a single 1.5% fee taken from the token you swap, so you do not need SOL for gas. The minimum trade is about $15.
  • Network fees go to the blockchain, not to Phantom. They are tiny on Solana and most Layer 2s and can be much higher on Ethereum mainnet when it is busy.
  • Buying crypto with a card or bank inside Phantom goes through a third-party provider, which sets its own fees.

Quick Answer

Phantom does not charge for holding, receiving or sending crypto; you only pay the blockchain's network fee. Its own fee applies to swaps made inside the wallet: 0.85% on standard and cross-chain swaps, or 1.5% all-in for gasless swaps on Solana mobile. Read every quote as three parts: Phantom's fee, the network fee and any slippage. The common misread is that a high fee in Phantom is Phantom's charge. Usually it is Ethereum network gas, which Phantom passes through at whatever the network is charging.

What fees does Phantom charge?

  • Downloading and holding: free.
  • Receiving crypto: free on Phantom's side. The sender pays the network fee.
  • Sending crypto: no Phantom fee, only the network fee for that chain.
  • In-wallet swaps on one chain: 0.85% Phantom fee plus the network fee.
  • Cross-chain swaps (bridging inside Phantom): 0.85% Phantom fee, plus network fees on both chains and any fee charged by the bridge route.
  • Gasless swaps on Solana (mobile): 1.5% all-in, with no separate gas.
  • Buying with card or bank: set by the third-party provider and shown before you pay.
  • Staking SOL: Phantom does not add a fee to native staking; the validator keeps a commission from your rewards, which varies by validator. Liquid staking tokens carry their own fees.

Source: Phantom fee information at phantom.com/fees; Ethereum.org wallet listing for Phantom.

How does the 0.85% swap fee work?

When you swap inside Phantom, the wallet routes your trade through outside liquidity sources to find a price, then adds its 0.85% fee. The fee is built into the quote, so the amount you receive already has it taken off. On a $1,000 swap, Phantom's share is $8.50, before network fees and slippage.

The fee pays for convenience: the routing, the safety checks and not having to visit a separate exchange. If you swap often or in large amounts, connecting Phantom to a decentralised exchange such as Jupiter on Solana and swapping there avoids Phantom's fee, although that exchange may charge its own fee and you take on the usual risks of approving a new site.

What does a cross-chain swap cost?

A cross-chain swap moves value from one network to another in a single step, for example from Solana to Base. The quote combines Phantom's 0.85% fee, the network fee on the chain you leave, the network fee on the chain you arrive on, and any fee charged by the bridge provider Phantom routes through. Cross-chain quotes can also move more between quote and confirmation, so check the minimum you will receive before you approve. Our guide to crypto bridges covers the risks of moving funds between chains.

What are gasless swaps on Solana?

Gasless swaps let you trade on Solana in the Phantom mobile app even when you have no SOL for the network fee. Instead of paying gas separately, a single 1.5% fee is taken from the token you are swapping. Phantom introduced the feature in 2025 and lowered the minimum trade to about $15.

It is useful when your SOL balance has run dry. For regular swaps it costs more than a standard swap, so keeping a small SOL balance for gas is the cheaper habit.

How much are network fees on each chain?

Network fees go to the blockchain's validators or miners, not to Phantom, and they change with demand.

  • Solana: usually a tiny fraction of a cent, with an optional priority fee when the network is busy.
  • Base and other Layer 2s: usually cents. Our guide to Layer 1 and Layer 2 blockchains explains why.
  • Ethereum mainnet: varies most, from low to expensive during busy periods. Our guide to gas fees explains how they are set.
  • Bitcoin: priced by transaction size and demand for block space, so a busy day costs more.

Each network's fee is paid in its own coin: SOL on Solana, ETH on Ethereum and Base, and so on. If a transaction fails with an "insufficient funds for fee" message, you usually need a little of that network's coin.

Is Phantom cheaper than other wallets?

For swaps, Phantom sits in the middle. Its 0.85% in-wallet swap fee is close to MetaMask's 0.875% swap fee. Swapping directly on a decentralised exchange or an aggregator is usually cheaper on large trades. For simply holding, receiving and sending, Phantom costs nothing beyond network fees, like most self-custody wallets. Our Phantom vs Solflare vs MetaMask comparison covers the wider differences.

How can you keep Phantom fees low?

  • Keep a small balance of each network's coin so you can use standard swaps rather than gasless ones.
  • Use Solana or a Layer 2 rather than Ethereum mainnet when you have a choice.
  • Avoid unnecessary bridging. Swap on the network where your funds already are.
  • Check the quote breakdown before confirming: Phantom fee, network fee, slippage and minimum received.
  • For large or frequent swaps, compare Phantom's quote with a decentralised exchange.

Frequently Asked Questions

Does Phantom charge a fee to receive crypto?

No. Receiving is free on Phantom's side; the sender pays the network fee.

Why was my Phantom fee so high?

In most cases it was Ethereum network gas during a busy period, which Phantom passes through unchanged. Check which network the transaction was on, and consider a Layer 2 next time.

Does Phantom support Bitcoin?

Yes. Phantom supports native Bitcoin, including Ordinals, alongside Solana, Ethereum, Base, Polygon, Sui and other networks. Bitcoin transactions pay Bitcoin network fees. Our guide to adding Bitcoin to Phantom shows how.

Can I avoid the 0.85% swap fee?

Yes, by swapping on a decentralised exchange directly instead of Phantom's built-in swapper. You still pay network fees and any fee that exchange charges.

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Further Reading

Sources

  • Phantom, fees information: phantom.com/fees
  • Phantom announcements on gasless swaps and the $15 minimum, May 2025: Phantom on X
  • Ethereum.org wallet directory, Phantom listing (swap fee 0.85%): ethereum.org/wallets

This article is for education only and is not financial, investment or legal advice. Fees and features change, so check the quote in Phantom before you confirm any transaction. Crypto assets are volatile and you can lose some or all of the money you put in. Do your own research and consider independent advice before making any financial decision.