Solflare is one of the most popular Solana wallets in the market, and for good reason too. It is secure, easy to use, and above all, allows you to connect to blockchain applications.
This guide serves as your full resource on how to create a Solflare wallet, how to put funds in it, how to use it on dApps, and everything else. Think of it as your Solflare bible.
What is Solflare Wallet?
Solflare is a full-featured crypto wallet built for Solana and SPL tokens, allowing users to buy, store, send, and receive tokens and non-fungible tokens (NFTs), as well as access decentralized applications (dApps). As the first non-custodial wallet for the Solana blockchain, it provides users with sole access to their private keys, allowing them full control over their funds without interference.
How Does Solflare Work?
Solflare is a web3 wallet, which serves as your account on the Solana blockchain; only it isn’t controlled by a bank but by you alone. You can use it to connect or log into different blockchain-based applications on Solana, such as lending platforms, NFT marketplaces, decentralized exchanges (DEXs), and many more.
Let’s dive deep into the wallet’s various features.
Native NFT Display
Solflare allows you to natively view NFTs in your wallet. Note that you can buy NFTs on marketplaces such as Magic Eden.
Native Staking Support
You can actually stake your SOL directly in your Solflare wallet. For detailed instructions, please see the Solflare staking section.
Hardware Wallet Support
Solflare is compatible with Ledger hardware wallets. If you want to integrate your Solflare wallet with a Ledger device, see our How to Use Solflare with Ledger section.
24/7 Live Chat Support
One of Solflare’s best qualities is its customer support which is available at any time. All you need to do is head over to its customer support page and click GET HELP.
How to Use Solflare
Solflare is simple and easy to use. Here is a step-by-step guide on how to use the web3 wallet. Note that you will need to download the wallet app and deposit some SOL in it.
Download Solflare Wallet
First, you need to download and install Solflare, which currently supports Chromium-based browsers (Chrome, Edge, Opera, Brave, etc.), as well as iPhone and Android devices. We highly recommend you primarily use the browser version since it has the fullest functionality, and is much faster to use. A time may come when speedy execution is required (such as minting in-demand NFT projects) and you won’t regret having a browser extension wallet.
Be sure to install it before moving to the next step.
Create a Solflare Wallet
Creating a Solflare wallet will require a series of steps, but it won’t take long.
1. Run Solflare
After installation, click on the Solflare icon in your browser’s Extensions to run the program.
At this point, you have three choices. You can either create a new wallet, import one (only if you already have a wallet), or create a new wallet using Ledger.
We’ll talk about Ledger later on, but for now, let’s stick to creating a new software wallet. Do this by clicking I NEED A NEW WALLET.
2. Secure your secret recovery phrase
Next, you need to write down your secret recovery phrase. Remember, this phrase is extremely important as it is the only thing that could recover your account in case something happens to your device. Keep it out of anyone’s eyes.
I would highly recommend you memorize it if possible. Alternatively, you may write it down on paper and store it somewhere safe. You can also store it digitally on different devices, but I highly recommend you encrypt each copy.
Once your recovery phrase is saved, click either Confirm or I SAVED MY RECOVERY PHRASE. You will be asked to input your recovery phrase next.
Type them and click CONTINUE.
3. Create a strong passcode
A passcode is different from your secret recovery phrase since you’ll only be using it to log into your wallet in your browser. If you lose your passcode, you’ll still be able to access your funds and create a new one as long as you have your recovery phrase.
After that, you’re done! Congratulations.
How to Add Money to Solflare
Now that you have a brand new wallet, it’s time to put some assets in it. But first, you need SOL as it is the fuel required to move funds across the Solana blockchain.
There are multiple ways to transfer cryptocurrencies into your Solflare address. If you already have an account on crypto exchanges like Coinbase or Binance, all you need to do is buy SOL there and withdraw them to your wallet address.
You can find your Solflare address by clicking RECEIVE in the browser app, then clicking COPY ADDRESS.
Paste that address when you withdraw your SOL from your respective exchange.
How to Buy Solana (SOL) on Solflare
Alternatively, you can buy SOL on Solflare via MoonPay.
First, you need to open the extension and click Buy, then you will be directed to the Moonpay page.
Input the amount you want to spend, then your email address, where it will send a verification code.
Be sure to check your email and input the code in the app, then click Continue.
Next, the app will ask for your basic information, such as your full name, date of birth, nationality, and address. Once that is done, the card will ask for your credit or debit card info. Next, click Continue.
Approve further confirmation prompts, and then you’re all set. You should receive your SOL in a minute.
Is Solflare Wallet Safe?
As one of the first, if not the first Solana wallet launched, Solflare has shown to be reliably secure, but that doesn’t make it completely safe. And truth be told, no protocol may ever be considering that hackers are just as ingenious as the developers that build decentralized systems, and they are always actively looking for new vulnerabilities to exploit.
This doesn’t mean Solflare isn’t a great choice. After all, it is the second-most popular SOL wallet next to Phantom. Firstly, it features an anti-phishing mechanism that alerts you before you can interact with a potentially malicious website. Moreover, it also has this so-called transaction simulation that enables you to view exactly what leaves your wallet before signing a transaction.
Lastly, it is a self-custodial wallet, which means that your private keys are encrypted and stored on your device, not by Solflare. This means that it is only as secure as you want it to be. Therefore, we recommend you always follow security best practices such as:
- Physically record your recovery phrase and store them somewhere safe.
- Never share your private keys with anyone (and I mean anyone!)
- Avoid clicking links or opening files from shady sources, whether on email or social media (a very common occurrence).
- Spread funds across multiple wallets, especially if you have large holdings.
- Use a burner wallet first when connecting with applications or web pages for the first time.
- Integrate your Solflare with a hardware wallet if you have the budget to buy one.
How to Use Solflare with Ledger?
This guide assumes that you already have a working Ledger wallet that has funds in it.
Connect your Ledger wallet to your computer
You can connect your Ledger to your computer via the USB port. Afterward, input your PIN-code and select the Solana app. The Application is ready message should display on the screen.
Connect Ledger to Solflare
Head over to Solflare’s website and click Access Wallet. Then select Continue with Ledger.
Open the Solana app and then click Continue. Your browser should prompt you that there is a device attempting to connect to Solflare.com. Click on the detected Ledger device and then click Connect.
Set passcode and derivation path
Next, create a passcode for your wallet. Solflare will then fetch accounts from Ledger and ask you to select a derivation path. Make sure you choose the one with SOL in it.
Enable Blind Signing
Now that your wallet is set, you need to enable blind signing in order to access the various dApps easily. However, know that blind signing comes at a security cost. We generally recommend you disable it after use.
For further instructions on how to activate blind signing, see Ledger’s article.
Solflare Supported Coins and Tokens
Solflare supports all tokens built on the SPL standard, which includes all assets that run on the Solana blockchain. This includes SOL, USDC, SRM, FTT, and likely several hundreds of other tokens, as well as NFTs built on the Metaplex standard.
Can Solflare Hold NFTs?
Yes, Solflare can hold Solana-powered NFTs.
How to stake on Solflare?
Solflare supports in-wallet staking, allowing users to stake while keeping their SOL in their wallets. Here are the steps:
Create a Staking Account
First, you need to open your Solflare app, click on the piggybank icon, then click EXPANDED VIEW. This will direct you to the staking webpage. Now click the Native SOL Staking tab then START STAKING.
Input the amount of SOL to be staked
Choose a Validator
You might want to do some research before choosing a validator. Check out Solanabeach for that. After you’ve chosen a validator, click Stake, then Confirm.
Afterward, you should receive a success message with the transaction ID, and then you’re all set!
How to Unstake on Solflare
Unstaking your SOL from Solflare is easy. All you need to do is click on the piggybank icon to view the Staking tab and then click UNDELEGATE. And that’s it! But note that you need to wait for a few epochs to pass in order to be able to use your tokens, which would approximately take 2-4 days.
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