Crypto Invest

5 Steps To Transfer USDC To Phantom Wallet

Transfer USDC To Phantom Wallet

Last updated on November 30th, 2021

Sending USDC to your Phantom Wallet allows you to perform liquidity mining on Raydium.

However, the Phantom Wallet only supports the SOL version of USDC, and not the ERC20 version which is commonly found on most platforms.

Here’s what you need to know about this process.

How to transfer USDC to Phantom Wallet

Here are 5 steps you’ll need to transfer USDC to your Phantom wallet:

  1. Buy USDC on a platform that enables USDC withdrawals via the SOL network
  2. Obtain the USDC withdrawal address on your Phantom Wallet
  3. Paste the withdrawal address on the platform of your choice
  4. Withdraw USDC via the SOL network to Phantom Wallet
  5. Receive USDC in your Phantom Wallet

Buy USDC on a platform that enables USDC withdrawals via the SOL network

To send USDC to your Phantom Wallet, you will need to purchase USDC on a platform that offers SOL withdrawals. Here are some platforms that you can use:

PlatformWithdrawal
Fees (SOL)
FTX0 USDC
Binance1 USDC
Crypto.com0.9 USDC
AAX2 USDC
OKEx0.8 USDC
Gate.io2 USDC

FTX may be the best option as they have the lowest trading fees (up to 0.07%). Furthermore, they offer free withdrawals on the SOL network as well.

Obtain the USDC withdrawal address on your Phantom Wallet

After buying USDC on the platform of your choice, you will need to obtain the deposit address of your Phantom Wallet.

You can go to ‘Deposit‘,

Phantom Wallet Select Deposit

and then search for ‘USDC‘.

Phantom Wallet Search USDC

You will see the deposit address that you can use to transfer from the platform of your choice to Phantom Wallet.

Phantom Wallet Deposit USDC Address

Paste the withdrawal address on the platform of your choice

Once you’ve obtained the address to send to, you’ll need to go to the platform of your choice to send your funds.

In this example, I will be using FTX.

On FTX, you’ll need to go to ‘Wallet‘, and then select the currency that you wish to withdraw.

FTX Choose Currency To Withdraw

To withdraw USDC, you will need to select USD first, and then ‘Withdraw USDC‘.

FTX Select USDC Withdrawal

FTX supports USDC withdrawals on both the ERC20 and SOL networks.

FTX Enter USDC Withdrawal Details

Withdraw USDC via the SOL network to Phantom Wallet

For the deposit address, you will need to paste the address that you’ve obtained from your Phantom Wallet.

Afterwards, you’ll need to select Solana SPL as the network that you’ll use to withdraw.

FTX Withdraw Via Solana Network

This is because the Phantom Wallet only supports SOL network deposits. If you transfer your USDC to Phantom Wallet via the ERC20 network, your USDC may be lost forever!

Receive USDC in your Phantom Wallet

After the transfer has been initiated, you will receive USDC in your Phantom Wallet.

USDC Phantom Wallet Deposit

Transfers on the SOL network are much faster than ERC20, and you should receive your USDC rather quickly!

Conclusion

When you are transferring USDC to your Phantom Wallet, you will need to make sure that you are sending it via the SOL network. This is similar to how you’d withdraw ETH or USDT to your Phantom Wallet as well.

As such, it would be good to check that the platform that you’re using to buy USDC supports SOL withdrawals, and not just ERC20 withdrawals!

👉🏻 Referral Deals

If you are interested in signing up for any of the products mentioned above, you can check them out below!

FTX Referral (5% trading fee discount)

If you are interested in signing up for an FTX account, you can use my referral link.

You will receive a 5% trading fee discount for any trades that you make.

FTX Referral Trading Fee Discount

Binance Referral (Receive 5% off your trading fees)

If you are interested in signing up for a Binance account, you can use my referral link.

You will be able to receive 5% off all of your trading fees on Binance!

Crypto.com Referral (Get up to $45 USD worth of CRO)

If you are interested in signing up for a Crypto.com account, you can use my referral link and enter the code ‘x2kfzusxq6‘.

Here’s how you can get up to $45 USD worth of CRO in your Crypto Wallet:

TaskCRO Reward
Stake enough CRO to unlock a Ruby
Steel Crypto.com Visa Card or higher
USD $25
Spend a minimum of USD 100
for your first transaction
with the Crypto.com Visa Card
USD $10
Buy/sell a total of USD 500 of crypto
in the Crypto.com App within
30 days after you pass KYC
USD $10

You will need to stake enough CRO (in the equivalent amount in your home currency) to unlock a Ruby Steel card or higher.

You can read more about the referral program on Crypto.com’s website, and the additional referral bonuses here.

AAX Referral (Receive up to $50 USDT worth of rewards)

If you are interested in signing up for an AAX account, you can use my referral link.

Here’s what you need to do to receive this reward:

  1. Sign up for an AAX account
  2. Complete level 1 KYC on the platform
  3. Generate 10,000 USDT in trading volume on the spot or futures markets + deposit 500 USDT via P2P, Quick Buy and Sell, cash deposit or crypto deposit

Once you have completed the criteria above, you will be able to receive 50 USDT in rewards.

You can view more about this promotion on AAX’s website.

OKEx Referral (Receive USD $10 of BTC)

If you are interested in signing up for an OKEx account, you can use my referral link. If you make a crypto purchase of ≥ $100 USD via Buy / Sell, we will both receive USD $10 worth of BTC.

Here’s what you need to do:

  1. Sign up for an OKEx account
  2. Go to Buy/Sell to buy crypto from a variety of methods (e.g. Credit Card or PayNow)
  3. Buy ≥ $100 USD worth of crypto
  4. Receive $10 USD worth of BTC in your OKEx account

If you use OKEx’s Buy/Sell feature, you will be buying your crypto from a 3rd-party payment provider.

OKEx Credit Card Payment Providers

The fees may vary, but the $10 USD credit should be able to help to pay for your trading fees!


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