You may be looking to send BTC to your Phantom Wallet. However, you can’t send over the native BTC, as your Phantom Wallet only supports SOL deposits!
This is similar to how the Binance Smart Chain has a BEP20 version of BTC which is different from native BTC.
Here’s what you need to know about this process.
How to transfer BTC to Phantom Wallet
Here are 5 steps you’ll need to transfer BTC to your Phantom wallet:
- Buy BTC on a platform that enables BTC withdrawals via the SOL network
- Obtain the BTC withdrawal address on your Phantom Wallet
- Paste the withdrawal address on the platform of your choice
- Withdraw BTC via the SOL network to Phantom Wallet
- Receive BTC in your Phantom Wallet
Buy BTC on a platform that enables BTC withdrawals via the SOL network
To send BTC to your Phantom Wallet, you will need to purchase BTC on a platform that offers SOL withdrawals.
Currently, only FTX allows SOL withdrawals of BTC.
Obtain the BTC withdrawal address on your Phantom Wallet
After buying BTC on the platform of your choice, you will need to obtain the deposit address of your Phantom Wallet.
You can go to ‘Deposit‘,
and then search for ‘BTC‘.
You will see the deposit address that you can use to transfer from the platform of your choice to Phantom Wallet.
The deposit address is actually the same as when you are depositing USDT, ETH or USDC.
If you are finding it hard to remember all of these long deposit addresses, you may want to consider simplifying them using Unstoppable Domains.
This allows you to send crypto to a .crypto or .wallet address, which makes it much easier to transfer cryptocurrencies between platforms!
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 BTC.
FTX supports BTC withdrawals using either the native BTC network or Solana (SPL).
Withdraw BTC 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.
This is because the Phantom Wallet only supports SOL network deposits. If you transfer your BTC to Phantom Wallet via the native ERC20 network, your BTC may be lost forever!
Receive BTC in your Phantom Wallet
After the transfer has been initiated, you will receive BTC in your Phantom Wallet.
Transfers on the SOL network are much faster than the native BTC network, and you should receive your BTC rather quickly!
Conclusion
When you are transferring BTC to your Phantom Wallet, you will need to make sure that you are sending it via the SOL network.
As such, it would be good to check that the platform that you’re using to buy BTC supports SOL withdrawals, and not just native BTC withdrawals!
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