What is Solflare?

Solflare offers a multi-platform wallet that’s simple for new users but powerful enough for active traders. It supports hardware wallets like Ledger, lets users stake SOL directly, and even includes in-app swaps and portfolio tracking.

Why Solflare Matters

Solflare has been growing since it was launched because of many improvements and a security-first approach to asset management on Solana. The following are why users have been a fan of the wallet provider:

1. Native staking with validator selection
2. NFT support, including previews and metadata
3. Solana Pay integration for payments
4. In-app swaps powered by Jupiter
5. Mobile onboarding for easier UX

Solflare for DeFi and NFTs

From popular DEXes like Raydium to Collectibles marketplaces like Magic Eden, Solflare connects directly to most dApps on Solana. It automatically detects your token balances, LP positions, and NFT holdings. And for those serious about staking, Solflare provides APY estimates and validator data before you delegate to a particular validator. 

Security First

Solflare offers Ledger support, optional 2FA via Torus for social login users, and transaction previews before signing. These are highly important features in an environment where scams, hacks and fake transactions are common.

How to Set Up Solflare Wallet

Solflare wallet is available on both browsers and mobile devices. It gives you access to your funds wherever you are. The browser extension works with Chrome, Firefox, Brave, and Edge, while the mobile app supports both iOS and Android operating systems.

Download the Solflare Browser Extension

1. Go to Solflare, scroll down and select your browser as provided on the website
2. Select “Add to Browser” to install the Solflare extension. (Mine was Add to Brave because I use the browser.)

Select “I need a new wallet” to generate a new wallet on the Solflare application, but for an existing wallet, click on “I already have a wallet”. For existing wallets, users input their recovery phrase or private key to access the wallet through Solflare. Choosing to create a new wallet will display the page shown below.  

Save the recovery phrase, and input it into the boxes displayed next. 

Next, create a password. This prevents unauthorized access to your wallet if someone accesses your computer. Choose a strong password to prevent easy access.

The Solflare homepage provides an interface for sending and receiving crypto and NFTs, staking SOL and swapping tokens in the application. 

Depositing funds into the Solflare wallet

You can deposit into Solflare by buying crypto directly in the wallet. Select the “Buy” button to purchase SOL or USDC using TransFi, Moonpay or other payment platforms available in your region. 

You can also transfer cryptocurrencies from another wallet (on the Solana network) that has some SOL or USDC.  

Sending and Receiving Cryptocurrencies

To Send Crypto

1. Tap “Send” on the right side of your wallet’s home screen.
2. Choose the token you want to send or tap the asset directly, then select “Send.”
3. Enter the recipient’s wallet address.
4. Input the amount you want to send and tap “Next.”

Review the transaction details and confirm by tapping “Send.”

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To Receive Crypto

1. On your wallet’s home screen, tap “Receive.”
2. Use the QR code button or click “copy address” to copy your wallet address.
3. Share the code or address with the sender to receive funds.

Swapping through Solflare 

With Solflare, it is easier to swap tokens directly in the wallet without connecting manually to a decentralized exchange. 

To do this:

1. Choose the tokens to exchange
2. Enter the amount, double-check the details of the transaction, such as the price and slippage 
3. Click “Swap” to complete the transactions.

Staking on Solflare

Solflare makes SOL staking very straightforward for users (especially new Solana users). With Solflare, staking directly from the wallet is made possible. It provides a more friendly experience for users to stake with their favourite validators without searching hard for the links to the validator. From the example below, I just searched for “Bandito Stake” and by clicking on it, I can stake from Solflare. Stake with Bandito today!

Using the Solflare Mobile App

Since the focus of this article is on the browser extension, there remains the Solflare mobile application that is equally important for the Solana user. Download the Solflare application for iOS here and Android here.

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