Memecoins have taken crypto by storm—from DOGE and Shiba Inu (SHIB) to newer tokens such as PEPE, TRUMP, BONK, PENGU, WIF, and FARTCOIN. You've likely heard about them, but do you know the best place to trade them?
When it comes to trading memecoins, two apps stand out: Phantom and Moonshot.
While both cater to crypto enthusiasts, they serve distinct purposes and offer unique features.
In this guide, we’ll explore the key differences between Phantom and Moonshot and help you pick the app that’s right for you.
Quick comparison
Moonshot
- Simplifies the process of discovering and trading memecoins.
- Offers a self custodial wallet for user-controlled funds.
- Provides real-time market insights specific to memecoins.
Phantom
- Self-custody wallet to manage a wide range of cryptocurrencies and NFTs.
- Allows interaction with various apps across Solana, Bitcoin, Ethereum, Base, Sui, and Monad.
- Features enhanced security measures, including scam detection and Ledger integration.
What is Moonshot?
Moonshot is an app designed to simplify the discovery and trading of memecoins on Solana.
Key features of Moonshot
- User-friendly interface: Moonshot offers an intuitive design, ensuring both beginners and experienced traders can navigate its app with ease.
- Real-time insights: Moonshot provides up-to-date market data, including charts, market cap, trading volume, all-time highs, and circulating supply, keeping you informed about trends and opportunities.
- Diverse payment options: Through the partnership with MoonPay, you can purchase memecoins using credit and debit cards, Apple Pay, Google Pay, PayPal, and bank transfers.
- Self-custodial wallet: Moonshot offers a self custodial wallet, ensuring you maintain full control over your funds and transaction approvals, enhancing security.
Phantom vs Moonshot: Comparative analysis
While both apps serve memecoin traders, they have different core functionalities.
Primary focus
- Moonshot: Functions as a dedicated trading app with an embedded self-custodial wallet, enabling you to discover and trade memecoins on Solana.
- Phantom: Primarily a self-custody crypto wallet that supports native memecoin, token, and NFT trading while also enabling you to connect with other apps on multiple blockchains, such as Solana, Bitcoin, Ethereum, Base, and Sui.
Supported blockchains
- Moonshot: Exclusively supports Solana, which limits trading opportunities across blockchains.
- Phantom: Offers multichain support, enabling you to manage assets across Solana, Bitcoin, Ethereum, Base, Sui, and Monad, providing more flexibility for diverse portfolios and operations.
Ecosystem connectivity
- Moonshot: Functions as a standalone app and cannot connect to other apps on Solana.
- Phantom: As a traditional crypto wallet, Phantom connects seamlessly to major apps such as Jupiter, Raydium, Kamino, Drift, and more.
Trading fees
- Moonshot: Fees vary based on trade size. For transactions between $1 and $250, Moonshot charges a 2.5% fee, with a minimum fee of ~$0.40. For trades exceeding $250, the fee is reduced to 1%, making it more cost-effective for higher-value transactions.
- Phantom: Phantom’s in-wallet swap feature typically applies a flat 0.85% fee per trade, regardless of the transaction size. This makes Phantom an attractive option for users seeking lower, predictable fees across different trade values.
Staking capabilities
- Moonshot: Primarily focuses on memecoins and does not offer staking capabilities.
- Phantom: Enables you to stake crypto directly within the wallet to earn rewards. Learn more.
NFT support
- Moonshot: Focuses solely on memecoins and does not support NFTs.
- Phantom: Fully supports NFTs, enabling you to buy, sell, store, and manage your NFT collections within the wallet.
Crypto accessibility
- Moonshot: Available only as a mobile app on the App Store and Google Play Store.
- Phantom: Available as a browser extension for Chrome, Brave, and Firefox, as well as a mobile app for iOS and Android, offering multiple ways to access the crypto ecosystem.
Data privacy
- Moonshot: When signing up for Moonshot, you’re required to create an account linked to a self-custody wallet.
- Phantom: In contrast, Phantom enables you to set up a wallet without providing personal details, making it a more privacy-focused option for users who prefer minimal data collection. However, you can also create and set up a Phantom wallet with Google or Apple and a four-digit PIN.
Payment options
- Both Moonshot and Phantom support memecoin purchases using credit and debit cards, Apple Pay, Google Pay, PayPal, and bank transfers. Learn more.
Asset security
- Moonshot offers self-custodial wallets under the hood, while Phantom is a self-custodial wallet, meaning you always have full control over your private keys and funds.
- Phantom also offers additional enhanced security features, including scam detection, phishing protection, and hardware wallet integration (e.g. Ledger).
Phantom vs Moonshot: Which app should you use?
The choice between Phantom and Moonshot depends on your specific needs.
Choose Moonshot if you:
- Trade memecoins only on Solana.
- Want a dedicated, user-friendly app optimized for memecoin discovery.
- Prioritize real-time market insights tailored to memecoins.
Choose Phantom if you
- Trade and manage memecoins, conventional tokens, and NFTs, on Solana, Ethereum, Base, and other blockchains.
- Want to connect to apps for swapping, staking, or other DeFi activities.
- Prioritize security and flexible access across devices.
Buying memecoins with Phantom
- Download Phantom and create a new wallet
- Fund your Phantom wallet
- Log in to your Phantom wallet
- Select "Swap" and the token (e.g. SOL or USDT/C) you'd like to use in the swap
- Next, select the drop-down menu in the "You receive" section, and then either paste the CA of the memecoin or type its name into the search bar
- After selecting the memecoin, finalize your swap
How to share memecoins with friends and family
Know someone who might be interested in memecoins? You can share a simple token page with them so they can get involved!
Here's how:
- Open Phantom
- Search and select a memecoin
- Click the “Share” button
- Copy the link
- Send the link through your preferred app, such as iMessage, Telegram, Instagram, or others
When you share one of these links, the recipient will receive an official Phantom memecoin token page.
How to bridge tokens to Solana with Phantom?
If you’d like to bridge funds to Solana, use our very own Crosschain Swapper. With our Crosschain Swapper, you can bridge tokens across Solana, Ethereum, Base, and Sui right in your Phantom wallet.
Disclaimer: This guide is strictly for educational purposes only and doesn’t constitute financial or legal advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.
