Phantom Wallet Solana Fees Surprise: Low Costs, High Minimum Balances

The Phantom Wallet is one of the most popular choices for users in Germany looking to store their Solana (SOL) tokens. When sending SOL from an exchange to a wallet, users often wonder about fees and why the amount isn't quite the same afterwards.

A simple transfer on Solana costs 0.000005 SOL, which is equivalent to around 0.00052 euros at today's price of $118.60 per SOL. This low fee is one reason why applications running on Solana can be more affordable than those on other networks like Ethereum.

However, there's another important aspect to consider: the minimum balance required for a token account. On Solana, every token gets its own sub-account, and an empty account needs 650,240 lamports (0.00065024 SOL), while a token account occupies 165 bytes and requires 1,488,440 lamports (0.00148844 SOL).