If you’ve received wrapped sol tokens from a friend, or would like to send some to yourself, you can easily convert them into Solana (SOL) using a phantom wallet. The process is fast and secure, with minimal fees.
How to Convert Wrapped SOL To Solana
First, you’ll need a crypto wallet that supports Solana and can provide you with a seed phrase. These can be found on any wallet’s support page or in the app settings. Next, connect the crypto wallet to a decentralized exchange (DEX) using your Binance account to buy the base currency.
Once you have the base currency, it’s time to buy Solana with that coin. Follow our step-by-step guide below to learn how to buy Solana on Binance and get your tokens.
How to Use WSL Tokens
Once your wallet is set up, you can start sending WSL tokens to your Solana-compatible wallet. However, it’s important to note that you can only send these tokens to other Solana-compatible wallets and not to a normal Solana crypto wallet address.
Unlike a traditional token, WSOL is backed by a true Solana token and is audited regularly to ensure it has not been manipulated. Phantom wallets are built on established security protocols and use high levels of authentication to increase user safety when converting WSOL to SOL tokens.
How to Create an Associated Token Account
To receive any kind of SPL Token, a user must have an associated token account on the Solana network. This can be done through a token airdrop campaign or through the creation of the account by a wallet on the user’s behalf.
When creating the associated token account, a small amount of SOL is needed to mark the account as rent-exempt, which makes it available for receiving tokens on the Solana network. Once the associated token account has been created, it’s not possible to withdraw that SOL from it without creating a new token account for the recipient.
How to Transfer SOL To Ancillary Token Accounts
When a token is transferred to an ancillary token account, the native Mint reclaims the SOL in the associated token account and transfers it back to the user’s native mint account. The user can then use that token to send other tokens to that ancillary account.