Backpack Wallet is a self-custodial, multichain wallet that scores 8.0/10 and has the cheapest swaps of the big Solana wallets: it says it charges no wallet fee on swaps or bridges. It also supports Ledger, Trezor and Keystone and uses Blockaid to flag malicious transactions. The trade-offs are fewer Solana-specific extras than Phantom and close ties to an exchange and token business.
Risk notice: Crypto trading is high risk and memecoins can go to zero in minutes. Backpack's app and extension are hot wallets unless paired with a hardware device. This page is not financial advice; only trade what you can afford to lose.
Facts on this page were checked October 23, 2026, from Backpack's own docs and the sources linked below. This is a research-based review built from published docs, not a hands-on trial.
What Backpack Wallet is
Backpack Wallet is a self-custodial wallet for iOS, Android and browser extension (Backpack). It was built by Coral, the company founded by Armani Ferrante, a former Alameda engineer, which developed the Backpack trading and wallet tech stack (The Block).
The exchange, briefly. The same team runs Backpack Exchange, a centralized exchange that bought FTX EU in January 2025 with approval from Cyprus regulators (The Block), and launched a BP token on March 23, 2026, with 1% of supply going to holders of its Mad Lads NFTs (KuCoin News). The exchange is custodial; the wallet is not. This review covers the wallet.
Backpack wallet fees
As of October 2026:
- Swaps and bridges: Backpack says "Backpack charges zero fees" on swaps and bridges made through Backpack Wallet, on every supported network, with "no markups, no hidden costs" (Backpack, March 10, 2026).
- What you still pay: blockchain network fees, price impact and any fees charged by the underlying DEX pools or bridges. The post doesn't list minimum amounts or excluded tokens.
- Wallet: free to download and use.
For comparison, Phantom's fee page lists 0.85% (Phantom) and MetaMask charges a 0.875% service fee (Coin Bureau). On a $1,000 swap, that's $8.50 at Phantom against $0 in wallet fees at Backpack (our arithmetic). Zero fees can change, so check the quote before each swap.
Supported chains
Backpack's March 2026 post lists 14 networks (Backpack):
- Solana
- Ethereum, Base, Arbitrum, Optimism, Polygon, BNB Chain
- Sui, Aptos, Monad, Sei
- Plasma, HyperEVM, Berachain
That's the widest network list of the four wallets in our best Solana wallet ranking. Phantom has nine; Solflare and Jupiter Mobile are Solana-only.
Hardware wallet support
Backpack says it supports Ledger, Trezor and Keystone, and calls itself "one of the few hot wallets that supports three hardware wallet brands simultaneously" (Backpack). It also mentions multi-signature setups across hardware vendors.
Trezor's own page confirms Backpack works with the Trezor Safe 3, Safe 5 and Safe 7 for Solana (Trezor). Its guide covers pairing through the Chrome extension, where Backpack opens as a separate popup; you can send, receive and stake SOL with each transaction confirmed on the device (Trezor guide). On Trezor Model One, only Ethereum mainnet pairing is supported.
As with any Solana hardware setup, Ledger users usually need blind signing on for token and smart-contract transactions, which means the device can't display everything you approve (Solflare docs on Ledger).
Security features
- Blockaid transaction simulation. Backpack uses Blockaid to simulate transactions in under 300 ms and show whether a transaction looks dangerous before you sign (Blockaid, November 2024).
- Malicious dApp detection. Blockaid scans new domains and says it can flag drainer sites built from kits such as Endless and Riddance "as early as 24 hours before they are first used in an attack."
- NFT locks. Backpack lets you lock collections to block unauthorized transfers (Backpack).
- Self-custody. Backpack holds no keys for the wallet; losing your recovery phrase means losing access.
Track record and phishing
We found no reported exploit of Backpack Wallet's own code as of October 2026. The risk, as with every wallet, is fake sites. PhishDestroy flagged backpackwallet[.]xyz as a critical Solana drainer page in April 2026, registered a day before it was detected (PhishDestroy). Backpack's real wallet site is backpack.app.
Extensions themselves can be a target too. Trust Wallet's Chrome extension version 2.68 leaked recovery phrases in December 2025, with about $7 million lost (Bitdefender). That incident wasn't Backpack's, but it's a reason to keep large balances behind a hardware wallet.
How to stay safe:
- Install only from backpack.app or the official app stores.
- Never enter your recovery phrase on a website or in a "support" chat.
- Don't connect to "claim" or airdrop sites, including ones that use the BP token or Mad Lads as bait.
- Keep bot and terminal wallets separate from your main wallet (Telegram trading bot security).
- If you've already signed something bad, follow Solana wallet drained: what to do.
Pros and cons
Pros
- 0% wallet fee on swaps and bridges
- Ledger, Trezor and Keystone
- Blockaid simulation and malicious-dApp warnings
- 14 networks in one wallet
Cons
- Tied to a centralized exchange and token business
- Fewer Solana-native extras than Phantom or Solflare, and less app-store share
- Lookalike drainer domains have been flagged
- "Zero fee" is a policy that can change
Backpack vs other Solana wallets
| Wallet | Wallet swap fee | Chains | Hardware |
|---|---|---|---|
| Backpack | 0% | 14 | Ledger, Trezor, Keystone |
| Phantom | 0.85% | 9 | Ledger |
| Solflare | Not published | Solana only | Ledger, Keystone, Shield |
| Jupiter Mobile | 0%-0.5% | Solana only | Ledger, Trezor |
Phantom and Solflare are compared head-on in Phantom vs Solflare.
Verdict
Backpack is the wallet to pick if you swap a lot, hold assets on several chains, or own a Trezor. Phantom still ranks higher in our list for app support and its in-house scam tooling, but Backpack's 0% wallet fee and three hardware brands make it a strong second wallet or main wallet. Over time, old trading wallets collect empty token accounts holding rent (Solana rent explained); check yours read-only with the SOL reclaim estimator. Active memecoin traders may prefer a terminal; see best Solana trading app.
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