The native Solana token (SOL), known as wrapped SOL (wSOL), is wrapped in a different way. Users can transfer tokens between blockchains by wrapping them. Here, we examine the breakdown of how to change wrapped SOL tokens back to their original SOL token form.
How to Convert Wrapped SOL (WSOL) to SOL
Using a reliable Solana wallet like Phantom is the safest way to convert WSOL to SOL tokens. Users can seamlessly convert Wrapped SOL to SOL or SOL into Wrapped SOL thanks to a built-in feature in their wallet. You can get started in minutes with our guide below:
- Launch the Phantom Wallet browser add-on.
- Open your wallet and look for the Wrapped Solana (WSOL) asset.
- Click on the “…” icon in the top right of your wallet.
- Click “Unwrap All” and the SOL will be automatically converted from WSOL tokens.
What is Wrapped SOL Vs SOL Token?
The digital currency Solana (SOL) is available as a token called Wrapped SOL (WSOL). Users can trade and use the Solana network with this token without having to pay any transaction fees for sending or receiving SOL tokens on the blockchain. By using a trusted wallet like Phantom, wrapped SOL can be converted from the native SOL token.
The Solana blockchain is the foundation for the decentralized cryptocurrency SOL. For trading, staking, and other financial services offered on the network, this token is used. When sending or receiving tokens on-chain, SOL tokens must cover the associated fees.
Is Wrapped SOL Same as SOL?
Native SOL and Wrapped SOL are not the same because they possess different technical capabilities, despite the fact that they have the same value (under most circumstances). Wrapped SOL tokens are a representation of SOL tokens on the Ethereum blockchain that are created to enable SOL token use in the Ethereum DeFi ecosystem. Native SOL tokens only exist on the Solana blockchain and are not compatible with the Ethereum blockchain.
Is It Safe to Use Wrapped SOL?
Yes, using Wrapped SOL to communicate with the Solana network is safe and secure. In order to prevent price manipulation and fraud, wrapped tokens are backed 1:1 with actual Solana (SOL) tokens and are audited frequently. The fact that Phantom wallets are developed using well-established security protocols further improves user safety when converting WSOL to SOL tokens.
Is There a Fee for Converting Wrapped SOL to SOL?
Yes, there are very small fees involved in changing from Wrapped SOL to SOL. This is because the Solana blockchain has much lower network fees than other protocols like Ethereum.
Wrapped SOL Phantom
With a Phantom Wallet, you can quickly change wrapped SOL tokens into regular SOL if you have any. Just open your Phantom Wallet, click on the “Wrapped SOL” tab, and then click the 3 buttons in the top right corner and select the “Unwrap All” option. Your wrapped SOL tokens can become regular SOL and be seen in your wallet for a small fee.
Can I Send Wrapped SOL to Coinbase?
No, Wrapped Solana (W-SOL) is not supported by Coinbase. However, as was already mentioned, using Phantom Wallet, you can easily unwrap your Wrapped SOL before sending your native SOL to Coinbase.
The Bottom Line
The process of converting Wrapped SOL to SOL token is simple and inexpensive. Users can easily switch from WSOL to Phantom and back again while not having to be concerned about transaction security or exorbitant fees.
