The short answerBackpack is one of the best-built Solana wallets: fast, clean multi-account management and an open-source core client. It is also the front door to an exchange run by the same company, so users should stay clear about which balances are self-custodial and which are not.
Best forSolana power users who want xNFT support
Key handlingweight 25%
8.0avg 8.5
Audits & opennessweight 20%
7.5avg 8.0
Transaction transparencyweight 20%
8.0avg 8.1
Coverageweight 15%
7.5avg 7.6
Recoveryweight 10%
7.0avg 7.8
Usabilityweight 10%
9.0avg 8.2
this service category average across 15Score = Σ mark × weight. Works well for a specific use case, weaker outside it. Methodology.
| Criterion | Mark | What we found | Source | Checked |
|---|
| Key handling | 8.0 | not sourced yet | not sourced yet | — |
| Audits & openness | 7.5 | not sourced yet | not sourced yet | — |
| Transaction transparency | 8.0 | not sourced yet | not sourced yet | — |
| Coverage | 7.5 | not sourced yet | not sourced yet | — |
| Recovery | 7.0 | not sourced yet | not sourced yet | — |
| Usability | 9.0 | not sourced yet | not sourced yet | — |
What we liked, and what fell short
Liked- Excellent Solana support with a modern, fast interface
- Multiple wallets and chains managed cleanly in one app
- Open-source core client
Fell short- Tight coupling to the company's own exchange blurs custodial boundaries
- Younger product with a shorter security track record
Why the marks landed where they did
As a wallet, Backpack is genuinely good. Multi-account handling is the cleanest on Solana, the interface is fast on both desktop and mobile, xNFT support enables applications to run inside the wallet, and the core client is open source.
The exchange adjacency
The same company operates Backpack Exchange, and the products are deliberately integrated. That convenience is real and so is the confusion risk: an interface that shows self-custodial balances alongside exchange balances makes it easy to forget which funds you control with keys and which you hold as a claim on a company. Keep the distinction explicit in your own accounting.
Security and record
Non-custodial key handling with hardware wallet support, no incidents on record, and audits of the core components. The product is younger than Phantom and has a correspondingly shorter track record, which is the main reason it scores slightly lower on that criterion.
Coverage
Solana primarily, with Ethereum and EVM support added. It remains a Solana-first product and is strongest there.
Who should use it
Solana users who want excellent account management and are comfortable with the exchange relationship. Users who prefer their wallet vendor to have no exchange business should use Phantom or a hardware wallet with Solflare.
FAQ
Is Backpack self-custodial?+
The wallet is. Backpack Exchange, run by the same company, is custodial — the integration makes it important to know which balances are which.
What are xNFTs?+
Applications that run inside the Backpack wallet as executable NFTs, an idea unique to this product and used by a limited set of applications.
Is Backpack open source?+
The core client is published, which allows review of key handling — better than closed alternatives, though the ecosystem around it is less transparent.
Backpack or Phantom?+
Phantom for the longer record and no exchange adjacency; Backpack for better multi-account management and a faster interface.
