If you trade on fomo, each buy or sell of a token is usually a swap from one crypto asset to another. In many countries, including the US and the UK, that swap counts as a taxable disposal. Doing fomo taxes therefore means accounting for every swap, not just the times you cashed out.
Everything you do on fomo is recorded on-chain. Add your fomo wallet addresses to Kryptos and it pulls the full history, matches cost basis and calculates your gains and losses, alongside every other wallet and exchange you use. One report, not several.
What you get out of the box
How fomo wallets work
fomo (fomo.family) gives you a crypto wallet built into the app the moment you sign up. Under the hood it is generated and managed by Privy, a third-party wallet provider (fomo Terms of Service, section 6). Your address and transactions are recorded on each blockchain, which is what lets Kryptos rebuild your history from the address alone.
fomo supports trading on Solana, Base, BNB Chain and Monad (fomo security overview). Kryptos supports all four. You can export your private key from fomo, but Kryptos never needs it: a public address is enough, and you should not share a private key with any tax tool.
Are fomo trades taxable?
In the US and the UK, yes. Swapping one token for another is a taxable disposal even if you never cash out to dollars or pounds.
- United States: exchanging digital assets for other digital assets produces a gain or loss equal to the difference between what you received and your basis (IRS digital asset FAQ, Q66), reportable regardless of amount or whether you get a payee statement (Q108). Moving tokens between your own wallets is not taxable, except tokens used to pay fees (Q81). See the USA crypto tax guide.
- United Kingdom: a disposal includes exchanging tokens for a different type of token (HMRC CRYPTO22100). Moving tokens between wallets is not a disposal while you keep beneficial ownership. See the UK crypto tax guide.
What this means for memecoin taxes: every time you buy a memecoin with SOL, ETH or a stablecoin you dispose of what you paid with, and every time you sell you dispose of the memecoin. Active traders can reach hundreds of taxable events a year without ever withdrawing to a bank. Rules differ elsewhere; Kryptos applies the rules for the country you select, and anything unusual is worth checking with a tax adviser.
How to do your fomo taxes with Kryptos
- Find your fomo wallet addresses. In the fomo app, open the screen where you deposit funds and copy your Solana address and your EVM address for Base, BNB Chain and Monad.
- Add them to Kryptos. Sign up or log in, choose to add a wallet, and paste each address.
- Add everything else. Connect your other wallets and exchanges so transfers in and out of fomo are matched rather than read as income or sales.
- Review and download your report. Check anything Kryptos flags, then download the tax report for your country. You can also estimate what you owe first.
Why one report beats a fomo-only report
A report built from one app only sees that app, and your return has to cover all of your crypto. If you bought SOL on an exchange and sent it to fomo, the cost basis lives on the exchange, so a fomo-only report cannot know what that SOL originally cost. Withdrawals out of fomo are not sales either, and a tool that cannot see the receiving wallet may treat them as one.
Prêt pour l'audit, automatiquement.
Une fois vos wallets et plateformes connectés, générer un rapport fiscal ne prend qu'un clic. Ouvrez Rapports dans le menu, choisissez votre juridiction et téléchargez.
Token swaps are disposals
A memecoin bought with SOL is two sides of one trade: you dispose of the SOL and acquire the token. Both sides need a cost basis, which is why reading the chain matters more than counting withdrawals.
Dead memecoins are not automatic losses
A token that fell to near zero is not automatically a loss on your return. How and whether you can claim it depends on your country, so flag these for review rather than writing them off.
Your own transfers are not sales
Moving tokens between wallets you own is not a disposal in the US or the UK. Add every wallet you hold so Kryptos matches the transfer instead of recording a sale.
Lecture seule par conception.
- Kryptos needs only your public wallet address, never a private key or seed phrase
- No fomo login or OAuth connection is required
- Kryptos is not affiliated with fomo and reads only public blockchain data
Si la synchronisation échoue.
The tokens probably arrived from an exchange or wallet you have not connected yet. Add that source so Kryptos can trace where they came from.
fomo trades on four chains. If you traded on Solana and Base but only added one address, the other chain's history is absent. Add an address for every chain you used.
Add the wallet you sent funds to. Once both sides are in Kryptos the transfer is matched and no disposal is recorded.
Toujours bloqué ? Écrivez à support@kryptos.io ou ouvrez le chat en direct depuis l'application.
FAQ
Does fomo report my trades to the tax authority?
That depends on where you live and on fomo's own obligations. In the US you must report taxable transactions whether or not you receive a tax form (IRS digital asset FAQ, Q108). Keeping your own records is the safe assumption.
Do I need to give Kryptos my private key to import fomo?
No. Kryptos only needs your public wallet addresses, which are enough to read your history from each blockchain. Never share your private key or seed phrase with any tax tool.
Which chains does the fomo import cover?
All four chains fomo supports: Solana, Base, BNB Chain and Monad. Kryptos has an integration for each, so one wallet address per chain is all you need to add.
Is Kryptos affiliated with fomo?
No. Kryptos reads your fomo activity from public blockchain data using the addresses you provide. There is no partnership, and you do not log in to fomo through Kryptos.
I moved funds from fomo to another wallet. Is that taxable?
In the US and the UK, moving tokens between wallets you own is not a disposal (IRS Q81, HMRC CRYPTO22100). Add both wallets to Kryptos so the transfer is matched instead of being read as a sale.