Fomo vs Phantom (2026): fees, wallet and safety

Fomo vs Phantom: pick Fomo if you want to buy memecoins fast on your phone, with Apple Pay and a social feed; pick Phantom if you want one self-custody wallet for 9 chains with a seed phrase you control. On Solana, Phantom’s 0.85% swap fee costs less below about 112 USDC per trade, and Fomo costs less above it.

Quick summary

• Fomo wins on a first buy with Apple Pay, no seed phrase, paid Solana gas, lower fees on large trades and its social feed.
• Phantom wins on chain coverage, key control, Ledger, DEX access and lower fees on small Solana trades.

Read the full Fomo review and Phantom wallet review.

Fees

Fomo publishes its fees in its help center (opens in a new tab). On EVM chains (Base, BNB Chain, Monad, Ethereum, Robinhood Chain and Arc), you pay 0.50% per trade plus network fees. On Solana, Fomo pays the gas, and the fee on the lowest-fee route depends on the trade size: 0.10 USDC under 5 USDC, 2% from 5 to 47.50 USDC, 0.95 USDC flat up to 190 USDC, and 0.50% from 190 USDC. Majors in the Crypto tab, such as BTC, ETH and SOL, cost 0.05%.

Phantom charges 0.85% on most swaps, plus the network fee, according to its swap help page (opens in a new tab). If you have no SOL for gas, Phantom can do a gasless swap and takes a flat fee from the token you trade.

Fee example on Solana

This is simple math on the published fees, before referral discounts. Phantom’s Solana network fee is not included; Fomo pays the gas.

• Break-even: on Solana, the two fees are equal at about 112 USDC per trade. Below it, Phantom costs less. Above it, Fomo costs less.
• On EVM chains: Fomo’s 0.50% is lower than Phantom’s 0.85% at every trade size, and you pay network fees on both. A 100 USDC buy on Base costs 0.50 USDC on Fomo and 0.85 USDC on Phantom.
• With code Iocke: Fomo’s standard 0.50% becomes 0.45% (Fomo referral help (opens in a new tab)). The code works only on the signup screen. Phantom runs its own in-app referral program; we have not joined it.

To run your own numbers, use our fee calculator.

Chains

• Fomo: 7 chains from one cash balance, with no bridging: Solana, Base, BNB Chain, Monad, Ethereum, Robinhood Chain and Arc (Fomo supported chains (opens in a new tab)).
• Phantom: 9 chains: Solana, Ethereum, Base, Polygon, BNB Chain, Bitcoin, HyperEVM, Robinhood Chain and Arc (Phantom supported networks (opens in a new tab)). Phantom ended Sui support on 24 September 2026.

Both cover the main memecoin chains: Solana, Base, BNB Chain and Ethereum. Only Fomo trades Monad tokens. Only Phantom holds Bitcoin, Polygon and HyperEVM assets.

Custody, funding and cash-out

Who holds the key

• Fomo: Fomo’s terms (opens in a new tab) say that Privy makes and manages a non-custodial wallet for you. You get one Solana address and one EVM address. There is no seed phrase to write down: your Apple ID or Google account is the login (Fomo sign-in help (opens in a new tab)). You can export the private keys, but you cannot import another wallet into Fomo (Fomo import help (opens in a new tab)).
• Phantom: you hold the seed phrase, and Phantom says it never has access to your funds (Phantom security (opens in a new tab)). You can import and export keys and connect a Ledger.

The two work together: you can export your Fomo key and import it into Phantom, and you see the same wallet (Phantom help (opens in a new tab)). Our guide to the Fomo wallet has the steps.

Putting money in

• Fomo: Apple Pay, a bank-issued debit card, Pay with Coinbase or USDC from another wallet, according to Fomo’s deposit guide (opens in a new tab). The methods depend on your region, and Apple Pay and card deposits are in the mobile app. Prepaid, virtual and gift cards are not accepted.
• Phantom: in the mobile app, Add Cash takes Apple Pay, Google Pay, a debit card or a bank account, depending on the provider (Phantom funding guide (opens in a new tab)). The money arrives as CASH, a USD-pegged stablecoin, and you then buy SOL or a token with it.

Taking money out

• Fomo: bank withdrawals work only to US bank accounts, with an ID check on the first one, a 5 USD minimum and 1 to 3 business days (Fomo bank withdrawal help (opens in a new tab)). Outside the US, you send USDC to a wallet or an exchange. See how to withdraw from the Fomo app.
• Phantom: in the US (except New York), the Cash account withdraws to a bank as USD at 1:1 after an ID check (Phantom US bank help (opens in a new tab)). Elsewhere, send your crypto to an exchange, sell it and withdraw there.

Features

The Fomo column comes from Fomo’s help center and terms. The Phantom column comes from Phantom’s help center. “Not in official pages” means only that our sources do not describe the feature.

Fomo hides the wallet work so that you can buy in a few taps and see what other traders buy. The web terminal at fomo.family needs a bit more skill than the app, but Fomo says it is not a pro trading terminal. Phantom gives you the keys and the freedom to use any DEX, but you do more steps yourself. For more options, see the best memecoin trading platforms.

Safety and incidents

• Fomo, August 2026: on 24 August 2026, an X account alleged that a Fomo iOS update caused about $6M in user losses and cited a wallet that lost 662 SOL. Co-founder Prashan Dharmasena said the claim was false. Protos (opens in a new tab) confirmed that the 662 SOL moved but found no independent proof of an exploit. We found no independent investigation.
• Phantom, 2022 and 2025: in the August 2022 Solana drain, about $4.08M left 9,230 wallets; Phantom said its systems were not compromised, and developers traced the drain to the Slope wallet (The Block (opens in a new tab)). In April 2025, 14 plaintiffs sued Phantom over an alleged key-storage flaw; Phantom says the claims are without merit, and we found no ruling.

What this means for you: we found no proven hack of either app’s own systems. Most losses come from phishing, fake apps and fake support. Keep only trading money in a hot wallet, and read is the Fomo app legit for the full Fomo check.

Who should pick which

Pick Fomo if:

• You are new to memecoins and want your first buy on a phone, with Apple Pay or a debit card.
• You do not want to write down a seed phrase or keep SOL for gas.
• Your Solana trades are usually above about 112 USDC, or you trade on Base, BNB Chain or Monad.
• You want to follow other traders and get an alert when they buy or sell.

Pick Phantom if:

• You want one wallet for Solana, Ethereum, Bitcoin and more, with a seed phrase you control.
• You want to connect to DEXs and other apps, or use a Ledger.
• You make many small Solana trades, below about 112 USDC each.
• You want spot limit orders on mobile, or a desktop Terminal with wallet tracking.

Many traders use both: Fomo for fast buys, and Phantom as the home wallet. You can export the Fomo key and open the same wallet in Phantom at any time. For terminal options, see Axiom vs Fomo and Phantom vs Solflare.

How to sign up with our links

1. 1

   Fomo: open our link first

   Go to fomo.family/r/Iocke (capital I, code Iocke) before you create the account. Install “fomo - never miss out” by FOMO Labs Inc. and sign in with Apple or Google. The 10% discount works only on the signup screen. See the Fomo referral code page.
2. 2

   Phantom: install from the official site

   Go to phantom.com or the official store listing. Create a wallet and write the recovery phrase on paper. We have no Phantom code.
3. 3

   Save your keys

   On Fomo, export the private key and store it offline. On Phantom, keep the recovery phrase offline. Never store either one in a screenshot or a chat.
4. 4

   Start small

   Add a small amount first, and check the fee on the confirm screen before your first trade in each app.

Bottom line

Pick Fomo (3.8) if you are new and want to buy memecoins on your phone with Apple Pay, no seed phrase and paid Solana gas. Pick Phantom (4.0) if you want a full self-custody wallet for 9 chains, Ledger and DEX access. On Solana, the two fees are equal at about 112 USDC per trade.

Changelog

• 2026-10-16: first comparison published, based on the official help centers and terms of Fomo and Phantom.