Koinly Crypto Tax App Review

Keeping up with your crypto trades is exciting. However when tax time hits, things can get complicated pretty fast. That’s why apps like Koinly can be effective for traders. Especially those that are very active. In this Koinly review, we’ll break down how this trusted crypto tax platform. Can simplify reporting across exchanges, wallets and DeFi protocols.

Launched in 2018, Koinly has quickly become one of the most reliable tools for cryptocurrency tax tracking. It offers robust portfolio syncing, automated tax reports and support for over 100 countries. Whether you’re a casual investor, a DeFi enthusiast, or a professional accountant. Koinly eliminates the manual work and guesswork from crypto tax season. This review covers Koinly’s key features, pricing and pros / cons. It also briefly explains how it compares to other top crypto tax tools, so you can decide if it’s the right fit for your needs.

What Is Koinly?

Koinly is a cryptocurrency tax software and portfolio tracker. It was built to simplify the process of managing crypto taxes. At this present time, it supports over 400 exchanges, wallets and blockchains. The software enables users to automatically import transactions and calculate gains / losses. The app also allows you to generate region-specific tax reports.

Designed for both casual investors and active traders. Koinly consolidates crypto activity across chains. Essentially allowing you to combine; trading, staking, mining, NFTs and DeFi. All into a unified dashboard. The software supports multiple accounting methods such as FIFO, LIFO and HIFO. Moreover, it can produce downloadable tax forms such as IRS Form 8949 and Schedule D.

Users have the option of importing data via API, public wallet addresses or CSV files. Once imported, transactions are auto-categorized, while tax liabilities are usually calculated with precision. Permitting your tokens and balances line up. The platform’s fairly clean interface, allows users to monitor portfolios in real time and filter activity by tax year.

Koinly’s free tier allows for full transaction review and portfolio tracking. Upgrading to a paid plan, enables you to unlock tax report generation and export options. Which are mostly required for tools like TurboTax and TaxAct. Whether filing locally or globally. Koinly offers a comprehensive solution for staying compliant, in an evolving crypto landscape. ^{(1, 2)}

Core Features

Koinly is known as a crypto tax tool first, although there’s more to it once you start exploring. From importing transactions across hundreds of platforms. To handling complex DeFi activity and surfacing tax optimization opportunities. Koinly operates with depth and clarity, while doing its best to keep things user-friendly.

• Accurate Tax Calculations: Koinly’s “crypto tax calculator”, automatically calculates capital gains, losses, income, and cost basis across your full transaction history. It aligns with regional tax laws to generate reports that are ready to file. Whether you’re an individual user or a tax professional, this is the foundation that makes the rest of the platform work.
• Automated Transaction Tracking: Koinly syncs with over 400 exchanges, wallets and blockchains. It achieves this via API, wallet address or manual CSV upload. This automation pulls in trading activity, staking rewards, transfers, and more across both centralized and decentralized platforms. Pretty much saving users hours of manual work, while helping to ensure nothing gets missed at tax time.
• Real-Time Portfolio Tracking: The live dashboard gives users a clean overview of their holdings, across all platforms. With full asset breakdowns, profit / loss summaries and ROI metrics. Koinly makes it fairly easy to stay on top of performance, without needing separate apps or spreadsheets.
• Jurisdiction-Specific Tax Reports: Koinly can automatically generate compliant tax forms for dozens of countries, including; the U.S., UK, Canada, Australia,  Germany and more. Reports include Form 8949 and Schedule D. It also includes other region-specific documentation that can be submitted directly, or exported to tools like TurboTax.
• Support for Multiple Accounting Methods: Users can switch between FIFO, LIFO, or HIFO, to match local tax rules or optimize their return. Koinly’s flexibility helps reduce tax liability where allowed, and ensures compliance based on the rules in your country.
• DeFi & NFT Support: Whether it’s staking, liquidity pooling or flipping NFTs. Koinly recognizes complex transactions and logs them accordingly. From Ethereum 2.0 rewards to NFT sales on OpenSea. Koinly can automatically categorize taxable events, even when activity is spread across multiple wallets.
• Error Detection & Reconciliation: Koinly identifies missing, duplicate, or inconsistent transactions across your accounts. This helps users catch issues early and avoid overpaying on taxes. It also helps maintain complete records, that hold up in the event of an audit. ^{(3, 4)}

Who Is Koinly Built For?

Koinly was built to take the stress out of crypto tax season. Logging your first trade, or managing hundreds of client portfolios? Either way, Koinly serves a wide range of users by offering; deep integration, customizable tax methods, and support for global regulations. From day-to-day investors to accountants and businesses. Koinly can scale to match both experience level and complexity.

• Retail investors looking to track gains, losses and income. While staying tax-compliant without spreadsheets or manual calculations.
• Crypto traders who need to manage high volumes of transactions, across multiple platforms. Including support for strategies such as FIFO, LIFO and HIFO.
• Multi-wallet users, who want consolidated tracking of assets across exchanges, wallets and blockchains. With real-time portfolio visibility.
• NFT collectors and DeFi users, who require accurate logging of complex transactions. For instance; staking, liquidity pools, lending and NFT sales.
• Professional accountants and tax agents managing multiple clients. Who have access to dedicated tools, multiple report types and bulk account handling.
• Businesses handling employee or client crypto transactions, that need scalable, accurate and regulation-compliant tax reporting.
• Global users from over 100 supported countries, including the U.S., Canada, UK, Australia and others. Who benefit from localized tax forms and flexible accounting methods.
• While Koinly supports hundreds of platforms, users on chains like Ethereum and Base will most likely experience smoother integration. Chains like Solana may require closer review due to occasional gaps in token tracking. Tokens may be seen but balances might be missing.

In short, Koinly is built for anyone who finds crypto taxes frustrating and wants clarity, precision and peace of mind. No matter how complex their crypto activity is. ^{(5, 6)}

 

Koinly vs. Other Platforms

There are plenty of crypto tax tools out there, but most fall short when it comes to combining ease of use, global coverage and depth of features. Koinly delivers fairly well on all three. Here’s how it stacks up:

Koinly vs. CryptoTaxCalculator

CryptoTaxCalculator is a decent pick for users in Australia, but its features are locked behind steeper paywalls. Koinly, on the other hand, supports over 100 countries. It offers more flexibility with tax reports, while giving users access to capital gains previews for free.

Koinly vs. CoinLedger

CoinLedger offers a clean UI and live chat support, however Koinly brings more to the table globally. It supports more wallets and exchanges, offers broader tax form compatibility, and lets you view detailed summaries, without needing an upgrade.

Koinly vs. Blockpit

Blockpit covers a wide range of assets including commodities. It also handles DeFi and NFTs fairly well. Koinly on the other hand, wins on global tax support, total integrations and simplicity. It’s built for users who want serious functionality, without a steep learning curve. ⁽⁷⁾

Pricing Overview

Koinly uses a tiered pricing model based on transaction volume per tax year. There’s a generous free plan that includes portfolio tracking, wallet and exchange syncing. You can also locate capital gains previews for up to 10,000 transactions. Although, tax report downloads require a paid plan.

• Newbie ($49/year) – Up to 100 transactions
• Hodler ($99/year) – Up to 1,000 transactions
• Trader ($199/year) – Up to 3,000 transactions
• Pro ($299/year) – Up to 10,000 transactions
• Custom – 100,000+ transactions (contact Koinly for pricing)

All paid plans include full tax reporting features such as Form 8949, Schedule D and international tax support. It also includes export options to TurboTax and TaxAct. Additionally, users get access to DeFi, margin and futures tracking. Error reconciliation, multiple accounting methods (FIFO, LIFO, HIFO etc.), along with unlimited wallet integration.

Upgrades appear to be flexible, where users can pay the difference when moving to a higher tier. Additional transactions can be added to the Pro plan, at $10 per 1,000 transactions. Koinly accepts major credit cards as well as crypto payments (BTC, ETH, DAI, USDC). Plans are tied to specific tax years but remain accessible indefinitely once purchased.

 

Strengths & Limitations

Koinly delivers powerful features for crypto tax reporting and portfolio tracking. Although like any platform, it’s not without its trade-offs. Whether you’re a beginner or managing a large portfolio. It helps to understand where Koinly excels and where it may require a closer look. Here’s the breakdown:

Strengths:

• Localized tax reports – Generates region-specific forms for over 20 countries and supports generic reports for more than 100.
• Extensive integrations – Supports over 20,000 tokens, 170+ blockchains, 400+ exchanges and 100+ wallets.
• Multiple accounting methods – Offers FIFO, LIFO, HIFO, Average Cost and wallet-based cost tracking.
• Smart transaction handling – Automatically detects duplicates, small trade grouping and excluded events for cleaner reports.
• Free plan available – Lets users track up to 10,000 transactions, preview gains / losses and test functionality before upgrading.
• Regulatory-ready – Built with input from certified accountants and regularly updated to meet tax compliance standards.
• Crypto payments accepted – Pay for plans using BTC, ETH, DAI or USDC.

Limitations:

• Not fully automated – Some transactions, especially from certain exchanges or DeFi platforms, may require manual input or correction.
• No tax forms on free plan – IRS-compliant reports like Form 8949 and Schedule D, are only available on paid tiers.
• Limited Solana tracking – Token visibility may be incomplete on certain chains, requiring additional review.
• No dedicated mobile app – Web-based only. Mobile experience is usable but not as a polished native app.
• Can get pricey – Higher-tier plans and large transaction volumes, can become expensive for power users.

Final Thoughts

Koinly stands out in the crowded field of crypto tax software, by offering depth without complexity. It supports a wide range of chains, exchanges and accounting methods. While remaining accessible to both casual users and professionals. Its ability to generate jurisdiction-specific tax reports, handle complex DeFi and NFT activity and reconcile transactions across platforms. Makes it a reliable choice for nearly anyone involved in crypto.

While some chains like Solana may require extra attention, and high-volume users may find the pricing steep. The overall package is strong. If you’re looking for a streamlined, compliant, and scalable solution to handle your crypto taxes. Koinly might just be the crypto tax app you are looking for.

Get details on Koinly subscription plans when you click here. Or, see our complete Axiom Trade review, if you’re considering an advanced Solana trading bot, or wallet tracker for your needs.

 

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Page Last Reviewed / Updated: 26-May-2025