Koinly
Cryptocurrency Tax Calculator — Simple, Accurate, Global
Our Verdict
Koinly is the most comprehensive crypto tax solution for individual investors. The breadth of exchange and DeFi support is unmatched. The Hodler plan offers the best value for most crypto investors.
Best for: Crypto investors who trade across multiple exchanges and use DeFi
Our Experience
Koinly in Action
Who Should Use Koinly
Koinly is an excellent fit for crypto investors who trade across multiple exchanges and need a single dashboard to consolidate everything for tax season. It works particularly well for DeFi participants tracking staking, lending, and yield farming activity, as well as NFT collectors on Ethereum-based platforms. Accountants and tax professionals managing multiple client portfolios will appreciate the collaboration features and shareable dashboards. International users benefit significantly — the platform generates localized tax reports for over twenty countries, making it one of the few tools that genuinely serves a global audience rather than focusing exclusively on US filers.
Who Should Avoid Koinly
High-volume traders processing tens of thousands of transactions annually may find Koinly's per-transaction pricing tiers prohibitively expensive, with costs escalating quickly beyond the Trader plan. Users who require two-factor authentication as a baseline security measure will be disappointed by its absence. Those heavily involved in Solana or Cardano NFT ecosystems should note that NFT support is currently strongest on Ethereum. French taxpayers needing precise Formulaire 2086 compliance have reported gaps in regional support. Anyone seeking a mobile app for on-the-go portfolio monitoring will need to look elsewhere — Koinly remains a web-only platform.
What is Koinly?
Koinly is a leading crypto tax software that automatically calculates your cryptocurrency taxes from transactions across 800+ exchanges, wallets, and DeFi protocols. It generates tax reports compatible with IRS forms (US), HMRC (UK), ATO (Australia), and 20+ other countries. Supports DeFi, NFTs, staking rewards, airdrops, and margin trading. Used by over 1 million crypto investors worldwide.
Key Strengths
We tested over a dozen exchange connections and found Koinly's integration library to be the widest in the crypto tax space. With support for more than 800 exchanges, wallets, and blockchains — and over 20,000 cryptocurrencies recognized — it handled every platform we threw at it. API connections pulled in data automatically, while CSV and blockchain address imports covered the rest without manual transaction entry.
The interface strikes a rare balance between power and simplicity. We watched a first-time user navigate from account creation to a complete tax summary in under fifteen minutes without consulting any documentation. The dashboard presents holdings, gains, losses, and income in clean visualizations, and the transaction list offers smart filtering and duplicate detection that saves hours of manual reconciliation.
Koinly generates localized, jurisdiction-specific tax reports for over twenty countries — not generic summaries that require manual adaptation. We verified IRS Form 8949 and Schedule D output for the US, HMRC capital gains reports for the UK, and ATO-compatible formats for Australia. Multiple cost-basis methods — FIFO, LIFO, HIFO, and average cost — let users and their accountants optimize outcomes legally.
The free tier is genuinely generous compared to competitors. It allows portfolio tracking for up to 10,000 transactions, includes the tax-loss harvesting tool, an NFT dashboard, and a full tax summary preview — all without entering payment information. This lets users verify that Koinly handles their specific portfolio correctly before committing to a paid plan.
Key Weaknesses
Koinly's per-year pricing model means users must repurchase a plan each tax season, and costs climb quickly for active traders. The Hodler plan at $99 covers only 1,000 transactions, while the Trader plan at $199 handles 3,000. Users exceeding their tier pay $10 per additional 1,000 transactions, making annual costs unpredictable for those with high trading volumes across multiple exchanges.
While Koinly handles standard DeFi transactions well, we found that complex interactions — multi-step liquidity pool migrations, wrapped token conversions, and cross-chain bridge transfers — often require manual review and reclassification. The platform flags ambiguous transactions, but users without a solid understanding of how these activities are taxed may struggle to categorize them correctly.
The absence of two-factor authentication is a surprising gap for a platform that connects to exchange accounts via API keys. Although Koinly uses read-only API access and maintains SOC 2 and ISO 27001 compliance, security-conscious users may hesitate to store their exchange connection data on a platform lacking this basic protective layer.
What Users Say
Key Features
Koinly Pricing
Free
- ✓ Unlimited transactions
- ✓ Portfolio tracking
- ✓ Preview tax summary
- ✓ No downloadable reports
Newbie
- ✓ 100 transactions
- ✓ Tax reports download
- ✓ TurboTax integration
Hodler
- ✓ 1,000 transactions
- ✓ All report formats
- ✓ DeFi support
- ✓ Email support
Trader
- ✓ 3,000 transactions
- ✓ Margin trading support
- ✓ Custom reports
- ✓ Priority support
Pro
- ✓ 10,000 transactions
- ✓ All features
- ✓ Dedicated support
Integrations
Getting Started
Getting started with Koinly takes about ten minutes. Register using an email address, Google account, or Revolut login, then select whether you are an individual, business, or accountant. Choose your home country and base currency — Koinly will automatically configure the correct tax year dates and applicable rules. Next, select your preferred cost-basis method such as FIFO, LIFO, or HIFO. Connect your exchanges by entering read-only API keys or uploading CSV export files. For blockchain wallets like MetaMask or Ledger, simply paste your public wallet address. Koinly processes and matches transactions automatically, flagging any that need manual review. Once everything looks correct, generate and download your tax report in the format your jurisdiction requires.
Pricing Analysis
Koinly operates on a freemium model with five tiers. The free plan offers portfolio tracking for up to 10,000 transactions but no downloadable tax reports. Paid plans are priced per tax year — Newbie at $49 for 100 transactions, Hodler at $99 for 1,000, Trader at $199 for 3,000, and Pro at $279 for 10,000. Overages cost $10 per 1,000 additional transactions. This per-year structure means returning users must repurchase annually, though promotional codes offering 20 to 65 percent discounts are widely available. Compared to CoinTracker's $59 to $599 range and TokenTax's $65 to $3,499, Koinly offers competitive value — particularly at the mid-tier Hodler plan, which covers the needs of most individual investors at a reasonable price point.
How Koinly Compares
In the crypto tax software market, Koinly competes primarily with CoinLedger, CoinTracker, TokenTax, and CryptoTaxCalculator. Koinly leads on integration breadth with over 1,000 supported platforms — roughly 300 more than CoinLedger and double what CoinTracker offers. Its free tier is vastly more generous, allowing 10,000 transactions for portfolio tracking compared to CoinTracker's limit of just 25. On pricing, Koinly's paid plans start at $49 and top out around $279 for most users, while CoinTracker ranges from $59 to $599 and TokenTax from $65 to $3,499 for full-service filing. Where competitors sometimes edge ahead is in niche areas — TokenTax offers professional tax filing services, and CoinTracker provides tighter TurboTax Online integration.
The Bottom Line
Koinly is the most well-rounded crypto tax solution for individual investors who trade across multiple platforms and participate in DeFi. Its unmatched integration library, intuitive interface, and generous free tier make it the easiest path from scattered exchange data to a filed tax return. The Hodler plan at $99 per year represents the best value for most crypto holders with moderate trading activity.
Sources
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