• Features: ★★★★★ 5/5
  • Integrations: ★★★★★ 5/5
  • Ease of Use: ★★★★☆ 4/5
  • Pricing: ★★★☆☆ 3/5
  • Free Account Option: ★★★★☆ 4/5
  • Customer Support: ★★★★☆ 4/5

Latest Koinly Review [Features & Pricing]

Fact-checked
  • Features: ★★★★★ 5/5
  • Integrations: ★★★★★ 5/5
  • Ease of Use: ★★★★☆ 4/5
  • Pricing: ★★★☆☆ 3/5
  • Free Account Option: ★★★★☆ 4/5
  • Customer Support: ★★★★☆ 4/5

Best For

Those living and working in more than one country

STRENGTHS

  • Multi-country support and numerous integrations
  • Automatic tax reports based on your location
  • Free plan you can use indefinitely

WEAKNESSES

  • The lack of email support for plans other than Trader/Pro

If you’re a crypto investor looking for a platform to monitor your transactions and generate automatic tax reports and you’re considering Koinly, this is the Koinly review you’ll wanna read.

I’ve covered everything – features, prices, plans, how Koinly compares to its competitors, as well as what its strengths and weaknesses are, so you can decide whether it’s the right option for you.

What Is Koinly and What Does It Offer?

Koinly is a crypto tax software that helps you monitor all of your cryptocurrency ins and outs, including trading, staking, landing, margin and futures trading, DeFi, mining, airdrops, covering all gains and losses.

It also generates automatic tax reports, calculates your crypto taxes, and provides various integrations and multi-country support for those living in different locations.

This Koinly tax review will help you determine whether Koinly is the solution you need to save the time and effort that goes into crafting tax reports and staying up to date with all of your transactions.

Koinly supports 350+ exchanges, 50+ wallets, and lets you import your transactions to give you a clear overview of your cryptocurrency activities, gains, and losses across all wallets or individually.

It generates automatic tax reports that include:

  • Complete tax reports
  • Capital gains reports
  • Income reports
  • Expense reports
  • End of year holdings reports
  • Transaction reports
  • Gifts, donations, and lost assets reports
  • TurboTax report
  • Localized tax reports such as Form 8949 and Schedule D, Norwegian RF1159, Schedule 3, Swiss Valuation Report, Finnish Lomake 9, Capital gains summary for the UK, German K4, French Formulaire 2086, and Australian Summarized ATO report

It’s especially beneficial to users who need multi-country support and international tax filings, as it adjusts the forms needed depending on your location.

While researching for our Koinly expert review, I was impressed by the fact that the platform was founded by a person with experience in working in accounting and finance, as well as that the team is assembled from crypto investors and engineers.

This, along with its features, is one of the highest points of recommendation considering that the software was created using their expert knowledge and adjusting to their actual needs and requirements for such a platform.

Main Features

I carefully reviewed Koinly’s possibilities and what it has to offer to paint you a vivid picture of what you’ll find most useful, but also which features could use an improvement.

Let’s dive into the most important part of this Koinly review – its features.

Supported Cryptocurrencies

Koinly supports over 6,000 cryptocurrencies but also provides you with over 6 years of historical data on crypto and fiat spot prices, so you can make sure all of your calculations are correct. This will also give you a simple overview of the crypto history and a clearer picture of what the future holds for cryptocurrency.

This cryptocurrency tax software generates automatic tax reports on different forms, including Form 8949 and Schedule D.

Also, the platform includes warnings about spotted errors so you can check and correct the missing or duplicate transactions.

Multi-Country Support

Other than Form 8949 and Schedule D you can get international tax reports, which is a great option for all people sorting their taxes outside of the US.

Not only is Koinly legit, but this platform supports over 100 countries. Not all of them are listed on their website so you may need to enquire about a particular country you are interested in.

Koinly claims that their tax reports can apply to any country using some of the available cost basis methods.

This means you can get automatic tax reports depending on your location with the local currency. You can choose the best cost basis method to fit your needs:

  • Average Cost Basis (ACB)
  • First In First Out (FIFO)
  • Last In First Out (LIFO)
  • Highest In First Out (HIFO)
  • Share Pooling

Extensive Service Integration

The integrations available when using Koinly are very impressive and they’re bound to make your transactions and wallet transfers a whole lot easier to monitor.

It integrates with 350 exchanges, 50 wallets, 11 services, and over 6,000 blockchains and keeps track of all of your crypto activities, ins and outs, including lending, mining, trading, and airdrops. It gives you information regarding crypto prices and your crypto gains and losses across different platforms.

I have no problem stating in this Koinly app review that Koinly is among the top options for crypto tax software. This platform supports TaxAct and TurboTax Online so you can download your capital gains and import them into the software for simplified filling.

Data Import

Koinly lets you import your data from a vast selection of exchanges so you can have a clear overview of your transactions, wallet transfers, and monitor your portfolio. Some of the exchanges include Binance, Exmo, Bittrex, Luxor, Coinbase, Coinbase Pro, and many more.

In addition, if you can’t find your exchange on the list, you can download your reports as a CSV file or in Excel format and import them into the platform.

I found this feature quite handy to keep an overview of all of your crypto activities, whether it’s mining, trading, lending, staking, DeFi activities, or more.

What I really liked is that Koinly recognizes different types of transactions and sorts them out accordingly.

And if you’re wondering is Koinly safe, you should know it uses a read-only API connection so it can’t make changes to your exchanges or wallets. That said, when configuring API connections, you should disable the ability to trade and withdraw. Also, it doesn’t store your payment details.

Free Account Option

You can start a free account and keep track of your portfolio for an unlimited time, but downloading automatic tax reports is not included in this option.

The free plan comes with 10,000 transactions and features that allow you to monitor your investments, gains, and losses.

Comprehensive Resources

In addition to their blog, Koinly has a Crypto Tax Guide and a Discuss portion on their website you can use to communicate with other users. Many koinly.io reviews claim, and I agree, that the resources available are very useful and thorough enough to provide you with proper guidelines regarding cryptocurrencies and tax filing.

Ease of Use

Koinly reviews state that this platform is very easy to use and I had the opportunity to check it out it for myself.

In just a few clicks, you can create an account with Coinbase, your Google account, or using your email address and password.

After you’ve logged in, you can choose your wallets and exchanges to import your transactions.

The dashboard shows your total value, cost basis, and unrealized gains. With just a click on the header of the site, you can see and double-check all of your transactions. Then you can go to the tax report section to download your first tax report for the selected period.

In the Settings section, you can adjust the parameters to get the report that you need.

Koinly Pricing and Plans

Koinly has different subscription plans, including a free plan.

You can choose a pricing plan that fits your needs and also purchase a dual nationality feature for $49 which allows you to download tax reports for one additional country.

You can pay for the chosen plan with your debit or credit card or use cryptocurrency.

Plan Price + Subscription What is included? Best for
Free $0 Unlimited transactions, but no tax reports, email customer support, custom files import, and cost analysis Investors who want to monitor their transactions without automatic tax reports
Newbie $49 per tax year 100 transactions with all the features, but no email support New investors or those with a smaller number of transactions and on a budget
HODLer $99 per tax year 1,000 transactions, tax reports, and other features Investors with more than 100 transactions
Trader/Pro $179 or $279 per tax year 3,000 or 10,000 transactions with email support included People with a large number of transactions and in need of dedicated support

Free plan

A great option and one of the advantages when comparing CoinTracker vs Koinly is that Koinly has a free plan which includes 10,000 transactions and a lot of great features, while CoinTracker’s includes only 25.

The free plan is also an excellent starting point for you to check out the system and to see whether it suits your needs when it comes to appearance, overview, and ease of use.

Newbie

This plan costs $49 per tax year and includes automatic tax reports and the import of custom files, but still no email support.

This plan is great for smaller range investors and offers a variety of features at an affordable price.

HODLer

Researching for this Koinly review, I found that this is a good option for those who have passed the beginners’ line but still want an affordable platform to monitor all their transactions and generate automatic tax reports to save time.

Trader

For those high in the crypto transaction sky, Trader comes with all the features included as well as dedicated email support exclusive for this pricing plan.

You can go for the Pro version to get 10,000 transactions for $279.

Customer Support

I would like to point out that this platform is known for its high-quality customer support and during my research, I’ve found many koinly.io reviews that speak very highly about customer service and its quick resolution of users’ questions. This is confirmed by their high Trustpilot ratings.

Koinly’s customer support can be reached through a live chat feature on their website and via e-mail but only for Trader plan subscribers.

For general inquiries, you can contact Koinly at hello@koinly.io.

Koinly Alternatives

Win Lose Best for
TokenTax Offers help with tax filing Doesn’t have a free plan If you need help filing your taxes in addition to automatic tax reports
CoinTracker Has an Android and iOS app Comparing CoinTracker vs Koinly, CoinTracker is pricier and has only 25 transactions available with a free plan Investors who like a designated app to monitor their transactions on the go
Cointelli Supported for Windows, Mac, iPhone, iPad, and Android No multi-country support US crypto investors who don’t need additional local tax reports

With different pricing plans available, Koinly can easily fit different types of users and its multi-country support and the possibility of purchasing a second national report is maybe the best solution for those living and working in more than one country.

Koinly Review: Conclusion

Considering the rather low Koinly cost and a very extensive list of integrations and features, it can be just the thing for you if you’re looking to monitor your transactions and save time on your taxes.

Its reliable and expert customer support along with great resources are available to guide you every step of using this software.

Overall, Koinly is a great crypto tax software for people who just want to monitor their crypto activity in one place, but especially for those who need tax reports adjusted to their location and local regulations.

FAQ

Is Koinly easy to use?

In short, yes. It’s very intuitive and you’ll find available resources on the platform to help you set up your dashboard for a complete overview of your transactions, gains, and losses.

With a few simple settings adjustments, you can download your crypto tax report based on your location and currency.

What tax reports does Koinly support?

Koinly supports the following tax reports:

  • Capital gains reports
  • Income reports
  • Complete tax reports
  • End of year holdings reports
  • Transaction reports
  • Expense reports
  • TurboTax report
  • Gifts, donations, and lost assets reports
  • Localized tax reports
Which countries does Koinly calculate taxes for?

Koinly supports over 100 countries across multiple continents. The major ones are listed on their website, but the platform and numerous Koinly reviews claim that they can help with tax reports in any country that uses some of the supported cost basis methods.

ABOUT AUTHOR

I learned a lot about finance after working for a digital marketing company specializing in investing and trading stocks, forex, etc. After that, I got exposed to other verticals such as wealth management and personal finance, which further improved my understanding of the financial world.