Navigating the complexities of crypto taxes can be daunting, but Koinly is here to simplify the process. As the world’s leading crypto tax software, Koinly offers a comprehensive solution for tracking, reporting, and filing cryptocurrency taxes.
Whether you are a casual investor or a high-frequency trader, Koinly provides an array of features designed to make tax season a breeze.
What is Koinly?
Koinly is a crypto tax software that automatically tracks transactions across multiple wallets and exchanges to generate accurate tax reports. Founded in 2018 and headquartered in London, Koinly aims to provide a seamless experience for cryptocurrency investors by integrating with over 400 exchanges and supporting every cryptocurrency available on the market.
Pros and Cons
| Pros | Cons |
|---|---|
| Supports every cryptocurrency available | Expensive pricing plans |
| Available in over 100 countries | Free version does not provide official reports |
| Fully compliant with IRS and other government regulators | Limited NFT compatibility |
Key Features
- Universal Wallet Cost Tracking: Connect multiple wallets to automatically track transactions across all of them.
- Crypto Portfolio Tracker: Aggregate holdings to display portfolio value and tax implications in one place.
- Koinly API: Sync directly with exchanges like Coinbase, Binance, and KuCoin for real-time data updates.
- Tax Guides: Access detailed, regularly updated tax guides for supported countries.
- Smart Transfer Matching: Use AI to detect transfers between owned wallets for accurate cost-basis tracking.
Koinly Pricing & Fees
Koinly offers five pricing plans ranging from $49 to $279, catering to different levels of traders. The main difference between plans is the number of supported transactions, from 100 to over 10,000.
- Free Plan: Offers portfolio tracking and tax guides but does not generate official tax reports.
- Paid Plans: Provide automated tax documents, with higher tiers supporting more transactions.
| Plan | Price | Features |
|---|---|---|
| Free | $0 | Portfolio tracking, tax guides, no official tax reports |
| Newbie | $49 | Up to 100 transactions, official tax reports |
| Holder | $99 | Up to 1,000 transactions, official tax reports |
| Trader | $179 | Up to 3,000 transactions, official tax reports |
| Pro | $279 | Up to 10,000 transactions, official tax reports, priority support |
Koinly Supported Exchanges and Wallets
Koinly integrates with over 400 exchanges and supports over 100 wallets, including:
- Exchanges: Coinbase, Binance, KuCoin, Kraken, FTX, Bitfinex.
- Wallets: MetaMask, Ledger, Coinbase Wallet, Trezor, Trust Wallet.
How Does Koinly Work?
Koinly works by aggregating transaction data through various methods to provide accurate portfolio and tax information. Users can link their exchange accounts via API, sync their wallets, or import transaction data directly. Once connected, Koinly provides real-time portfolio data, including gains, losses, and passive income from activities like staking.
Automated Tax Reports
Koinly automatically generates government-compliant tax forms, customized to each user's location and tax strategies. In the United States, Koinly can generate and auto-populate Form 8949 (Sales and Dispositions of Capital Assets) used to complete Schedule D of investor tax forms.
👉 >>> Ready to simplify your crypto tax season? Try Koinly's free report preview today! <<< 👈
Features Breakdown
Universal Wallet Cost Tracking
Connect multiple wallets to track transactions automatically, ideal for users with multiple wallets or companies operating across various chains.
Crypto Portfolio Tracker
Aggregate holdings across wallets to display portfolio value and tax implications in one place. View passive income streams such as mining, staking, and lending activities.
Koinly API
Sync directly with exchanges like Coinbase, Binance, and KuCoin for real-time data updates, avoiding the hassle of syncing multiple wallets and dealing with exported data.
Tax Guides
Access a regularly updated database of detailed tax guides for users in all supported countries, covering specifics of capital gains taxes, cost-basis methods, regulations, and efficient tax strategies.
Smart Transfer Matching
Through AI, Koinly detects transfers between owned wallets to ensure accurate cost-basis tracking, guaranteeing maximum accuracy of tax information.
Security: Is Koinly Safe & Secure?
Koinly employs robust security measures to ensure user data is safe:
- Encryption: All exchange APIs and blockchain keys are encrypted.
- No Asset Custody: Koinly does not hold any user assets, reducing the risk of hacks.
- 99.9% Uptime: Ensures reliability and accessibility.
- Vulnerability Scanning: Continuous improvement of security infrastructure through third-party tools.
- Data Hosting: Uses the cloud security platform Heroku for data hosting.
Customer Support
Koinly provides multiple support channels:
- Live Chat: Available on the website for quick assistance.
- Email Support: Reach out to hello@koinly.io for help.
- Help Center: A comprehensive self-help section for troubleshooting.
Who is Koinly Best For?
Koinly is suitable for investors of all levels:
- Casual Investors: Utilize the free version for automated transaction tracking and portfolio data.
- High-Frequency Traders: Purchase pro-level access to track over 10,000 transactions and receive expert tax advice.
- Global Users: Available in over 100 countries, fully compliant with most government regulators.
- Tax Professionals: Access detailed tax guides and automated reports for efficient tax preparation.
Final Thoughts
Koinly has established itself as a top-tier crypto tax solution, offering a robust suite of features to simplify tax season for crypto investors. Despite its higher pricing plans, the comprehensive services and ease of use make it a worthwhile investment for those serious about accurate tax reporting.
Get Tax-Ready!
Ready to simplify your crypto taxes?
👉 >>> Sign up for Koinly today and take the stress out of tax season. Explore the free version or choose a paid plan to access automated tax reports and start managing your portfolio with ease.
👉 >>> Get expert tax guidance paired with intuitive software—only with Koinly <<< 👈
Visit Koinly to get started.
