Koinly Review 2025
Is Koinly the best crypto tax software? We tested it extensively to find out.
Free portfolio tracking • No credit card required • Upgrade when ready
Quick Verdict
Koinly is the best crypto tax software for most users. After extensive testing, we found it offers the most comprehensive exchange support (600+), excellent DeFi integration, and accurate tax calculations for 100+ countries. While not the cheapest option, its ease of use and time-saving automation make it worth the investment for anyone with more than basic crypto activities.
✓ Best Features
- • Industry-leading exchange support
- • Excellent DeFi protocol tracking
- • Clean, intuitive interface
- • Accurate automatic categorization
✗ Main Drawbacks
- • Can be expensive for high-volume traders
- • Email support only (no phone)
- • Occasional sync delays
In This Review
What is Koinly?
Koinly is a cryptocurrency tax calculator and portfolio tracking platform founded in 2018. Headquartered in the UK, the company has grown to serve over 500,000 users worldwide, making it one of the most popular crypto tax solutions on the market.
The platform's core mission is to simplify crypto tax reporting by automatically importing transactions from exchanges and wallets, calculating gains and losses using your country's tax rules, and generating compliant tax reports. What started as a tool for basic exchange trading has evolved into a comprehensive solution supporting DeFi, NFTs, staking, and complex crypto activities.
Koinly differentiates itself through its breadth of integrations (600+ exchanges and wallets), accuracy in handling complex scenarios, and support for 100+ countries with localized tax rules. The platform uses AI-powered transaction categorization to reduce manual work, though users can always review and adjust categorizations as needed.
Company Info: Founded 2018 • UK-based • 500,000+ users • Y Combinator alumni • Trusted by accountants and tax professionals globally
Key Features
600+ Exchange & Wallet Integrations
Connect all your exchanges and wallets in one place. Koinly supports more platforms than any other crypto tax software, including all major exchanges (Binance, Coinbase, Kraken, Crypto.com) and hundreds of smaller platforms.
- • API connections for automatic syncing
- • CSV import for exchanges without API
- • Wallet tracking via public addresses
- • Support for 20+ blockchains
Industry-Leading DeFi Support
Automatically track DeFi activities across 100+ protocols. Koinly handles complex transactions like liquidity provision, yield farming, lending, and staking rewards without manual intervention.
- • Uniswap, SushiSwap, Curve integration
- • Aave and Compound lending/borrowing
- • Staking rewards (Lido, Rocket Pool)
- • Yield farming across chains
Complete NFT Tax Tracking
Track NFT purchases, sales, minting, and royalties across all major marketplaces. Koinly properly calculates cost basis and capital gains for your NFT activity.
- • OpenSea, Blur, LooksRare support
- • Minting cost basis tracking
- • Royalty income reporting
- • Cross-chain NFT support
AI-Powered Transaction Categorization
Koinly uses machine learning to automatically categorize transactions with high accuracy. The system learns from millions of transactions to correctly identify trades, transfers, rewards, and more.
- • Automatic trade detection
- • Smart duplicate removal
- • Transfer vs trade identification
- • Manual override always available
Real-Time Portfolio Tracking
Monitor your crypto holdings across all platforms with live price updates. Track performance, see unrealized gains, and get alerts for tax-loss harvesting opportunities.
- • Live portfolio dashboard
- • Performance analytics
- • Asset allocation breakdown
- • Historical performance charts
Compliant Tax Reports for 100+ Countries
Generate tax-ready reports formatted for your country's tax authority. Koinly applies localized tax rules and outputs the exact forms your accountant needs.
- • IRS Form 8949 & Schedule D (USA)
- • HMRC CGT calculations (UK)
- • CRA reports (Canada)
- • ATO CGT reports (Australia)
Koinly Pricing & Plans
Koinly offers a free plan for portfolio tracking and four paid tiers based on transaction volume. All paid plans include unlimited tax years and full feature access.
Free
- ✓Portfolio tracking
- ✓Up to 10,000 transactions
- ✓Real-time profit/loss
- ✓No tax report generation
Perfect for tracking only
Newbie
- ✓Up to 100 transactions
- ✓Full tax reports
- ✓All tax years
- ✓Email support
Hodler
- ✓Up to 1,000 transactions
- ✓Priority support
- ✓DeFi support
- ✓Tax-loss harvesting
Trader
- ✓Up to 10,000 transactions
- ✓All features
- ✓Priority support
- ✓Multi-year reports
Pro
- ✓Unlimited transactions
- ✓Premium support
- ✓All features
- ✓Best for high volume
Value Analysis: At $179/year for the Trader plan (up to 10,000 transactions), Koinly costs about $0.50/day. If you have significant crypto holdings, the tax savings from accurate reporting and loss harvesting typically far exceed the software cost. For perspective, finding just one $500 tax-loss harvesting opportunity pays for the software 3x over.
How Koinly Works (Step-by-Step)
Create Free Account
Sign up at koinly.io with your email. No credit card required for the free plan.
Connect Exchanges & Wallets
Add your exchanges via API (secure, read-only) or CSV file. Add wallet addresses for blockchain tracking. Koinly provides step-by-step guides for each platform.
Automatic Sync & Categorization
Koinly imports all your transactions and automatically categorizes them using AI. This typically takes 5-15 minutes depending on your transaction volume.
Review & Adjust
Check the transactions page for any flagged items. Koinly highlights potential issues and lets you manually adjust categorizations if needed.
Generate Tax Report
Select your country and tax year. Koinly calculates your gains/losses using local tax rules and generates your tax forms. Available instantly.
File with Tax Authority or Accountant
Download your tax reports (PDF or CSV) and file directly, or send to your accountant. Most accountants are familiar with Koinly reports.
Time to Set Up: Most users complete setup in 15-30 minutes. The majority of time is spent connecting exchanges via API (which Koinly walks you through step-by-step). Once connected, Koinly automatically syncs and you're done. For subsequent years, setup takes less than 5 minutes.
DeFi Support: What We Tested
We tested Koinly's DeFi tracking across multiple protocols and chains. Here's what works well and where it struggles:
- • Uniswap V2/V3 - Full tracking of swaps and liquidity provision
- • SushiSwap - Complete support including farm rewards
- • Curve - Handles pool deposits, withdrawals, and CRV rewards
- • Aave - Lending, borrowing, and interest tracking
- • Compound - Supply/borrow positions and COMP rewards
- • Lido - Staked ETH and stETH rebasing
- • Rocket Pool - rETH staking rewards
- • Complex Yearn strategies - Some vaults need manual categorization
- • Convex - Rewards tracking can be inconsistent
- • Balancer V2 - Pool weights sometimes miscalculated
- • Cross-chain bridges - May need manual cost basis adjustment
- • New/obscure protocols - May not be in database yet
- • Flash loan transactions - Often need manual handling
- • Some Layer 2 bridges - Inconsistent tracking
Our Take: Koinly has the best DeFi support of any crypto tax platform we've tested. While not perfect (especially for bleeding-edge protocols), it handles 90% of common DeFi activities automatically. For the remaining 10%, the manual editing tools are straightforward enough for most users.
NFT Tax Tracking
Koinly provides comprehensive NFT tracking across major marketplaces:
✓ Fully Supported
- • OpenSea (Ethereum, Polygon, Arbitrum)
- • Blur
- • LooksRare
- • Rarible
- • Foundation
- • SuperRare
Tracked NFT Activities
- • Minting (cost basis)
- • Buying (acquisition cost)
- • Selling (capital gains/losses)
- • Receiving royalties (income)
- • Gifting/transferring
Example: If you mint an NFT for 0.1 ETH ($200) and later sell it for 2 ETH ($4,000), Koinly correctly calculates your capital gain of $3,800 and reports it on your tax forms. If you received 0.5 ETH ($1,000) in royalties from secondary sales, that's tracked as ordinary income.
Country Support & Tax Forms
Koinly supports 100+ countries with localized tax rules. Here are the most popular:
🇺🇸 United States
- • FIFO, LIFO, HIFO, Specific ID support
- • Short-term vs long-term calculation
- • Wash sale tracking
- • State tax calculations
🇬🇧 United Kingdom
- • Section 104 pooling
- • £3,000 CGT allowance
- • Same-day & 30-day rules
- • HMRC compliant reports
🇨🇦 Canada
- • Capital gains vs business income
- • 50% inclusion rate
- • Superficial loss rules
- • Foreign property reporting
🇦🇺 Australia
- • 50% CGT discount (held >12 months)
- • Personal use asset exemption
- • ATO compliant
- • Cost base calculations
Don't see your country? Koinly supports 95+ additional countries including France, Spain, Netherlands, Switzerland, Singapore, India, and many others. Check their website for the full list.
Pros & Cons
✓ Pros
- ✓Most Comprehensive Exchange Support600+ integrations means your exchange is almost certainly supported, saving hours of manual CSV imports.
- ✓Excellent DeFi TrackingHandles complex DeFi transactions better than any competitor, from Uniswap swaps to Curve LP positions.
- ✓Intuitive User InterfaceClean, modern design that's easy to navigate even for crypto tax beginners. Well-organized dashboard.
- ✓Accurate Automatic CategorizationAI-powered categorization gets it right 90%+ of the time, reducing manual work significantly.
- ✓Great Customer SupportResponsive email support with detailed answers. Extensive help center and video tutorials.
- ✓Regular UpdatesFrequently adds new exchange integrations and features. Actively maintained and improved.
✗ Cons
- ✗Expensive for High-Volume TradersThe Pro plan at $279/year is necessary for unlimited transactions, which can add up for day traders.
- ✗No Phone SupportEmail-only support can be slow for urgent issues. No live chat or phone option.
- ✗Occasional Sync DelaysSome exchanges experience periodic sync issues, requiring manual re-syncing.
- ✗Complex DeFi Still Needs ReviewWhile better than competitors, cutting-edge DeFi protocols may need manual categorization.
Koinly vs Competitors
Koinly vs CoinTracker
- • 4x more exchange integrations
- • Better DeFi support
- • Supports 100+ countries vs 15
- • More affordable for high volume
- • Better NFT tracking
- • Slightly simpler interface
- • Mobile app available
- • More beginner-friendly
- • Real-time price alerts
Bottom Line: Choose Koinly if you need comprehensive features and international support. Choose CoinTracker if you want the simplest possible experience and have a basic portfolio.
Koinly vs TokenTax
- • Easier to use
- • Better portfolio tracking
- • More affordable at lower tiers
- • Cleaner interface
- • Best-in-class DeFi support
- • Professional CPA review available
- • Better for very complex portfolios
- • Advanced audit tools
Bottom Line: Choose Koinly for most use cases. Choose TokenTax only if you're a DeFi power user with extremely complex transactions or want professional CPA review.
Who Should Use Koinly?
✓ Perfect For:
- • Active traders using multiple exchanges (Binance, Coinbase, Kraken, etc.)
- • DeFi users involved in yield farming, liquidity pools, or lending
- • NFT collectors buying and selling across marketplaces
- • International investors needing non-US tax reports
- • Anyone wanting automation to save time on tax prep
- • Portfolio trackers who want real-time P&L alongside tax features
✗ Not Ideal For:
- • Ultra-high-volume day traders (10,000+ transactions) - expensive at highest tier
- • Those wanting phone support - Koinly only offers email support
- • Users needing CPA hand-holding - consider ZenLedger or TokenTax's pro services
- • Bitcoin-only holders with minimal activity - may be overkill for simple portfolios
Consider Alternatives If:
- • You're a complete beginner wanting the simplest possible interface → Try CoinTracker
- • You're a DeFi power user with very complex transactions → Try TokenTax
- • You're on a tight budget → Try CoinLedger
- • You're worried about audits → Try ZenLedger (includes audit defense)
Frequently Asked Questions
Is Koinly safe and secure?
Yes. Koinly uses bank-level encryption (256-bit SSL) and only requests read-only API access from exchanges, meaning it cannot withdraw funds. Your data is encrypted both in transit and at rest. The company is registered in the UK and complies with GDPR. Over 500,000 users trust Koinly with their crypto tax data.
Does Koinly work with my exchange?
Almost certainly yes. Koinly supports 600+ exchanges and wallets including all major platforms (Binance, Coinbase, Kraken, Crypto.com, Gemini, etc.). If your exchange doesn't have API support, you can import via CSV file. You can check the full list of supported exchanges on Koinly's website.
Can I try Koinly before paying?
Yes. Koinly offers a completely free plan that includes portfolio tracking and transaction imports for up to 10,000 transactions. You only need to upgrade to a paid plan when you're ready to generate tax reports. This lets you test the platform and ensure all your transactions sync correctly before paying.
How accurate is Koinly?
Very accurate when transactions are properly categorized. Koinly's AI categorization gets it right 90%+ of the time, and you can always manually review and adjust. The platform is used by professional accountants and has been audited by multiple tax authorities without issues. However, accuracy ultimately depends on correct data from your exchanges and proper categorization of edge cases.
What if I made crypto trades in previous years?
Koinly supports unlimited historical data. You can import transactions from any year, calculate taxes for past years, and generate reports for amended returns if needed. All paid plans include unlimited tax years at no extra cost.
Does Koinly handle staking rewards?
Yes. Koinly automatically detects and categorizes staking rewards from major exchanges (Coinbase, Kraken, etc.) and on-chain staking (Ethereum, Cardano, etc.). Rewards are treated as income at fair market value when received, with the cost basis set for future capital gains calculations when sold.
Can my accountant use Koinly reports?
Absolutely. Koinly generates standard tax forms that accountants are familiar with (Form 8949, Schedule D for US, etc.). Many tax professionals specifically recommend Koinly to their crypto clients. You can export reports in PDF or CSV format to share with your accountant.
What if I find an error in my report?
You can edit any transaction manually in Koinly. The platform provides full transparency - you can see exactly how it calculated your gains and adjust categorizations, cost basis, or dates as needed. Changes update your tax reports instantly. Koinly also has detailed guides for common correction scenarios.
Does Koinly support multiple cost basis methods?
Yes. Koinly supports FIFO (First-In-First-Out), LIFO (Last-In-First-Out), HIFO (Highest-In-First-Out), and Specific Identification depending on your country. US users can choose any method, while some countries (like UK and Canada) require specific methods that Koinly applies automatically.
Can I get a refund if I'm not satisfied?
Koinly doesn't offer refunds, but you can use the free plan to fully test the platform before purchasing. Import all your transactions, review categorizations, and verify everything is correct. Only upgrade to generate the actual tax report once you're confident it's accurate.
How long does Koinly keep my data?
Your data is stored indefinitely as long as you maintain an account (free or paid). You can delete your account at any time, which permanently removes all your data from Koinly's servers. It's recommended to download your tax reports before deletion.
Does Koinly work for day traders?
Yes, but be aware of the transaction limits. The Trader plan ($179/year) supports up to 10,000 transactions. If you exceed this, you'll need the Pro plan ($279/year) for unlimited transactions. Koinly handles high-frequency trading well, including margin trading and futures.
Final Verdict
Koinly is our top recommendation for crypto tax software in 2025. After extensive testing across exchanges, DeFi protocols, NFTs, and multiple countries, we found Koinly offers the best combination of comprehensive features, ease of use, and accuracy.
While it's not the cheapest option, the time saved and potential tax savings from accurate reporting make it well worth the investment. The platform excels at handling complex scenarios that would take hours to calculate manually - from DeFi yield farming to NFT royalties to international tax reporting.
The free plan is perfect for getting started with portfolio tracking, and you can upgrade when you're ready to generate tax reports. Most users find the Trader plan ($179/year) offers the best value, supporting up to 10,000 transactions with full feature access.