Discover what the internet is saying about Koinly.
Yay or nay?
Upgraded Reviews scanned the web to find out what real users are saying about Koinly.
See the highlights below and decide for yourself!
Table of contents
- ✅ Pros
- ❌ Cons
- ⚖️ Summaries
- 💸 Top Discount
✅ Pros
“Koinly supports over 350 exchanges and 50 wallets.”
“Koinly has a long list of supported countries that is still a work in progress as they add new countries regularly.”
“Unlike competitors, Koinly accepts both crypto — BTC, ETH, DAI or USDC — and credit or debit card payments.”
“It supports advanced cryptocurrency use cases like staking and decentralized finance.”
“You can track transactions for more than 6,000 cryptocurrencies beyond the popular Bitcoin, Dogecoin and Ethereum.”
“It is very easy and simple to use.”
“The platform is available to people in over 20 countries across Europe, Asia, Oceania, and the Americas.”
“It offers support for international tax filing.”
“Koinly’s numerous integrations make it easy to calculate your tax liabilities accurately.”
“Like most crypto tax software, Koinly can fill in your IRS Form 8949. But unlike Accointing and Taxbit, Koinly also includes Schedule D in your tax report.”
“You can pay with crypto.”
“It has an easy-to-use interface.”
“Free version is available.”
“Free version of the app is available.”
“You can form your own tax team by inviting your accountant, CPA or tax agent to access your Koinly account.”
“Koinly is free to use for anyone.”
“Koinly offers a plethora of information on common inquiries through its extensive FAQ section, and it also offers a variety of customer support options to help clients.”
“It tracks lending, staking, deposits, and withdrawals etc.”
“Koinly is currently accessible to users in numerous nations across Europe, Asia, Oceania, and North America, with more countries being added as the platform evolves.”
“The platform can be used for free to track up to 10,000 transactions and generate capital gains tax previews.”
“The team provide a Support section, and an FAQ page that aims to address the most common queries.”
“You can quickly generate the forms you need.”
“It operates in more than 100 countries.”
“The platform also partners with over 20 services such as BlockFi, Nexo, Delta, Lending Block, and more.”
“Koinly has many tools to help you find problems with your transactions and make them as accurate as possible when creating a crypto tax report.”
“Koinly integrates with over 6,000 blockchains and supports automatic imports for Bitcoin, Ethereum, Litecoin, and NEO.”
“Koinly allows you to connect with a variety of services via API and import key data.”
“It supports more than 6,000 cryptocurrencies and 350 exchanges.”
“App has a free version.”
“Koinly allows you to easily keep track of your crypto assets.”
“If something related to your crypto transactions just doesn’t add up, Koinly can help you with that.”
“It offers localized tax reports.”
“It offers multiple pricing tiers.”
“It is available in over 20 countries.”
“It supports over 6000 cryptos and 350 exchangers.”
“It allows users to preview capital gains.”
“Koinly complies with all the applicable tax laws in a host of different countries.”
“Koinly absolutely dominates this criterion with its integration with, essentially, every crypto platform, wallet, exchange, service under the sun.”
“The reports are downloadable in the format of PDF, CSV, and Excel.”
“They employ a set of security protocols to secure your accounts against any breaches.”
“Koinly also provides free tax guides to help you learn about how cryptocurrencies are taxed in your country.”
“Tax reports are delivered in less than 20 minutes.”
“Koinly has a free plan which includes 10,000 transactions and a lot of great features.”
“It has a completely free plan.”
“There is good documentation for how to set up connections between every single exchange on the platform.”
“It offers multi-country support and numerous integrations.”
“It is compliant with the CRA’s guidelines on crypto.”
“This platform is very easy to use.”
“Multiple tiers are available with varying costs.”
“Koinly offers both federal and international tax forms and reports.”
“It offers fast exchange and wallet syncing.”
“It can help you save a significant amount of time by helping you work out the taxes linked with your crypto activities.”
“It is a simple software that makes calculating taxes easy.”
“It is simple to use.”
“This platform is known for its high-quality customer support.”
“Robust exchange & wallet integrations are available.”
“It works in more than 20 different tax jurisdictions.”
“It supports more than 350 exchanges.”
“It offers localized tax reports for your country.”
“Koinly has a free account that you can use as a portfolio tracker.”
“You can use your coinbase or Gmail account to create a new account quickly, which is also nice.”
“Localized tax reports are available.”
“It offers affordable pricing on paid plans.”
“You can choose a pricing plan that fits your needs.”
“You can reach the Koinly support team by chat or email them directly.”
“It is suitable for both individual crypto traders, crypto investors as well as business or professional accountants that have crypto investors as clients.”
“Instead of switching back and forth between different accounts and wallets, you’ll be able to see all your trading activities in one place.”
“There are a lot of supported tax reports.”
“It is easy to import your transactions.”
“Koinly’s UI is pretty good.”
💸 Top Current Discount
❌ Cons
“You might be able to find cheaper alternatives, but you might have to make some compromises in terms of functionalities.”
“Free plan doesn’t include tax reports.”
“They do not accept crypto.”
“This app becomes more expensive for frequent traders.”
“You can’t generate tax forms with a free plan.”
“There’s no app for iOS devices.”
“It doesn’t support crypto payments.”
“You must have a paid plan to generate tax forms and see your capital gain.”
“It doesn’t accept crypto payment.”
“Paid plans get more expensive the more transactions you have.”
“It is pricey for frequent traders.”
“User interface can be a little bit unclear at times.”
“If you are on a free plan, you can’t export export reports in a ready-made format for filing.”
“There is no independent tax-loss harvesting tool.”
“There are no additional features beyond tax preparation.”
“It requires time to manually check everything is correct.”
“There is no tax-loss harvesting feature.”
“You cannot pay for services via bitcoin or any other cryptocurrency.”
“Android and iOS mobile apps are in beta, and so you must use a computer to use all of Koinly‘s features.”
“While you can add your NFT trades manually, Koinly can’t automatically sync or track NFTs yet.”
“It lacks email support for plans other than Trader/Pro.”
“Free plan doesn’t include tax forms.”
“If you’re a business entity, lend crypto or earn crypto income, you’ll need to fill out other IRS tax forms like Schedule 1, Schedule B and Schedule C on your own.”
“It is expensive for frequent traders.”
“Free account won’t let you download tax forms, so its not really free.”
⚖️ Final Say
Read the summaries of what reviewers think about Koinly below.
“Koinly is one of the most popular cryptocurrency tax solutions on the market today, thanks to it’s affordability, and ease-of-use. The solution can deliver comprehensive tax reports in less than 20 minutes, and it easily connects to all of your wallets, blockchain addresses, and exchanges.”
“All in all, Koinly provides a service aimed at an emerging crypto sector, and the ability to keep track of all your crypto activities will appeal to anyone looking to remain financially compliant and make sure that they can “cash out” or move between crypto and fiat with the minimum of headaches.”
“Koinly’s tax software lets you automatically import and track your cryptocurrency transactions.”
“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.”
“We think Koinly is a legit tool for anyone in Canada looking to complete their tax return. The CRA’s regulations on crypto can be confusing, but Koinly helps to take some of the stress away.”
“Koinly is a great app – it will streamline your crypto tax activities by collecting all relevant data, calculating, and presenting it in a neat, concise, IRS-ready format. A vast number of supported exchanges and wallets + newer crypto services like lending or cloud mining platforms separate it from its main rivals. Prices are a bit steeper than with competition but you do get more out of this app, especially if you did a lot of advanced crypto activities like margin trading or borrowing/lending.”
“Koinly is a crypto tax preparation software that you can rely on to calculate your crypto tax for the year, and you can also use it to keep track of your crypto portfolio across various exchanges and wallets.”
“Koinly has become the default option for crypto tax reporting for good reason, so there isn’t really much to look at here in terms of why you wouldn’t use this app for your tax needs every year. That said, Koinly has been able to charge higher prices than some other options on the market due to their brand recognition and overall dominance in the space. Those who trade rather frequently may especially be able to find cheaper alternatives for their tax needs. Higher costs could be a dealbreaker for some, but it’s important to remember that you get what you pay for in the crypto market.”
“Koinly is a cryptocurrency tax platform that makes it easy to keep track of the taxes you have to pay when trading cryptocurrencies. It has many interesting features, such as its precise tax reports, wide support in different countries, and an extensive blog dedicated to crypto tax news & advice.”
“To conclude, if you don’t mind paying for its services, Koinly is extremely useful for calculating your crypto tax correctly and giving you an overview of all your crypto activities.”
“Koinly is best for traders looking to streamline their crypto tax reporting. By syncing and importing your data into Koinly, you can see how much you’ve invested in crypto, get a summary of your crypto income and view your realized and unrealized capital gains.”
“In short, you use Koinly to import your data from wallets and exchanges (like Coinbase and Binance) and categorize each transaction into various taxable and non-taxable events. Once you’ve categorized all your transactions (most of this will be automated for you), your tax forms will be generated, and you can then hand them to your accountant or export them to Turbotax.”
“Koinly is an excellent crypto taxation software option for those who are looking for an easy way to manage their taxes. It is simple to use and has a lot of great features. However, it is not the cheapest option out there. If you are looking for a more affordable solution, you may want to check out some of the other options on the market.”
“Koinly is where you can just add your transactions. And Koinly will fetch market rates, matches transfers between your own wallets and generates your capital gains and income tax reports. All that done in less than 20 minutes!”
“Koinly is a great tool for keeping tabs on your portfolio and streamlining your crypto tax reports. The platform integrates with multiple exchanges, wallets, and crypto services.”