As crypto regulations tighten worldwide, accurate tax reporting is becoming essential. Koinly is a leading crypto tax software that automates capital gains, income, and tax reports across multiple exchanges and wallets.
But is it the best tool for your crypto taxes? Let’s break down its features, pricing, pros & cons, and how it compares to other tax software like CoinTracker and coinledger.
🔹 Key Features of Koinly
1. Automated Crypto Tax Calculations
Koinly automates the entire tax process by tracking your crypto transactions, gains, losses, and taxable events.
✅ Capital Gains & Losses – FIFO, LIFO, and ACB methods supported.
✅ Income Tracking – Handles staking, mining, airdrops, and DeFi earnings.
✅ Automated Portfolio Tracking – See real-time gains & losses.
✅ Multi-Country Tax Reports – Supports USA, UK, Canada, Australia & more.
💡 Why It Matters: Instead of manually calculating hundreds of transactions, Koinly does it instantly and accurately.
2. Supports Over 700+ Exchanges & Wallets
Koinly integrates with all major exchanges, wallets, and blockchains via API or CSV import.
✅ Exchange Support – Binance, Coinbase, Kraken, Bybit, and 700+ more.
✅ Wallet Support – MetaMask, Trust Wallet, Trezor, Ledger, and others.
✅ NFT & DeFi Support – Tracks Uniswap, Aave, OpenSea transactions.
💡 Why It Matters: Whether you trade, stake, or use DeFi, Koinly can track it all automatically.
3. Crypto Tax Report Generation in Minutes
Once your transactions are synced, Koinly generates ready-to-file tax reports.
✅ Pre-Filled Tax Forms – IRS Form 8949, UK HMRC Reports, CRA Tax Forms.
✅ Export to Tax Software – TurboTax, TaxAct, and Xero integration.
✅ Audit Trail – Full transaction history for compliance & reviews.
💡 Why It Matters: Koinly makes it easy to file your crypto taxes, even for complex portfolios.
🔹 Koinly vs. Other Crypto Tax Software
| Feature | Koinly | CoinTracker | coinledger |
|---|---|---|---|
| Exchanges & Wallets | 700+ | 500+ | 450+ |
| NFT & DeFi Tracking | ✅ Yes | ✅ Yes | ✅ Yes |
| Tax Form Support | ✅ IRS, HMRC, CRA | ✅ IRS, CRA | ✅ IRS |
| TurboTax Integration | ✅ Yes | ✅ Yes | ✅ Yes |
| Free Plan | ✅ Yes (up to 10 transactions) | ❌ No | ✅ Yes (Limited Features) |
| Audit Report | ✅ Yes | ❌ No | ✅ Yes |
💡 Why It Matters: Koinly supports the most exchanges & wallets and offers a free plan, making it the best choice for most users.
🔹 Pros & Cons of Koinly
✅ Pros
✔ Easy API Integration – Syncs with 700+ exchanges & wallets.
✔ Accurate Tax Calculations – Handles capital gains, DeFi, and staking.
✔ Multi-Country Support – Works for UK, USA, Canada, and more.
✔ Ready-to-File Tax Reports – Exports to TurboTax, TaxAct, and Xero.
✔ Free Plan – Up to 10 transactions for free.
❌ Cons
❌ Paid Plans Needed for Full Tax Reports.
❌ Manual Fixes Required for Some DeFi Transactions.
❌ No Direct Filing – Exports tax forms, but you still need to file manually.
🔹 Who Should Use Koinly?
🟢 Crypto traders who need automated tax tracking.
🟢 Investors with multiple exchanges & wallets.
🟢 DeFi & NFT users who want tax compliance.
🟢 Anyone looking for easy tax report generation.
💡 Who Should Look Elsewhere?
- If you need unlimited free tax reports, coinledger may be a better choice.
- If you want direct filing, TokenTax offers built-in tax filing services.
🔹 Final Verdict: Is Koinly Worth It?
✅ YES! Koinly is one of the best crypto tax software solutions in 2025. It automates tax calculations, supports 700+ platforms, and generates ready-to-file reports.
⭐ Final Rating: 4.7/5 – The Best Crypto Tax Software for Most Users! ⭐
🔹 Where to Get Koinly?
Sign up for free at Koinly’s official website and track your first 10 transactions at no cost.
👉 Get Koinly now and simplify your crypto taxes! 🚀
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