Koinly is a crypto tax tracker and cryptocurrency accounting system that enables people and firms to calculate their tax obligations for transactions with cryptocurrencies. Koinly receives data from exchanges, wallets, and blockchains related to transactions performed and performs automatic calculation of capital gains, income, and taxes due. It also creates reports that can be used during the tax filing process or shared with the accountants.

 

The platform is designed to help users perform various actions with cryptocurrencies, including spot trades, DeFi operations, staking, liquidity pools, NFTs, mining, and airdrop programs. As per the firm, Koinly supports 900+ exchanges and wallets and operates in 20+ countries.  Furthermore, it provides tax forms, including Form 8949 and Form 1099-DA, for its users. 

 

Koinly Details:

 

Attribute	Details
Primary Focus	Cryptocurrency Tax Reporting and Portfolio Tracking
Supported Integrations	900+ Exchanges and Wallets
Supported Countries	20+
Tax Forms	Form 8949, Form 1099-DA
Tax Software Integrations	TurboTax, FreeTaxUSA
Best For	Crypto Investors, Traders, Accountants, Tax Professionals, DeFi Users, NFT Investors
Competitors	CoinTracker, CoinLedger, CoinTracking, TokenTax, Crypto Tax Calculator, Blockpit, Recap

Key Features of Koinly:

 

• Supports over 800 integrations with cryptocurrency exchanges, wallets, blockchains, and crypto services.
• Automates transaction tracking for spot trading, DeFi, staking, lending, and NFT transactions.
• Koinly matches wallet transfers within 12 hours and treats them as non-taxable self-transfers.
• Track your portfolio by showing realized and unrealized gains and losses on one page. 
• Koinly supports FIFO, LIFO, HIFO, ACB (Average Cost Basis), Share Pooling (UK), and Optimised HIFO (USA) for proper tax calculation.
• Includes reconciliation tools for detecting missing or duplicate transactions.
• Provides accountant-specific tools for handling multiple client portfolios.

 

Products of Koinly:

 

• Crypto Tax Calculator – Calculates capital gains, losses, and taxable income.
• Crypto Tax Reports – Generates tax reports for supported tax authorities.
• Crypto Portfolio Tracker – Tracks cryptocurrency holdings, portfolio value, and performance.
• Crypto Profit Calculator – Estimates realized and unrealized profits.
• Tax Reports for Accountants – Generates reports for tax professionals and accountants.

 

Pros of Koinly:

 

• Supports 900+ exchanges, wallets, and blockchain integrations.
• Imports transactions automatically using API, CSV files, and wallet addresses.
• Supports DeFi, NFTs, staking, mining, liquidity pools, and airdrops.
• Generates tax reports compatible with Form 8949, Form 1099-DA, TurboTax, and FreeTaxUSA.
• Includes portfolio tracking, cost basis calculation, and tax-loss harvesting tools.
• Offers features for both individual crypto investors and professional accountants.
• Certified with SOC 2 Type II and ISO 27001 security standards.

 

Cons of Koinly:

 

• Advanced tax reports and premium features require a paid subscription.
• Complex DeFi or unsupported transactions may require manual review.
• Available tax reports and features vary depending on the user's country.
• Does not provide legal, financial, or tax advice.
• Tax calculations depend on the accuracy and completeness of imported transaction data.
• Some newly launched exchanges or blockchain protocols may not be supported immediately.

 

Security Features of Koinly:

 

• SOC 2 Type II certified.
• ISO 27001 certified.
• API-based exchange synchronization.
• Secure wallet address connections.
• Read-only exchange API integrations.
• Privacy-focused transaction imports.