Koinly

Overview

Koinly is crypto tax software. It imports your transactions from exchanges and wallets, works out your gains, losses and income, and produces tax reports you can file yourself or hand to an accountant.

According to its official website, Koinly was founded in 2019, has more than 2 million users in over 140 countries, supports 1,000+ integrations (exchanges, wallets and blockchains) and recognizes 50,000+ coins. It is self-funded, with no outside investors.

Crypto taxes are hard because every trade, swap, sale and often every reward can be a taxable event, and you need to know what you originally paid for each coin. Someone who trades on two exchanges, uses a hardware wallet and tries a few DeFi apps can easily end up with thousands of transactions a year. Koinly’s job is to turn that mess into a clear report.

How Koinly works

1. Connect your accounts

You add each exchange and wallet you use. There are three ways to do it:

• API connection to exchanges (Binance, Coinbase, Kraken, Bybit and many others): Koinly imports your history automatically and keeps it updated.
• Public wallet address for blockchains (Bitcoin, Ethereum, Solana and others): paste the address and Koinly reads the transactions from the chain. No private key is ever needed.
• CSV files exported from an exchange, for platforms without an API or for closed accounts.

Wallets and exchanges are unlimited on every plan.

2. Koinly matches and classifies transactions

Koinly then:

• Matches transfers between your own accounts (for example, a withdrawal from an exchange and a deposit into your Ledger), so they are not counted as sales.
• Labels transactions such as trades, staking rewards, airdrops, lending interest, liquidity pool deposits, margin trades and NFT purchases.
• Filters spam tokens and groups small reward transactions.
• Finds the price of every coin at the time of each transaction.

3. Review and fix

No tax software is perfect, and Koinly is no exception. Its review screen flags missing purchase history (for example, coins received from an account you did not connect), unmatched transfers and negative balances. Fixing these is the most time-consuming part, but it is essential: if Koinly does not know what you paid for a coin, it may treat the full sale price as profit.

4. Get your tax report

Koinly calculates your capital gains and income using your country’s rules and cost-basis method, such as FIFO, LIFO, HIFO, average cost, ACB (Canada) or Shared Pool (UK). You can preview the summary for free, and download the full reports once you pay.

Reports and countries

Koinly says its users come from more than 140 countries. It offers country-specific reports for places such as the USA (including IRS Form 8949, Schedule D and TurboTax export), Canada, Australia, the UK, Germany, Norway, Sweden and others. For other countries, it supports the common calculation methods and produces general international reports (capital gains, income, end-of-year holdings).

Paid plans also include a comprehensive audit report showing how every number was calculated, which is useful if a tax authority asks questions.

Koinly can export files for accountants and supports a separate workflow for tax professionals with multiple clients.

Portfolio tracking

Because Koinly sees all your transactions, it also works as a free portfolio tracker: total value, performance over time, unrealized gains and asset allocation across every wallet and exchange. Many users keep it running all year, not only at tax time. This also helps with planning: you can see which positions are at a loss before the end of the tax year.

Plans and pricing

Koinly does not use subscriptions. You pay once per tax year for the reports you need. Prices below are from Koinly’s official pricing page in October 2026.

Important details from the official page:

• Free to try: connect everything, import transactions and see your full gains summary before paying.
• Refund: full refund within 7 days of purchase if you have not generated a tax report yet.
• Upgrade by paying only the difference.
• More than 10,000 transactions: buy top-ups of 1,000 transactions in the app.
• A transaction is any deposit, withdrawal or trade you add; spam and grouped small rewards count less than you might expect.
• Unlimited reports for the tax year you paid for.
• Payment by card or crypto (BTC, ETH, DAI, USDC).

Tip: import everything first, look at your transaction count on the free plan, and only then choose a plan.

Security and privacy

Koinly never needs your private keys or seed phrase, and it cannot move your funds. When you connect an exchange, create a read-only API key with trading and withdrawal permissions turned off. Koinly states that API keys are encrypted (AES-256-GCM) before storage.

Keep in mind that a tax tool holds a complete map of your crypto wealth. In December 2025, Koinly disclosed that user email addresses were exposed through a breach at Mixpanel, an analytics provider it used; Koinly said wallets, transactions and tax reports were not affected. Such incidents can lead to targeted phishing, so be wary of emails claiming to be from Koinly, enable two-factor authentication, and delete API keys you no longer use.

Limitations

• DeFi and NFTs are hard. Complex DeFi activity (liquidity pools, bridges, leveraged positions) is often misclassified and needs manual review.
• Results depend on complete data. Missing one old exchange can distort the whole report.
• Not tax advice. Koinly calculates; it does not decide how your country treats a specific transaction. For large amounts or unusual cases, use an accountant who knows crypto.
• Country depth varies. Reports are most detailed for its main markets (US, UK, Canada, Australia, Germany, the Nordics). Elsewhere, check that the method matches local rules.

Pros and cons

Pros

• Free to import and preview gains before paying
• 1,000+ integrations, unlimited wallets and exchanges
• Automatic transfer matching and spam filtering
• Country-specific reports for major markets
• Pay per tax year, no subscription, 7-day refund
• Free portfolio tracker
• Self-funded, no investors

Cons

• DeFi, NFT and bridge transactions often need manual fixes
• Price rises quickly with transaction count
• Limited country-specific depth outside main markets
• Holds sensitive financial data (2025 email exposure via a third party)
• Not a substitute for professional tax advice

Koinly vs. alternatives

Koinly’s main advantage is its international coverage, which makes it one of the few options for investors outside the US.

Our verdict

Koinly is one of the best tools for turning a year of crypto activity into a tax report. Imports are broad, the free preview lets you check your numbers before paying, and the per-year pricing is fair for most investors.

Plan time to review your transactions, especially if you used DeFi, and remember that software does not replace local tax advice. Used carefully, Koinly can save many hours and help you avoid costly mistakes.

This review is for information only and is not tax or financial advice.

Sources

• Koinly — official site
• Koinly — About
• Koinly — Pricing
• Koinly — Security