Koinly
Global crypto tax calculator supporting 20+ countries.
About Koinly
Koinly pulls transaction history from 700+ exchanges, wallets, and DeFi protocols, then applies country-specific tax rules to produce ready-to-file reports for clients in the US, UK, Australia, Canada, Germany, and 15+ other jurisdictions. Day-to-day, that means reconciling Coinbase buys against MetaMask swaps, identifying cost-basis mismatches across chains, flagging staking rewards as income at the correct fair-market value, and categorizing NFT sales by holding period. For a practice with even a handful of crypto-active clients, this replaces hours of manual spreadsheet work per client per year. Koinly fits best in two scenarios: individual crypto investors filing across multiple countries, and accounting firms that have taken on crypto clients and need a scalable workflow rather than one-off spreadsheets. Solo practitioners handling fewer than five crypto clients may find the paid tiers hard to justify. The weak spots are real. The free plan lets you import and categorize transactions but locks you out of generating any tax report, so every paying client requires a separate paid plan under their own account. DeFi reconciliation on newer or low-liquidity protocols regularly produces unmatched transactions that require manual correction. Customer support response times are slow outside business hours, and the platform offers no direct QuickBooks or Xero journal entry export without a manual workaround.
Best for
International crypto investors needing tax reporting across multiple countries and asset types
Key Features
- 700+ cryptocurrency exchange imports
- Multi-country tax report generation
- DeFi and staking transaction tracking
- Tax loss harvesting optimization
- NFT transaction categorization
Pros & Cons
Pros
- Generates jurisdiction-correct tax reports for 20+ countries, including HMRC capital gains summaries, IRS Form 8949, and ATO myTax-compatible outputs
- Imports transaction history from 700+ exchanges and wallets via API or CSV, covering Coinbase, Binance, Kraken, MetaMask, and Uniswap
- Tracks DeFi protocol interactions including liquidity pool deposits, yield farming rewards, and token swaps with automatic income classification
- Tax-loss harvesting view shows unrealized losses across the portfolio at a glance, letting advisors act before year-end
- NFT transactions are categorized by asset type and holding period, not lumped into a generic crypto bucket
- Accountant dashboard lets a firm manage multiple client portfolios under one login without each client needing a paid plan independently
Cons
- Free plan produces zero tax reports — every client who needs a filing-ready document requires a paid plan starting at $49 per tax year
- DeFi reconciliation on smaller or newer protocols frequently leaves unmatched transactions flagged as errors that require manual line-by-line review
- No native journal entry export to QuickBooks Online or Xero; getting data into your GL requires a CSV workaround or a third-party connector
- Cost-basis calculations for high-frequency traders with thousands of transactions per year can be slow to process and occasionally produce rounding errors
- Support is email-only and response times in peak filing season stretch to 48+ hours, which is a problem when a client's return is due
- Historical data corrections cascade and require full recalculation, making mid-year amendments time-consuming for complex portfolios
Ledger Brief Take
Purpose-built for crypto taxation complexity that general bookkeeping software simply can't handle, with genuine depth in DeFi protocols and cross-border compliance rules rather than basic transaction categorization. The 700+ exchange integrations and country-specific tax logic make this essential infrastructure for any practice serving crypto clients, not just a convenience add-on.
Frequently Asked Questions
Common questions accountants ask about Koinly.
What does Koinly's free plan actually include?
The free plan allows unlimited transaction imports and portfolio tracking but does not generate any tax reports. To download a capital gains report, Form 8949, or any country-specific filing document, you need a paid plan. Plans start at $49 per tax year for up to 100 transactions, scaling to $179 for 1,000 transactions and $399 for 10,000+.
Does Koinly integrate with QuickBooks or Xero?
Not natively. Koinly does not push journal entries directly into QuickBooks Online or Xero. You can export a transaction CSV and import it manually, or use a third-party connector, but there is no one-click sync. If GL integration is a hard requirement for your practice, evaluate TaxBit or Cryptio instead.
How does Koinly compare to CoinTracker and TaxBit?
Koinly covers more countries than CoinTracker, which is US-centric, making it the stronger choice for international clients. TaxBit targets enterprise and exchange clients with deep API infrastructure but is significantly more expensive for small practices. Koinly sits in the middle: better international coverage than CoinTracker, lower cost than TaxBit, weaker GL integration than both.
Is Koinly suitable for a firm managing 50+ crypto clients?
Koinly offers an accountant dashboard for multi-client management, but each client's tax report still requires a paid plan under their account. At volume, costs add up quickly. Firms managing 50+ active crypto clients should negotiate directly with Koinly for partner pricing or evaluate whether an enterprise platform like Cryptio offers better per-client economics.
How does Koinly handle DeFi and staking transactions?
Koinly recognizes most major DeFi protocols including Uniswap, Aave, and Compound, and classifies staking rewards as income at the fair-market value on the date received. Liquidity pool entries and exits are tracked as taxable events. Accuracy drops on smaller or newer protocols where transaction parsing is incomplete, requiring manual categorization.
Is client transaction data secure on Koinly?
Koinly connects to exchanges via read-only API keys, meaning it cannot initiate trades or withdrawals. Data is encrypted at rest and in transit. The platform does not publish a SOC 2 report, which may be a concern for firms with formal data security requirements. Review Koinly's privacy policy before onboarding clients with confidentiality obligations.