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Koinly review

This is not an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade or use any services.

Our verdict

Koinly tax software analyses your crypto trades and generates an ATO-ready tax report.

Koinly is best for investors 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 realised and unrealised capital gains.

What sets Koinly apart is the ability to test-drive the software before paying. You can connect all of your exchange and wallet accounts and preview your capital gains for free.

However, you must pay if you want to download a tax report or generate ATO tax reports. Plans start at $69 for 100 transactions and go up to $399 for 10,000.

Pros

  • Australian tax reports. Koinly can generate documents ready for the ATO, MyTax or your tax agent.
  • Supports crypto payments. Koinly accepts crypto – BTC, ETH, DAI or USDC – and credit or debit card payments.
  • Supports over 500 exchanges and wallets. Koinly offers integrations with over 400 exchanges and more than 100 cryptocurrency wallets, ensuring easy auto-syncing of your transaction data.
  • Advanced features. Koinly also tracks DeFi transactions as well as margin trades and futures, plus it includes multiple tools designed to detect and fix any issues with your transactions.
  • Share access. Form your own tax team by inviting your accountant, CPA or tax agent to access your Koinly account.

Cons

  • Limited mobile app. Android and iOS mobile apps are in beta, so you must use a computer to use all of Koinly's features.
  • No free option. While Koinly offers a free plan you can use to track up to 10,000 transactions, you'll need a paid plan if you want to generate an actual tax report ready for the ATO.

In this guide

  • Our verdict
  • Your reviews
  • Ask a question

Koinly is an Australian service that integrates seamlessly with over 400 exchanges, 100+ wallets and more than 170 different blockchains.

You can generate a tax report in as little as 20 minutes which is made for the ATO (MyTax) or your local tax agent.

You can even track your DeFi trades, staking and NFTs on Ethereum and other popular blockchains.

At a glance

  • Comprehensive coverage of most popular exchanges, wallets and DeFi trading platforms
  • Supports more than 20,000 cryptocurrencies
  • Multiple data imports, including API sync and CSV uploads

We sat down and spoke to the team from Koinly

What exchanges does Koinly support?

Koinly supports more than 500 exchanges and wallets, including most local Australian platforms:

  • Binance
  • Swyftx
  • CoinSpot
  • Coinbase
  • Crypto.com
  • Gemini
  • eToro
  • CoinJar

If Koinly doesn't support your exchange or wallet, you can import your transaction history as a CSV or EXL file, or manually add your transactions.

Juan Peña's headshot

"Koinly is very easy to use. They have easy guides on how to set up the APIs with most exchanges, but there are some things that I figured out by trial and error. You need to make sure that when you set up the API with each of your exchanges, that the start date of the import is from the very first time you started using it otherwise the report will not be accurate. The first time my earnings were showing very high and it was because Koinly couldn't find the initial value of my purchases due to me not linking all my accounts."

Juan Peña
Finder crew member

How much does Koinly cost?

Koinly can track an unlimited amount of transactions, but pricing is broken up into 4 paid tiers which will depend on how many transactions you've made.

Keep in mind the free plan allows you to view your transactions and access many of the premium features, but you won't be able to export a tax report.

PlanAnnual costTransaction limitFeatures
Basic (no tax report)Free10,000
  • Unlimited wallet and exchange integrations
  • CSV file imports
  • Portfolio tracking
  • Profit, loss and capital gains preview
  • Supports multiple cost-basis accounting methods
  • Wallet-specific cost tracking
Newbie$69100Everything in the free plan, plus:
  • International tax reports, including ATO
  • Comprehensive audit report
  • TurboTax, TaxACT and H&R Block exports
  • Custom file imports
Hodler$1491,000Same as the Newbie plan
Trader$2993,000Same as the Newbie plan
Pro$39910,000+Same as the Newbie plan, plus:
  • Email support

Users can upgrade to a paid plan with a credit/debit card or with supported cryptocurrencies – BTC, DAI, ETH, USDC.

How to sign up for Koinly

Anybody can sign up for a Koinly account in 5 steps:

  1. Go to Koinly's site and select Sign up.
  2. Input your email and choose a password. Select Create an account. New users can also quickly sign up using their Coinbase or Google accounts.
  3. Select your base currency and home country from the drop-downs. Select Continue.
  4. Add your wallets and import your data by auto-syncing or uploading your transaction history.
  5. Select Free Plan to upgrade your account.
Go to Koinly's website

Required information

Provide your name and email address to get started. To set up auto-sync, provide the read-only APY key from your exchange, or link a blockchain wallet address. No confidential details like passwords are required.

Is Koinly safe to use?

Yes. Koinly discloses security measures and best practices on its site that include:

  • End-to-end encryption of your data, including data "at rest" – or data stored on its site.
  • Third-party audits of its code base and infrastructure to reveal and fix issues.
  • A+ score on SSL Labs tests, which is the highest industry rating for web server security.
  • Third-party storage of your payment details through Stripe, which is used to process your payments.

There have been no reported security breaches at Koinly as of June 2023.

Koinly reviews and complaints

Koinly is highly rated on Trustpilot, earning a 4.8 out of 5 across more than 1,200 reviews. Customers rave that the software is easy to use and up-to-date with the latest in crypto developments. Many users also compliment its helpful customer service.

Some users complain about inaccuracies and errors that require manual adjustments to fix, while others cite incompatibility issues with certain exchanges. For example, 1 customer reported difficulty in getting accurate reporting for DeFi exchanges like Maker and Compound.

Customer service

Get support in 3 ways:

  • Email support@koinly.io
  • Chat live with a rep through the site
  • Select Request Assistance online to complete a user ticket

Koinly alternatives

Price disclaimer: Last verified 19 June 2023. Prices are subject to change and should be used as a general guide only.
1 - 3 of 7
Name Product GXFCY-PTR Pricing by tier (per year) Supported exchanges
Koinly Crypto Tax Reporting
  • Newbie AUD $69 ⁠— 100 trades
  • Hodler AUD $149 ⁠— 1,000 trades
  • Trader AUD $299 ⁠— 3,000 trades
  • Pro AUD $399 ⁠— 10,000+ trades
Supports all major exchanges
Use code FINDER23 for 30% off your first tax report! T&Cs apply.
Koinly generates crypto tax reports built to comply with Aussie tax guidelines for 750+ exchanges, wallets and integrations.
Crypto Tax Calculator Crypto Tax Reporting
  • Rookie AUD$49 — 100 transactions
  • Hobbyist AUD$99 — 1,000 transactions
  • Investor AUD$249 — 10,000 transactions
  • Trader AUD$399 — 100,000 transactions
160+ Integrations
Australian made tax software with 3500+ integrations, ATO ready tax reports and support for all financial years.
Syla Crypto Tax Reporting
Syla Crypto Tax Reporting
  • Budget - AUD $59 - 10K transactions and ATO tax report
  • Assurance - AUD $149 - Budget + assurance reports
  • Tax Saving - AUD $249 - Assurance + lowest tax
  • Private Wealth - AUD $389 - 100K transactions + Tax Saving + Trust, Company and SMSF accounts
500+ integrations
Use the discount code FINDER10 to get 10% off the first year subscription.
Affordable tax software with a generous free plan and tools to minimise tax.
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Sources
Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the cryptocurrencies discussed.

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