Koinly tax software consolidates your crypto trades and generates tax reports.
Koinly is web-based crypto tax software that tracks your portfolio and calculates your tax liabilities. And when you need it, Koinly can generate ATO tax reports that you can download or export to other tax software. You can even track your NFTs on Ethereum and other popular blockchains.
At a glance
- Tracks unlimited transactions, but you will need a paid plan if you have a lot of trades.
- Supports more than 6,000 cryptocurrencies
- Multiple data imports, including API sync and CSV uploads
What we think
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. This can get pricey depending on how many transactions you have made.
What exchanges does Koinly support?
Koinly supports more than 402 exchanges, including most local Australian platforms:
- Digital Surge
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.
How much does Koinly cost?
Koinly can track an unlimited amount of transactions, but pricing is broken up into four paid tiers which will depend on how many transactions you've made.
|Plan||Annual cost (AUD)||Transaction limit||Features|
|Newbie||AUD $59||100||Everything in the free plan, plus:|
|Hodler||AUD $139||1,000||Same as the Newbie plan|
|Trader||AUD $249||3,000||Same as the Newbie plan|
|Pro||AUD $389||10,000+||Same as the Newbie plan, plus:|
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 five steps:
- Go to Koinly's site and select Sign up.
- Input your email and choose a password. Select Create an account. New users can also quickly sign up using their Coinbase or Google accounts.
- Select your base currency and home country from the drop-downs. Select Continue.
- Add your wallets and import your data by auto-syncing or uploading your transaction history.
- Select Free Plan to upgrade your account.
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.
Benefits of Koinly
- Includes Australian tax reports. Koinly can generate documents suitable for the ATO.
- Supports crypto payments. Unlike competitors, Koinly accepts both crypto — BTC, ETH, DAI or USDC — and credit or debit card payments.
- Extensive cryptocurrency support. Track transactions for more than 6,000 cryptocurrencies beyond the popular Bitcoin, Dogecoin and Ethereum.
- Share access. Form your own tax team by inviting your accountant, CPA or tax agent to access your Koinly account.
Drawbacks of Koinly
- Limited mobile app. Android and iOS mobile apps are in beta, so you must use a computer to use all of Koinly's features.
- Requires creating an account to see AUD prices.
Compare crypto tax software
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 May 2022.
Koinly reviews and complaints
Koinly is highly-rated on Trustpilot, earning a 4.6 out of 5 across more than 700 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 required manual adjustments to fix, while others cite incompatibility issues with certain exchanges. For example, one customer reported difficulty in getting accurate reporting for DeFi exchanges like Maker and Compound.
Get support in three ways:
- Email email@example.com
- Chat live with a rep through the site.
- Select Request Assistance online to complete a user ticket.