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Koinly review 2023
Use the free plan to sync your exchanges and wallets to monitor up to 10,000 crypto transactions but you'll need a paid account to download tax reports.
Koinly can make your crypto tax reporting a breeze. The basic plan is free so you can try it out first. The free plan can be used to track your crypto portfolio and view the generated tax reports. However, you won’t be able to download them ready for you to file with Revenue. You’ll need to upgrade to one of the 3 other plans to be able to export reports. The other main difference with the paid accounts is the increased number of transactions you can import into the software.
Pros and cons
- Koinly offers 4 plans for crypto traders to choose from, including a free one, as well as support for businesses and accountants.
- Complies with tax laws in several countries including Ireland.
- You may need to manually import crypto transactions from some exchanges and wallets.
How does Koinly work?
Koinly works by calculating your crypto tax from your crypto transaction history. There are 4 plans to choose from and the plan that suits you will depend on the number of transactions you wish to import.
Customers can import crypto transactions from exchanges and wallets automatically through API or manually through CSV files.
From this data, and as long as all information is correct, Koinly can then calculate your crypto tax and generate the necessary tax reports to suit your needs. These reports can then be exported to Revenue or any other country’s tax agency supported by Koinly.
What are the main features of Koinly?
The core features of Koinly include the following:
- Free plan. Use the free plan to track your crypto portfolio. However, you won’t be able to export any of the tax reports.
- Simplify data imports. You’ll be able to connect and sync with all the exchanges and wallets you use through API or CVS files.
- Crypto portfolio tracking. Automatically track your crypto activity across all the exchanges and wallets you use.
- Supports hundreds of exchanges. Koinly supports more than 400 exchanges and 100+ wallets.
- Range of tax reports. Koinly has a range of tax reports to suit your needs, including capital gains summary, margin gains, end-of-year balance, expenses and gifts, donations and lost asset reports.
- Supports DeFi, margin trades and futures. Broad crypto support is available with all 4 plans.
- Support in several countries. Koinly supports crypto tax reporting in a number of countries including Ireland.
- View historic crypto coin prices. Koinly has the spot prices of both crypto and fiat so that your transaction history is accurate.
- Correct inaccurate tax reports. There are a number of tools that can find and fix issues with the crypto transactions you import including duplicate handling and missing transactions.
How much does Koinly cost?
Koinly has 4 plans to choose from:
Does Koinly support Irish tax?
Koinly supports customers in Ireland and can generate reports that summarise the crypto gains and losses made over a particular financial year.
Koinly uses average cost and a number of other accountancy methods to support several countries.
Is Koinly safe?
Koinly endeavours to keep all your information safe through encryption. While it can sync with exchanges and wallets to track your transactions, Koinly can’t access any other information or the crypto assets you hold.
Take a look at Koinly
Koinly scores 4.7 out of 5 based on 859 reviews and is rated Excellent on Trustpilot.
|User ratings||# of reviews||What do customers say|
|4.7 / 5||859|
*Note: Information provided is based on the reviews and rating on Trustpilot (24 November 2022).
Koinly customer support
You can contact Koinly in the following ways:
- Live online chat
- Social media
How to sign up to Koinly
- To get started with this online crypto tax reporting software, visit the Koinly website and sign up by clicking on “Calculate my taxes.”
- Enter your name, email address and password and then click “Create an account.” And that’s it. You’re signed up to the free account. You can choose which plan to sign up to depending on how many crypto transactions you plan on importing. If you’d like to export some of the tax reports that Koinly generates, you’ll need to sign up for a paid account.
- Alternatively, you have the option of signing up with your Coinbase login details or Google.
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