Koinly Review (2026): Crypto Tax Software, Examined Honestly
A balanced review of Koinly — how it turns your exchange and wallet history into tax reports, what it costs, which countries it supports, and who needs it.
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Crypto taxes are most people's least favorite part of the hobby — and one of the easiest places to make costly mistakes. Koinly is among the best-known tools for turning a messy trading history into a clean tax report. This review looks at how it works, what it costs, and who actually needs it.
This is educational and not financial or tax advice. Tax rules vary by country and change often — confirm specifics with a professional or your tax authority, and verify current details on Koinly's official site.
What Koinly is
Koinly is crypto tax software. You connect your exchanges and wallets, it imports your full transaction history, works out your capital gains and income across the year, and generates a country-specific tax report you (or your accountant) can file. The goal is to replace a nightmare spreadsheet with a few clicks. If the basics are new, start with our crypto and taxes overview.
How it works
You link accounts with read-only API keys or public wallet addresses — Koinly can see your history but can't touch your funds. It then matches buys, sells, swaps, transfers, and rewards, applies your country's rules, and produces the numbers. The key habit: always generate API keys with trading and withdrawal turned off, and never hand any tool a private key or recovery phrase.
Fees and costs
Koinly's model is free to track, paid to file. You can connect everything, see your gains, and preview your tax position for nothing; you only pay when you download a report, with plans typically starting around $49 per tax year and rising with transaction count. For most people the time saved easily justifies it.
Features worth knowing
- Wide integrations. Hundreds of exchanges and wallets supported.
- Many countries. Localized reports for the US, UK, Canada, Australia, and more.
- Filing exports. Works with TurboTax and similar software.
- Free preview. See the result before you pay.
Pros and cons
| Pros | Cons |
|---|---|
| Huge exchange/wallet support | Must pay to download reports |
| Free to preview your position | Cost rises with transaction count |
| Clean, guided interface | You still file the numbers yourself |
| Supports many countries | Complex histories may need review |
Who it's for
Koinly suits anyone who's traded across more than one platform and faces a real tax-reporting job — swaps, staking rewards, transfers, the works. If you've made only one or two simple buys, you may not need software at all. Compare it with alternatives on our crypto tax tools page.
Getting started
Try Koinly ↗Verdict
Koinly does the unglamorous job of crypto taxes about as painlessly as software can. The free-to-preview model means you can see exactly what you're getting before paying, and the breadth of integrations covers most people's setups. Just remember it produces the figures — filing them correctly, and following your local rules, is still on you.
Key takeaways
- Koinly turns your exchange and wallet history into a country-specific tax report.
- It's free to connect and preview; you pay only to download the final report.
- Connect with read-only API keys — never share private keys or recovery phrases.
- Best for anyone with multi-platform trading history; light users may not need it.
- Not financial or tax advice — confirm specifics with a professional and on Koinly's site.
Frequently asked questions
Is Koinly free?+
Koinly is free to connect your accounts, import transactions, and preview your gains and tax position. You only pay when you want to download a finished tax report, with paid plans typically starting around $49 per tax year and scaling with your number of transactions. Confirm current pricing on Koinly's site.
Is it safe to connect my exchanges and wallets to Koinly?+
Koinly connects using read-only API keys or public wallet addresses, meaning it can see your transaction history but cannot move or trade your funds. Always create API keys with trading and withdrawal permissions disabled, and never share private keys or recovery phrases — no tax tool needs them. This is education, not financial or tax advice.
Which countries does Koinly support?+
Koinly supports tax reporting for many countries, including the US, UK, Canada, Australia, and much of Europe, with localized report formats. Coverage and the exact forms available vary by country, so check that your jurisdiction is supported on Koinly's site.
Does Koinly work with TurboTax and other filing software?+
Yes. Koinly can export reports in formats compatible with popular tax software like TurboTax, and it generates the figures you or your accountant need to file. It calculates the numbers; you still file them through your normal tax process.
Do I really need crypto tax software?+
If you've made only a handful of transactions, you may be able to calculate gains by hand. But once you've traded across multiple exchanges and wallets, swapped tokens, or earned staking rewards, the record-keeping gets complex fast — and tools like Koinly save hours and reduce errors. Whether you need it comes down to your volume and complexity.
Related guides
More on Regulation & Tax →How Crypto Regulation Varies by Country
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Crypto Record-Keeping for Taxes: A Practical Guide
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