Koinly: Simplifying Crypto Tax Reporting and Portfolio Management

As cryptocurrency adoption continues to grow, so does the complexity of managing crypto transactions, especially when it comes to taxes. With thousands of digital assets, countless exchanges, and evolving tax regulations, calculating capital gains, losses, and income manually is both time-consuming and error-prone. Koinly is a powerful crypto tax software designed to solve this problem by automating the tax reporting process and helping users stay compliant with local tax laws.

What is Koinly?

Koinly is an online cryptocurrency tax and portfolio tracking platform that enables users to calculate their crypto taxes quickly and accurately. Launched in 2018, Koinly has become a trusted solution for crypto investors, traders, and even tax professionals. It supports over 6,000 cryptocurrencies, 700+ exchanges, 100+ wallets, and is available in 20+ countries, including the United States, United Kingdom, Canada, Australia, Germany, and more.

Koinly helps users track their entire crypto portfolio, monitor performance, and generate fully compliant tax reports based on the user's location and tax rules. Whether you’re involved in simple trades, complex DeFi activity, or earning income through staking and airdrops, Koinly automatically organizes all your transactions and prepares the necessary tax documents.

Key Features of Koinly

1. Automatic Data Import

Koinly makes it easy to import your transaction history by connecting directly to exchanges like Binance, Coinbase, Kraken, and wallets like MetaMask, Ledger, and Trezor. You can import via API, CSV files, or public wallet addresses, making it suitable for all types of crypto users.

2. Smart Tax Calculations

Koinly supports tax calculation methods such as FIFO, LIFO, and Specific Identification. It automatically classifies transactions into categories like buys, sells, transfers, staking rewards, airdrops, and more. This ensures that every taxable event is accurately captured and categorized.

3. Global Tax Report Support

Whether you're filing taxes in the U.S., UK, Canada, Australia, or elsewhere, Koinly generates country-specific tax reports such as Form 8949 (USA), Capital Gains Summary (UK), and Transaction Reports for accountants. These reports are downloadable in various formats (PDF, Excel, CSV) and can be imported into platforms like TurboTax or shared with a tax professional.

4. Real-Time Portfolio Tracking

Beyond taxes, Koinly offers a full overview of your crypto portfolio. You can view your holdings, track asset performance over time, and see real-time capital gains/losses, allowing you to make informed trading decisions.

5. DeFi, NFTs, and More

Koinly supports DeFi protocols on Ethereum, BNB Chain, Polygon, and others. It also tracks NFT transactions, margin trading, futures, liquidity pools, and staking rewards, providing an all-in-one solution for advanced crypto users.

Why Choose Koinly?

• Saves time and reduces errors in crypto tax reporting.
  
  

• Helps avoid penalties by ensuring tax compliance.
  
  

• Suitable for beginners and experienced traders.
  
  

• Offers a free plan for basic portfolio tracking and paid plans for full tax reports.
  
  

• Provides customer support, in-app help articles, and a responsive team for tax-related queries.
  
  

Conclusion

Koinly is a must-have tool for any crypto investor looking to simplify tax season and gain better insights into their digital asset portfolio. By automating transaction imports and tax calculations, it reduces the stress of tax reporting and ensures you stay compliant with your local regulations. Whether you trade occasionally or are deeply involved in DeFi, Koinly makes crypto taxes easy, accurate, and stress-free.