Koinly Experiences & Review 2026: How Good is the Crypto Tax Tracking Tool?

A tracking tool like Koinly is important nowadays to keep your tax declaration in order with the tax authorities. In our Koinly review, we took a closer look at the tool and in this article, we share our Koinly experiences, explain what the tool does well, and where we still see room for improvement. You will also find out whether Koinly’s reports are sufficient for your tax declaration in Germany, Austria, or Switzerland.

What is Koinly?

Koinly is a company founded in 2018 by Robin Singh, based in London, and with its eponymous tool, it provides a tracker for your crypto portfolio to monitor and analyze it. It also allows you to obtain your data optimized for tax declarations.

Koinly can be used in more than 140 countries and is compatible with over 1,000 crypto exchanges and crypto wallets. The free version allows up to 10,000 transactions, including portfolio tracking. Tax reports for numerous countries are supported, and the automatic import of wallets and exchanges eliminates the need for manual data maintenance.

Koinly Features at a Glance

We will now take a look at Koinly’s features in our review.

Portfolio Tracker

The portfolio tracker is the core of Koinly and can be used for free. Koinly supports crypto exchanges as well as the most common wallet providers. And even if you trade less common cryptocurrencies, Koinly allows you to collect transaction data with more than 25,000 supported cryptocurrencies on all major blockchains.

On the dashboard, you can see your realized and unrealized gains, your portfolio’s cost basis, and an overview of incurred fees and deposits at a glance. This makes Koinly suitable even if you don’t need a tax report and just want to use the tool as a portfolio tracker.

Profit and Loss Calculator

When looking at your portfolio, you can always see its current performance. The dashboard shows you the total costs for your portfolio, meaning how much you have spent, and you can also see unrealized gains or losses at a glance.

Automatic Transaction Import

It is particularly practical that you can automatically import all your transactions into Koinly. To do this, you connect your account of the respective crypto exchange with Koinly via a read-only API interface. Alternatively, import via CSV, ZIP, or GZ file is also possible. Koinly automatically synchronizes the data, so new trades are continuously recorded. Important: The read-only APIs do not give Koinly access to your coins. The tool can only read data, but cannot execute transactions.

DeFi and NFT Detection

It is particularly helpful that Koinly itself detects NFTs in your portfolio and also includes used DeFi protocols. For example, if you have used a DeFi protocol for yield farming, this will appear in your reports, as will airdrops of NFTs or other special cases. Staking, lending, and farming transactions, as well as futures and margin trading, are also automatically recognized and categorized correctly for tax purposes. According to Koinly, it covers over 7,000 DeFi protocols, making it one of the tools with the best DeFi detection on the market.

Tax Reports

Koinly generates tax reports for over 20 countries. For Germany, the data for Annex SO is provided. For the UK, there is the HMRC Capital Gains Summary, for the USA various IRS forms, and for Canada the CRA Schedule 3.

However, this is a clear disadvantage compared to Blockpit and CoinTracking, both of which focus on the DACH region due to their headquarters in Austria and Germany respectively, and offer a ready-made Annex SO as a PDF for direct upload or an export to WISO and SteuerGo. With Koinly, you have to manually transfer the figures to Elster or your tax tool.

Koinly Costs and Prices

Koinly offers various subscription models. The positive news first: You can monitor up to 10,000 transactions even with the free model. If you want to create a tax report, however, you must subscribe to one of the paid plans. In the following table, you will find a clear breakdown of the differences between the individual models:

Package	Price	Transactions	Tax Report
Free	€0	10,000	No
Newbie	€49 / tax year	100	Yes
Hodler	€99 / tax year	1,000	Yes
Trader	€179 / tax year	3,000+	Yes

Payment is possible by credit card, and sometimes with cryptocurrencies. All paid packages are per tax year and include the full tax report as well as live chat support.

But beware: Even if you exchange one cryptocurrency for another, it is a taxable transaction in Germany and Austria. So you cannot avoid crypto taxes by exchanging your coins for other cryptocurrencies like stablecoins.

Which package for whom?

If you only trade cryptocurrencies rarely and just want to keep an eye on your portfolio, the free version is perfectly sufficient. For HODLers with few trades per year, the Newbie package (€49) is enough. Active investors with multiple exchanges and DeFi activities are best served with the Hodler package (€99). And professional traders with futures, margin trading, and thousands of transactions opt for the Trader package (€179).

Open a Koinly Account and Create a Tax Report: Step-by-Step

We also created an account for our Koinly review. The registration process with Koinly is very simple.

Registration and Login

In addition to registering via email, you can also directly connect your Google account or even your Revolut account. Registration takes less than two minutes. A KYC procedure (identity verification) is not required, as Koinly does not have access to your coins.

Connect Exchanges and Wallets

After registration, you connect your crypto exchanges and wallets with Koinly. This works either via an API interface (recommended, as data is automatically synchronized) or via a manual CSV import. Koinly offers a step-by-step guide for each supported exchange, making the process understandable even for beginners. In our test, connecting to Bitvavo and Binance each took less than three minutes.

Review Transactions

Once your exchanges are connected, Koinly automatically imports all transactions. The tool displays warnings for missing data and detects potential duplicates. We still recommend manually checking the imported transactions. Koinly offers helpful filters to quickly identify incorrect or incomplete data.

Export Report

Once all transactions are correctly recorded, you can create your tax report with one click. Koinly generates the report as a PDF or CSV, optimized for the respective country. For Germany, you receive the data for Annex SO, which you then manually transfer to Elster or a tax tool like WISO or SteuerGo. The entire process from registration to the finished report took less than 20 minutes in our test.

Our Koinly Experiences with User-Friendliness

We rate it negatively that Koinly does not yet offer an iOS app. Especially nowadays, the mobile-first approach is particularly important. At least Android users can download the Koinly app from the Play Store.

Otherwise, we find Koinly’s user interface clear, but the website is mostly only available in English, while the homepage is initially in German, suggesting that the tool can also be used in German. Important: The tax report for German, Austrian, and Swiss authorities is generated in German. So you don’t have to worry about any translation.

Interface and Design

Koinly’s user interface appears modern and tidy. The dashboard is clearly designed and shows the most important information at a glance. Compared to CoinTracking, whose interface is a bit outdated, Koinly makes a fresher visual impression. However, it doesn’t quite match the clarity of Blockpit in our test.

Language

The biggest hurdle for German-speaking users: The entire tool is in English. Navigation, settings, transaction overview, and support are exclusively available in English. Only the tax report itself is generated in German if you specify Germany, Austria, or Switzerland as your country of residence. Those who are uncomfortable with English-language software are better off with CoinTracking or Blockpit.

Onboarding and Guides

The onboarding process is well-designed. After registration, Koinly guides you step-by-step through the setup. For each supported exchange, there is a detailed guide with screenshots. Additionally, Koinly offers an extensive Help Center, video tutorials, and a community forum where experienced users answer questions.

Koinly Taxes: What is Supported in Which Country?

Depending on your tax residence, you will need different forms from Koinly. In this section, we will take a closer look at the individual reports generated by Koinly.

Germany (FIFO, Annex SO)

For Germany, Annex SO is particularly important. You must also ensure that profits from the sale of cryptocurrencies within the one-year holding period are taxable, provided they exceed the tax-free limit of €1,000. Koinly automatically takes the holding period into account and calculates your taxable profits using the FIFO (First In, First Out) method. While Koinly provides the data for Annex SO, you must then manually enter it into Elster or your tax tool. A direct export to WISO or SteuerGo is currently not possible. For most users, this means about 10 to 15 minutes of additional effort. The data is clearly prepared and can be transferred without specialized tax knowledge. You can find more about the taxation of cryptocurrencies in Germany in our detailed article.

Austria (27.5% KESt)

For Austrian users, Koinly automatically calculates the capital gains tax (KESt) of 27.5% on crypto profits. Since March 2022, new tax rules apply in Austria, which provide for a flat-rate taxation of all crypto profits, regardless of the holding period. Koinly takes this regulation into account. Here too, the export is a PDF that you submit to your tax office. Details on the taxation of cryptocurrencies in Austria can be found in our tax article.

Switzerland (Wealth Tax, Staking as Income)

For Swiss crypto traders, the situation is less complicated, and tracking individual transactions is more beneficial for their own overview. In Switzerland, private capital gains from the purchase and sale of cryptocurrencies are generally tax-free. However, your crypto holdings must be declared as assets, and income from staking is considered taxable income. Koinly helps you determine the market value of your portfolio on the December 31st cut-off date. We have separately prepared all details on the taxation of cryptocurrencies in Switzerland.

Other Countries

If you do not live in the DACH region, Koinly is likely the best crypto tax tool, as it also covers many other countries such as the USA or Great Britain. For the USA, Koinly supports various IRS forms (Form 8949, Schedule D), for Great Britain the HMRC Capital Gains Summary, and for Canada the CRA Schedule 3. In total, over 100 countries are supported, making Koinly an international market leader.

Is Koinly safe and reputable?

Since Koinly is based in London, they must comply with GDPR, which is essentially the British equivalent of the DSGVO. The company is also SOC 2 Type II and ISO 27001 certified, which requires regular external audits of the security infrastructure.

You can protect your account via two-factor authentication. All data is encrypted with AES-256-GCM, both in transit and at rest. Suspicious login attempts are reported via email.

This is important to know: Even if you connect your Koinly account to your wallet via API, Koinly cannot access your coins. These are read-only API keys. This means Koinly can only read the data from your wallet or crypto exchange, but cannot make any changes for you.

Koinly Customer Service and Support

We are not entirely convinced by Koinly’s customer service. First of all, support is not fully available in German. And phone support is not offered either. Especially in the cryptocurrency sector, it is unusual to provide a telephone hotline, but precisely for this reason, we would welcome it. Because this way, providers could stand out from their competition.

In addition to the ticket system via email, you can also reach Koinly support via live chat. In our test, we took a closer look at the live chat and asked 3 questions. The result here was quite good. Customer service responded within a few minutes, was polite and courteous, and answered all questions correctly. Via email, the average response time according to the provider is around 12 hours. We will continue to constantly test Koinly support in the coming months and incorporate this into our Koinly rating.

In addition to the Help Center, we were particularly impressed by the Community Forum, where app users can exchange ideas on all possible topics related to cryptocurrencies. It is rare that your query has not already been asked by someone else in exactly the same way. Through the community forum, you can often find an answer to any questions and other valuable tips for your crypto tax declaration.

Koinly Pros and Cons

Koinly’s advantages are quickly clear: You can connect over 800 crypto exchanges and wallets to your Koinly account and save yourself manual work. Koinly is therefore particularly suitable for DeFi protocols and international traders. The free plan with 10,000 transactions is unrivaled in its generosity. No other tool on the market offers anywhere near as many free transactions.

Koinly must primarily face criticism because neither the tool nor the support is available in German. Furthermore, there is no automatic export of Annex SO. Although the data is available and correctly prepared, it must be manually transferred to Elster or a tax tool. For German users who want a fully automated solution, CoinTracking or Blockpit are the better choice. There is also no free tax report with Koinly.

Conclusion: Who is Koinly for?

Basically, Koinly is suitable for crypto investors from Germany, Austria, and Switzerland. However, our Koinly review shows that the tool is particularly suitable for international crypto investors or traders with many thousands of transactions on various exchanges.

Additional effort for German investors arises from the fact that they have to manually enter the data for Annex SO and direct export is not possible. Those looking for a completely German-language solution with automatic Annex SO are better off with CoinTracking or Blockpit.

However, if you are deeply involved in the DeFi sector, use many exchanges, or live outside the DACH region, Koinly offers the most comprehensive crypto tax tool on the market. The free plan with 10,000 transactions allows you to test the tool risk-free before deciding on a paid package.

If you are not convinced by Koinly, you can find out which provider is best suited for your tax declaration in our crypto tax tool comparison. In addition, we also have direct comparisons, through which you can see providers side-by-side at a glance.

Frequently Asked Questions about Koinly

• Is Koinly safe?

  Yes, Koinly is a reputable and secure crypto tax tool. Even if you connect your wallets to Koinly, Koinly cannot access your cryptocurrencies, as API keys only require read-only access.

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• Is Koinly free?

  There’s a free Koinly version to track up to 10,000 transactions. However, you’ll need a paid plan as soon as you want to download an official tax report.