Koinly review: the crypto tax tool that does the boring part properly

Crypto tax software is judged on one thing: how many transactions it classifies correctly without you. On a test history of about four thousand transactions across four exchanges and two multi-chain wallets, Koinly got the overwhelming majority right on the first pass.

Importing is where it separates from cheaper tools. API connections, read-only address tracking and CSV fallbacks cover almost everything, and the free tier lets you import the whole history and inspect the numbers before paying — the correct way round for a product whose value you cannot judge until your data is loaded.

Reconciliation is the strongest feature. Where a disposal has no matching acquisition, Koinly says so, tells you which wallet the gap points to, and refuses to quietly assume a zero cost basis. That single behaviour prevents the most common and most expensive filing error in this category.

The rough edges are all in decentralised finance. Liquidity-pool entries and exits, restaking receipts and NFT mints frequently arrive unclassified, and fixing them means understanding what the transaction did before you can tell the software. Anyone with heavy on-chain activity should budget an afternoon.

Pricing is per tax year and tiered by transaction count, which suits a buy-and-hold investor and punishes an active trader. Check your count against the tiers before assuming the headline price applies to you.

Rating: 4 out of 5. For most people with holdings across a handful of exchanges and wallets, this is the fastest route from a messy history to a filing an accountant will accept.