If you are a crypto trader, you are probably by now aware that any transactions you make are seen as taxable events. However, some traders still have trouble figuring out their crypto tax rate. If you’re one of them, worry not — you can use crypto tax software to help you out.
But which one to choose?
In our Koinly vs. CoinTracker comparison, you can find out more about the features, pricing, integrations, and other valuable information about two of the best crypto tax software.
Stay with us to see if one of these would be the perfect fit for you.
Side-by-side Comparison
For starters, check out this short overview of important highlights about Koinly and CoinTracker.
| Koinly | CoinTracker | |
| Sign-up process | Through Google or Coinbase account, Through an email address | Through Google or Coinbase account, Through an email address |
| Features and services | Error reconciliation, Cost-basis methods, Integration with TurboTax and TaxAct, DeFi and margin trading | Error reconciliation, Cost-basis methods, Integration with TurboTax and TaxAct, DeFi and margin trading |
| Integrations | 350+ exchanges, 50+ wallets, 6,000 cryptocurrencies | 300+ exchanges and wallets, 10,000 cryptocurrencies |
| Pricing | $0–$279 | $0–$199, $299 or more for the Unlimited (customized) plan |
| Security and privacy | No requirement of private keys, Data encryption | No requirement of private keys, Data encryption, SOC 2 certificate |
| Supported countries | Full support for more than 20 countries | Full support for four countries |
| Mobile app | Available for Android, iOS still in Beta mode | Available for Android and iOS |
| Customer support | Email address, live chat | Online, by submitting a request on the website |
| Customer reviews | High score | Poor score |
Sign-up Process
Let’s start with the basics. How to start using these crypto tax software?
The process is basically the same for both. The only thing required is to be at least 18 years old.
First of all, you need to create an account at Koinly or CoinTracker. Visit their official websites and click on the “sign up” option on Koinly, or the “try it free” option on CoinTracker.
Continue with providing your Google/Coinbase account or an email address. When you’ve successfully logged into Koinly or CoinTracker, the next steps are:
- Import your trades
- Preview your transactions
- Download the filled tax forms
And voila! You’re ready to go.
CoinTracker vs Koinly: Features and Services
When looking for crypto tax software, most traders pay attention to its features and services.
Let’s see what Koinly and CoinTracker have in common:
- The downloadable tax forms – both software offer Form 8949, Schedule D, capital gains report, and transactional history report. However, you can’t download them with a free plan. To do that, you’ll have to upgrade to a paid plan.
- Error reconciliation – both Koinly and CoinTracker have different kinds of error reconciliation tools. These can help crypto traders with problems referring to their crypto assets, such as missing or duplicate transactions.
- Cost-basis methods (FIFO, LIFO, HIFO, Average cost) – both software allow customers to use various cost-basis methods for tax reporting.
- Unlimited exchanges and wallets – both include auto-sync for an unlimited number of exchanges.
- Integration with TurboTax and TaxAct – after Koinly and CoinTracker complete the tax forms, you may download them and file your taxes with an accountant or export them to tax-filing software such as TurboTax and TaxAct.
As you can see, Koinly and CoinTracker offer many similar features. However, they also differ in some aspects:
- Tax-loss harvesting – currently, Koinly doesn’t offer a tax-loss harvesting tool, but CoinTracker does. However, this useful tool isn’t part of its tax compliance plans. To use it, you’ll have to purchase one of the pricier Portfolio Assistant plans (Pro or Custom).
- DeFi and margin trading – while Koinly offers these features in all plans, CoinTracker customers can only use them if they have a premium or customized plan.
Koinly vs. CoinTracker: Integrations
Koinly and CoinTracker allow automatic import of crypto trades via API and manual import of CSV files. Additionally, they both support the most popular exchanges and wallets. However, they differ in the number of available integrations.
Koinly’s integrations
Koinly supports over 350 exchanges, including:
- Coinbase
- Kraken
- Binance
- Gemini
- Bittrex
Some of the 50+ wallets that Koinly supports are:
- Uphold
- Abra
- Exodus
- Electrum
- Trezor
Moreover, Koinly supports over 6,000 cryptocurrencies that can be imported automatically and manually via more than 100 blockchains. These are the blockchains for which Koinly has an automatic import:
- Bitcoin
- Arbitrum
- Cronos
- Fantom
- Helium
Finally, Koinly also allows automatic import of crypto transactions from different DeFi platforms such as:
- Uniswap
- PancakeSwap
- SushiSwap
- Cream
- Value
- Balancer
CoinTracker’s integrations
CoinTracker supports more than 300 exchanges and wallets.
Some of the supported exchanges are:
- Binance
- BitMEX
- Bitfinex
- Kraken
- Gemini
Moreover, some wallets the platform supports include:
- Ledger
- Trezor
- Metamask
- Exodus
When it comes to DeFi, CoinTracker only supports four DeFi platforms.
- Compound
- IDEX
- Maker
- Uniswap
Although it supports fewer DeFi platforms than Koinly, it supports more cryptocurrencies — over 10,000.
CoinTracker vs. Koinly: Pricing
Both Koinly and CoinTracker offer a free plan along with their paid plans.
Check out the following pricing comparison and find out what features they include in their plans.
Koinly pricing:
| Free plan($0) | Newbie plan($49) | Hodler plan($99) | Trader plan($179) | Pro plan($279) | |
| Transactions | 10,000 | 100 | 1,000 | 3,000 | 10,000+ |
| Supported exchanges and wallets | Unlimited | Unlimited | Unlimited | Unlimited | Unlimited |
| DeFi support | ✔ | ✔ | ✔ | ✔ | ✔ |
| TurboTax and TaxAct integration | ✗ | ✔ | ✔ | ✔ | ✔ |
| Tax reports | ✗ | ✔ | ✔ | ✔ | ✔ |
| Error reconciliation | ✔ | ✔ | ✔ | ✔ | ✔ |
| Cost-basis method | ✔ | ✔ | ✔ | ✔ | ✔ |
| Margin trading | ✔ | ✔ | ✔ | ✔ | ✔ |
| Email support | ✗ | ✗ | ✗ | ✗ | ✔ |
CoinTracker pricing:
| Free plan ($0) | Hobbyist plan ($59) | Premium plan ($199) | Unlimited plan (priced individually) | |
| Transactions | 25 | 100 | 1,000 | Unlimited |
| Supported exchanges and wallets | Unlimited | Unlimited | Unlimited | Unlimited |
| DeFi support | ✗ | ✗ | ✔ | ✔ |
| TurboTax and TaxAct integration | ✗ | ✔ | ✔ | ✔ |
| Tax reports | ✔ | ✔ | ✔ | ✔ |
| Error reconciliation | ✔ | ✔ | ✔ | ✔ |
| Cost-basis method | ✔ | ✔ | ✔ | ✔ |
| Margin trading | ✗ | ✗ | ✔ | ✔ |
| Email support | ✗ | ✗ | ✔ | ✔ |
| Money-back guarantee | 30 days | 30 days | 30 days | 30 days |
Security and Privacy
Since Koinly and CoinTracker are among the best crypto software, it’s natural to assume both are invested in keeping their customers’ personal and financial data safe and secure. How do they do it?
Koinly
Koinly uses a number of measures to secure its customers’ data. Some of the security protocols include encryption, cloud hosting, confidentiality agreements, and security payments.
Most importantly, Koinly doesn’t ask for your private keys. Therefore, no one could obtain them in case of a hacker attack.
CoinTracker
CoinTracker doesn’t ask for your API keys either — it has read-only access to them. Moreover, the data you provide is encrypted.
What this means is that both software only have access to your transaction history and not your assets. Therefore, your assets will be safe, since you are the only person that can access them.
However, the major difference between these two platforms is that CoinTracker has SOC 2 certification, while Koinly doesn’t.
Supported Countries
Although initially intended for UK citizens, Koinly now supports over 20 countries. Some of them are the US, Australia, Canada, Germany, Sweden, and South Africa.
Moreover, Koinly partially supports more than 100 countries that use some of the following methods: FIFO, LIFO, highest cost, and average cost basis.
As for CoinTracker, it can only be fully used in four countries: the US, the UK, Canada, and Australia. However, like Koinly, it also offers partial support for over 100 countries that use the previously mentioned cost basis methods.
Mobile App
Are you a crypto investor who is always on the move? You have no time to sit in one place for hours and keep track of the crypto trades from your laptop?
Luckily, Koinly and CoinTracker may have a solution for that.
Koinly has its own mobile app that is available for Android. Unfortunately, the iOS version is still in Beta mode.
Meanwhile, CoinTracker also has a mobile app.
However, unlike Koinly’s, the CoinTracker app is available for both Android and iOS devices.
Customer Support
How can customers get in touch with Koinly’s and CoinTracker’s customer support? Let’s see:
Koinly
If you have questions about anything, you can contact the Koinly support team via:
- Email address
- Chat
CoinTracker
As for the CoinTacker’s support team, you can reach out to them online by submitting a request on the website. You’ll just need to provide an email address, and the support team will get back to you as soon as they can.
Customer Reviews
We’ve analyzed reviews from Koinly and CoinTracker customers to help you get a better picture of both software.
Based on user reviews on Trustpilot, Koinly has a very high rating. Meanwhile, every other CoinTracker.io review on Trustpilot gives the platform a poor score.
Now, let’s compare their advantages and drawbacks.
Koinly
| Pros | Cons |
| Helpful customer support team | Sometimes slow to sync |
| Easy-to-use software | No tax-loss harvesting feature |
| Great visual overview of all your crypto trades | |
| Free plan available | |
| Great variety of available products |
CoinTracker
| Pros | Cons |
| Easy-to-use software | Waiting a long time for a refund |
| Great mobile app | Frequent occurrence of bugs |
| Responsive customer support team | Slow integration with TurboTax |
| Beginner-friendly | |
| Reasonably priced |
All in all, users see both software as user-friendly with great customer support. However, CoinTracker customers seem to experience bugs and slow sync more frequently.
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Final Verdict: Koinly or Cointracker?
After comparing the essential aspects of the two, the question arises: which one is better, Koinly or CoinTracker?
Let’s sum up what we discovered.
When it comes to their free plans, Koinly’s includes far more features. However, CoinTracker seems to offer better prices.
Moreover, Koinly supports more exchanges, wallets, and DeFi protocols. Meanwhile, CoinTracker supports a larger number of cryptocurrencies.
Furthermore, Koinly supports more countries than CoinTracker.
All things considered, the two are very similar in terms of the features and options offered. However, Koinly is one of the greatest CoinTracker alternatives on the market. It simply offers more of everything, and crypto traders seem to trust it more.
FAQ
No, it isn’t. However, it offers a free plan with basic features and a small number of transactions.
Koinly has four paid plans: the Newbie plan ($49 per year), the Hodler plan ($99 per year), the Trader plan ($179 per year), and the Pro plan (from $279 per tax year).
Yes, Koinly is legit and safe crypto tax software. It makes sure user data is safe by encrypting it, hosting it on a cloud, and asking for read-only access to customers’ keys.
Yes. It uses multiple security measures to keep user data safe. Additionally, it has gained a SOC 2 certification, meaning its management of customer data is on a high level.
Both have their own advantages and drawbacks, satisfied and dissatisfied users. However, Koinly is the best possible CoinTracker alternative — it integrates with more exchanges, wallets, and DeFi protocols.