Koinly Review 2026 – Pros & Cons

Koinly is a popular crypto tax software designed to simplify tracking, gain/loss calculations, and tax report generation across multiple wallets, exchanges, and blockchains. It’s widely used by casual investors, active traders, DeFi participants, and NFT collectors alike.

✅ Pros (What Koinly Does Well)

1. Broad Integration Support

Koinly connects with hundreds of exchanges and wallets and supports automatic sync via APIs, making it easy to consolidate all your transactions in one place.

2. Global Tax Coverage

It generates ready‑to‑file tax reports tailored for multiple jurisdictions (including IRS Form 8949 for the US and capital gains reports for other countries), which helps users stay compliant worldwide.

3. Covers Complex Crypto Activity

Koinly automatically handles advanced blockchain activity, including staking rewards, DeFi earnings, liquidity pool activity, and NFT transactions — saving manual effort.

4. Audit‑Ready Exportable Reports

You can export tax reports in formats like PDF and Excel that are suitable for accountants or direct filing with tax authorities.

5. Generous Free Tier

The free account lets you import and track up to 10,000 transactions, preview gains/losses and plan your filing before buying a paid plan.

6. Flexible Accounting Methods

It supports key cost basis methods such as FIFO, LIFO, and HIFO, allowing more tailored tax calculations based on your strategy and jurisdiction.

❌ Cons (Where Koinly Falls Short)

1. Paid Plans Required for Official Tax Reports

While the free plan is useful for previewing data, you must buy a paid plan to download tax reports you can actually file.

2. Transaction Limits Can Increase Costs

Each paid tier has a transaction cap, which may push frequent traders into higher‑cost plans even if they don’t use the extra features.

3. Import/Sync Issues

Some users report CSV import problems or incomplete syncs from certain exchanges, especially non‑standard platforms.

4. Learning Curve for Advanced Features

Features like cost basis adjustments or DeFi classification can be less intuitive for beginners without guidance.

5. Limited Support for Smaller Jurisdictions

Tax templates for less common countries may be inconsistent or unavailable compared with major jurisdictions.

6. No Built‑in Tax Filing

Koinly doesn’t file your taxes directly — you export the reports and submit them yourself or via third‑party software/accountant.

👤 User Feedback & Observations

In addition to official pros and cons, some community feedback highlights real‑world experiences:

• Many users praise Koinly’s ease of use and comprehensiveness, especially for wallets/exchanges syncing.
• A minority of users report data syncing inaccuracies or categorization issues that require manual fixes.
• Some users find the support process and troubleshooting slower or less helpful in specific edge cases.

📌 Summary

Pros:
✔ Wide integration support with exchanges and wallets
✔ Country‑specific and audit‑ready tax reports
✔ Automated DeFi and NFT transaction tracking
✔ Generous free tier and flexible cost‑basis options

Cons:
❌ Official tax reports require paid plans
❌ Transaction caps can raise the overall cost
❌ Some sync/import and learning‑curve challenges
❌ Doesn’t file taxes for you

Bottom Line (2026):
Koinly remains one of the most comprehensive and user‑friendly crypto tax tools available. It’s ideal for investors and traders who want automation and accurate reporting across a broad range of activities — but you should be prepared to pay for downloadable reports and may need to double‑check complex transactions.