Koinly Review 2026 — Pros & Cons

✅ Pros (What Koinly Does Well)

1. Broad Integration Support
Koinly connects with 800+ exchanges and wallets and supports many blockchains, making it easy to import transactions automatically via APIs or CSV uploads.

2. Global Tax Compliance
The platform supports tax reporting based on local rules in 20+ jurisdictions, including the US (IRS), UK (HMRC), and Australia (ATO), with periodic updates to remain compliant.

3. Powerful Tax & Portfolio Tools
Koinly handles DeFi and NFT activities, staking rewards, and capital gains calculations. It also supports different accounting methods (FIFO/LIFO/HIFO) and provides audit‑ready exports.

4. Free Tier for Tracking
You can sign up and track your portfolio (up to 10,000 transactions) without paying — perfect for previewing gains/losses before purchasing tax reports.

5. User‑Friendly Interface
The dashboard is generally intuitive for beginners and more experienced users alike, reducing manual work and confusion.

6. Real‑Time Insights & Analytics
Koinly offers real‑time portfolio tracking alongside tax data — useful for both performance insights and reporting preparation.

❌ Cons (Where Koinly Falls Short)

1. Pricing Can Be Costly for High Traffic Users
To generate official tax reports, you need a paid plan. High transaction volumes may push users into more expensive tiers.

2. Manual Fixes Still Needed
Complex DeFi or certain exchange histories sometimes require manual adjustment for accurate data, especially with CSV imports.

3. CSV/Import Challenges
Some users report occasional problems importing non‑standard CSV files or syncing via API, which can lead to inaccuracies or extra cleanup work.

4. No Direct Filing
While Koinly prepares detailed tax reports, it doesn’t submit them directly to tax authorities — you must export and file them yourself or via third‑party software.

5. Limited Security Features Noted
Some reviews highlight the absence of two‑factor authentication (2FA) as a security downside compared to standard practice.

6. Occasional Sync Delays or Performance Issues
Users with large portfolios sometimes report slower mobile app performance or occasional syncing delays due to API rate limits.

📌 Summary: Is Koinly Worth It in 2026?

Pros:
✔️ Excellent exchange & wallet coverage
✔️ Strong global tax reporting
✔️ Comprehensive DeFi/NFT tracking
✔️ Useful free tier and intuitive design

Cons:
❌ Paid plans needed for filing reports
❌ Manual corrections sometimes required
❌ Import and security limitations