Koinly Review 2026 — Is It Really Good Tax Software?

Koinly is one of the most popular crypto tax reporting tools available in 2026, used by investors, traders, and accountants around the world to automate tax calculations and generate compliance-ready reports. But how well does it perform in real-world use? Let’s break it down.

✅ **What Koinly Does Well

📥 Broad Import & Integration Support

Koinly connects with hundreds of exchanges, wallets, and blockchains using API syncs or CSV uploads, making it easy to collect crypto transaction data in one place. This works for centralized exchanges like Binance and Coinbase as well as many on-chain wallets and DeFi platforms.

📊 Detailed Tax Reporting

It can generate tax reports that are compliant with rules in 20+ jurisdictions — including IRS Form 8949 and Schedule D for U.S. users — using cost basis methods like FIFO, LIFO, and average cost.

🧠 Portfolio Tracking and Insights

Beyond taxes, Koinly offers real-time portfolio tracking so you can monitor your holdings, P&L, and potential tax liabilities without extra tools.

📄 Audit-Ready & Exportable Reports

Reports export as PDFs, Excel files, or formats compatible with traditional tax software like TurboTax and TaxAct — very useful if you work with an accountant or file yourself.

🤝 Generous Free Tier

You can import and view your transactions for free (up to a high count) and preview your tax summary without paying anything — you only pay when you want to download tax reports.

⚠️ **Limitations & Things to Watch For

🛠 Manual Review Still Needed

Complex transactions — especially in DeFi or on multiple chains — sometimes require manual editing to ensure accuracy. The software does a lot of the work, but it’s not perfect in every scenario.

📍 Jurisdiction Coverage Varies

While major countries are supported well, support for smaller or region-specific tax formats may be limited, meaning you might need custom adjustments for some local laws.

🔒 Security Features

Koinly’s basic security practices are sound, but it lacks two-factor authentication (2FA), which is a notable omission for a platform handling sensitive financial data.

💸 Pricing for Heavy Users

Plans are tiered based on transaction count. This means high-volume traders or users with countless micro-transactions (like frequent staking rewards or mining income) might end up in higher pricing tiers.

💡 **User Feedback Snapshot

Positive:

• Many users report that Koinly simplifies tax calculations and brings together all their transactions in one place.
• High Trustpilot ratings and repeat users suggest reliability for many.

Mixed or Negative:

• Some traders note inaccuracies with certain imports or timestamp mismatches that require manual fixes.
• Others complain about user experience issues, such as syncing quirks or data cleanup pain points.

Overall, community feedback highlights that Koinly works very well for the majority of standard use cases, but its performance can vary with unusual transaction patterns.

📊 **Pros & Cons (at a glance)

Pros
✔ Automatic import from many exchanges & wallets
✔ Audit-ready tax reports for major countries
✔ Portfolio tracking + tax summary in one place
✔ Free to preview transactions & estimates

Cons
⚠ Manual cleanup may be needed for complex setups
⚠ No native 2FA — weaker security than some peers
⚠ Pricing rises with very high transaction activity
⚠ Limited direct support for some smaller tax regimes

🧾 **Final Verdict — Is Koinly Really Good?

Yes — Koinly is one of the best crypto tax software tools available in 2026 for most users.
It’s reliable, integrates widely, produces accurate reports, and saves huge amounts of time compared to manual bookkeeping. It’s particularly strong if you:

• Trade across multiple platforms
• Use DeFi activities or staking rewards
• Need outputs for professional tax filing

However, if your portfolio includes highly advanced or edge-case blockchain activity — or if you require extremely tight security controls (like mandatory 2FA) — you may encounter limitations and should supplement with careful review or consider alternatives as needed