Koinly Review 2026 – Pros & Cons

Ameli

— 2 min read

Filing crypto taxes can be complicated — multiple wallets, exchanges, staking rewards, NFTs, and DeFi transactions all add up. Koinly has established itself as a leading crypto tax software, but is it the right choice in 2026? Let’s break down the pros and cons to help you decide.

Pros of Koinly in 2026

1. Massive Exchange & Wallet Support

Koinly integrates with 900+ exchanges and wallets, including Coinbase, Binance, Kraken, MetaMask, Ledger, and more.

  • Supports automatic API imports and CSV uploads.
  • Consolidates all transactions in one platform, saving hours of manual work.

2. Multi-Country Tax Compliance

  • Generates country-specific tax reports for 100+ jurisdictions.
  • Supports major forms like IRS 8949 (US) and HMRC Capital Gains (UK).
  • Lets you choose cost basis methods: FIFO, LIFO, HIFO.

3. DeFi, Staking, and NFT Tracking

  • Tracks complex DeFi activity: yield farming, staking, liquidity pools.
  • Monitors NFT transactions for taxable events.
  • Reduces errors when dealing with cutting-edge crypto investments.

4. Beginner-Friendly Dashboard

  • Intuitive and easy to navigate for non-experts.
  • Shows portfolio performance, gains/losses, and tax estimates in real-time.
  • Free plan allows you to preview your tax situation before paying.

5. Audit-Ready Reports

  • Koinly generates fully traceable, exportable tax reports.
  • Available in CSV, PDF, and compatible with third-party tax software.
  • Supports reconciliation of transfers to avoid double-counting.

Cons of Koinly in 2026

1. Paid Plans Required for Filing

  • The free plan tracks portfolios but doesn’t generate official tax reports.
  • High-volume traders may need to upgrade to more expensive plans.

2. Manual Adjustments Can Be Needed

  • Some DeFi or cross-chain transactions may require manual review.
  • Non-standard CSV imports can occasionally cause mismatches.

3. No Direct Filing

  • Koinly prepares reports but does not submit taxes for you.
  • Users still need to file themselves or use external software.

4. Occasional Sync or API Limitations

  • Large portfolios may experience slower syncing or rate-limit issues.
  • Some smaller exchanges may require manual CSV uploads.

5. Security Features

  • While generally secure, two-factor authentication (2FA) is limited, which could concern some users.

Verdict: Is Koinly Worth It in 2026?

Koinly continues to be a top choice for crypto tax reporting in 2026. Its wide exchange and blockchain support, multi-country compliance, DeFi and NFT tracking, and intuitive dashboard make it ideal for both beginners and advanced users.

Who should use it:

  • Casual investors tracking a few wallets.
  • Active traders handling multiple exchanges.
  • DeFi and NFT enthusiasts needing automated tax calculations.

Who may want alternatives:

  • Users seeking direct filing services.
  • Traders on a tight budget with very high transaction volumes.

💡 Bottom line: Koinly balances ease-of-use, accuracy, and versatility — and for most crypto users, it remains a strong solution for 2026.

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