Koinly vs. CoinTracker: Best crypto tax software?
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In this guide, we’ll break down the best crypto tax software, Koinly vs. CoinTracker vs. CoinLedger, based on a range of different characteristics like user friendliness, pricing, customer support, and much more!
Summary: CoinLedger ranks the best in terms of user-friendliness, customer support, and affordable prices. But don’t take our word for it — try the platform for free!
How do I choose a crypto tax software?
The best crypto tax software for you may vary depending on your specific needs. Most investors make their decision based on factors like affordability, integrations with specific blockchains/wallets, and ease of use.
In this article, we’ll break down how Koinly, CoinTracker, and CoinLedger compare based on each key category.
We admit we’re a bit biased. However, we made our best effort to give all platforms due credit and give you an honest understanding of which platform is the best crypto tax software for you.
What’s the best crypto tax software—Koinly, CoinTracker, or CoinLedger?
While CoinTracker and Koinly are both trusted platforms, CoinLedger is the best option to make your tax season stress-free.
What sets CoinLedger apart is its focus on ease of use. CoinLedger is built by crypto investors, for crypto investors. Our team focused on building a platform that makes it easy to connect your wallets and exchanges and generate complete tax reports in minutes.
CoinLedger comes with bonus user-friendly features — like notifications for missing data, the ability to automatically classify transactions, and customer support for all users — even if you don’t pay us a dime!
If you’re not comfortable reporting your crypto taxes on your own, CoinLedger offers custom Services offerings so that you can get 1:1 help with a tax expert.
User Interface & Ease of Use
Winner: CoinLedger
Tax season can be stressful. That’s why it’s important to choose a platform that makes it easy for you to file your taxes. Your crypto tax software should make it easy to connect your wallets and exchanges and classify your transactions (mark a transaction as staking, trading, mining, etc.) so that you can accurately calculate your tax liability.
CoinLedger: CoinLedger allows you to select your wallets and exchanges, then the platform will automatically import and label your transactions. Typically, the process takes minutes!
Koinly: While Koinly has a user-friendly interface, some customers have complained that the platform mislabels transactions and makes it hard to manually re-classify them for tax purposes. In addition, users have complained that integrations often feel rushed to market.
CoinTracker: CoinTracker’s customers have expressed frustration with the platform. Reviews complain about bugs and difficulty classifying different transaction types.
When it comes to ease of use, CoinLedger is the clear winner.
Features and Services
Winner: CoinLedger
Let’s walk through some of the features and services that each crypto tax platform offers.
CoinLedger: Tax-Loss Harvesting Report, DeFi & NFT support, FIFO, LIFO, HIFO, Email and Live Chat support, Error reconciliation, CSV and wallet import, Tax-Loss Harvesting, Expert Review, Done for You, Tax Prep options
Koinly: DeFi & NFT support, FIFO, LIFO, HIFO, Email and Live Chat support, Error reconciliation, CSV and wallet import, Tax-Loss Harvesting
CoinTracker: DeFi & NFT support (for higher pricing tiers only), FIFO, LIFO, HIFO, Tax summary by wallet, CSV and wallet import, , Tax-Loss Harvesting
CoinLedger offers the widest breadth of features and services to help you simplify the tax reporting process. In addition, with services like Expert Review, a CoinLedger tax expert can work with you 1:1 to make sure your data is accurate.
Blockchain Integrations
Winner: CoinLedger, Koinly (while Koinly has more integrations, CoinLedger accounts for on-chain fees to help you avoid paying too much in taxes)
CoinLedger: Integrates with Bitcoin, Ethereum, Binance Smart Chain, Avalanche, Solana, Cardano, and more!
Koinly: Koinly has integrations with dozens of blockchains — including Bitcoin, Ethereum, Binance Smart Chain, and much more!
CoinTracker: Integrates with Bitcoin, Ethereum, Binance Smart Chain, Avalanche, Solana, Cardano, and more!
Of the three platforms, Koinly has the most custom blockchain integrations. However, CoinLedger is the best platform when it comes to pulling in relevant on-chain data including gas fees and protocol fees. Koinly and CoinTracker have trouble with this — which can potentially leave you with a larger tax bill than necessary.
Exchange Integrations
Winner: Three-way tie!
Koinly, CoinTracker, and CoinLedger all have integrations with hundreds of exchanges — including platforms like Coinbase, Kraken, Binance, and Gemini. Each platform allows you to automatically import your transactions through API connection or CSV import.
Supported Countries
Winner: Koinly
Koinly: Koinly supports 100+ countries, including the US, Australia, and Canada.
CoinLedger: CoinLedger supports 40+ countries, including the US, Australia, and Canada.
CoinTracker: CoinTracker supports the US, UK, Australia, and Canada
Pricing
Winner: CoinLedger, Koinly
Let’s break down the pricing tiers for each crypto tax platform.
CoinLedger: Free to track your portfolio and view net gains & losses, $49 for 0-100 transactions, $99 for 101-1,000 transactions, $199 for 1,001-3,000 transactions,
Koinly: Free to track your portfolio, $49 for 0-100 transactions, $99 for 101 - 999 transactions, $149 for more than 1,001-3,000 transactions
CoinTracker: $59 up to 100 transactions, $199 up to 1,000 transactions, $599 up to 10,000 transactions
CoinLedger and Koinly offer the most affordable plans for cryptocurrency investors.
Tax Software Integrations
Winner: CoinLedger
If you’re filing your crypto taxes by yourself, you should look for a platform that can easily import your transactions to your tax platform of choice.
CoinLedger: TurboTax, TaxAct, Taxslayer, H&R Block
Koinly: TurboTax, TaxAct, H&R Block
CoinTracker: TurboTax, TaxAct, H&R Block
CoinLedger is the best choice for tax platform integrations.
Customer Support
Winner: CoinLedger
Strong customer support can help tax season feel stress-free.
CoinLedger: Customer support available for all customers — free and paid — via email and live chat.
Koinly: Customer support available for all customers via email. Live chat only available for paying customers.
CoinTracker: Customer support available only for customers paying for higher price tiers. Users have complained that support reps often close tickets early without solving issues.
CoinLedger is the only company to offer support to all customers since its founding — which means the CoinLedger support team has years of experience helping customers through a range of issues.
Help Center
Winner: CoinLedger
Help Center articles are essential for helping you figure out how to use your crypto tax software — including how to navigate the dashboard, automatically import your transactions, and download your tax report.
CoinLedger: CoinLedger has more than 300 articles in its Help Center.
Koinly: Koinly has more than 100 articles in its Help Center.
CoinTracker: CoinTracker has more than 100 articles in its Help Center.
CoinLedger offers the most Help Center resources to help customers report their taxes.
Safety & Security
Winner: Three-way tie
It’s important to choose a platform that keeps your transaction data safe.
CoinLedger, CoinTracker, and Koinly are all considered trusted platforms that use tools like encryption and two-factor authentication to protect customer data. It’s also important to note that the platforms all only have read-only access to your platforms — meaning they can’t make transactions through your accounts.
CoinLedger: CoinLedger takes multiple steps to protect customer data. CoinLedger enforces a password complexity standard and all credentials are hashed using a PBKDF2 function with HMAC-SHA256, 128-bit salt, 256-bit subkey, 10000 iterations. In addition, CoinLedger’s servers are on a proprietary virtual private cloud with network access lists that prevent unauthorized requests and potential hacks.
Koinly: Koinly uses encryption, third-party security tools, and two-factor authentication to keep your data safe.
CoinTracker: CoinTracker uses encryption, third-party security audits, and two-factor authentication to keep your data safe.
Crypto Payments
Winner: Koinly
At this time, Koinly is the only platform that accepts cryptocurrency payments.
CoinLedger: Does not accept crypto payments
Koinly: Accepts BTC, ETH, DAI, USDC
CoinTracker: Does not accept crypto payments
In conclusion
Still can’t choose between Koinly, CoinTracker, and CoinLedger?
Try CoinLedger for free to see for yourself why the platform is trusted by more than 700,000 investors. There’s no need to enter your credit card details until you pay for a tax report!
Frequently asked questions
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