Is Koinly Legit? (2026 Review)

Summary: Is Koinly Legit?

Yes, Koinly is a legitimate crypto tax software platform. The company has processed tax reports for over 1 million users across 20+ countries. Koinly holds SOC 2 and ISO 27001 certifications and complies with GDPR regulations in the European Union.

Koinly supports 1,000+ direct integrations and generates IRS-compliant tax forms including Form 8949 and Schedule D.

Users have complained that Koinly struggles to catch errors and often miscategorizes transactions.

Koinly is a trusted platform and a great choice. However, for users looking for a more beginner-friendly experience with stronger error detection and better DeFi coverage across all major blockchains, CoinLedger is the best alternative. 

Try CoinLedger for free. 

What Is Koinly?

Koinly is a cloud-based crypto tax platform that calculates capital gains, losses, and taxable income from cryptocurrency transactions. The software connects to wallets and exchanges through API keys or CSV file uploads to import transaction history automatically.

Koinly is designed for individual investors, accountants, and tax professionals who need to generate compliant tax reports across multiple jurisdictions. The platform tracks trading, staking, mining, lending, and NFT transactions. The platform also supports cost basis methods like FIFO, LIFO, and HIFO.

The software generates country-specific tax reports for 100+ countries and integrates with tax filing platforms like TurboTax and TaxAct.

Who is behind Koinly?

Koinly was founded in 2019 by Robin Singh. The company is headquartered in the United Kingdom and has helped investors file more than 10,000 tax returns. 

Is Koinly safe to use?

Can Koinly access my wallet?

No, Koinly cannot access your funds or move cryptocurrency from your accounts. The platform uses read-only API connections that only allow it to view your transaction history. Koinly cannot execute trades, make withdrawals, or transfer crypto on your behalf.

When setting up API keys with exchanges, users should disable all permissions except read-access. Koinly will never ask for your private keys, seed phrases, or passwords. The company recommends users verify that API keys have trading and withdrawal permissions turned off before connecting them to the platform.

All API and blockchain keys are encrypted before being stored on Koinly's servers.

Is Koinly good for data and privacy?

Koinly stores transaction data, wallet addresses, and exchange connection information on secure servers hosted by Amazon Web Services. The platform uses encryption for all data transmission. 

In December 2025, Koinly disclosed that email addresses may have been exposed through a third-party breach at Mixpanel, an analytics service provider the company used. Koinly confirmed that no wallet information, transaction history, tax reports, or portfolio data was shared with Mixpanel or compromised in the incident.

Is Koinly IRS compliant?

Koinly generates IRS-compliant tax reports including Form 8949 and Schedule D for capital gains and losses. Koinly can be used to report transactions from Form 1099-DA.

Users can select different accounting methods including FIFO, LIFO, and HIFO to optimize their tax position.

Koinly allows users to export their reports into TurboTax (however, some users reported issues with TurboTax exports in 2026). 

What exchanges/wallets does Koinly support?

Koinly supports 1,000+ API integrations and DeFi protocols. The platform connects to major exchanges including Coinbase, Binance, Kraken, Bybit, and Gemini through API keys that enable automatic transaction syncing.

Users can also import data through CSV file uploads for exchanges that don't support API connections or for wallets where manual import is preferred. Koinly accepts public wallet addresses for blockchain-based wallets, allowing the platform to pull transaction data directly from the blockchain. However, some users say that Koinly has issues correctly categorizing DeFi transactions.

Koinly's user interface

Koinly allows you to import wallets and exchanges through API keys or public addresses. The Koinly dashboard displays total portfolio value, unrealized gains, and a breakdown of holdings across all connected accounts.

Users report that Koinly faces issues when it comes to import error detection. Some common issues include duplicate transactions and incorrect classification for certain types of transactions. 

Users often need to manually comb through their Koinly tax reports to find these issues. 

Users looking for a more beginner-friendly interface often choose CoinLedger because it provides clearer error messages, visual guides for fixing common issues, and a streamlined workflow for fixing errors. 

What is Koinly's pricing?

Koinly offers one free plan and three paid tiers based on transaction volume:

• Free Plan: Unlimited wallets and portfolio tracking, capital gains preview, up to 10,000 transactions calculated (no downloadable tax reports)
• Newbie Plan: $49 per year for up to 100 transactions, includes Form 8949, Schedule D, and international tax reports
• Hodler Plan: $99 per year for up to 1,000 transactions with all Newbie plan features
• Trader Plan: $199 per year for up to 3,000 transactions with priority email support

Users purchase plans for individual tax years. Koinly does not have a recurring subscription. 

What customer support does Koinly offer?

Koinly provides support through an in-app chat system and email at [email protected]. The chat initially connects users to an AI assistant instead of a human representative. 

Some users express frustration with Koinly’s chatbots, reporting that it can be difficult to reach human support for complex technical issues. 

Common Koinly scams

Scammers impersonate Koinly through phishing emails and fake customer support accounts on social media. In situations like these, the scammer may request private keys, seed phrases, or direct cryptocurrency deposits to "unlock" accounts or "verify" transactions.

Koinly will never call users on the phone, request cryptocurrency deposits, or ask for private keys or seed phrases. All legitimate communications from Koinly come from @koinly.io email addresses.

Also, look out for fake Koinly websites designed to steal your cryptocurrency. Always verify you're accessing the official koinly.io domain before entering account information.

Summary: Is Koinly Legit?

Yes, Koinly is a legitimate crypto tax platform that serves more than 1 million users. 

However, Koinly comes with limitations. Some users experience error reconciliation issues and challenges with DeFi transactions. 

For users who want simplicity, strong error reconciliation, and broader DeFi coverage, CoinLedger is the best option. 

Get started with a free account today.