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VERDICT

Should I use Koinly?

Free Crypto Tax Software - koinly.com

Depends. Buy it if you trade actively across multiple exchanges, DeFi, or NFTs and need audit-ready tax reports; start on the free tier to test your import first. Skip it if you hold a few coins on one exchange — free tracking or a spreadsheet covers you, and support complaints are widespread.

Confidence

Medium. Based on ~25 public sources: review sites, Reddit threads, official forum, security disclosures, and funding news.

Ratings

  • Value for money
  • Ease of use
  • Feature depth
  • Support quality
  • Security posture

Pricing

$0

Free

ModelNot disclosed
Monthly feesNot disclosed
HardwareNot disclosed
Free tierYes
Paid plansFrom $49
Trader PlanVaries

Best for

  • Active multi-exchange traders
  • DeFi and NFT investors
  • Crypto accountants filing client returns
  • UK and Australian crypto filers

Not for

  • Buy-and-holders with a handful of trades — overkill
  • Anyone needing responsive support during tax season
  • Privacy-wary users after the 2025 email breach
  • Enterprise compliance teams — Lukka-class tools fit better

Gotchas - check before you buy

high

December 2025 third-party breach leaked user emails; expect phishing attempts

medium

Pay-per-tax-year pricing: cost jumps with transaction count, not with gains

medium

Users report repeated payment demands after already buying a report

medium

VPN blocking and account access friction reported by users

Pros and cons

Pros

  • Free tracking with tax-report previews before you pay
  • Frequently ranked a top crypto tax tool for 2026
  • Supports 6,000+ coins, exchanges, DeFi and NFTs
  • Dedicated business and accountant tiers for firms
  • Chosen by Binance Australia for user tax-compliance outreach

Cons

  • Recurring complaints: slow support, unresolved tax-report problems
  • Third-party breach exposed user email addresses in December 2025
  • Report fee can exceed the actual annual tax owed for small portfolios
  • Users report being asked to pay repeatedly after purchase

Sources & method

Analyzed 10/06/2026 - 12 sources - No vulnerabilities found, but a third-party compromise exposed user email addresses in December 2025; funds and custody were not reported affected.

official x1review x7security x2news x2
  • Third-party breach exposed user email addresses, Koinly disclosed in December 2025 that a third-party compromise leaked user email addresses; no loss of funds or wallet access was reported.

Key stats

  • Value for money: 3/5

    Rating

  • $0

    Starting price

  • 12

    Sources

  • Analyzed

  • Value for money: 3/5. Cheap entry but fees sting small portfolios
  • Ease of use: 4/5. Reviewers praise imports and clean reports
  • Feature depth: 5/5. DeFi, NFTs, thousands of coins, accountant tier
  • Support quality: 2/5. Recurring complaints of slow, unresponsive help
  • Security posture: 3/5. Data encrypted, but third-party email breach
  • $49 Starting price paid plans, per tax year
  • Yes Free tier tracking plus report previews
  • $8.8M Funding per Crunchbase

Pricing

Free

$0

  • Portfolio tracking
  • Tax report preview

Paid plans

From $49

  • Full tax reports per tax year
  • Price rises with transaction volume

Trader Plan

Varies

  • Higher transaction allowances
  • Reported by Milkroad review

Security

No vulnerabilities found, but a third-party compromise exposed user email addresses in December 2025; funds and custody were not reported affected.

  • Third-party breach exposed user email addressesKoinly disclosed in December 2025 that a third-party compromise leaked user email addresses; no loss of funds or wallet access was reported.⁷

What users say

Users praise the import flow and calculation depth but many complain about unresponsive support and surprise fees.

“DO NOT use Koinly for taxes. They have terrible customer ...”
Reddit, r/CryptoCurrency
“Koinly is hot garbage ..”
Reddit, r/koinly
“Koinly has been best for”
Reddit, r/CryptoTax

Alternatives

Compare Koinly with each alternative.

  • Cointelli

    Positioned on accuracy and hands-on help

Companies that use it

  • Binance Australia
  • MyCryptoTax
  • Wise CPA
  • The Tax Institute (Australia)
Full analysis

Based on ~25 public sources: review sites, Reddit threads, official forum, security disclosures, and funding news.

Category-leading crypto tax tool; great for multi-exchange traders, overkill for small holders — mind support and fee complaints.

Methodology

Based on ~25 public sources: review sites, Reddit threads, official forum, security disclosures, and funding news.

Sources

  1. Koinly: Free Crypto Tax Softwarekoinly.io
    official
  2. Koinly Review: Free Crypto Tax Reports, $49 Plansgist.github.com
    review
  3. Koinly Review (2026): Our Top Pick for Crypto Tax Softwarecountonsheep.com
    review
  4. Koinly Review 2026 - Koinly Is LEGIT But Pay Attention To ...captainaltcoin.com
    review
  5. DO NOT use Koinly for taxes. They have terrible customer ...reddit.com
    review
  6. Trustpilot reviews of Koinlytrustpilot.com
    review
  7. Koinly Warning: Third-Party Breach Exposes User Emailsfinance.yahoo.com
    security
  8. Is Koinly Secure?support.koinly.io
    security
  9. Crypto tax startup Koinly cuts 14% of stafftheblock.co
    news
  10. Koinly - Crunchbase Company Profile & Fundingcrunchbase.com
    news
  11. Software Tax Report Fee much greater than actual annual ...reddit.com
    review
  12. Keeps wanting more money - over a monthdiscuss.koinly.io
    review

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