Koinly VS Cointracker – In-Depth and Unbiased

Trying to figure out which is better, Koinly VS Cointracker?

​Not sure if Koinly or Cointracker is better for your business?

We can help with those tough questions. We’ll take a closer look at both of these popular crypto tax tools to help you decide which one is right for you. Crypto tools don’t come in one size fits all packages. Initially, you may lean toward one but find that the other is better.

This guide is intended to provide a clear understanding of how each tool works and what each tool does best.

Let’s examine each tool separately and then compare them side by side.

What is Koinly?

Koinly is an online platform that allows you to monitor all your crypto activities and create tax reports that are legal and compliant. Using Koinly, you can sync your wallets and keep track of activities including trading, mining, staking, lending, and airdrops. Koinly simplifies the process of tracking all the ins and outs.

Koinly will automatically import your transactions and monitor all market prices, wallet transfers, calculate your crypto gains/losses, and produce tax reports.

Koinly’s Key Features

The platform includes the following key features:

  • A multi-country platform – The platform is available to people in over 20 countries in Europe, Asia, Oceania, and North America. Additionally, Koinly can produce localized Form 8949, Schedule D, K4, Rf1159, and Sheet 9A tax reports.
  • A wide range of blockchain integrations – Koinly supports automatic imports for Bitcoin, Ethereum, Litecoin, and NEO. In addition, it provides integrations with 350 exchanges, such as Binance, Coinbase, and Kraken, as well as portfolio apps such as Blockfolio and Delta, and 75 wallets so you can easily keep track of mining, staking, and various other DeFi activities.
  • Koinly lets you import data from a variety of services with an API. CSV file imports and data migrations from Nexo, BlockFi, Bitmex, Deribit, and CoinTracking are also supported.
  • It’s free to track up to 10,000 transactions and generate capital gains tax previews. You can use the free account to track your crypto trades and activities indefinitely.
  • Koinly provides comprehensive resources like a Crypto Tax Calculator, Regional Tax Guides, Tax Accountant listings, and a Blog to keep its users in the loop.
  • Customer service – The team responds quickly to emails every time I email

Tax Reports

Additionally, Koinly generates a variety of localized tax reports for different countries, including:

  • Form 8949 and Schedule D
  • Capital gains summary for UK
  • K4
  • Rf1159
  • Swiss Valuation Report
  • Sheet 9A

Localized reports are available alongside more standard reports like:

  • Complete Tax Reports – This has your capital gains summary, margin gains, capital gain transactions, end of year balances, asset summary, and income and can be downloaded as a PDF.
  • Transaction Reports – These include all your transactions in a CSV file.
  • Capital Gains Reports – This is a CSV with everything you sold.
  • Income Report – This is a CSV file with all your earnings, including airdrops, forks, interest, and staking.
  • Gifts, Donations & Lost Asset Reports – This CSV contains any transactions tagged as Gifts, Donations or Lost Assets.
  • These CSVs contain all transactions tagged as costs. However, your trading fees have already been accounted for in the capital gains report.
  • End of Year Holdings Reports – This CSV shows your holdings at the end of the tax year.
  • Turbotax Reports – This is a CSV that you can import into the Turbotax tax software.

What Is CoinTracker?

CoinTracker.io was founded in 2017 by Chandan Lodha and Jon Lerner. CoinTracker has always tried to impress its users. Rather than just offering a crypto tracking platform, it takes it a step further. 

CoinTracker has tax tracking tools that set it apart from the competition. Plus, you can see real-time prices, historical data, deposits, withdrawals, market caps, and performance details about your crypto assets. 

CoinTracker tracks $20 billion worth of crypto assets right now.

What Does It Offer?


if you have a cryptocurrency portfolio, CoinTracker.io has a bunch of cool stuff. Let’s have a closer look. 

Transaction Tracking

You can track your wallets and exchanges. CoinTracker lets you monitor your cryptocurrency wallets for incoming and outgoing transactions. Over 300 wallets can be tracked, including Ledger, Coinbase, Binance, and TrustWallet

CoinTracker supports over 8,000 cryptocurrencies right now. With that, it’s very likely that your crypto portfolio will fit right in.

Currently, it doesn’t support Solana wallets.

Tax Compliance

Staying tax compliant is important when building your cryptocurrency portfolio. However, keeping track of these details can be tedious. CoinTracker simplifies the process for you. 

Using cost basis accounting methods, the platform allows for seamless tax loss harvesting. You can also make smarter trades to minimize your tax liability with the increased visibility. 

You’ll be tax compliant with CoinTracker. For your tax filing, all you have to do is download your tax report.

This year, CoinTracker integrates with both TurboTax and TaxAct.

Conclusion

Now that you’ve seen all the features and benefits of both Koinly vs Cointracker , it’s time to decide which one is right for you.

While they offer some similarities, there are also some key differences. Koinly is great for new investors because it’s easy to use and helps you stay organized.

If you have more experience in the market or want more detailed insights into your portfolio, then cointracker may be a better fit for you. Ultimately, the choice is yours – but we hope this comparison has helped make your decision easier! So, which platform will you choose Koinly vs Cointracker?