Koinly - Everything You Need to Know

15.05.2024 16:45 34 times read Reading time: 16 minutes 0 Comments

Topic in short form

  • Koinly is a cryptocurrency tax software that helps you calculate your taxes.
  • It supports multiple exchanges and wallets, making it easy to track all your transactions in one place.
  • With Koinly, you can generate tax reports that comply with various tax regulations worldwide.

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Introduction

Navigating the world of cryptocurrency can be challenging, especially when it comes to managing your taxes. Koinly is designed to simplify this process, providing users with the tools to automatically track their transactions and generate precise tax reports. Whether you are a beginner or an experienced trader, Koinly offers essential features that cater to various levels of expertise.

The platform integrates with numerous exchanges and wallets, making it easier to consolidate your cryptocurrency activities in one place. By using Koinly, you can save time and ensure compliance with tax regulations, allowing you to focus more on your trades and investments.

What is Koinly?

Koinly is a specialized tool designed to help cryptocurrency users manage their tax reporting requirements with ease. It automates the process of tracking transactions across various exchanges and wallets, ensuring accurate and compliant tax reports.

With Koinly, you can import your transaction data using APIs or CSV files, categorize your transactions, and generate detailed tax reports. The platform also supports a wide array of cryptocurrency assets and provides real-time portfolio tracking. This way, you always have an up-to-date view of your holdings and their performance.

Furthermore, Koinly offers support for multiple tax jurisdictions, making it a versatile solution for users across different countries. Its user-friendly interface and comprehensive features make it a popular choice among both novice and experienced cryptocurrency investors.

Why Use Koinly?

Koinly offers several advantages that make it a valuable tool for cryptocurrency traders and investors. Here are some key reasons to consider using Koinly for your tax reporting and portfolio management needs:

Automated Data Import

One of the standout features of Koinly is its ability to automatically import transactions from a wide range of exchanges and wallets. By using API keys, Koinly can synchronize your transaction data in real-time, saving you the hassle of manual input.

Accurate Calculations

Koinly employs various accounting methods such as FIFO (First In, First Out), LIFO (Last In, First Out), and others. This ensures that your tax calculations are precise and adhere to the tax regulations of your jurisdiction.

Compliant Tax Reports

Koinly generates detailed and compliant tax reports tailored to the specific requirements of multiple countries. Whether you are in the USA, UK, Australia, or another country, you can be confident that your tax reports are accurate and compliant.

Time Efficiency

By automating the tracking and reporting process, Koinly saves you a significant amount of time compared to manual calculations. This allows you to focus more on your trading and investment activities rather than getting bogged down by administrative tasks.

Comprehensive Reporting

Feature Details
Capital Gains Calculate your capital gains based on your transaction history
Income Track income from mining, staking, and other activities
Expenses Keep a record of your expenses for accurate tax deductions

Real-Time Portfolio Tracking

Koinly provides real-time tracking of your portfolio’s value and performance, giving you an accurate overview of your assets at any given time. This feature is particularly useful for monitoring market trends and making informed investment decisions.

User-Friendly Interface

Koinly is designed with ease of use in mind. Its intuitive interface makes it easy for users of all experience levels to navigate the platform and access the features they need.

"Koinly has significantly simplified my crypto tax reporting. The automated data import and accurate calculations save me hours of work each year." — Satisfied User

Key Features of Koinly

Koinly stands out due to its comprehensive suite of features designed to simplify tax reporting and portfolio management for cryptocurrency users. Here are some of the primary features that make Koinly a powerful tool:

Automated Transaction Tracking

Koinly can automatically track your cryptocurrency transactions across multiple exchanges and wallets. By using API keys or importing CSV files, you can ensure that all your trades, transfers, and transactions are accurately recorded.

Diverse Cryptocurrency Support

Koinly supports a wide array of cryptocurrencies, allowing you to track and report on a diverse portfolio with ease. Whether you hold Bitcoin, Ethereum, or any other altcoin, Koinly has you covered.

Tax Calculation Methods

Koinly supports different tax calculation methods such as FIFO, LIFO, and HIFO (Highest In, First Out), ensuring that your tax calculations are optimized according to your preferences and regulatory requirements.

In-Depth Tax Reports

Koinly generates detailed tax reports for various jurisdictions, including:

  • Capital Gains Reports
  • Income from Mining and Staking
  • Expense Tracking for Deductions

These reports are crafted to meet the specific requirements of tax authorities, ensuring compliance and accuracy.

Decentralized Finance (DeFi) Tracking

Koinly can also track transactions from DeFi platforms, ensuring that activities such as lending, borrowing, and earning interest through decentralized protocols are accurately recorded and reported.

Security Measures

Security is a priority for Koinly. The platform uses advanced encryption techniques and offers two-factor authentication (2FA) to protect your data and account.

Customizable Dashboard

Koinly’s dashboard is highly customizable, allowing you to tailor the display to your preferences. You can choose which assets to monitor closely and get real-time updates on your portfolio’s performance.

Multi-Currency Support

For users who trade in different fiat currencies, Koinly offers multi-currency support, making conversions and calculations straightforward.

Integration with Accounting Software

Koinly can integrate with popular accounting software, allowing seamless synchronization of your cryptocurrency transactions with your overall financial records. This feature is particularly useful for businesses and frequent traders.

"Koinly’s in-depth features and user-friendly interface make it an indispensable tool for managing my crypto finances." — Experienced Trader

Supported Cryptocurrencies and Exchanges

Koinly is highly versatile when it comes to the range of cryptocurrencies and exchanges it supports. Whether you are trading mainstream cryptocurrencies or diving into altcoins, Koinly ensures that your transactions are seamlessly integrated and accurately tracked.

Supported Cryptocurrencies

Koinly supports over 17,000 different cryptocurrencies, including but not limited to:

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Litecoin (LTC)
  • Bitcoin Cash (BCH)
  • Cardano (ADA)
  • Polkadot (DOT)
  • Chainlink (LINK)
  • Binance Coin (BNB)
  • Uniswap (UNI)

This extensive support ensures that no matter what assets you hold, Koinly can handle them effectively to provide accurate tracking and reporting.

Supported Exchanges

Koinly integrates with more than 300 centralized and decentralized exchanges, making it one of the most comprehensive cryptocurrency tax reporting tools available. Some popular exchanges supported by Koinly include:

  • Binance
  • Coinbase
  • Kraken
  • Bitfinex
  • Bitstamp
  • Gemini
  • Huobi
  • KuCoin
  • Uniswap
  • SushiSwap

Koinly’s integration covers both traditional exchanges and decentralized finance (DeFi) platforms, allowing you to track complex transactions from AMMs (Automated Market Makers) and lending protocols.

Adding New Exchanges and Wallets

Koinly continually updates its platform to add support for new exchanges and wallets. This ensures you can always find the tools and integrations you need as the cryptocurrency ecosystem evolves. You can check the full list of supported exchanges and wallets directly on Koinly’s website.

Exchange Type Integration Method
Binance Centralized API
Uniswap Decentralized API / Manual
Coinbase Centralized API / CSV
MetaMask Wallet API / Manual
Trezor Hardware Wallet CSV

With support for such a wide array of cryptocurrencies and exchanges, Koinly ensures that all your assets and transactions are accounted for, providing you with a comprehensive overview and accurate reporting.

Pricing Plans

Koinly offers a range of pricing plans designed to meet the needs of different types of cryptocurrency users. Whether you're just getting started or managing a large portfolio, Koinly has a plan that fits your requirements and budget.

Free Plan

The Free Plan is ideal for newcomers who are just starting out with cryptocurrency trading. It includes:

  • Up to 10,000 transactions
  • Basic portfolio tracking
  • Manual CSV import and portfolio management
  • Basic capital gains report

This plan offers a cost-free way to explore Koinly’s features and capabilities.

Hobbyist Plan

Priced at €39 per year, the Hobbyist Plan is perfect for casual traders. It includes all the features of the Free Plan plus:

  • Up to 100 transactions
  • API integration for automatic data import
  • Comprehensive tax reports
  • Customer support via email

This plan provides additional convenience with its automated data import and enhanced reporting features.

Trader Plan

For more active traders, the Trader Plan is available at €89 per year. It includes everything in the Hobbyist Plan, along with:

  • Up to 1,000 transactions
  • Advanced portfolio analysis
  • Priority customer support

This plan is designed for users who need more detailed tracking and reporting capabilities.

Pro Plan

The Pro Plan, at €169 per year, caters to professional traders managing substantial portfolios. It includes all benefits of the Trader Plan, in addition to:

  • Up to 10,000 transactions
  • Extended transaction history for accurate reporting
  • Exclusive access to new features and updates

This plan offers the most comprehensive set of tools and resources for high-volume traders.

Plan Price (per year) Transactions
Free €0 Up to 10,000
Hobbyist €39 Up to 100
Trader €89 Up to 1,000
Pro €169 Up to 10,000

Each of these plans is tailored to provide value at different levels of trading activity, ensuring that you get the features you need without paying for extras you don't use.

"Koinly’s pricing plans are flexible and cater to a wide range of trading needs, making it accessible for everyone from beginners to professional traders." — Satisfied User

How to Integrate and Import Data

One of Koinly’s strengths is its seamless integration and data import capabilities. With support for over 300 exchanges and wallets, importing your transaction data is straightforward and hassle-free. Here's a step-by-step guide on how to integrate and import data into Koinly.

Step 1: Sign Up and Log In

First, create an account on the Koinly platform. Once you have registered, log in to access your dashboard. The user-friendly interface will guide you through the setup process.

Step 2: Add Your Wallets and Exchanges

To add your wallets and exchanges:

  1. Navigate to the “Wallets” tab on the dashboard.
  2. Click on “Add Wallet” or “Add Exchange”.
  3. Search for your specific wallet or exchange from the list.

Step 3: Choose Your Import Method

Koinly offers multiple methods for importing transaction data:

  • API Integration: Most exchanges and some wallets support API keys for automatic data synchronization. Simply enter your API key and secret for real-time data import.
  • CSV/Excel Files: For platforms that do not support API integration, you can manually upload your transaction history using a CSV or Excel file. Follow the specific instructions provided by Koinly for formatting these files.
  • Public Address: For certain wallets, just input your public address for automatic synchronization. This method is commonly used for blockchain explorers.

Step 4: Review Imported Data

Once the data is imported, it is essential to review it to ensure accuracy:

  • Check for any missing transactions or discrepancies.
  • Categorize transactions appropriately (e.g., trade, transfer, mining).
  • Ensure transaction dates and amounts are correct.

Step 5: Reconcile and Confirm Transactions

Use Koinly’s tools to reconcile and confirm all imported transactions. This step ensures that your tax reports will be accurate and compliant with relevant regulations.

Troubleshooting

If you encounter any issues during the import process, Koinly provides extensive resources, including:

  • Help Center: Detailed guides and FAQs to resolve common issues.
  • Customer Support: Access to email and live chat support for personalized assistance.
Import Method Description
API Key Automatic real-time synchronization using API keys from exchanges and wallets.
CSV/Excel Manual import by uploading transaction history files.
Public Address Automatic synchronization using the wallet's public address.
"Integrating my exchanges and wallets with Koinly was easy and efficient. The API integration made sure my data was always up-to-date automatically." — Satisfied User

By following these steps, you can ensure that all your cryptocurrency transactions are accurately imported into Koinly, enabling seamless tax reporting and portfolio tracking.

Portfolio Tracking and Performance Analysis

Keeping an eye on your cryptocurrency portfolio's performance is crucial for making informed investment decisions. Koinly excels in providing detailed portfolio tracking and performance analysis, ensuring that you have a clear understanding of your holdings.

Real-Time Portfolio Tracking

Koinly offers real-time tracking of your cryptocurrency portfolio, allowing you to monitor the current value of your assets. Here are some key features:

  • Live Price Updates: Get real-time price updates for all supported cryptocurrencies.
  • Asset Allocation: View the distribution of different cryptocurrencies in your portfolio.
  • Performance Metrics: Track your portfolio’s performance over various time frames (daily, weekly, monthly).

Detailed Performance Analysis

Koinly provides comprehensive tools for analyzing the performance of your investments. This includes various metrics and visual graphs that help you understand your portfolio’s behavior.

Metric Description
Capital Gains Calculate your gains or losses from the difference between the buying and selling prices.
Formula: Capital Gain/Loss = Selling PricePurchase Price
ROI (Return on Investment) Measure the efficiency of your investments.
Formula: ROI = (Current ValueInitial Investment) ÷ Initial Investment · 100%
Income Tracking Track all your earnings from mining, staking, and other activities.

Customizable Dashboard

Koinly's dashboard is customizable, allowing you to configure it to display the most relevant information for your needs. You can set up widgets to monitor specific cryptocurrencies, track recent transactions, or analyze performance metrics.

Notifications and Alerts

Stay updated with Koinly’s notification system. You can set up alerts for significant changes in your portfolio value or receive notifications for upcoming tax deadlines.

Portfolio Performance Reporting

Generate detailed reports on the performance of your portfolio over any selected time period. These reports can be exported in various formats, including PDF and Excel, making it easy to share with your financial advisor or store for personal records.

Balanced portfolio tracking and in-depth performance analysis are key to managing your cryptocurrency investments effectively. Koinly's tools provide all the necessary insights to help you make informed decisions and optimize your trading strategies.

"Koinly’s portfolio tracking tools give me a real-time view of my investments, which helps me stay on top of market movements and maximize my returns." — Experienced Investor

Generating and Exporting Tax Reports

One of Koinly's standout features is its ability to generate comprehensive and compliant tax reports for cryptocurrency transactions. These reports can be easily exported in a variety of formats, ensuring compatibility with your tax filing needs.

Step-by-Step Guide to Generating Tax Reports

Follow these steps to generate your tax reports using Koinly:

Step 1: Review Transactions

  • Ensure that all transactions are correctly imported and categorized. Double-check for any missing or incorrect data.
  • Verify that transactions are labeled appropriately (e.g., trade, transfer, mining income).

Step 2: Select Tax Year

Choose the specific tax year for which you need the report. Koinly allows you to generate reports for multiple tax years, providing flexibility for past and current filings.

Step 3: Choose Tax Calculation Method

Select the appropriate tax calculation method based on your jurisdiction’s rules. Koinly supports various methods including:

  • FIFO (First In, First Out): Assumes that the first assets you acquired are the first ones you sell or trade.
  • LIFO (Last In, First Out): Assumes that the latest assets you acquired are the first ones you sell or trade.
  • HIFO (Highest In, First Out): Prioritizes the sale of the most expensive assets first.

Step 4: Generate Report

Once all settings are configured, click the “Generate Report” button. Koinly will compile your data into a detailed tax report that includes:

  • Capital Gains: Detailed breakdown of gains and losses.
  • Income from Mining, Staking, and Airdrops: Comprehensive income report.
  • Expenses: Record of deductible expenses for accurate tax filings.

Exporting Tax Reports

Koinly offers multiple export options to ensure compatibility with various tax filing requirements and software:

  1. PDF: Ideal for submitting reports or keeping a permanent record.
  2. CSV/Excel: Useful for importing data into other financial systems or tax software.
  3. Tax Software Integration: Directly export data to popular tax software like TurboTax and TaxAct.
Report Type Details Export Formats
Capital Gains Report Breakdown of capital gains and losses based on selected tax method. PDF, CSV, Excel
Income Report Summary of income from mining, staking, and airdrops. PDF, CSV, Excel
Expense Report Record of expenses that can be deducted from total income. PDF, CSV, Excel

Final Review and Filing

Before finalizing your tax report, review it for any last-minute adjustments or corrections. Once satisfied, you can proceed to file your taxes either by yourself or through a tax professional. Koinly's detailed and compliant reports simplify this process, making it easier to meet your tax obligations.

"The tax reports generated by Koinly made filing my crypto taxes straightforward and stress-free. The various export options fit perfectly with my tax software." — Satisfied User

Customer Support and User Experience

Koinly places a strong emphasis on customer support and user experience, ensuring that users have access to the assistance they need and a platform that is easy to navigate. Here's what you can expect from Koinly in terms of support and user usability.

24/7 Customer Support

Koinly offers round-the-clock customer support to address any questions or issues you may encounter. Their support channels include:

  • Live Chat: Access instant help from customer support representatives through the live chat feature available on the Koinly website.
  • Email Support: For more detailed inquiries, you can email the support team, who typically respond within a few hours.
  • Help Center: A comprehensive library of articles, guides, and FAQs is available to help you troubleshoot common issues and make the most of the platform's features.

User-Friendly Interface

Koinly is designed with a user-centric approach, making it accessible for both beginners and experienced traders. Key aspects of the user interface include:

Intuitive Dashboard

The dashboard is the central hub where you can view your portfolios, transactions, and reports. It is designed to be intuitive, with clear navigation and easy access to important information. You can customize the dashboard to display the data that matters most to you.

Easy Setup and Integration

Setting up your Koinly account and integrating your wallets and exchanges is straightforward. The platform provides step-by-step instructions and prompts to guide you through the process, ensuring a smooth initial setup.

Data Security

Koinly prioritizes the security of your data. They use advanced encryption techniques to safeguard your information and offer two-factor authentication (2FA) to add an extra layer of protection to your account.

Comprehensive Tutorials and Guides

Koinly offers a range of tutorials and guides to help you understand the features and functionalities of the platform. These resources are particularly useful for new users who may need extra assistance in navigating the platform.

Feature Details
Live Chat Instant assistance via real-time chat
Email Support Detailed inquiries answered within a few hours
Help Center Comprehensive guides, FAQs, and troubleshooting resources
Two-Factor Authentication (2FA) Enhanced account security with 2FA
Encrypted Data Advanced encryption techniques to protect your data
"The user interface of Koinly is extremely intuitive, and the customer support team is always there to help. It's one of the most user-friendly platforms I've used in the crypto space." — Happy User

Overall, Koinly offers an excellent combination of user-friendly design and robust customer support, making it a top choice for anyone looking to manage their cryptocurrency taxes and portfolio with ease.

Alternatives to Koinly

While Koinly offers a comprehensive suite of features for cryptocurrency tax reporting and portfolio management, it's always good to be aware of other options in the market. Here are a few noteworthy alternatives to Koinly:

CoinTracking

CoinTracking is a popular choice among cryptocurrency traders and investors for its robust tracking and tax reporting features. Key highlights include:

  • Detailed Reports: Offers various types of reports, including capital gains, income, and balance reports.
  • Integrations: Supports over 70 exchanges and wallets with API and CSV import options.
  • Analysis Tools: Provides tools for analyzing your portfolio's performance over time.
  • Pricing Plans: Free tier with paid plans starting at $149 per year for advanced features.

CryptoTrader.Tax

CryptoTrader.Tax is another excellent tool for crypto tax reporting, known for its user-friendly interface and detailed tax reports. Key features include:

  • Easy Import: Supports API and CSV imports from major exchanges and wallets.
  • Automated Tax Reports: Generates IRS-compliant tax reports in minutes.
  • Audit Trail: Keeps a detailed audit trail of all transactions for transparency.
  • Pricing: Plans start at $49 per tax season, with different tiers based on the number of transactions.

Accointing

Accointing offers a blend of portfolio management and tax reporting features, tailored for both individual investors and businesses. Key features include:

  • Comprehensive Analytics: Provides in-depth analytics to help you understand your portfolio performance.
  • Multiple Integrations: Supports over 300 exchanges and wallets for easy data import.
  • Tax Reports: Generates tax reports compliant with various jurisdictions.
  • Pricing: Free plan available, with premium plans starting at $79 per year.

Blockpit

Blockpit is geared towards European users, offering a range of features for seamless tax reporting and portfolio tracking. Notable features include:

  • Regulatory Compliance: Ensures compliance with European tax regulations.
  • Secure Integration: Uses API keys and CSV imports to integrate with numerous exchanges and wallets.
  • Real-Time Tracking: Offers real-time portfolio tracking and performance analysis.
  • Pricing: Offers both free and premium plans, with advanced features available at €99 per year.
Tool Key Features Pricing
CoinTracking Detailed Reports, Exchange Integrations, Portfolio Analysis Free, Paid Plans from $149/year
CryptoTrader.Tax Automated Reports, Easy Import, Audit Trail From $49/year
Accointing Analytics, Multi-Integrations, Tax Reports Free, Paid Plans from $79/year
Blockpit EU Compliance, Secure Integration, Real-Time Tracking Free, Paid Plans from €99/year
"Switching between different crypto tax tools can provide diverse features tailored to specific needs, so exploring alternatives to Koinly can be beneficial." — Crypto Enthusiast

Each of these alternatives offers unique strengths, catering to different requirements and preferences. Whether you need advanced analytics, comprehensive tax reports, or seamless integration options, these tools provide viable options to consider alongside Koinly.

Conclusion

Koinly is a powerful tool that simplifies cryptocurrency tax reporting and portfolio management. Its extensive feature set, ease of use, and robust customer support make it an excellent choice for both novice and experienced traders. By automating the transaction tracking process and offering real-time portfolio analysis, Koinly saves users significant time and effort, while ensuring compliance with tax regulations.

Key Takeaways

  • Comprehensive Integration: Supports over 300 exchanges and wallets with easy API and CSV imports.
  • Automated Tax Reporting: Generates detailed, compliant tax reports with various export options.
  • Real-Time Tracking: Provides insightful portfolio tracking and performance analysis.
  • Flexible Pricing: Offers a range of plans to suit different needs, from beginners to professional traders.
  • Excellent Support: 24/7 customer support and a wealth of helpful resources ensure a smooth user experience.

Who Should Use Koinly?

Koinly is ideal for:

  • Beginners: Users new to cryptocurrency trading who require a simple yet effective tool for tax reporting and portfolio management.
  • Active Traders: Those who handle multiple transactions and need automated tracking and detailed performance analysis.
  • Compliance Seekers: Individuals who need to ensure full compliance with tax regulations across various jurisdictions.
  • Businesses: Enterprises managing large portfolios and requiring integration with accounting software.

In Summary

Koinly provides a seamless and comprehensive solution for managing cryptocurrency taxes and portfolios. With its extensive features, real-time tracking, and excellent customer support, Koinly ensures that users can efficiently handle their crypto investments and stay compliant with tax obligations.

"Using Koinly has streamlined my crypto tax processes and provided valuable insights into my portfolio performance. The user-friendly interface and robust features make it a top choice for any crypto investor." — Satisfied User

Choosing the right tool for cryptocurrency management can significantly impact your trading efficiency and compliance. Koinly, with its wide array of features and ease of use, stands out as a reliable solution in the rapidly evolving world of digital assets.


Frequently Asked Questions about Koinly

What is Koinly and how does it work?

Koinly is a crypto tax software platform designed to simplify tax reporting for cryptocurrency users. It works by automatically tracking your transactions across multiple exchanges and wallets, categorizing them, and generating detailed tax reports that comply with various jurisdictions' regulations.

How do I import my transaction data into Koinly?

You can import your transaction data into Koinly via API keys for real-time synchronization or by manually uploading CSV/Excel files. Koinly also allows for data import using public addresses for certain wallets, ensuring all your transactions are accurately recorded.

Is Koinly secure to use?

Yes, Koinly prioritizes data security by employing advanced encryption techniques and offering two-factor authentication (2FA) to protect your account and data. It ensures that all your information is stored securely.

What types of tax reports can Koinly generate?

Koinly can generate a variety of tax reports including capital gains, income from mining and staking, and expense deductions. These reports can be exported in multiple formats such as PDF, CSV, and Excel, and can also integrate with popular tax software like TurboTax and TaxAct.

What are the pricing plans for Koinly?

Koinly offers several pricing plans to cater to different needs. The Free Plan supports up to 10,000 transactions with basic portfolio tracking. Paid plans include the Hobbyist Plan (€39/year for up to 100 transactions), Trader Plan (€89/year for up to 1,000 transactions), and Pro Plan (€169/year for up to 10,000 transactions). Each plan offers additional features like API integration, detailed tax reports, and priority customer support.

No Investment Advice According to the Securities Trading Act (WpHG)

The content on this website is solely for the information and entertainment of readers and does not constitute investment advice or a recommendation according to the Securities Trading Act (WpHG). The content on this website reflects only our subjective, personal opinion.

Readers are expressly encouraged to form their own opinions regarding the content of this website and to seek professional and independent advice before making any specific investment decisions.

We report on our experiences with the respective providers and receive commissions according to the partner conditions. Our test reports are based on real tests and are documented via screenshots. Proof can be requested at any time.

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Article Summary

Koinly is a cryptocurrency tax management tool that automates transaction tracking across various exchanges and wallets, generating accurate and compliant tax reports for multiple jurisdictions. It offers features like real-time portfolio tracking, diverse cryptocurrency support, customizable dashboards, and integration with accounting software to simplify the process of managing crypto taxes for both novice and experienced traders.

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Useful tips on the subject:

  1. Automate Your Data Imports: Use Koinly’s API integration to automatically import your transactions from various exchanges and wallets. This saves time and reduces the risk of manual errors.
  2. Ensure Accurate Tax Calculations: Familiarize yourself with the different accounting methods (FIFO, LIFO, HIFO) supported by Koinly to choose the one that best fits your tax strategy and jurisdictional requirements.
  3. Stay Compliant with Tax Regulations: Use Koinly to generate tax reports tailored to your specific country’s regulations. This ensures that your tax filings are accurate and compliant.
  4. Leverage Real-Time Portfolio Tracking: Monitor your portfolio’s performance in real-time using Koinly’s tracking tools. This helps you make informed investment decisions based on the latest data.
  5. Utilize Customer Support and Resources: Take advantage of Koinly’s 24/7 customer support and extensive help center to resolve any issues quickly and get the most out of the platform.