The best alternative to Koinly
13 Aug, 2023 · 9 min read
The world of cryptocurrencies is complex and constantly changing. To succeed in this dynamic environment, investors need the right tools to manage their investments and optimize taxes. But is Koinly really the best option on the market? In this article, we shed light on the current situation and offer a powerful alternative to Koinly that is superior in many aspects.
What is Koinly?
Koinly is a cryptocurrency tax calculation platform. It helps cryptocurrency traders and investors to calculate and manage their tax liabilities related to cryptocurrency transactions. Koinly supports various exchanges, wallets, and cryptocurrencies, making it easier for users to import their transaction data and generate accurate tax reports.
We now take a closer look at CoinTracking and show why the market leader is considered the best alternative to Koinly.
CoinTracking vs Koinly
CoinTracking has established itself globally and has been on the market since 2012. The platform is a superior alternative and not only offers all the features like Koinly, but has additional advantages and features.
Price
There are notable differences between the two platforms in terms of pricing. CoinTracking outperforms its competitor with a better price-performance ratio across all pricing models. Furthermore, Koinly doesn’t provide corporate accounts.
For instance, CoinTracking offers a completely free option for up to 200 transactions including tax report functionality, while with the free plan from Koinly you will not be allowed to generate a tax report.
CoinTracking also offers an unlimited lifetime account, which can be particularly appealing for traders or DeFi applications. Koinly instead only offers unlimited plans only per tax year. So it’s easy to understand the more transactions you have, the more you will benefit with CoinTracking.
Additionally, you have to pay extra for the daily sync. add-on with Koinly, while with CoinTracking you can enjoy an all-in one solution.
CoinTracking price chart
|
|
Transactions | |||||
|---|---|---|---|---|---|---|
| Plan | 200 | 3.500 | 20.000 | 50.000 | 100.000 | Unlimited |
| 1 year | 0 | $115.00 | $220.00 | $284.00 | $388.00 | $775.00 |
| 2 years | 0 | $206.00 | $335.00 | $439.00 | $620.00 | $1,188.00 |
| Lifetime | 0 | $408.00 | $967.00 | $1,398.00 | $2,044.00 | $6,026.00 |
Koinly price chart
| Transactions | ||||||||
|---|---|---|---|---|---|---|---|---|
| Tax year | 100 | 1.000 | 3.000 | 10.000 | 20.000 | 50.000 | 100.000 | unlimited |
| 2023 | $49.00 | $99.00 | $179.00 | $279.00 | $379.00 | $679.00 | $1,179.00 | ❌ |
| 2023/2022 | $98.00 | $198.00 | $358.00 | $558.00 | $758.00 | $958.00 | $1,458.00 | ❌ |
| 2023/2022/2021 | $147.00 | $297.00 | $537.00 | $837.00 | $1,137.00 | $1,237.00 | $1,737.00 | ❌ |
|
2023/2022/2021/2020 |
$196.00 | $396.00 | $716.00 | $1,116.00 | $1,516.00 | $2,716.00 | $4,716.00 | ❌ |
|
2023/2022/2021/2020/2019 |
$245.00 | $495.00 | $895.00 | $1,395.00 | $1,895.00 | $3,395.00 | $5,895.00 | ❌ |
|
Dual Nationality (+1 country) |
$49.00 | $49.00 | $49.00 | $49.00 | $49.00 | $49.00 | $49.00 | |
| Daily Sync addon | $49.00 | $49.00 | $49.00 | $49.00 | $49.00 | $49.00 | $49.00 | |
Features
In terms of security you will be on the safe side with CoinTracking as it provides two-factor-authentication, available on both android and iOS. Whereas Koinly lacks this security feature and neither does it provide an iOS App. To understand the benefits of CoinTracking even more, let’s take a look at the core features of both platforms.
Portfolio Tracker
Portfolio tracking features are crucial for real-time monitoring of crypto investments and obtaining detailed information on the portfolio performance.
| CoinTracking | Koinly | |
|---|---|---|
| Historical Charts | 26.000+ | ❌ |
|
Current price |
26.000+ | 20.000+ |
| Total Value per Coin | ✅ | ✅ |
| Total Portfolio balance | ✅ | ✅ |
| Total Fiat balance | ✅ | ✅ |
| Total Trades | ✅ | ❌ |
| Trades per Exchange | ✅ | ❌ |
| Trades per Month | ✅ | ❌ |
| Balance by Day | ✅ | ✅ |
| Balance by Exchange | ✅ | ✅ |
| Balance by Currency | ✅ | ✅ |
Import of transactions
Both platforms offer to import transactions from various exchanges, wallets, and blockchains. However, CoinTracking surpasses in this aspect by providing more extensive options for importing transactions overall. It is especially appreciated by customers that all import functions work smoothly and without errors.
Another important aspect in terms of convenience is that with Koinly you can only view 25 transactions per page, while with CoinTracking you can see up to 50.000 entries per page, which makes navigation much easier.
| CoinTracking | Koinly | |
|---|---|---|
| Exchanges | 141 | 400+ |
| Wallets & Blockchains | 200+ | 270+ |
| API Importer | 55 | available |
| CSV Importer | 86 | available |
| Legacy Importer | 22 | 3 |
| Transactions limit | unlimited (lifetime) | unlimited (per year) |
| Transaction types | 41 | 19+ |
| (buy, sell, send, etc.) | ||
| Backups | 20 | no |
| Sub-accounts | yes | no |
Portfolio Analysis Reports
These reports provide deep insights into your portfolio performance. Compared to Koinly, CoinTracking’s reports are significantly more comprehensive, making them a valuable tool for any crypto investor.
| CoinTracking | Koinly | |
|---|---|---|
| Current Balance | ✅ | ✅ |
| Balance by Exchange | ✅ | ❌ |
| Balance by Currency | ✅ | ❌ |
| Coins by Exchange | ✅ | ❌ |
| Realized Gains | ✅ | ✅ |
| Unrealized Gains | ✅ | ✅ |
| Tax-privileged Coins (Short & Long) | ✅ | ✅ |
| Missing Transactions | ✅ | ❌ |
| Duplicate Transactions | ✅ | ❌ |
| NFT Center | ✅ | ❌ |
| Average Purchase Prices | ✅ | ❌ |
| Coin Charts | ✅ | ❌ |
| Coin Price Calculator | ✅ | ❌ |
| User Statistics | ✅ | ❌ |
| API Live Data check | ✅ | ❌ |
| Trading Statistics | ✅ | ❌ |
| Trading List | ✅ | ❌ |
| Trading Pricees | ✅ | ❌ |
| Trading Fees | ✅ | ❌ |
| Number of Trades | ✅ | ❌ |
Tax report types
| CoinTracking | Koinly | |
|---|---|---|
| Countries | 100+ | 25 |
| Tax methods | 14 | 9 |
| Transactions | unlimited | unlimited |
| Capital gains | ✅ | ✅ |
| Income | ✅ | ✅ |
| Margin gains | ✅ | ✅ |
| Gifts and donations | ✅ | ✅ |
| Fees | ✅ | ✅ |
| Lost and stolen Funds | ✅ | ✅ |
Tax Tool Integration
| CoinTracking | Koinly | |
|---|---|---|
| Turbotax | ✅ | ✅ |
| TaxACT | ✅ | ✅ |
| Drake | ✅ | ❌ |
| Wiso Steuer | ✅ | ❌ |
| Wealthsimple | ❌ | ✅ |
| HR block | ❌ | ✅ |
Tax Forms
| CoinTracking | Koinly | |
|---|---|---|
| USA (Form 8949) | ✅ | ✅ |
| USA (Form 8938) | ✅ | ❌ |
| USA (Form 1040) | ✅ | ❌ |
| USA (Schedule D) | ❌ | ✅ |
| Canada | ✅ | ✅ |
| Germany | ✅ | ❌ |
| Austria | ✅ | ❌ |
| UK | ✅ | ✅ |
| New Zealand | ✅ | ❌ |
| Australia | ✅ | ✅ |
| Sweden | ❌ | ✅ |
| France | ❌ | ✅ |
| Finland | ✅ | ✅ |
| Denmark | ✅ | ✅ |
| Norway | ❌ | ✅ |
| Swiss | ❌ | ✅ |
| Italy | ✅ | ❌ |
| Belgium | ✅ | ❌ |
| Spain | ✅ | ❌ |
| India | ✅ | ❌ |
Countries and languages
CoinTracking offers tax reports for over 100 countries worldwide in 15 different languages.
| CoinTracking | Koinly | |
|---|---|---|
| Countries | 100+ | 25 |
| Languages | English, German, Spanish, French, Italian, Polish, Portuguese, Indian, Russian, Albanian, Turkish, Vietnamese, Catalan, Korean, Chinese |
English |
Switch to CoinTracking
To take advantage of CoinTracking, it doesn’t require a lot of effort. However, there are a few basic steps that should be followed.
Recapture transactions – Recommended!
It is recommended to export the complete transaction history from Koinly. All transactions should then be re-entered into CoinTracking. This will ensure that all information is complete and accurate.
Importing data from Koinly into CoinTracking
Entering transactions can either be done manually for a manageable amount of data, or via an automatic import of an Excel or CSV file. Once the data is imported into CoinTracking, it is important to carefully review and verify its completeness and correctness.
Frequently Asked Questions
about Koinly alternatives
Conclusion
CoinTracking offers a superior alternative for crypto portfolio management and tax reporting. With its comprehensive features and affordable pricing, the platform is an excellent choice for those who value reliable portfolio management and want to efficiently generate tax reports.
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