CryptoTaxCalculator vs. Koinly

Which crypto tax app is better, Koinly or CryptoTaxCalculator?

Looking for a crypto tax calculator that features everything you need to calculate and report your crypto taxes? If you’re torn between Koinly and CryptoTaxCalculator, check out our side–by–side comparison for everything you need to know.

With a more generous free plan and more features packed into more affordable plans, as well as more integrations and better international support, Koinly looks like the obvious choice - but let’s dive into a full comparison between the two platforms to get the full picture.

Integrations

It’s vital your chosen crypto tax tool supports everything you need it to, otherwise, you’ll end up needing to create CSV files to manually import your data - and in this regard, Koinly wins as it supports more integrations overall, particularly crypto exchanges, than CryptoTaxCalculator.

While CryptoTaxCalculator claims to support 2934 integrations, the vast majority of these are made up of DeFi protocols that would be supported via a given wallet address - for example, Uniswap would be supported using your Ethereum address and so on. Koinly also supports DeFi protocols for Ethereum, EVM-based blockchains, and many other blockchains with their own DeFi ecosystems, but doesn’t count these as integrations in their own right. If these are disregarded, CryptoTaxCalculator actually supports just over 600 integrations, while Koinly supports more than 800. 

As well as this, Koinly supports users in getting the data imported correctly with a wealth of educational content, including more than 195 YouTube videos showing users exactly how to connect to Koinly and easily import their transaction data, while CryptoTaxCalculator focuses mainly on marketing-related YouTube content.

Portfolio tracking

Both Koinly and CryptoTaxCalculator function as free portfolio trackers. Both platforms feature a dashboard that allows you to view your portfolio performance on both a macro and micro level - including unrealized gains and losses, real-time market data, ROI, and more. Koinly includes marginally more information for individual assets in the form of market cap, rank, and cost per unit.

As well as this, Koinly has a dedicated NFT dashboard that lets you preview your NFTs, and view information relating to cost basis, unrealized gains/losses, and more, while CryptoTaxCalculator does not yet have this feature.

DeFi, NFTs, margin trading, and derivatives

Koinly and CryptoTaxCalculator both offer excellent support for a variety of common (and less common) transactions - the key difference between the two is the price you’ll pay. Both support more common transactions and assets like airdrops, NFTs, and mining and staking rewards. While both platforms support more complicated transactions, with Koinly, all this is included as standard, free, or with any plan. Meanwhile, CryptoTaxCalculator only offers support for smart contract transactions and automated on-chain transactions from the hobbyist plan and up.

As well as this, Koinly features superior NFT support thanks to its NFT dashboard that allows you to manage your NFT transactions in one place, as well as view dedicated information around your NFTs including unrealized gains and losses. While CryptoTaxCalculator supports NFTs, it lacks this feature.

Free plan

Both Koinly and CryptoTaxCalculator offer a free plan so you can try before you buy, but CryptoTaxCalculator locks many features behind paywalls, so you can’t get the full experience until you’ve upgraded to a specific plan. Moreover, even with the lowest-paid plan on CryptoTaxCalculator, you still won’t have access to specific features. For support for automated on-chain transactions and smart contract transactions, you’ll need the hobbyist plan as a minimum (starting from $99), and for access to features like a tax loss harvesting dashboard and switch between cost basis methods, you’ll need the investor plan, starting from $249.

Meanwhile Koinly with Koinly, users can enjoy all available features including a free tax loss harvesting tool, as well as preview your tax summary before you purchase a plan to make sure you’re happy with it, the only thing you can’t do is download a report.

Usability and features

Taxes are painful enough, so you want the time you spend doing your crypto taxes to be as stress-free as possible, and when it comes to usability, Koinly takes the lead.

While both platforms feature easy automatic import via API and the ability to automatically tag and categorize transactions, Koinly’s automatic error detection (and subsequent help content) is far superior. CryptoTaxCalculator does have automatic error detection, but the platform only tells you there is a potential error, without links to any guidance on how to resolve it. Meanwhile, with Koinly’s automatic error detection, any potential issues are flagged next to your wallet, and you’ll be linked to specific help content to help you resolve any issues step-by-step. 

As well as this, as we’ve already mentioned, some features for CryptoTaxCalculator are limited to only specific (and more expensive) plans. This includes support for automatic on-chain transactions and smart contract transactions, as well as a tax loss harvesting lool, specific reports, and multiple inventory methods.

Customer support

Both Koinly and CryptoTaxCalculator stand out from the crowd of crypto tax tools with superior customer support. Both offer email and live chat support as standard for all plans and have 4.8-star and 4.9-star scores on TrustPilot respectively. It is worth noting that while CryptoTaxCalculator scores slightly higher, their average score is from far fewer reviews at 370, while Koinly’s score comes from more than 1,500 reviews.

Bonus: For investors with more complicated transactions, Koinly offers an expert review service starting from $499 (price varies on season and demand). With this service, one of Koinly’s experts will go through all of your transactions with a fine-tooth comb to ensure everything is as it should be so you can file with confidence knowing your calculations are correct.

Supported Countries 

Both Koinly and CryptoTaxCalculator offer excellent support for both US and Australian investors, and both platforms have a strong presence in each country. For US investors, both platforms offer IRS Form 8949 and Schedule D, as well as reports for tax filing software like TurboTax.

And for Australian investors, both platforms offer a dedicated ATO myTax Report that includes everything you need to easily file using the myTax site.

However, when it comes to support for other countries, Koinly far outshines CryptoTaxCalculator, with more dedicated reports and more general reports. Koinly offers specific reports for the UK, Sweden, France, Finland, Denmark, and Switzerland, as well as 15 more general crypto tax reports, including a Complete Tax Report, that can help users file in many more countries.

Meanwhile, for investors outside the US and Australia, CryptoTaxCalculator only offers 11 general reports - some of which are only available on plans starting from $249.

Conclusion: Koinly wins!

While both tools will get the job done, overall Koinly offers more for less, with more features available to users whether they’re paying or not, alongside more integrations and better international support.