Recap vs. Koinly

Compare two leading UK crypto tax software providers, Koinly and Recap, to see which one will help you track your portfolio and calculate your taxes.

This guide breaks down the differences between Koinly and Recap, from integrations and automations to international support, so you can find a crypto tax calculator that has everything you need.

Integrations

A software that has native support for your exchanges, wallets, and blockchains can reduce the manual work you have to take on to calculate your taxes.

That’s why Koinly takes the lead when it comes to integrations, with 1,000+ total integrations and 500+ auto-sync integrations (API). Many users can sync their accounts without any CSVs.

Recap has limited integrations, providing support for just over 40, and around 20 of those are auto-sync. They do have the option to create custom CSV files in the Recap format, but that can quickly add up to hours of work if you’re a more active trader.

Portfolio tracking

Both platforms feature a portfolio tracking dashboard to help users keep track of their holdings and performance. 

While Recap allows users to see an overview of their portfolio, many features of the tracker are hidden behind a pay wall, such as viewing unrealized gains and ROI. This information is important in maximising your investments to get the best tax outcome for you. 

Koinly offers all features on its portfolio dashboard for free, including unrealized gains and losses and the tax loss harvesting feature. Meaning users can reconcile their data and calculate their taxes before paying to upgrade.

DeFi, NFTs, margin trading, and derivatives

Crypto tax gets more complicated when you factor in transactions like DeFi. Finding a crypto tax calculator that can handle this will save you hours reviewing your data.

Both Koinly and Recap cover all transaction types from DeFi, futures, and other derivatives, to mining, staking, lending, NFTs, and airdrops. However, these platforms differ in the amount of support they offer.

Koinly has support for over 7,000 DeFi protocols across 200+ blockchains, including Ethereum, Solana, Polygon, Cardano, Binance Smart Chain, and more. Recap does offer DeFi support, but it’s at a much smaller scale, limited to Ethereum, BNB Chain, Polygon, Optimism, and Arbitrum.

Free plan

Both Recap and Koinly offer a free plan with excellent features, including a preview of your tax liability, rich transaction data, and an NFT dashboard. But Koinly’s free plan also includes a free tax loss harvesting tool that can help you optimize your tax liability ahead of the end of the financial year.

Usability and features

Koinly and Recap offer a range of transaction filters and tags, allowing you to easily categorize and locate different transaction types. 

Both platforms also feature automatic error detection, which is incredibly helpful in making sure the data you’ve imported is accurate for your reports.

Koinly stands out for its user experience. Alongside automatic error detection at a wallet level, it offers in-app guidance to help you resolve any issues quickly, and it’s better at filtering out spam tokens so you spend less time manually tagging any fake airdrops.

While both platforms give users the ability to adjust tax settings, Koinly has a much wider range of options for you to choose from, depending on how you and your accountant have decided to approach your taxes.

Customer support

Both Koinly and Recap have excellent Trustpilot reviews, with 4.6 stars and 4.8 stars, respectively. Users comment on the helpful and fast customer support on both platforms. However, Koinly is more established with 2,200+ reviews compared to Recap's 100+ reviews. 

Users have compared Koinly and Recap, commenting on a wider range of API connections and the ease of ensuring transactions are correct on Koinly.

Both platforms offer support through email, live chat, and a help center. Koinly offers an expert review service, where a data expert goes through all of your transaction data to ensure it’s accurate and calculated correctly, so you can file with confidence.

Reputation and security

Koinly is teamed up with some of the leading names in both crypto and tax, including Binance, MetaMask, Coinspot, Revolut, and Nexo, while Recap benefits from partnerships with the likes of Coinpass and Hoptrail.

Both Koinly and Recap take your data protection seriously, ensuring all data is encrypted and have not experienced any direct data breaches to date.

Koinly is ISO 27001 and SOC 2 certified. It is unclear from publicly available information which certifications Recap has.

Supported countries 

For investors in the UK, both Koinly and Recap offer an HMRC Capital Gains Summary, making it simple to report your crypto to the tax office.

While Recap offers TurboTax reports, they lack any IRS support, only offering generic reports for US and international users. Koinly offers specialized reports for many countries, including the US, Australia, Canada, and European countries, as well as 15 additional reports that can help users file from anywhere.

Conclusion: Which is better?

Although we might be a little biased, we believe Koinly comes out ahead with far more integrations, a better freemium model, more international support, and better DeFi support. We’ll continue to work to keep our product as a market leader.