Coinpanda vs. Koinly

Which crypto tax app is better, Koinly or Coinpanda?

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 Coinpanda, check out our side–by–side comparison for everything you need to know.

Integrations

It’s important your crypto tax software supports all the blockchains, wallets, and exchanges you use so you can easily import data into your tool, otherwise, you’ll end up having to create custom CSV files to import your data. Koinly supports more than 800 integrations, compared to 426 from Coinpanda, and in particular, leads the way when it comes to automated exchange and blockchain support.

As well as this, Koinly has invested in user education, with more than 195 YouTube videos, walking you through how to connect to hundreds of different platforms.

Portfolio tracking

Koinlyl and Coinpanda aren’t just crypto tax calculators, they also function as crypto 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.

DeFi, NFTs, margin trading, and derivatives

Both Koinly and Coinpanda offer excellent support for transactions - from more common transactions like mining and staking rewards to less common transactions like margin trades, derivatives, and DeFi transactions. In most instances, both platforms will tag these automatically, saving investors hours of time figuring out how to categorize their income.

When it comes to NFTs, both platforms offer a dedicated NFT dashboard/center, but with Koinly’s, you get a lot more features in your dashboard, including the ability to preview your NFTs, view overall and individual asset cost basis, and your unrealized gains/losses.

Free plan

Both Koinly and Coinpanda offer free plans that include features like importing your transactions, a free tax loss harvesting tool, a free portfolio tracker dashboard, and a free NFT dashboard - but with Koinly, you get more when it comes to your tax calculations.

With Coinpanda, if you have more than 25 transactions, you’re unable to view a preview of your taxes, so you won’t know whether your calculations are correct until you pay. Whereas with Koinly, you can preview your rich tax summary (excluding Canadian users), including your capital gains, losses, income, expenses, and more before you ever pay a dime. 

Both platforms offer a free tax loss harvesting tool. With CoinPanda, you can look at unrealized gains and losses on individual assets, but as you can’t preview your tax liability until you upgrade to a paid plan, the tool doesn't work well for users on a free plan. Meanwhile, with Koinly, you can view unrealized losses and gains on a portfolio and individual asset level, as well as simulate selling assets to see how they impact your tax liability for the financial year, making it a much better tool to optimize your taxes.

Paid plans

Coinpanda offers a free plan for users with a total of 25 transactions or less, including generating your tax report. So for very low-volume traders, it may work out more competitively. When it comes to paid plans, Koinly comes out as the more affordable option, with comparative plans on Koinly and Coinpanda for up to 100 transactions starting at $49 per tax year for Koinly and $79 per tax year for Coinpanda. Plans with a higher transaction count also work out more competitively on Koinly compared to Coinpanda.

Usability and features

Both Koinly and Coinpanda strive to make crypto tax simple and save investors from hours spent on manual spreadsheets - but Koinly’s platform makes it easier than Coinpanda. You can take a look at the same transactions side by side (with Koinly on the left and Coinpanda on the right).

Coinpanda doesn’t automatically sync your data when you connect via API. That means when you connect your wallets, exchanges, and blockchains, you’ll need to prompt Coinpanda to sync your data. As well as this, you’ll need to prompt Coinpanda to auto-sync each time if you’re using it as a portfolio tracker, and while it’s not the end of the world to do this, Koinly does this automatically for you.

When it comes to importing your data, both platforms offer a variety of supported transaction types and you can filter transactions easily. But where Koinly stands out is with its automatic error detection. When you import your data with Koinly - it will immediately flag any potential issues with you and link you to help guides to guide you through how to resolve them. Whereas while Coinpanda can detect errors, you’ll need to find these yourself by filtering your transactions by warnings, and there are no obvious links to help guides to help you resolve them correctly. 

Customer support

Koinly scores an average of 4.8 stars from more than 1,600+ reviews on Trustpilot, while Coinpanda scores an average 3.9 stars from around 160 reviews.

Both platforms have a variety of support channels, including help guides, email support, live chat, and expert review services.  But there is a significant price difference between Koinly’s expert review service and Coinpanda’s, with Koinly using dynamic pricing between $499 - $1,999 depending on seasonal demand, and Coinpanda’s expert review service being priced at $1,459.

As well as this, many users of Coinpanda note that they were unable to receive a refund from Coinpanda, even when they faced technical limitations leading to inaccurate reports as outlined in Coinpanda's refund policy. Meanwhile, Koinly offers a more generous refund policy and offers calculations free of charge so you can check the numbers and make sure you're happy before you upgrade to a paid plan.

Reputation and security

Both Koinly and Coinpanda benefit from strong partnerships across the crypto industry with leading wallets and exchanges. Some notable names for Coinpanda include Trust Wallet and Uphold, while some notable names for Koinly include MetaMask, Binance, and Coinbase AU. Koinly also partners with leading tax software globally like Clear Tax, Crunch, and Wealthsimple, in order to make filing as easy as possible - however you do it.

Koinly is proudly SOC 2 and ISO 27001 certified. It's not clear what Coinpanda's security certifications are from publicly available information.

Supported countries 

Both Koinly and Coinpanda offer a variety of reports for investors around the world. For US investors, both platforms offer IRS Forms 8949 and Schedule D, as well as dedicated reports for tax filing software like TurboTax and TaxAct. Outside the US, both platforms offer specific reports for Canada, Australia, Sweden, and France.

But Koinly ever so slightly takes the lead with additional reports for the UK, Finland, Denmark, and Switzerland.

Outside these countries, both Koinly and Coinpanda offer a Complete Tax Report that can help international investors file with their tax office in most instances. Coinpanda offers an additional couple of reports for investors worldwide, including a highest balance report, transaction history CSV, and capital gains CSV - but Koinly once again jumps ahead with 15 detailed reports for investors globally, as well as the country-specific reports mentioned above.

Conclusion: Which is better?

Koinly and Coinpanda are comparable in many aspects, but Koinly edges into the lead in our humble opinion thanks to a more generous free plan, more affordable paid plans, and superior customer service. And while we might be biased, we'll keep working hard to keep our product that way.