Recap vs. Koinly

Which crypto tax app is better, Koinly or Recap?

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

Integrations

Your crypto tax tool needs to support all the exchanges, wallets, and blockchains you use so you can import your data to calculate easily. Recap is fairly limited in this regard, supporting a total of 30 integrations - with 25 exchange API integrations and 5 blockchain API integrations. Of course, users can create custom CSV files in the Recap format in order to import their data, but this is time-consuming and prone to human error.

Meanwhile, Koinly supports a total of 800 integrations, with more than 220 API blockchain integrations, and more than 415 exchanges - the vast majority of which are supported via API, and where they’re not, Koinly supports the CSV file exported from a given platform, with no manual tinkering needed. Here’s how easy it is on Koinly.

Bonus point: Koinly also empowers users with educational content, including more than 195 how-to YouTube videos, showing users exactly how to import their data correctly. Meanwhile, Recap offers 12 videos comparatively.

Portfolio tracking

Both Koinly and Recap function as free crypto portfolio trackers, but with Koinly you get a lot more, for free. Recap lets you track your portfolio on a basic level on your free plan, but lacks a lot of data, especially for individual holdings. As well as this, some features, like seeing ROI on assets and unrealized gains and losses, are restricted to paid plans only.

Koinly offers all this - and more - for free. You’ll only ever pay when you want to upgrade to download a tax report. As well as this, Koinly offers a free tax loss harvesting tool to help you make the most of your unrealized losses.

DeFi, NFTs, margin trading, and derivatives

Crypto tax gets complicated, especially for investors with more complicated transactions like DeFi or transactions that result in realized PnL. You need a crypto tax calculator that can handle all this, so you don’t spend hours reviewing your data.

Both Koinly and Recap offer strong support for all different kinds of transactions, and can automatically tag a large number of transactions, as well as offering integration with popular futures platforms like Binance Futures and Kraken Futures. But Koinly takes the lead by offering support for far more growing DeFi chains like Solana, Cardano, Avalanche, Cosmos, and many more, while Recap’s support for blockchains is limited to just Ethereum, BNB Chain, Polygon, Optimism, and Arbitrum.

Free plan

Both Recap and Koinly offer a free plan that offers excellent features including a preview of your tax liability, rich transaction data, and an NFT dashboard. But Koinly might just take the lead ever so slightly with a free tax loss harvesting tool that can help you optimize your tax liability ahead of the end of the financial year.

Paid plans

Koinly’s cheapest plan starts from £39 a year for 100 transactions, to £79 a year for 1,000 transactions, up to £149 a year for up to 10,000 transactions. Comparatively, Recap’s plans start from £99 a year for 5,000 transactions up to £179 a year for unlimited transactions.

Usability and features

Both Koinly and Recap offer a number of settings, filters, and features to make it easy to get through your data. Both offer transaction filters and tags so you can categorize and find transactions of a certain type easily. 

Both platforms also feature automatic error detection, which is incredibly helpful for making sure the data you’ve imported is accurate for your reports. But Koinly also offers links out to help documentation to resolve these errors, while Recap does not.

Finally, while the tax settings for Recap are suitable for UK users, there is a lack of flexibility in grey areas where HMRC is yet to clarify tax treatment. Koinly allows users to work with their accountants to decide how to tackle these types of transactions.

Customer support

Both Koinly and Recap have good Trustpilot reviews, with Koinly marginally ahead with a 4.7-star rating from 1,600+ reviews while Recap sites at 4.6 stars from 80+ reviews, with many Recap reviews noting the limitations for integrations being the main issue they faced when using the platform.

Both platforms offer email and live chat support, but Koinly also offers an expert review service, where a data expert will go through all your imported data to ensure it’s accurate and correct for your tax reports.

Reputation and security

Both Koinly and Recap take your data protection seriously. All data is encrypted and Koinly is ISO 27001 and SOC 2 certified.

As well as this, Koinly is teamed up with some of the leading names in both crypto and tax, including Binance, MetaMask, OKX, TaxScouts, and Crunch, while Recap benefits from partnerships with the likes of Kaiko and Hoptrail.

Supported countries 

For investors in the UK, both Koinly and Recap offer a number of reports, including a HMRC Capital Gains Summary, to make reporting your crypto simple with the tax office. 

However, for investors internationally, Recap only offers generic reports, while Koinly offers specialized reports for many countries including the US, Australia, Canada, and more, as well as 15 additional reports that can help users anywhere file.

Conclusion: Which is better?

Although we might be a little biased - with far more integrations, better international support, and better DeFi support, we think Koinly comes out ahead in a face-off between the two software - and we’ll keep working to keep our product as the market leader.