Koinly - Crypto Tax 9.0

Review of Koinly: An effectively designed platform for crypto tax management

• Functionality and Scope: Koinly offers comprehensive support for tracking and reporting a wide range of cryptocurrency activities, including trading, staking, DeFi transactions, and NFTs. It effectively consolidates transaction data from over 1,000 wallets, exchanges, and blockchains, facilitating a broad and integrated overview.
• User Interface and Experience: The platform features a clean and intuitive interface that caters to both beginners and experienced users. Its automated transaction import and real-time tracking streamline the workflow, reducing manual effort and potential errors.
• Reporting Capabilities: Koinly generates detailed tax reports aligned with IRS requirements, including Form 8949, Schedule D, and income summaries. Its automatic calculations for cost basis, gains, losses, and income help ensure accuracy and compliance.
• Security and Privacy: The software emphasizes privacy and security, maintaining user data integrity while providing peace of mind during sensitive financial reporting.
• Additional Features: The platform supports complex DeFi activities and provides insightful tax analytics to assist users in optimizing their tax obligations. Its automated approach aims to eliminate the need for spreadsheets or manual calculations.
• Overall Impression: Koinly appears to be a reliable tool suitable for a diverse range of crypto investors—from casual traders to active managers—primarily focusing on simplifying the tax season process with real-time data synchronization and clear reporting features.