Koinly is a cryptocurrency tax software that provides an easy and efficient way to calculate taxes on cryptocurrency transactions. The software supports over 6,000 cryptocurrencies and can import data from over 300 exchanges and wallets. It automatically calculates capital gains and losses, and generates tax reports in various formats that can be used for tax filing.
Features:
Supports over 6,000 cryptocurrencies
Imports data from over 300 exchanges and wallets
Automatically calculates capital gains and losses
Generates tax reports in various formats
Provides support for multiple tax calculation methods, including FIFO, LIFO, and HIFO
Offers support for tax calculations in multiple countries, including the US, UK, Canada, Australia, and more
Provides an intuitive user interface that is easy to use and navigate
Offers a comprehensive knowledge base and customer support to assist users with any issues they may encounter
Pros:
Supports a wide range of cryptocurrencies and exchanges
Offers a user-friendly interface and easy-to-use tax calculation tools
Provides comprehensive tax reports in various formats
Offers support for multiple tax calculation methods and countries
Provides excellent customer support and a comprehensive knowledge base
Offers a free plan for up to 10 transactions and paid plans with affordable pricing options for more transactions
Cons:
The software may be overwhelming for beginners or users with limited experience in cryptocurrency trading or taxation
The free plan has a limit of only 10 transactions, which may not be sufficient for some users
Some users have reported issues with importing data from certain exchanges or wallets
Conclusion:
Overall, Koinly is an excellent cryptocurrency tax software that provides a comprehensive and efficient way to calculate taxes on cryptocurrency transactions. With support for a wide range of cryptocurrencies and exchanges, multiple tax calculation methods and countries, and a user-friendly interface, Koinly is a great choice for individuals or businesses looking for an easy way to manage their cryptocurrency tax obligations. While the software may be overwhelming for beginners or users with limited experience, the comprehensive knowledge base and customer support provided by Koinly can help users navigate any issues they may encounter.