I’ve been doing my own crypto taxes since 2016, and let me tell you—it was a nightmare before tools like Koinly and CoinTracker came along. Manually tracking hundreds of transactions across wallets and exchanges? Calculating cost basis for that random airdrop from 2018? No thanks.
After testing both platforms for multiple tax seasons (and dealing with IRS audits—yes, really), I’ve got a brutally honest breakdown of which tool works best for different traders.
Quick Verdict: Who Wins?
If you need simple, fast tax reports and mostly stick to major exchanges, CoinTracker is easier.
If you’re a DeFi power user or need detailed portfolio tracking, Koinly is the clear winner.
But let’s dig into the details—because your crypto habits drastically change which tool is right for you.
1. Pricing: Which One Actually Saves You Money?
Both charge based on transaction volume, but their models differ:
Koinly Pricing
- Free plan: Up to 10,000 transactions (but no tax reports)
- Tax reports start at $99/year (up to 100 transactions)
- $179/year for 1,000 transactions (best for active traders)
- Custom plans for whales (10K+ transactions)
CoinTracker Pricing
- Free plan: Up to 25 transactions (useless for most)
- $99/year for 100 transactions
- $199/year for 1,000 transactions
- $399/year for 10,000 transactions
My Take:
- Koinly’s free plan is better for tracking (even without reports).
- CoinTracker gets expensive fast if you’re a high-volume trader.
2. Exchange & Wallet Support: Which Handles DeFi Better?
Koinly’s Strengths
✅ Best for DeFi (Uniswap, Aave, Curve, etc.)
✅ Supports 700+ integrations (including obscure wallets)
✅ Better at detecting missing cost basis
CoinTracker’s Strengths
✅ Smoother for Coinbase & Binance users (direct API sync)
✅ Cleaner UI for beginners
❌ Struggles with complex DeFi transactions
Personal Experience:
- Koinly saved me hours fixing messed-up DeFi LP transactions.
- CoinTracker’s auto-sync failed with my MetaMask wallet.
3. Tax Report Accuracy: Which One Won’t Get You Audited?
Both generate IRS-compliant forms (8949, Schedule D, etc.), but:
- Koinly lets you manually adjust cost basis (critical for airdrops/staking).
- CoinTracker has TurboTax integration (nice, but not a game-changer).
Pro Tip: Always cross-check a few transactions manually—I’ve caught small errors in both.
4. Portfolio Tracking & Extra Features
Koinly Wins Here
- Real-time profit/loss tracking
- Capital gains forecasts (helps with tax planning)
- More customizable reports
CoinTracker’s Bonus
- Mobile app (Koinly doesn’t have one)
- Simpler for passive investors
Final Recommendation: Who Should Use Which?
Pick Koinly If You:
- Trade DeFi, NFTs, or use multiple wallets
- Need advanced tax planning tools
- Want better cost-basis adjustments
Pick CoinTracker If You:
- Mostly use Coinbase/Binance/Gemini
- Prefer a simpler, mobile-friendly tool
- Don’t need deep DeFi support
My Personal Workflow (For Reference)
- Sync all wallets/exchanges to Koinly (I use API + CSV uploads).
- Review “unmatched” transactions (takes 10–20 mins).
- Export IRS forms + double-check totals.
Takes me under 2 hours/year now—compared to days of manual work before.
Still Unsure? Try Both (For Free)
- Koinly Free Plan (track up to 10K transactions)
- CoinTracker Free Plan (25 transactions)
Question for You: Which crypto tax headache drives you craziest? Missing cost basis? DeFi LP nightmares? Let me know—I’ve probably fixed it!
