How to Use Koinly

What is Koinly

Using Koinly effectively takes 30-90 minutes for initial setup depending on how many exchanges and wallets you have. The process is: create account → connect each data source → import transactions → review and fix flagged items → purchase plan → generate report. This guide walks through each step in detail with practical tips to minimise manual work.

Koinly At a Glance

TypeCrypto Tax Software

Integrations850+ exchanges & wallets

Countries100+ (20+ localized)

Tax MethodsFIFO · LIFO · HIFO · ACB

Starting Price$49/tax year

Free TierYes — portfolio tracking

US Tax FormsForm 8949 · Schedule D

DeFi / NFTSupported

Staking / MiningAuto-categorized

CPA AccessRead-only sharing

Features

Everything You Need to File Crypto Taxes

From import to IRS-ready reports — Koinly handles the complexity of crypto tax automatically.

🔑

API Connection

Most exchanges connect via read-only API keys — Koinly never needs trading permissions.

📁

CSV Import

For exchanges without API support, download your transaction history CSV and upload to Koinly.

🔍

Auto-Categorization

Koinly automatically labels most transactions. Review orange-flagged ones for manual input.

🔄

Transfer Matching

Koinly identifies transfers between your own wallets and excludes them from tax calculations.

⚠️

Error Resolution

Missing price data, unmatched transfers, and unknown protocols appear in the Review section.

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Report Download

Once reviewed and paid, download your report as PDF and/or TurboTax-compatible file.

Pricing

Simple Per-Year Pricing

Koinly charges per tax year, not monthly. All plans include the same features — only transaction limits differ.

Newbie

$49/yr

Up to 100 transactions

All tax reports

All integrations

DeFi & NFT

CPA access

Hodler

$99/yr

Up to 1,000 transactions

All tax reports

All integrations

DeFi & NFT

CPA access

How to Use How to Use Koinly

Connect your exchanges and wallets, let Koinly calculate everything, then download your tax reports.

1

Create Account

Go to koinly.io and sign up with email or Google. No credit card needed.

2

Add Each Exchange

Go to Wallets → Add Wallet. Search for your exchange. Follow the instructions to create a read-only API key on your exchange and paste into Koinly.

3

Add Blockchain Wallets

For MetaMask, Phantom, hardware wallets — paste your public wallet address. Koinly reads all transaction history from the blockchain automatically.

4

Let Koinly Sync

After connecting each source, Koinly imports all historical transactions. This can take a few minutes for large accounts.

5

Review Flagged Transactions

Go to Review (orange banner) and work through unrecognised transactions. Most are unusual DeFi interactions or ambiguous transfers that need manual labelling.

6

Purchase Plan and Download

Click Generate Report, select the tax year, choose your plan, pay, and download your IRS Form 8949, HMRC report, or country-specific document.

FAQ

Koinly Questions Answered

How long does Koinly setup take?

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Initial setup takes 30-90 minutes for most users. Connecting exchanges via API is quick (5-10 minutes each). Reviewing flagged transactions takes the most time — typically 1-3 hours for heavy DeFi users, less for simple buy-and-hold portfolios.

Is it safe to give Koinly my API keys?

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Yes — with an important caveat. Always create READ-ONLY API keys with no withdrawal or trading permissions. Koinly only needs to read your transaction history. Never give any software API keys with withdrawal access.

What if Koinly shows the wrong tax amount?

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Wrong amounts are usually caused by incomplete data (missing transactions or wallets). Add all your wallets and exchanges, ensure all historical data is imported, and review flagged items. Inaccurate input data will always produce inaccurate output.

Can I import transactions manually if my exchange isn\'t supported?

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Yes. Koinly supports CSV import for all transactions and has a manual transaction entry interface. For exchanges not in Koinly\'s directory, download your transaction history from the exchange and upload the CSV file.

How do I share Koinly with my accountant?

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In Koinly Settings, find the CPA Access section and enter your accountant\'s email. They receive an invitation to view your account with read-only access — they see all transactions, reports, and calculations but cannot modify anything.

Reviews

What Users Say About Koinly

Setup Guide Follower

★★★★★

"Followed this guide for my first Koinly setup. 4 exchanges and 2 MetaMask wallets connected in about 45 minutes. Had about 30 flagged transactions to review manually. Total setup to report download: 2.5 hours. Well worth it."

CPA Referral

★★★★★

"Sent this guide to three clients who were new to Koinly. All three completed setup without calling me for help. The step-by-step breakdown of API key creation was the most useful part for them."

DeFi User

★★★★☆

"The flagged transaction review step is where reality diverges from expectation. Had 180 flagged items from DeFi — took most of a Saturday to work through. Worth doing right rather than rushing."

How to Use Koinly — Complete Setup Guide

Koinly Plans