This article will give you a Koinly review. At first, we should see what koinly is. Then, we will move on to the next parts to see how koinly works. We will also compare Koinly vs Cointracker. This will help you figure out which one is the best for you.
Most countries and governments require crypto taxes. Therefore, crypto investors and traders have to pay taxes for their crypto gains. This can be a frustrating job sometimes. For example, it’s easy for you to calculate your bitcoin profit for this year. But it won’t be easy when you have 25 different coins.
You can also read: How to buy HUH token?
Then, calculating taxes can be really hard. Especially when you have numerous various tokens in your wallet. Then, we all need a tool to assist us to calculate our crypto taxes. That is the reason we are introducing Koinly in this article.
In this article, you can read our Koinly review. You will learn about Koinly features and Koinly vs Cointracker, to learn about other tax software. At the end of the article, you will find a Koinly promo code website. A koinly promo code helps you purchase a koinly plan that is way cheaper than it should be.
Then, you can decide whether or not to use Koinly. Now, let’s begin to learn about Koinly.
What is Koinly?
Koinly is a crypto tax software based in London. They claim to help calculate and report over $250 million dollars tax in funds. The Koinly company was founded in 2018. Then, we can assume that Koinly crypto tax software is probably legit and safe to use.
There are numerous cryptocurrency tax software companies. Although, they have one really big issue in common. Crypto investors and traders need some features to work better, developers didn’t add those features though.
This is probably because they didn’t even think that crypto users would need them. Then, the platforms don’t have the features a crypto investor or trader would like to have. Koinly developers, on the other hand, were crypto investors and traders themselves. Therefore, Koinly does have the features you might need as a crypto trader or investor.
Should I use Koinly?
Koinly is really easy to use. All you need to do is to import your cryptos and Koinly will do the rest. It will track your crypto transactions for you. Then, you wouldn’t have such a hard time calculating your crypto taxes.
Therefore, you should probably use Koinly to complete your crypto tax report. Koinly connects to your crypto wallet and crypto exchanges. Once you sync Koinly with your crypto exchange and wallet, it will keep track of your cryptocurrencies automatically. Then, you would feel at ease and comfort when it’s time to report your crypto taxes.
Now you may wonder if Koinly does support your exchange or wallet. Therefore, in the next section, we will explore the crypto exchanges and wallets that can sync with Koinly.
What networks does Koinly support?
Koinly connects and syncs with over 350 crypto exchanges and wallets. This means that an extremely large variety of users are able to use the Koinly crypto tax software. If your crypto exchange supports Koinly, you can connect and sync them and let Koinly automatically keep track of your crypto taxes.
The crypto tax software, Koinly, supports all the most used and leading crypto exchanges. Koinly supports Binance, Coinbase, Kucoin, Crypto.com, Gate.io, FTX, Gemini, Kraken….
Koinly also supports more than 50 various crypto wallets. Then, there is a really high chance that Koinly can sync with your crypto wallet. Koinly supports Ledger, Trezor, Nexo, Exodus, Blockfi, Celsius, and Trust wallet….
Koinly vs Cointracker
In this section of the Koinly review, we will compare Koinly to its alternative. Or in other words, Koinly vs Cointracker. The thing you should note about Koinly vs Cointracker is the number of transactions.
In Cointracker, the free plan comes with up to 25 transactions. As in Koinly, you have a 10,000 transaction limit. Therefore, you can see how Koinly is better than most alternatives (if not all).
Is Koinly legitimate?
Yes. Koinly has been around since 2018. There have been some awesome koinly reviews around the web. That shows that the Koinly crypto tax software company is legit. But, be sure to do your own research.
Now, let’s check how is the Koinly relationship with the IRS.
Does Koinly report to IRS?
Yes. Koinly can help you with your crypto tax reports. The free plan has up to 10,000 transactions for you. It also supports Margin and Futures trading as well. Then, you should not worry about your crypto taxes anymore.
How much is Koinly?
Koinly offers some great features with relatively cheap plans. Koinly plans start from 49 dollars a year. But if you want to, you can also use a Koinly promo code to purchase a plan cheaper.
There is also Koinly promo code sites that you can use. Visit here, to find your koinly promo code. This will help you purchase a koinly package cheaper than it is.