In this guide, we’ll break down the best crypto tax software, Koinly vs. CoinTracker vs. CoinLedger, based on a range of different characteristics like user friendliness, pricing, customer support, and much more!
How do I choose a crypto tax software?
The best crypto tax software for you may vary depending on your specific needs.
In this article, we’ll break down the best crypto tax platforms based on your unique situation. In each section, we’ll break down the features of each platform and tell you which platform is a ‘Winner’ in categories like ‘User Interface’ and ‘Customer Support’.
We admit we’re a bit biased. However, we made an effort to give all platforms due credit to give you a better understanding of which platform is the best crypto tax software for you.
What’s the best crypto tax software—Koinly, CoinTracker, or CoinLedger?
When it comes to user-friendliness, customer support, and affordable prices, CoinLedger stands ahead of the pack.
As a crypto tax software built by crypto enthusiasts just like you, CoinLedger was built from the ground up with one goal in mind: taking the stress out of crypto tax reporting.
But don’t take our word for it—try the platform yourself and create a free CoinLedger account today.
User Interface & Ease of Use
Winner: CoinLedger
Because tax season can be stressful, it’s important to choose a platform that makes it easy for you to file your taxes. That means the platform should be simple to navigate and allow you to classify your transactions (staking, trading, mining, etc.) so that you can accurately calculate your tax liability.
CoinLedger: CoinLedger was built by crypto investors, for crypto investors. The platform is designed to be easy to use — you can import your transactions, classify your transactions, and generate a complete tax report. For most investors, the process just takes minutes!
Koinly: While Koinly has a user-friendly interface, some customers have complained that the platform mislabels transactions and makes it hard to manually re-classify them for tax purposes.
CoinTracker: CoinTracker’s customers have expressed frustration with the platform. Third-party reviews complain of bugs and difficulty classifying different transaction types.
CoinLedger is the clear winner when it comes to user-friendliness. For years, CoinLedger has been considered the #1 choice for investors looking to take the stress out of tax season.
Features and Services
Winner: CoinLedger
Let’s walk through some of the features and services that each crypto tax platform offers.
CoinLedger: Tax-Loss Harvesting Report, DeFi & NFT support, FIFO, LIFO, HIFO, Email and Live Chat support, Error reconciliation, CSV and wallet import, Expert Review
Koinly: DeFi & NFT support, FIFO, LIFO, HIFO, Email and Live Chat support, Error reconciliation, CSV and wallet import
CoinTracker: DeFi & NFT support (for higher pricing tiers only), FIFO, LIFO, HIFO, Tax summary by wallet, CSV and wallet import
CoinLedger offers the widest breadth of features and services to help you simplify the tax reporting process. With Expert Review, you can get a CoinLedger team member to look over your transaction history manually and identify inconsistencies! Plus, the Tax-Loss Harvesting report can help you identify your biggest tax-saving opportunities.
Customer Reviews
Winner: CoinLedger, Koinly
Customer reviews can tell us how customers really feel about each platform — so let’s take a look at what customers are saying about each crypto tax software on Trustpilot.
CoinLedger: Currently rated 4.8 stars on Trustpilot.
Koinly: Currently rated 4.8 stars.
CoinTracker: Currently rated 3.1 stars.
Currently, CoinLedger and Koinly have the highest ratings on Trustpilot. CoinTracker lags behind, with customers complaining about issues with customer service.
Blockchain Integrations
Winner: CoinLedger, Koinly (while Koinly has more integrations, CoinLedger accounts for on-chain fees to help you avoid paying too much in taxes)
CoinLedger: Integrates with Bitcoin, Ethereum, Binance Smart Chain, Avalanche, Solana, Cardano, and more!
Koinly: Koinly has integrations with dozens of blockchains — including Bitcoin, Ethereum, Binance Smart Chain, and much more!
CoinTracker: Integrates with Bitcoin, Ethereum, Binance Smart Chain, Avalanche, Solana, Cardano, and more!
Of the three platforms, Koinly has the most custom blockchain integrations. However, CoinLedger is the best platform when it comes to pulling in relevant on-chain data including gas fees and protocol fees. Koinly and CoinTracker have trouble with this — which can potentially leave you with a larger tax bill than necessary.
Exchange Integrations
Winner: Three-way tie!
Koinly, CoinTracker, and CoinLedger all integrate with hundreds of exchanges — from big names like Coinbase to lesser-known exchanges. Each platform allows you to automatically import your transactions through an API connection.
Supported Countries
Winner: Koinly
Koinly: Koinly supports more than 30 countries, including the US, Australia, and Canada.
CoinLedger: CoinLedger supports 14 countries, including the US, Australia, and Canada.
CoinTracker: CoinTracker offers full support for 5 countries, including the US, Australia, and Canada.
Because it supports the most countries, Koinly gets the win in this section.
Pricing
Winner: CoinLedger, Koinly
Let’s break down the pricing tiers for each crypto tax platform.
CoinLedger: Free to track your portfolio and view net gains & losses, $49 for 0-100 transactions, $99 for 101-1,000 transactions, $199 for 1,001-3,000 transactions, and $199+ for more than 3,000 transactions
Koinly: Free to track your portfolio, $49 for 0-100 transactions, $99 for 101 - 999 transactions, $179 for more than 1,001-3,000 transactions, and $279+ for more than 3,000 transactions.
CoinTracker: Free up to 25 transactions, $59 for 26 - 100 transactions, $99 for 101 -200 transactions, $199 for 201-1,000 transactions, $299+ for more than 1,000 transactions.
CoinLedger and Koinly offer the most affordable plans for cryptocurrency investors. However, each platform offers a free plan so you can try each one out for yourself!
Tax Software Integrations
Winner: CoinLedger
If you’re filing your crypto taxes by yourself, you should look for a platform that can easily import your transactions to your tax platform of choice.
CoinLedger: TurboTax, TaxAct, Taxslayer, H&R Block
Koinly: TurboTax, TaxAct
CoinTracker: TurboTax, TaxAct, H&R Block
CoinLedger is the best platform for importing your transactions to your tax software of choice.
Customer Support
Winner: CoinLedger
Tax reporting can be a complicated process — so it’s important to find a platform that offers customer support so that you can get the help you need whenever you feel stuck or have a question.
CoinLedger: Customer support available for all customers via email and live chat.
Koinly: Customer support available for all customers via email and live chat.
CoinTracker: Customer support available only for customers paying for higher price tiers.
Koinly has only recently expanded its support capabilities due to pressure from customers. Because of this, we gave CoinLedger the win — the platform has offered support to all customers since 2018 — which means the CoinLedger support team has years of experience helping customers through a range of issues.
Help Center
Winner: CoinLedger
Help Center articles are essential for helping you figure out how to use your crypto tax software — including how to navigate the dashboard, import your transactions, and download your tax report.
CoinLedger: CoinLedger has more than 200 articles in its Help Center.
Koinly: Koinly has just over 100 articles in its Help Center.
CoinTracker: CoinTracker has just over 100 articles in its Help Center directly related to crypto taxes and portfolio tracking.
CoinLedger offers the most Help Center resources to help customers report their taxes.
Safety & Security
Winner: Three-way tie
It’s important to choose a platform that keeps your transaction data safe.
All three platforms take steps to protect your data and do not ask for your private keys — which means the platforms don’t have the ability to access your cryptocurrency.
CoinLedger: CoinLedger takes multiple steps to protect customer data. CoinLedger enforces a password complexity standard and all credentials are hashed using a PBKDF2 function with HMAC-SHA256, 128-bit salt, 256-bit subkey, 10000 iterations. In addition, CoinLedger’s servers are on a proprietary virtual private cloud with network access lists that prevent unauthorized requests and potential hacks.
Koinly: Koinly uses encryption, third-party security tools, and two-factor authentication to keep your data safe.
CoinTracker: CoinTracker uses encryption, third-party security audits, and two-factor authentication to keep your data safe.
In conclusion
Still can’t choose between Koinly, CoinTracker, and CoinLedger? We encourage you to try CoinLedger to see for yourself why the platform is trusted by more than 400,000 investors. Getting started is completely free — there’s no need to enter your credit card details until you pay for a tax report!
Get started with CoinLedger today.
