{"id":1255,"date":"2026-02-09T18:59:46","date_gmt":"2026-02-09T18:59:46","guid":{"rendered":"https:\/\/tokenmetrics.mystagingwebsite.com\/?p=1255"},"modified":"2026-02-10T19:22:18","modified_gmt":"2026-02-10T19:22:18","slug":"what-is-koinly-and-how-does-it-work","status":"publish","type":"post","link":"https:\/\/tokenmetrics.com\/blog\/what-is-koinly-and-how-does-it-work\/","title":{"rendered":"What Is Koinly and How Does It Work?"},"content":{"rendered":"\n

The Complete Beginner\u2019s Guide<\/strong><\/p>\n\n\n\n

If you\u2019ve traded cryptocurrency, earned staking rewards, minted NFTs, or participated in DeFi protocols, you already know how messy the paperwork can get. Koinly<\/a> is a crypto tax software platform designed to take that complexity off your plate \u2014 automatically importing your transactions, calculating your capital gains and losses, and generating tax-ready reports you can hand straight to your accountant or upload to TurboTax.<\/p>\n\n\n\n

In this guide, we\u2019ll walk you through exactly what Koinly does, how it works under the hood, which platforms it supports, and how to get started in just a few minutes.<\/p>\n\n\n\n

What Is Koinly?<\/h2>\n\n\n\n

Koinly<\/a> is a web-based cryptocurrency tax calculator and portfolio tracker trusted by over 2 million users worldwide. It connects to your exchanges, wallets, and blockchain addresses, pulls in your complete transaction history, and applies the tax rules of your country to calculate what you owe \u2014 or what losses you can claim.<\/p>\n\n\n\n

Unlike spreadsheets or manual calculations, Koinly handles the heavy lifting: matching transfers between your own wallets, identifying taxable events, fetching historical market prices, and grouping micro-transactions from exchanges that split large orders into hundreds of smaller fills.<\/p>\n\n\n\n

How Does Koinly Work?<\/h2>\n\n\n\n

Koinly operates in three straightforward steps:<\/p>\n\n\n\n

Step 1 \u2014 Connect Your Accounts: <\/strong>Link your exchange accounts using read-only API keys or upload CSV files. For blockchain wallets like MetaMask, Phantom, or Ledger, simply add your public wallet address and Koinly imports your on-chain history automatically.<\/p>\n\n\n\n

Step 2 \u2014 Automatic Processing: <\/strong>Once your data is imported, Koinly fetches market prices for every transaction, matches transfers between your own wallets so they aren\u2019t double-counted, identifies taxable events (trades, disposals, income), and calculates your capital gains and income totals.<\/p>\n\n\n\n

Step 3 \u2014 Generate Reports: <\/strong>Head to the Tax Reports page to see your gains summary for any tax year. Download reports in formats compatible with TurboTax, TaxAct, IRS Form 8949, and international equivalents \u2014 available in CSV, Excel, and PDF.<\/p>\n\n\n\n

Which Exchanges and Wallets Does Koinly Support?<\/h2>\n\n\n\n

Koinly<\/a> integrates with over 800 exchanges, wallets, and blockchains. Major platforms like Coinbase, Kraken, Binance, Crypto.com, and eToro are supported alongside hardware wallets like Ledger and Trezor. For blockchain-native activity, Koinly reads directly from Ethereum, Solana, Bitcoin, Polygon, Avalanche, and dozens of other networks.<\/p>\n\n\n\n

Even if your exchange or wallet isn\u2019t natively supported, Koinly offers a custom wallet feature that lets you import data via a universal CSV format \u2014 so no transaction is left behind.<\/p>\n\n\n\n

Does Koinly Support DeFi, Staking, and NFTs?<\/h2>\n\n\n\n

Yes. Koinly has built dedicated support for the full spectrum of on-chain activity. Whether you\u2019re staking on Solana, providing liquidity on Curve, lending on Aave, or trading NFTs on OpenSea, Koinly can categorize and calculate the tax implications. It recognizes staking rewards as income, handles liquidity pool entries and exits, and tracks NFT purchases and sales with correct cost-basis calculations.<\/p>\n\n\n\n

What Counts as a \u201cTransaction\u201d in Koinly?<\/h2>\n\n\n\n

A transaction is any deposit, withdrawal, or trade imported into your account. However, Koinly is smart about consolidation. If an exchange splits a large order into 200 smaller fills, Koinly groups them into a single transaction. It also excludes spam tokens and the majority of small dust rewards, meaning your actual transaction count in Koinly is often significantly lower than on other platforms \u2014 saving you money on your plan.<\/p>\n\n\n\n

Which Countries Does Koinly Support?<\/h2>\n\n\n\n

Koinly<\/a> calculates taxes for over 20 countries, including the United States, United Kingdom, Canada, Australia, Germany, France, Sweden, Japan, and many more. Each country module applies the correct local tax methodology \u2014 such as the Adjusted Cost Basis (ACB) method for Canada or Share Pooling for the UK \u2014 so your reports are compliant from day one.<\/p>\n\n\n\n

Ready to simplify your crypto taxes?<\/strong><\/p>\n\n\n\n

Try Koinly for free today \u2014 no credit card required. Import your wallets, see your gains, and generate tax-ready reports in minutes.<\/p>\n\n\n\n

Frequently Asked Questions (FAQ)<\/h2>\n\n\n\n

Q: What is Koinly?<\/strong><\/p>\n\n\n\n

A: Koinly is a crypto tax software and portfolio tracker that automatically imports your cryptocurrency transactions, calculates capital gains and income, and generates tax-ready reports for over 20 countries.<\/p>\n\n\n\n

Q: How does Koinly work?<\/strong><\/p>\n\n\n\n

A: You connect your exchanges and wallets via API or CSV, Koinly processes your transactions by fetching market prices and matching transfers, and then you download your completed tax report.<\/p>\n\n\n\n

Q: Which exchanges does Koinly support?<\/strong><\/p>\n\n\n\n

A: Koinly supports over 800 integrations including Coinbase, Binance, Kraken, Crypto.com, Ledger, Trezor, MetaMask, and dozens of blockchains.<\/p>\n\n\n\n

Q: Does Koinly handle DeFi and NFTs?<\/strong><\/p>\n\n\n\n

A: Yes. Koinly supports staking, liquidity pools, lending, borrowing, and NFT transactions across multiple blockchains including Ethereum, Solana, and Polygon.<\/p>\n\n\n\n

Q: What counts as a transaction in Koinly?<\/strong><\/p>\n\n\n\n

A: Any deposit, withdrawal, or trade. Koinly consolidates grouped exchange fills and excludes spam and dust rewards, so your count is typically lower than on other platforms.<\/p>\n\n\n\n

Q: Which countries does Koinly calculate taxes for?<\/strong><\/p>\n\n\n\n

A: Over 20 countries including the US, UK, Canada, Australia, Germany, France, Japan, Sweden, and more \u2014 each using the locally compliant tax methodology.<\/p>\n\n\n\n

Q: Can I use Koinly if my exchange isn\u2019t supported?<\/strong><\/p>\n\n\n\n

A: Yes. Koinly offers a custom wallet import feature that accepts a universal CSV format, so you can import data from any source.<\/p>\n\n\n\n

<\/p>\n\n\n\n

DISCLAIMER<\/strong><\/p>\n\n\n\n

The information provided in this article is for general informational and educational purposes only. It does not constitute financial, tax, legal, or investment advice, nor is it intended as a recommendation or suggestion to buy, sell, trade, or use any particular product, service, or platform.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"New to Koinly? Learn what Koinly is, how it works, which exchanges and wallets it supports, and how to connect your accounts to generate crypto tax reports in minutes.","protected":false},"author":1,"featured_media":1256,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"csco_display_header_overlay":false,"csco_singular_sidebar":"","csco_page_header_type":"","csco_page_load_nextpost":"","csco_page_reading_time":"","csco_page_toc_navigation":"","csco_post_video_location":[],"csco_post_video_location_hash":"","csco_post_video_url":"","csco_post_video_bg_start_time":0,"csco_post_video_bg_end_time":0,"csco_post_video_bg_volume":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3,1],"tags":[98,100,99,96,97],"class_list":{"0":"post-1255","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-reviews","8":"category-crypto-taxes","9":"tag-how-does-koinly-work","10":"tag-koinly-crypto-tax-software","11":"tag-koinly-defi-nft-support","12":"tag-koinly-supported-exchanges","13":"tag-what-is-koinly","14":"cs-entry","15":"cs-video-wrap"},"jetpack_featured_media_url":"https:\/\/tokenmetrics.com\/blog\/wp-content\/uploads\/2026\/02\/Gemini_Generated_Image_rb29ywrb29ywrb29.png","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/tokenmetrics.com\/blog\/wp-json\/wp\/v2\/posts\/1255","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/tokenmetrics.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/tokenmetrics.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/tokenmetrics.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/tokenmetrics.com\/blog\/wp-json\/wp\/v2\/comments?post=1255"}],"version-history":[{"count":7,"href":"https:\/\/tokenmetrics.com\/blog\/wp-json\/wp\/v2\/posts\/1255\/revisions"}],"predecessor-version":[{"id":1269,"href":"https:\/\/tokenmetrics.com\/blog\/wp-json\/wp\/v2\/posts\/1255\/revisions\/1269"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/tokenmetrics.com\/blog\/wp-json\/wp\/v2\/media\/1256"}],"wp:attachment":[{"href":"https:\/\/tokenmetrics.com\/blog\/wp-json\/wp\/v2\/media?parent=1255"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tokenmetrics.com\/blog\/wp-json\/wp\/v2\/categories?post=1255"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tokenmetrics.com\/blog\/wp-json\/wp\/v2\/tags?post=1255"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}