Koinly

Frequently Asked Questions about Koinly

Who are Koinly?

Koinly is a cryptocurrency tax reporting and portfolio tracking software that helps users manage their cryptocurrency transactions and calculate their tax obligations. Founded in 2018, Koinly serves both individual investors and businesses worldwide.

What are Koinlys products?

Koinly offers a range of products including cryptocurrency tax calculators, portfolio trackers, and reporting tools that are designed to simplify the process of tracking cryptocurrency gains and losses for tax purposes.

What services do Koinly offer?

Koinly provides services such as automated tax reports, real-time portfolio tracking, and support for various cryptocurrencies and exchanges. Users can also access detailed tax reports tailored to different jurisdictions.

What type of companies do Koinlys products suit?

Koinlys products are suitable for individual cryptocurrency investors, traders, accountants, and businesses dealing with cryptocurrency transactions. It caters to users who need to comply with tax regulations regarding cryptocurrencies.

How much does Koinlys product cost?

Koinly offers various pricing plans based on the number of transactions and features required. Pricing starts from a free tier for basic use and can go up to a subscription model for more comprehensive services, typically ranging from £39 to £179 per year.

Does Koinly offer a free trial?

Yes, Koinly provides a free trial which allows users to create an account and access basic features to evaluate the platform before committing to a paid plan.

What discounts does Koinly offer on their products?

Koinly occasionally offers discounts during promotional periods or for annual subscriptions. Users can check the website for any current offers or discount codes.

Are there any hidden fees or additional costs with Koinly?

Koinly does not have hidden fees; however, users should be aware that additional costs may arise if they exceed the transaction limits of their chosen plan or if they require specific reports that are not included in their subscription.

Who uses Koinlys products?

Koinlys products are used by individual cryptocurrency investors, traders, tax accountants, and businesses involved in cryptocurrency transactions seeking to streamline their tax reporting processes.

What are the main features of Koinlys products/services?

Main features of Koinly include automated transaction import, comprehensive tax reports, support for multiple cryptocurrencies and exchanges, real-time portfolio tracking, and user-friendly dashboards for monitoring investments.

How does Koinly compare to its competitors?

Koinly is known for its user-friendly interface and comprehensive tax reporting capabilities. Compared to competitors, it offers a wide range of supported exchanges and cryptocurrencies, competitive pricing, and robust reporting features, making it a preferred choice for many users.

Is Koinlys platform easy to use?

Yes, Koinlys platform is designed to be user-friendly, with an intuitive interface that allows users to easily navigate through their cryptocurrency transactions and generate tax reports without requiring extensive technical knowledge.

How easy is it to set up Koinlys product or service?

Setting up Koinly is straightforward. Users can create an account, import their cryptocurrency transaction data from exchanges or wallets, and start generating tax reports within a few minutes.

Is Koinly reliable?

Koinly is generally regarded as a reliable platform, with a strong track record of providing accurate tax reporting and portfolio tracking services. User reviews often highlight the consistency and accuracy of its calculations.

Does Koinly offer customer support?

Yes, Koinly offers customer support through email and a help centre that includes FAQs, guides, and tutorials to assist users with common issues and questions.

How secure is Koinly’s platform?

Koinly employs industry-standard security measures to protect user data, including encryption and secure data storage practices. Users are encouraged to use strong passwords and enable two-factor authentication for added security.

Does Koinly integrate with other tools or platforms?

Koinly integrates with various cryptocurrency exchanges and wallets, allowing users to import transaction data automatically. It also supports exporting tax reports to formats compatible with accounting software.

Can I use Koinly on mobile devices?

Koinly does not currently have a dedicated mobile app, but the website is mobile-responsive, allowing users to access their accounts and manage their portfolios from mobile devices through a web browser.

What do users say about Koinly?

User reviews for Koinly are generally positive, with many users appreciating its ease of use, comprehensive tax reporting features, and responsive customer support. Some users have noted that the pricing can be a consideration for those with many transactions.

What are the pros and cons of Koinly?

Pros: User-friendly interface, comprehensive tax reporting, support for numerous exchanges and cryptocurrencies, responsive customer support.
Cons: Pricing may be high for users with a large number of transactions, and there is no dedicated mobile app.

How can I purchase Koinly’s services?

Users can purchase Koinly’s services directly from their website by selecting a pricing plan that suits their needs and completing the payment process online.

What is the cancellation or refund policy for Koinly?

Koinly offers a 30-day money-back guarantee for its paid plans. Users can request a refund within 30 days of purchase if they are not satisfied with the service.

What are the common use cases for Koinly?

Common use cases for Koinly include calculating capital gains tax on cryptocurrency investments, tracking portfolio performance, generating tax reports for filing, and simplifying tax compliance for businesses dealing with cryptocurrency.

Why choose Koinly over other options?

Koinly is often chosen for its ease of use, extensive integration options, and comprehensive tax reporting features, which set it apart from many competitors in the cryptocurrency tax software market.

How easy is it to set up Koinly?

Setting up Koinly is simple and quick. Users can sign up, import their transaction data, and generate tax reports with minimal effort, making it accessible for users with varying levels of technical expertise.

Does Koinly offer training or tutorials?

Koinly provides a range of resources, including tutorials, guides, and a help centre, to assist users in navigating the platform and making the most of its features.

What languages does Koinly support?

Koinly supports multiple languages, making it accessible to a global audience. Users can choose their preferred language on the platform to enhance their experience.

What problems does Koinly solve?

Koinly helps users simplify the complex process of cryptocurrency tax reporting and portfolio management, ensuring compliance with tax regulations and providing clarity on investment performance.

Is Koinly worth the investment?

For individuals and businesses involved in cryptocurrency transactions, Koinly can be a valuable investment due to its ability to save time, reduce errors in tax reporting, and ensure compliance with tax laws, making it worth considering for those needing such services.