Koinly is a popular crypto tax website that enables users to easily and accurately calculate their cryptocurrency taxes. It is designed for both casual and professional traders, and provides a range of features to ensure that users can manage their tax liabilities in a hassle-free manner. In this article, we will discuss the various features of Koinly.io and how they can help you manage your cryptocurrency taxes.
- Multi-Exchange Support
One of the key features of Koinly is its support for multiple exchanges. It supports over 6,000 exchanges, including popular platforms like Coinbase, Binance, and Kraken. This means that users can easily import their transaction data from these exchanges, and Koinly.io will automatically calculate their tax liability based on the data.
- Automated Data Import
Koinly provides a convenient way to import transaction data from various exchanges, wallets, and blockchains. It has integrations with popular wallets like Exodus, Trezor, and Ledger, and supports blockchain integrations like Ethereum, Bitcoin, and Litecoin. Users can easily import data by connecting their wallets and exchanges to Koinly.io, and the platform will automatically fetch the data and calculate their tax liability.
- Accurate Tax Calculations
Koinly uses advanced algorithms and techniques to accurately calculate your cryptocurrency taxes. It considers various factors like the cost basis, capital gains, and losses, and applies the relevant tax laws to calculate the tax liability. It also provides a range of tax reports like capital gains report, income report, and transaction report, which can be used to file taxes easily.
- Portfolio Tracking
Koinly provides a powerful portfolio tracking tool that enables users to track their cryptocurrency investments in real-time. It provides a detailed overview of your holdings, including the current value, cost basis, and gains/losses. Users can also track their investment performance over time and get insights into their investment strategy.
- Customizable Tax Settings
Koinly provides a range of customizable tax settings that can be tailored to your specific tax situation. For example, users can set their tax year, tax rate, and capital gains method. They can also add custom transactions like mining income, airdrops, and ICOs. This ensures that the tax calculations are accurate and comply with the relevant tax laws.
- User-Friendly Interface
Koinly provides a user-friendly interface that is easy to navigate and use. The platform is designed to be intuitive and requires minimal technical knowledge. Users can import data, generate tax reports, and track their portfolio easily, all from a single dashboard.
- Data Security
Koinly takes data security seriously and provides a range of measures to ensure that user data is secure. It uses bank-grade security protocols like 2FA, SSL encryption, and HTTPS to protect user data. It also does not store any sensitive information like passwords or private keys, which ensures that user data is safe.
- Customer Support
Koinly provides excellent customer support, with a range of resources to help users get started and resolve any issues they may have. It has an extensive knowledge base, a help center, and a community forum where users can ask questions and get answers. It also provides email support and live chat support, ensuring that users can get help whenever they need it.