Koinly review: cheapest entry tier and broadest Australian accountant familiarity
Koinly is the cheapest entry-tier crypto tax software in the AU market with the broadest Australian accountant brand recognition. 800+ integrations covering every major Australian exchange and wallet, AU tax rules including the 50 percent CGT discount handled correctly, ATO myTax report built in, pricing from AUD 64 per year. Used by over 1 million investors globally. Trustpilot 4.6 on 2,252 reviews. Norwegian-headquartered (founded 2018) with AU rules added as a regional configuration. Two structural limitations vs Australian-built alternatives: less deep DeFi protocol coverage than Summ (200+ vs 1,500+), less ATO-specific reporting than Syla. Best for: typical retail investors who weight cheap entry pricing and accountant familiarity over DeFi depth or Australian-headquartered software. Less optimal for: heavy DeFi users (Summ wins), or AU-only spot users on a budget (Syla is cheaper at AUD 53 effective with discount). Note: Koinly disclosed a third-party data exposure at analytics provider Mixpanel in December 2025 - email addresses only, no passwords or transaction data.
About Koinly
Koinly is a crypto tax software platform founded in 2018 and headquartered in London, with development and operations based partly in Norway. Australian users get an Australia-specific product with ATO rules hardcoded, the 50 percent CGT discount applied automatically, myTax report output, and integration support for every major AUSTRAC-registered Australian exchange.
Scale is genuine. Koinly has processed tax reports for more than 1 million users globally. Trustpilot shows 4.6 out of 5 on 2,252 reviews at the Australian domain.
Corporate facts worth knowing
Koinly is operated by Koinly AS and its UK group subsidiaries. The company holds SOC 2 Type II and ISO 27001 certifications. Data is encrypted end-to-end. Koinly is GDPR compliant.
Koinly is not AUSTRAC registered because it is not a financial institution or exchange. It is a software service that reads your transaction data and produces tax reports.
Get started with Koinly
AUD 64 to 239 per year tiered by transaction count. 800+ integrations. ATO myTax report built in.
Get started with KoinlyWho Koinly is for
First, retail investors with 2 to 5 exchange accounts. If your crypto activity sits across Swyftx, CoinSpot, maybe Binance Australia, a hardware wallet, and one or two airdrops, Koinly's 800+ integrations mean everything imports cleanly.
Second, staking and yield earners. Australian tax rules treat staking rewards as ordinary income at AUD value on receipt, then CGT on disposal. Koinly automates the two-stage treatment correctly.
Third, investors using multiple cost basis methods. ATO permits FIFO, LIFO, or specific identification. Koinly supports all three and can re-run calculations to show which minimises tax legally.
Fourth, SMSF trustees with crypto exposure. Koinly handles the SMSF one-third CGT discount correctly and produces reports compatible with what most SMSF auditors expect.
Australian pricing tiers
| Plan | Transactions/year | AUD price | Who it's for |
|---|---|---|---|
| Free | 10,000 (preview) | $0 | Portfolio tracking only, no report. |
| Newbie | 100 | ~AUD 64/yr | Light retail investors. |
| Hodler | 1,000 | ~AUD 103/yr | Active retail, some trading, staking. |
| Trader | 3,000 | ~AUD 165/yr | Active traders, moderate volume. |
| Pro | 10,000+ | ~AUD 239/yr | High-volume, DeFi-heavy, some SMSFs. |
Koinly prices in USD with AUD conversion at checkout. Check koinly.io/au for current pricing.
How to pick the right tier
Most new users overestimate their transaction count. A year of weekly DCA on Swyftx plus a handful of rebalances is 50 to 80 transactions, comfortably within Newbie. Once you add staking, LP activity, or multiple exchanges, count scales rapidly. Import on the free plan first, see the transaction count, then upgrade.
Exchange and wallet integrations
Koinly's integration breadth is the single biggest reason it ranks first in Australia. More than 800 exchanges, wallets, and blockchains are supported.
Australian exchanges with API integration
Swyftx, CoinSpot, Independent Reserve, CoinJar, Digital Surge, Binance Australia, Coinbase Australia, Crypto.com, Kraken, Cointree. Paste read-only API keys and Koinly automatically imports your full transaction history.
Wallet integrations
Every major self-custody wallet: Ledger, Trezor, MetaMask, Phantom, Trust Wallet, plus direct address-based import for any Bitcoin, Ethereum, Solana, Cardano, or Avalanche wallet.
Where integrations get tricky
Some newer Layer 1 chains may have limited coverage at first. Bridges can double-count transactions if not configured carefully. Koinly flags suspected issues for manual review rather than silently failing.
ATO-specific features
50 percent CGT discount applied automatically. For assets held longer than 12 months by individuals and trusts.
SMSF one-third discount for long-term assets. Koinly handles this correctly when you configure the account as SMSF.
FIFO, LIFO, and specific identification cost basis. Koinly supports all three methods and can show the tax outcome under each.
Personal use asset exemption flagging. For small purchases potentially qualifying as personal use assets, Koinly flags candidates for review.
ATO myTax report format. Provides exact capital gains figures you enter into myTax lodgement screens.
Investor vs trader treatment. Default is investor (CGT). For traders, the tool can re-run on a business income basis. See our investor vs trader framework.
DeFi and advanced transaction coverage
What Koinly handles well: liquidity pools on major AMMs (Uniswap, Sushiswap, Curve), lending and borrowing (Aave, Compound), staking on major PoS chains, yield farming rewards as ordinary income plus CGT on disposal, CEX staking products, wrapping between major wrapped assets.
Where Koinly is adequate but not perfect: complex yield farm strategies with multiple compounding loops, very new DeFi protocols, NFT minting and royalty flows, some cross-chain bridges. Koinly imports the transactions but may require manual classification.
Where heavy DeFi users hit limits: if you are running dozens of LP positions across many protocols with thousands of transactions, Summ is purpose-built for this profile and is worth the premium.
The actual workflow
End-to-end, preparing an Australian tax return on Koinly for a typical retail portfolio takes about 30 minutes of active work.
Step 1: Add integrations. Generate read-only API keys in your exchange account and paste them into Koinly. Koinly pulls the full history automatically.
Step 2: Review flagged transactions. Koinly highlights transactions it has classified with uncertainty. Go through and approve or reclassify.
Step 3: Set cost basis method and confirm account type. FIFO, LIFO, or specific ID. Individual or SMSF.
Step 4: Generate reports. Download the myTax report and detailed capital gains report.
Step 5: Lodge or forward to accountant. Enter myTax figures into ATO lodgement, or send detailed report to your tax agent.
Security, privacy, and the Mixpanel exposure
Core platform security
Koinly holds SOC 2 Type II and ISO 27001 certifications. Both are externally audited and annually renewed. Data is encrypted in transit and at rest. No private keys, no exchange login credentials, no fund-transferring API keys are stored. Koinly reads data through read-only API keys.
The December 2025 Mixpanel exposure
In December 2025, Koinly disclosed that customer email addresses may have been exposed through a third-party breach at Mixpanel, an analytics service provider. The exposure was limited to email addresses only. No passwords, transaction data, or financial information were involved. Koinly notified affected users, published a disclosure statement, and terminated the Mixpanel integration.
Context: Mixpanel is widely used as analytics infrastructure by many SaaS products. The breach affected multiple companies, not just Koinly. Koinly's response (prompt disclosure, vendor termination) is appropriate incident handling.
Practical impact: if your email was in the affected set, you may see increased phishing attempts. Standard mitigations: never click unexpected email links claiming to be from Koinly, navigate directly to koinly.io, use strong unique password, enable 2FA.
My overall read: this is an analytics vendor incident rather than a Koinly platform compromise. It does not change the fundamental security assessment but pulled the Security and Privacy score from 4.7 to 4.5.
Koinly sound like the right fit?
Get started with KoinlyKoinly ratings breakdown
Koinly vs Summ vs Syla
| Category | Koinly | Summ | Syla |
|---|---|---|---|
| Origin | London / Norway | Sydney, Australia | Australia |
| Integrations | 800+ | 3,000+ | 500+ |
| DeFi coverage | Good | Excellent | Good |
| ATO-specific features | Strong | Strong | Strongest |
| AUD pricing | $64-239/yr | $99-299/yr | $59-249/yr |
| AU support hours | US/EU primary | Australian hours | Australian hours |
| myTax report | Yes | Yes | Yes |
| SMSF support | Yes | Yes | Yes |
Pick Koinly if: you want the broadest default support and a mid-price tier. Most widely used, so accountants already know the report format.
Pick Summ if: DeFi-heavy, or want Australian domicile for your tax software vendor.
Pick Syla if: you want the deepest Australian ATO feature set and local focus.
For most retail Australian investors, any of the three will produce an accurate tax report. Pick the one whose pricing matches your transaction count and move on.
Final verdict
Koinly is the best default crypto tax software for most Australian retail investors in 2026. The combination of broad integration support, correct Australian tax rule handling, reasonable tiered pricing, and strong external security certifications is not matched by any single competitor. For typical users with two or three exchanges, some staking, and one or two wallets, Koinly reduces tax preparation from a manual multi-hour ordeal to a 30-minute review process.
The cases where I would recommend a different tool are narrow. Heavy DeFi: Summ. Maximum Australian focus: Syla. For the retail majority, Koinly is the right choice.
The December 2025 Mixpanel exposure is worth knowing about but should not change the verdict. It was a third-party analytics vendor incident, not a platform breach. Koinly's disclosure and response were appropriate.
Koinly's report accuracy depends on the exchange you import from. AUSTRAC-registered Australian options including CoinJar, CoinSpot, Independent Reserve, and Binance all have working integrations; see Best Crypto Exchanges Australia for a side-by-side.
Before you finalise your Koinly report at EOFY, run the free Tax-Loss Harvesting Calculator to model how much tax you can save by realising underwater positions to offset capital gains before 30 June. The calculator applies the 50 percent CGT discount and your marginal rate, surfacing the exact AUD saving per disposal scenario.
Get started with Koinly
AUD 64 to 239 per year tiered by transaction count. 800+ integrations. ATO myTax report built in.
Get started with KoinlyFrequently asked questions
Koinly holds SOC 2 Type II and ISO 27001 certifications and has never had a breach of the core platform. The December 2025 Mixpanel exposure was limited to email addresses and did not involve passwords, transaction data, or financial information.
No. Koinly is tax preparation software, not a financial institution, and does not report user data to the ATO. The ATO receives transaction and identity data directly from AUSTRAC-registered Australian exchanges (CoinSpot, Binance Australia, Independent Reserve and others) under the crypto asset data-matching program. Koinly's role is to help you accurately prepare your own return based on the data the ATO already has access to.
Tiered by transaction count: AUD 64/yr for 100 transactions (Newbie), AUD 103/yr for 1,000 (Hodler), AUD 165/yr for 3,000 (Trader), AUD 239/yr for 10,000+ (Pro).
Koinly is the cheapest entry-tier option (AUD 64 vs Summ's AUD 99 and Syla's AUD 59) and has the broadest accountant brand familiarity. Summ is materially better for users with heavy DeFi activity (3,500+ integrations vs Koinly's 800+). Syla is the most ATO-specific Australian-only product. The best choice depends on activity profile, not absolute quality.
Yes. Koinly applies the 50 percent CGT discount automatically for assets held longer than 12 months by individuals and trusts. Also handles the SMSF one-third discount.
Yes. Koinly supports 200+ DeFi protocols including major liquidity pools (Uniswap, Curve, Balancer), lending protocols (Aave, Compound), yield farms, staking derivatives (Lido, Rocket Pool), and wrapping or bridging operations. DeFi coverage is good but materially narrower than Summ's 1,500+ DeFi protocol footprint. For users with heavy or long-tail DeFi activity, Summ is structurally the better fit.
Yes. Koinly's Australian output includes an ATO myTax-formatted summary report providing the capital gains, capital losses, and ordinary income figures you enter directly into the myTax lodgement screens. Reports apply the 50 percent CGT discount automatically for assets held over 12 months and classify staking rewards as ordinary income on receipt per ATO guidance.
Koinly's core tax software platform has not been breached and holds SOC 2 Type II and ISO 27001 certifications. The December 2025 Mixpanel exposure was a third-party analytics vendor incident limited to email addresses, with no exposure of passwords, transaction data, or financial information. Koinly disclosed the incident publicly and rotated all affected vendor credentials.
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