#koinly #cryptowallets

What does Koinly offer?

First of all, the software seamlessly integrates with most crypto exchanges and wallets, including self-custodial wallets and decentralized exchanges (DEXes). This automatic import of crypto activities saves you countless hours, potentially days, of manual data entry. It even handles transactions from multiple crypto debit cards, simplifying the complex task of recording thousands of purchases that may constitute taxable events.

Secondly, Koinly synchronizes information via API keys from your crypto wallets, exchanges, and DeFi platforms. If API keys are not available, users can export data into a CSV file and upload it into the tax software. Once the data is collected, Koinly generates detailed tax reports that can be used with tax filing tools like TurboTax or printed and sent to an accountant. Depending on the platform, users can also file their taxes directly through Koinly.

Thirdly, Koinly provides localized tax reports for over 20 countries, ensuring compliance with specific regional tax laws, and offers generic tax reports useful for more than 100 countries. Using Koinly is a rational and efficient solution for managing your crypto taxes, avoiding the hassle and complexity of manual calculations, and potentially saving you from the drastic step of relocating to tax-friendly jurisdictions.