Finding a crypto tax calculator that fits your needs can take some time and effort. Two leading platforms in this space are Blockpit and Koinly, each offering a range of features to track your crypto, calculate crypto taxes and report them to your local tax authorities.
While there are many similarities between these two crypto tax calculators, there are some important differences when it comes to asset support, integrations, pricing structure, and special features.
Read on to learn why crypto investors are making the switch from Koinly to Blockpit!
Key Facts
<figure class="block-table">
<table>
<tr>
<th></th>
<th>Blockpit</th>
<th>Koinly</th>
</tr>
<tr>
<td>Pricing</td>
<td>Starting at 49$</td>
<td>Starting at 49$</td>
</tr>
<tr>
<td>Free Version?</td>
<td>Free portfolio tracking with full functionality</td>
<td>Free portfolio tracking</td>
</tr>
<tr>
<td>Supported Assets</td>
<td>300,000+</td>
<td>20,000+</td>
</tr>
<tr>
<td>Mobile App</td>
<td>Free for iOS and Android</td>
<td>Free for iOS and Android</td>
</tr>
</table>
</figure>
Crypto Tax Reporting
<figure class="block-table">
<table>
<tr>
<th></th>
<th>Blockpit</th>
<th>Koinly</th>
</tr>
<tr>
<td>Complete PDF Tax Report</td>
<td>✅</td>
<td>✅</td>
</tr>
<tr>
<td>Supported Countries</td>
<td>60+</td>
<td>60+</td>
</tr>
<tr>
<td>Pre-Filled Tax Forms</td>
<td>✅</td>
<td>✅</td>
</tr>
<tr>
<td>Income Overview</td>
<td>✅</td>
<td>✅</td>
</tr>
<tr>
<td>Capital Gains</td>
<td>✅</td>
<td>✅</td>
</tr>
<tr>
<td>Derivatives</td>
<td>✅</td>
<td>✅</td>
</tr>
<tr>
<td>Cost Basis Methods</td>
<td>FIFO, ACB, Shared Pool</td>
<td>FIFO, LIFO, ACB, Shared Pool, HIFO</td>
</tr>
<tr>
<td>Additional Explanation for Tax Authorities</td>
<td>✅</td>
<td>✅</td>
</tr>
<tr>
<td>Tax Optimization Features</td>
<td>✅</td>
<td>⛔</td>
</tr>
</table>
</figure>
Blockpit and Koinly are both robust crypto tax calculators, supporting over 60 countries and offering comprehensive PDF tax reports, income overviews, and capital gains tracking. Both platforms provide pre-filled tax forms and detailed explanations for tax authorities in selected countries (see the next section for a detailed list.)
View examples of the Blockpit PDF Reports here: Sample Tax Reports
However, Blockpit stands out with its tax optimization features, which Koinly lacks, making it the better alternative if you’re looking to optimize your crypto tax liabilities.
While Koinly offers a wider range of cost basis methods, including LIFO and HIFO, it should be noted that many tax offices, like the German one, will only accept FIFO.
Country-Specific Reporting
<figure class="block-table">
<table>
<tr>
<th>Country</th>
<th>Blockpit</th>
<th>Koinly</th>
</tr>
<tr>
<td>USA (IRS forms)</td>
<td>✅</td>
<td>✅</td>
</tr>
<tr>
<td>UK (HMRC forms)</td>
<td>✅</td>
<td>✅</td>
</tr>
<tr>
<td>Germany (BZSt forms)</td>
<td>✅</td>
<td>⛔</td>
</tr>
<tr>
<td>Canada (CRA forms)</td>
<td>⛔</td>
<td>✅</td>
</tr>
<tr>
<td>Australia (ATO forms)</td>
<td>⛔</td>
<td>✅</td>
</tr>
<tr>
<td>France (DGFiP forms)</td>
<td>✅</td>
<td>✅</td>
</tr>
<tr>
<td>Spain (AEAT forms)</td>
<td>✅</td>
<td>⛔</td>
</tr>
<tr>
<td>Italy (Agenzia Entrate forms)</td>
<td>✅</td>
<td>⛔</td>
</tr>
<tr>
<td>Austria (BMF forms)</td>
<td>✅</td>
<td>⛔</td>
</tr>
<tr>
<td>Netherlands (Belastingdienst forms)</td>
<td>✅</td>
<td>⛔</td>
</tr>
<tr>
<td>Switzerland (FTA forms)</td>
<td>✅</td>
<td>✅</td>
</tr>
<tr>
<td>Denmark (Skattestyrelsen forms)</td>
<td>⛔</td>
<td>✅</td>
</tr>
<tr>
<td>Sweden (Skatteverket forms)</td>
<td>⛔</td>
<td>✅</td>
</tr>
<tr>
<td>Finland (Vero Skatt forms)</td>
<td>⛔</td>
<td>✅</td>
</tr>
<tr>
<td>Belgium (SPF forms)</td>
<td>✅</td>
<td>⛔</td>
</tr>
</table>
</figure>
Country-specific tax reporting is a key feature for any crypto tax calculator and should be one of the main points to evaluate when looking for an alternative to Koinly.
Both Blockpit and Koinly cover a wide range of local tax frameworks, placing them at the top of the list of global crypto tax calculators.
While Koinly supports several international tax forms, it lacks coverage in some key European countries, like Germany, Spain, Italy, Switzerland or Austria.
Portfolio Tracking
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<table>
<tr>
<th></th>
<th>Blockpit</th>
<th>Koinly</th>
</tr>
<tr>
<td>Free Portfolio Tracking</td>
<td>✅</td>
<td>✅</td>
</tr>
<tr>
<td>Historical Price Info</td>
<td>14 years</td>
<td>8 years</td>
</tr>
<tr>
<td>Advanced Performance Indicators</td>
<td>✅</td>
<td>⛔</td>
</tr>
<tr>
<td>NFT Gallery</td>
<td>✅</td>
<td>✅</td>
</tr>
</table>
</figure>
When it comes to crypto portfolio tracking, Blockpit and Koinly both offer free tracking options for your crypto portfolio including NFT galleries for your valuable collectibles.
Blockpit provides historical price information for up to 14 years, significantly surpassing Koinly's 8 years. This extensive data range allows for a more comprehensive analysis of long-term investment performance.
Moreover, Blockpit includes advanced performance indicators, a feature that Koinly lacks. These indicators are crucial for investors seeking detailed insights into their portfolio's performance, enabling more informed decision-making.
Integrations
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<table>
<tr>
<th></th>
<th>Blockpit</th>
<th>Koinly</th>
</tr>
<tr>
<td>Exchange Integration</td>
<td>160+</td>
<td>400+</td>
</tr>
<tr>
<td>Chain / Wallet Integrations</td>
<td>250+</td>
<td>250+</td>
</tr>
<tr>
<td>On-Chain Import Limitations</td>
<td>No Limitations</td>
<td>No Limitations</td>
</tr>
<tr>
<td>DeFi Protocol Integrations</td>
<td>✅</td>
<td>✅</td>
</tr>
<tr>
<td>Auto-Sync</td>
<td>✅</td>
<td>✅ with additional cost</td>
</tr>
<tr>
<td>CSV Upload</td>
<td>✅</td>
<td>✅</td>
</tr>
</table>
</figure>
The number and types of integrations are crucial in crypto tax solutions as they eliminate the need for manual data entry, significantly reducing the risk of errors and time required to maintain your portfolio.
Both Blockpit and Koinly cover an exhaustive list of popular crypto exchanges, wallets and blockchains. But we have to give props to Koinly here: Offering 400+ exchange integrations is impressive!
Have a look at our integrations list to see if Blockpit covers your needs: Blockpit Integrations
Supported Assets
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<table>
<tr>
<th></th>
<th>Blockpit</th>
<th>Koinly</th>
</tr>
<tr>
<td>Supported Digital Assets</td>
<td>300,000+</td>
<td>20,000+</td>
</tr>
<tr>
<td>LP Token</td>
<td>✅</td>
<td>✅</td>
</tr>
<tr>
<td>Derivatives</td>
<td>✅</td>
<td>⛔</td>
</tr>
<tr>
<td>Commodities</td>
<td>✅</td>
<td>⛔</td>
</tr>
<tr>
<td>NFTs</td>
<td>✅</td>
<td>✅</td>
</tr>
<tr>
<td>FIAT</td>
<td>✅</td>
<td>✅</td>
</tr>
<tr>
<td>Spam Token Filter</td>
<td>✅</td>
<td>✅</td>
</tr>
</table>
</figure>
Blockpit and Koinly both support a wide range of digital assets, but Blockpit offers a staggering 300,000+ supported digital assets compared to Koinly's 20,000+. If it has a ticker symbol, there’s a good chance we support it.
Both platforms support LP tokens, NFTs, and FIAT currencies, providing comprehensive coverage for various investment types. However, Blockpit goes further by supporting derivatives and commodities, which Koinly does not. This makes Blockpit more versatile for users with diverse portfolios.
Additionally, both platforms feature a spam token filter, ensuring clean and accurate asset tracking.
Overall, Blockpit's extensive asset support and additional features make it the superior alternative for comprehensive portfolio management and crypto tax calculation.
DeFi, Futures, Margin
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<table>
<tr>
<th></th>
<th>Blockpit</th>
<th>Koinly</th>
</tr>
<tr>
<td>DeFi Support</td>
<td>✅</td>
<td>✅</td>
</tr>
<tr>
<td>Staking</td>
<td>✅</td>
<td>✅</td>
</tr>
<tr>
<td>Lending / Borrowing</td>
<td>✅</td>
<td>✅</td>
</tr>
<tr>
<td>Add / Remove Liquidity</td>
<td>✅</td>
<td>✅</td>
</tr>
<tr>
<td>Futures & Margin Trading</td>
<td>✅</td>
<td>✅</td>
</tr>
</table>
</figure>
The rise of crypto brought in the era of decentralized finance and with it came many new and revamped financial products, services and applications. Most crypto tax calculators offer a basic support for these types of transactions, and Blockpit and Koinly are no exception.
Blockpit supports a wide range of DeFi activities, including staking, lending, borrowing, and liquidity management. It also handles futures and margin trading, ensuring widespread coverage of all trading activities. Koinly offers similar features but lacks some advanced functionalities, making Blockpit a more robust alternative to Koinly.
Customer Support
<figure class="block-table">
<table>
<tr>
<th></th>
<th>Blockpit</th>
<th>Koinly</th>
</tr>
<tr>
<td>Live Chat</td>
<td>✅+ Smart Tax Bot</td>
<td>⛔+ Generic Chat Bot</td>
</tr>
<tr>
<td>Crypto Tax Guides</td>
<td>✅</td>
<td>✅</td>
</tr>
<tr>
<td>Email</td>
<td>✅</td>
<td>✅</td>
</tr>
<tr>
<td>Community</td>
<td>✅</td>
<td>⛔</td>
</tr>
<tr>
<td>Help Center</td>
<td>✅</td>
<td>✅</td>
</tr>
<tr>
<td>Webinars</td>
<td>✅</td>
<td>⛔</td>
</tr>
</table>
</figure>
Crypto tax can be a complex topic for many, with an ever-changing regulatory landscape and numerous specific edge cases. Unfortunately, Koinly offers limited support, providing only email assistance and a basic chat bot without live chat or community support. While Koinly offers Crypto Tax Guides for a larger number of countries, they do not tend to go into too much detail for country-specific topics.
Blockpit offers extensive customer support, featuring a recently launched smart tax bot, email assistance, and a comprehensive help center. The smart tax bot is trained on crypto tax regulations, providing specific answers to user queries.
Blockpit also boasts a growing community of crypto investors and tax experts and hosts regular webinars to provide valuable insights, answer questions, and help users maximize their platform experience.
Overall, Blockpit's superior customer support and education options, including live chat, community support, and educational webinars, make it a more user-friendly choice for navigating crypto tax complexities.
Why Blockpit Is the Best Koinly Alternative for Your Crypto Tax Report
Blockpit stands out as the best alternative to Koinly for several compelling reasons. It offers comprehensive tax optimization features that Koinly lacks, enabling users to optimize their tax liabilities more effectively.
Blockpit supports an extensive range of over 300,000 digital assets, including derivatives and commodities, compared to Koinly's 20,000, providing greater versatility for diverse portfolios. Its portfolio tracking capabilities are superior, with historical price information for up to 14 years and advanced performance indicators, allowing for a more in-depth analysis.
Additionally, Blockpit excels in customer support with a smart tax bot trained on crypto tax regulations, live chat, a comprehensive help center, and a supportive community. Regular webinars hosted by Blockpit offer valuable insights and assistance, enhancing the user experience.
If you’re looking for a reliable, efficient, and cost-effective tax solution, Blockpit is the superior choice, offering distinct advantages that make it the best alternative to Koinly.
