Tax Software   Comparisons  

Why You Should Choose — or Should Have Chosen CHAINOMETRY (vs. Koinly)

There’s a single reason why you should choose CHAINOMETRY, and we’re proud of it: CHAINOMETRY gives you the greatest possible value among all of crypto tax software providers out there.

  1. You‘ll save a lot — a great deal of money.
  2. You get all the essential features — working in the best performance.
  3. You get free access to a real, accurate, and helpful analytical tool.

1. You‘ll save a great deal of money, at least $198

Let’s compare the pricing plans, using the US Dollar.

CHAINOMETRY offers a free plan (Turtle), all inclusive. with a limit of 50 transactions on your tax reports. You can still download up to 10,000 transactions and see profit and loss details for all these transactions as well as see analytics for all 10,000 transactions. At the time of writing Koinly does not offer an all inclusive free plan so if you have up to 50 transactions then you're ahead $49!

As of the date of writing, the lowest paid plan of Koinly is $49, limiting transactions up to 100 only. With similar features, CHAINOMETRY’s $49 plan brings much greater value as it supports 200 transactions.

The next level of the paid plan of Koinly is priced at $99 which limits up to 1,000 transactions only. With the same price, CHAINOMETRY gives you amazing flexibility of 3,000 transactions.

For you who trade more often, you’ll benefit much more from CHAINOMETRY’s $159 plan that supports 6,000+ transactions, rather than Koinly’s more expensive $179 plan that only supports 3,000 transactions.

But, there’s much more you can get from CHAINOMETRY aside from just a greater number of transactions. You can save huge money — at least $198.

Let’s take an example of Koinly’s $99 “HOLDER”. plan vs. CHAINOMETRY’s $99 “BULL”. plan.

To generate a report, Koinly only allows you to choose a single tax year. If you have 1000 transactions per year, but you want to produce reports for three tax years, then you have to pay $99*3 periods = $297 in total.

But with CHAINOMETRY, you only need to pay $99 (3000 transactions) to generate an unlimited number of reports for different tax periods. You’ll be saving $198.

Let’s take another example, now using Koinly’s $179 plan vs. CHAINOMETRY’s $159 plan.

Considering that you’re pro traders who need to generate many reports for various tax periods, you have to pay $179 to Koinly to generate a single tax-year report, only for 3000 transactions. So, if you have to generate 2-year tax reports (assuming you have 3000 transactions per year), you have to pay $179 x 2 = $358. And let's face it, how often do you transactions fit neatly into a single financial period? Chances are, you're gonna need at least two years.

2. You get all the essential features, but better.

Name every essential feature that Koinly offers, and you’ll find that in CHAINOMETRY too. For sure, we support Crypto, DeFi, and NFT, generating high-quality and accurate tax reports with various options of cost basis method.

In fact, our features are better, you get:

  1. Minute-to-minute price data for impeccable accuracy

    We need to do hundreds, sometimes thousands of price lookups to value your transactions. Without accurate prices your cost basis will be out which means you either pay too much tax or not enough.

  2. One wallet with many coins and many addresses

    How frustrating is it to keep adding another wallet for the same coin just because you have many addresses? Or what if you have a hardware wallet that let's you store many coins and many addresses for each coin? You can do this in CHAINOMETRY. We haven't found another service that does it like us.

  3. We connect directly to Crypto Exchanges, we don't use third-party services.

    You might notice that we find more transactions than other services. The reason is that we daily scan the Crypto Exchanges for their latest list of coins so that we can include those coins when scanning for transactions.

  4. A truly free plan

    You have access to the entire suite of features and reports on our free plan. No restrictions.

We truly understand what you — the aspirational crypto traders and investors – truly need.

3. Free access to the most advanced & helpful analytic tool.

While Koinly gives you just a dashboard of your total holdings, ROI, and growth, CHAINOMETRY levels up the power of an analytical tool to truly help you make better trading/investing decisions.

Powered by accurate real-time data processing, these are some ways our dependable & easy-to-use analytic tool supports your success:

  1. Insightful chart showing realized profit or loss over time
  2. Success metric on trading performance
  3. Compare your trading strategy with top assets. You can also compare to traditional assets like Nasdaq and Gold.
  4. Keep track of balances across various exchanges and wallets
  5. Understanding trading performance across different trading accounts & different financial years

How to switch easily from Koinly to CHAINOMETRY?

Now that you’ve understood how CHAINOMETRY helps you save more and get better value, we’ll show you how to join CHAINOMETRY — or to easily switch from Koinly to CHAINOMETRY:

Just connect your exchange accounts and wallets to CHAINOMETRY, then import all of your transactions either by API import or by uploading a CSV file. Remember we build our crypto transaction engine to:

  • Detect and skip duplicate transactions
  • Daily scanning of exchanges to get latest coins so that we can get as many transactions as possible
  • Error reconciliation with double entry accounting ledger system and data all imported
  • Minute-to-minute price data for thousands of crypto pairs to give you the most accurate cost basis

We're always available to help you switch to CHAINOMETRY – 100% free of charge! Schedule a call here or send us any inquiries you have. We're happy to support you make the best value out of your investment.

Sign up & check out our 100% free package today!

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