Last updated on 7 August 2026
7 Simple Steps to Set Up an Account on Koinly
To set up an account on Koinly, you need to sign up with your email, connect your crypto wallets or exchanges, and it will automatically calculate your crypto taxes.
It is a well-known cryptocurrency tax program that is widely used by professionals and individuals worldwide. It helps you calculate your tax obligations from cryptocurrency trading, staking, mining, and other crypto-related activities.
Whether you’re a complete beginner or someone with years of experience in crypto, It makes tax reporting simple and stress-free.
What Is Koinly?
Koinly is a cloud-based crypto tax calculator that supports over 700 integrations, including exchanges like Binance, Coinbase, and Kraken, as well as wallets like MetaMask and Ledger. It works by pulling your transaction history, categorising each type of activity (buy, sell, transfer, earn), and generating tax reports based on your country’s tax laws.
According to Koinly, their platform supports users in more than 100 countries and complies with local tax authority standards, including HMRC (UK), the IRS (USA), and the ATO (Australia).
How to Set up an Account on Koinly: A Full Guide
As a novice or a seasoned crypto trader, you must know the easiest steps to set up an account on Koinly:
1. Go to the Koinly Website
Visit www.koinly.io. You can use it from your computer or your phone, as it’s fully web-based.
2. Click “Sign Up” to Set Up an Account on Koinly
On the homepage, simply click the “Sign Up” button. Then, you’ll be prompted to register using your email address. Alternatively, you can choose to sign up with your Google, Apple, or Coinbase account for quicker access.
Example: If you already use Google for your crypto accounts, using Google to sign into It will save you time and keep things simple.
3. Select Your Account Type
Once you’ve registered, Koinly will ask whether you’re creating an account as an individual, business, or accountant. Select the choice based on your needs.
If you’re managing your own crypto portfolio, select “Individual”. If you’re helping clients with tax reports, choose “Accountant”.
4. Choose Your Country and Base Currency
Koinly will ask you for your country and the currency you want to use for your tax reports. If you are in the United Kingdom, choose “United Kingdom” and “GBP.” It will then automatically apply HMRC tax rules.
5. Add Your Crypto Wallets and Exchanges
This is the most important step. Koinly works best when it can see all your crypto activity. You can connect your:
- Wallets (like MetaMask, Ledger, or Trust Wallet)
- Centralised exchanges (like Binance, Kraken, or Coinbase)
- Blockchain addresses (such as Ethereum or Bitcoin addresses)
You can do this using API connections (automatic syncing) or by uploading a CSV file (manual import).
For instance, let’s say you use Binance and MetaMask. In that case, you can connect Binance using API keys, and then simply paste your Ethereum address from MetaMask to sync your wallet.
It will start importing your transaction history. This usually takes a few minutes.
6. Review Your Transactions
Once your data is uploaded, Koinly will organise your transactions. Every transaction, transfer, and revenue event will be visible to you.
Occasionally, you may see warnings like “Missing Purchase History” or “Duplicate Transactions.” Fortunately, these are common issues and are easy to fix using Koinly’s help guides or by uploading the missing data.
7. Generate Your Tax Report
After reviewing your transactions, go to the Tax Reports tab. Koinly will calculate your gains, losses, and income for the selected tax year. Tax reports are available for download in a number of formats, including:
- Capital gains report
- Income report
- Complete tax summary
- HMRC-ready report (for UK users)
Many accountants accept Koinly reports directly. Some users even submit them themselves if they’re filing through HMRC’s online Self Assessment.
Why Koinly Is Useful?
Koinly saves hours of manual work. For active traders, tax season can be overwhelming. With it, it’s as easy as plug and play.
It also reduces the risk of error. HMRC and other tax authorities are tightening crypto tax rules, and inaccurate filings can lead to penalties. It ensures that your tax reports are compliant and audit-ready.
In a recent survey, over 49% of crypto holders admitted they were unsure how to calculate taxes correctly. However, tools like Koinly are changing that, making crypto taxes both accessible and understandable for everyone.
Final Thoughts
Setting up an account on Koinly is quick, easy, and secure. Within minutes, you can connect your wallets and exchanges, review your transaction history, and generate accurate tax reports. Regardless of your level of experience, It assists you in maintaining compliance with cryptocurrency taxes.
As cryptocurrency continues to grow, tools like Koinly are becoming increasingly essential. Moreover, with the growing focus from HMRC and other regulators, having clean and complete records can help protect you from stress, fines, and audits.
Having Koinly Trouble? Crypto Accountants Can Help!
Crypto Accountants don’t just plug in wallets and generate PDFs; we actually understand what the data means. We help investors, traders, and crypto-curious founders stay ahead of HMRC, sort out messy transaction histories, and turn confusing reports into clean, compliant tax filings.
If your crypto taxes feel overwhelming, chaotic, or just plain boring, hand them to Crypto Accountants who get it. We will sort the details as we make crypto tax make sense.
People Also Ask
Is Koinly free to use?
Yes, Koinly has a free plan that lets you import and review transactions. However, to generate tax reports, you’ll need a paid plan starting around £39 per tax year.
Can I use Koinly without linking my wallets?
Yes, you can manually upload CSV files or enter transactions one by one. But linking wallets via API is faster and more accurate.
Does Koinly work for UK tax laws?
Absolutely. Koinly applies HMRC rules by default when you select the UK as your country. It even supports income from staking, airdrops, and NFTs.
Is Koinly safe to use?
Yes. Koinly uses bank-level encryption along with read-only API keys. In other words, it cannot move or access your crypto assets, it can only read your transaction history securely.
