Last updated on 7 August 2026
How to Connect Your Trezor Wallet to Koinly for Easy Crypto Tax Reporting?
You can connect your Trezor wallet to Koinly by syncing it with your wallet’s public keys or by exporting your transaction history. It helps you track all your crypto activity and prepare accurate tax reports.
Managing crypto taxes can feel complicated, especially if you hold coins across multiple wallets and exchanges. If you are using a hardware wallet like Trezor, it is designed for security, but it does not provide built-in tax reporting tools.
On the other hand, Koinly is a tax software built for crypto users. It collects your transaction history, calculates your profits and losses, and generates tax reports that comply with regulations in the UK, US, Australia, and many other countries.
When you connect Trezor to Koinly, you combine strong wallet security with simple tax compliance.
Why Do You Need to Connect Trezor to Koinly?
A Trezor wallet keeps your crypto safe by storing your private keys offline. But while Trezor secures your coins, it does not calculate capital gains, income, or losses. That is where Koinly comes in.
For example, if you bought Bitcoin for £20,000 in your Trezor wallet and sold it later for £28,000, you have a capital gain of £8,000. Tax authorities like HMRC in the UK or the IRS in the US expect you to report this. Without a tool like Koinly, you would need to calculate these figures manually, which is time-consuming and error-prone.
By connecting Trezor to Koinly, you:
- Automatically sync transactions
- Track holdings across multiple wallets and exchanges
- Generate country-specific tax reports (e.g., HMRC Capital Gains Summary)
If you’re new to Koinly, you might first want to check out our guide on how to set up an account on Koinly in 7 simple steps.
2 Methods to Connect Trezor Wallet to Koinly
There are two main ways to connect your Trezor wallet to Koinly:
1. Sync via Public Keys (xPub, yPub, zPub)
Most Trezor wallets allow you to export your extended public keys (xPub, yPub, zPub). These keys let Koinly read your wallet’s transaction history without exposing your private keys.
Steps:
- Log in to your Trezor wallet interface (Trezor Suite).
- Select the wallet/account you want to connect.
- Find the extended public key option (xPub, yPub, or zPub).
- Copy the key.
- Go to Koinly > Wallets > Add Wallet > Trezor.
- Paste the public key into Koinly.
Koinly will now automatically import all past and future transactions for that wallet.
Why this works: The public key only provides read access. It does not allow anyone to move your funds, so your assets remain safe.
2. Import via CSV File
If you prefer not to share your public key, you can export your transaction history from Trezor and upload it into Koinly manually.
Steps:
- Open your Trezor Suite.
- Export your transaction history as a CSV file.
- Log in to Koinly.
- Go to Wallets > Add Wallet > Trezor.
- Upload the CSV file.
This method works well if you want to keep complete control, but it means you will need to re-upload new CSV files every time you want updated tax reports.
Need to share data with your accountant later? Learn how to send a Koinly invitation in 7 simple steps.
Which Method Should You Use?
- Public Key Sync: Best for ongoing tracking. Once connected, your transactions are automatically updated.
- CSV Upload: Best for one-time reporting. If you only need a tax report once per year, this may be enough.
Both methods keep your coins safe. The choice depends on whether you want real-time tracking or just annual reporting.
Let’s Understand with a Scenario…!
Sarah is a UK-based investor. She uses Trezor to store Ethereum and has been staking ETH for the past two years. By law, staking rewards count as income.
When Sarah connects her Trezor wallet to Koinly via public keys, Koinly automatically detects:
- The ETH she bought and sold
- The staking rewards she earned
- The value of each transaction in GBP at the time
At the end of the tax year, Koinly generates a Capital Gains Summary and an Income Report. Sarah can then submit these directly to HMRC or share them with her accountant.
Without Koinly, she would have to manually check ETH prices on the date of every transaction, which could take hours.
Want expert help setting this up? Book a free 30-minute call with Crypto Accountants and let us guide you through tax compliance with ease.
Conclusion
You can either use your public keys for automatic syncing or upload CSV files for manual reporting. Both methods are secure and keep your coins safe.
Once connected, Koinly tracks your gains, losses, and income, and generates reports that meet tax authority requirements.
You don’t need to spend hours calculating your crypto taxes. By using Trezor with Koinly, you get both strong security and accurate reporting.
Need expert help with your crypto taxes? At Crypto Accountants, we specialise in tax and compliance for crypto investors, traders, and businesses. Connect with us today to make sure your reports are accurate, compliant, and stress-free.
FAQs
1. Is it safe to connect my Trezor wallet to Koinly?
Yes. Koinly only needs your public keys or CSV data. These allow read-only access. Your private keys stay inside your Trezor device.
2. What if I use multiple wallets with Trezor?
You can connect each wallet account separately in Koinly. This way, all your holdings and transactions are included in one tax report.
3. Do I still need an accountant if I use Koinly?
Koinly prepares accurate tax reports, but some investors prefer having an accountant check them, especially if they trade large amounts or use complex strategies like DeFi or NFTs.
4. Does Koinly work in my country?
Koinly supports tax reports for the UK, US, Canada, Australia, and many other regions. Even if your country is not listed, you can still export your data and share it with a local accountant.
