3 Best Crypto Tax Accounting Tools for 2021

None of us enjoy tax season, and sadly, the taxes won’t do themselves. Crypto taxes can be complex with little guidance on rules and regulations. I know that I sleep better at night knowing they’re done right. That’s why I set out to find the best Crypto friendly tax software.

At their best, these Crypto accounting tools link to your exchange APIs and upload your wallet address transactions seamlessly without any effort on your part. At worst, they are inaccurate and don’t end up saving any time compared to a basic spreadsheet tracking system. To be clear, none of these tools are perfect, but from personally testing the top players, I found that these three were the best.

DISCLAIMER: I am not paid by, or have any relationship with, any of the below companies. I’m just a crypto trader trying to find the best tax accounting options and wanted to share what I found.

1. Accointing www.accointing.com

Overview: Accointing is the accounting system that I chose to do my taxes. I found Accointing to be the most accurate at syncing with a variety of different exchanges and wallets. It did the best job of transferring the complicated transactions for my Metamask, when many other systems really struggled. The interface is clean and easy to use. The syncing was fast. The main issue that I found was having to use a CSV upload template if the exchange I was using wasn’t listed. Accointing also has a nice year round portfolio tracker with a mobile app as well.

Pricing: Reasonable pricing compared to competitors based on transaction quantity. Ranging from a Free option for under 25 transactions to a Pro account for $259 with 50,000 transactions.

Summary:

Pros – Variety of exchange options, clean UI, fast, comparatively affordable, 30 day money back guarantee, nice year round free portfolio tracker and mobile app.

Cons – Did not have as many exchange APIs as some other sites, has a template to upload exchange CSVs

2. Koinlyhttps://app.koinly.io/

Overview: Koinly takes the runner up spot. They have the easiest options for uploading all of my exchanges without having to use a template for uploading CSVs or spreadsheets. They also have a pleasant and easy-to-use experience. The portfolio tracker is visually pleasing and free to use year round. The problem that I found with Koinly, is that the uploads of my CSVs and APIs was not very accurate. I found that I have to go in a correct many of the uploads by hand. The upload speed was also slow and would often take extended periods to finish.

Pricing: Their pricing is reasonable compared to competitors. Ranges from $49 Newbie account with 100 transaction to $279 Pro account.

Summary:

Pros – Most options for uploading exchanges and APIs without having to use a specific template, clean UI and easy to use, reasonable pricing, also has free portfolio tracker.

Cons – Not great upload accuracy, slow upload speeds, no mobile app

3. ZenLederhttps://app.zenledger.io

Overview: ZenLedger is a highly usable tax accounting software. They incorporate a wide variety of wallets and exchanges. The UI is simple and clean. Zenleder is a functional tax system, yet I found it to be lacking in the user experience category. They make it very easy to edit individual transactions which I found helpful. There is no portfolio tracker. I found the feature set somewhat limited compared to Accounting and Koinly. They also require a template for uploading non-API exchanges.

Pricing: Zenledger pricing is comparable to the previous two with a slightly higher cost for the premium account, ranging from a free plan of 25 transaction or under to the Executive plan at $399.

Summary:

Pros – Simple and usable. Comparatively fair pricing model. Easy to edit individual transactions

Cons – Missing features like portfolio tracker, slower upload speeds, not as accurate uploading as Accointing, no mobile app.

The Competition – Some other popular choices include: Tokentax, Cointracking, Cointracker and BearTax, which all have their pros and cons, but didn’t meet the same level of quality that I found in the top three. If you want a professional crypto accountant to do your taxes for you, these options may be better than the ones listed above, however the cost will substantially increase to the $600-$1500 price range. For personal use, I found these popular tools, were either not as usable, had higher pricing models, inaccurate tracking, or lack of exchange uploading depending on which one you choose.

Conclusion: None of the systems that I tried were perfect. The technology is constantly improving to make crypto tax process easier, nonetheless, the old spreadsheet model may still be the most accurate and cost effective tax tool if you have the time and the willpower. If you have a simple trading history, any of these systems should be able to crank out your taxes without a problem. If you’re like me with a more complicated trading history, staking, farming, liquidity provision, airdrops etc., Accointing seemed to be the best fit of accuracy, user experience and pricing that I found. However you my have different criteria, so I suggest that you try different options and see what works for you.

This is a very short rundown of each system. Feel free to leave comments below about your experience with crypto tax tools or questions about my experience.