Defitax vs Koinly

Defitax is a web tool for preparing cryptocurrency transaction data for tax reporting. It calculates cost basis and gains or losses, then produces tax documents. The service is aimed at DeFi traders using liquidity pools, bonding curves, prediction markets, perpetual futures and related activities. It lists support for Bitcoin, Solana, Ethereum, TRON, Base, BNB Chain, Polygon and Arbitrum, with imports from Binance, Coinbase, Kraken, Bybit, OKX, Hyperliquid, MEXC, Orderly, CoinSpot and generic CSV files. Tracking covers Hyperliquid perpetuals, prediction markets, launch platforms, liquidity-pool yields, Jupiter DCA and perpetual positions, bridges and NFTs. Cost-basis choices are FIFO, LIFO, HIFO and Specific ID, applied universally or per wallet. The free plan allows up to 500 transactions and provides a dashboard but no report export. Unlimited costs $199 a year and adds exports, tax forms, multi-jurisdiction support and the AI Tax Agent.

Koinly calculates cryptocurrency taxes and helps users prepare tax reports. It imports exchange history through APIs or CSV files and connects blockchain wallets using public addresses; private keys are not required. Koinly says it auto-syncs from 1,000+ direct integrations and 7,200+ DeFi protocols, with unlimited CSV imports. It supports DeFi and NFT transactions, displays holdings, return on investment, and growth over time, and can show the potential impact of tax-loss harvesting. Reports include US Form 8949 and are available for 20+ countries. The free plan includes portfolio tracking and a preview of capital gains. Paid plans are purchased for specific tax years rather than as subscriptions: Newbie costs $49 a year per tax year, Hodler $99 a year per tax year, and Trader from $199 a year per tax year. Regular accounts support up to 100,000 transactions, with additional transactions purchasable in the app above the top-plan limit. Koinly lists web, Android, and iOS, with mobile apps identified as beta options.