CoinLedger’s is an Australian made platform that generates tax reports from any crypto exchange or public wallet address, ready for the ATO or your accountant.
In this review we explore its features, pricing, and how it compares to other crypto tax software in Australia.
CoinLedger review
By Billy Endres
Edited by Hannah Nissen-Ellison
This is not an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade or use any services.
Our verdict
Trusted by over 300,000 crypto investors, CoinLedger makes cryptocurrency tax simple.
CoinLedger's ability to generate profit and loss reports across a large number of platforms is a massive advantage over some competitor products. It offers a fair pricing model relative to the industry and tiered plans to suit a range of needs, with the unlimited plans providing good value for high-volume traders.
CoinLedger has helped over 300,000 investors successfully complete their cryptocurrency tax returns. With a 4.8 star TrustPilot rating and many positive customer reviews, CoinLedger has earned its place as a trusted cryptocurrency tax review company.
Pros
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Easily import historical data. Once you connect to your chosen exchange or wallet, you will be able to see your full transaction history.
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Made by Australian tax agents. Tax reports are designed with the ATO and local tax requirements in mind.
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Support across any crypto platform. With so many exchanges and wallets available, CoinLedger allows you to access all of your transaction history in a single place.
Cons
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Other crypto tax platforms offer free use for hobbyist traders. CoinLedger charges $49 for hobbyist traders (100 transactions), while you can get this for free with some other crypto tax providers.
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Classifying imports can get messy. If you’re a trader with multiple wallets, you may be required to declare how you originally acquired some of your crypto.
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Does not accept crypto as payment.
At a glance
- Tax reports can be generated via any cryptocurrency exchange or public wallet
- Plans range to accommodate hobbyists as well as advanced traders with over 5,000 transactions.
- Assets with an unverified origin will need to be classified manually, which can be time-consuming, but normal for crypto tax software.
How to sign up for CoinLedger
Signing up to CoinLedger, (formerly CryptoTrader.Tax) is simple and can be completed in a few steps:
- Enter your personal information
- Verify your account
- Select your currency and country
- Import and review your transaction history
How much does CoinLedger cost?
CoinLedger’s pricing is a tiered structure based on the amount of transactions in your imported wallets. Plans range from 100 transactions right up to a million, which might suit you if you're a professional trader or running a business.
CoinLedger lets you import your transaction history as well as calculate capital gains and losses free of charge. To download your report, you will need to complete payment.
You can pay using Visa, Mastercard or American Express. A 14-day money back guarantee is available on all packages.
| Demo (no tax report) | Hobbyist | Investor | Pro |
|---|---|---|---|
| $0 | $49 | $99 | $199 |
| Unlimited transactions | 100 transactions | 1,000 transactions | 3,000+ transactions |
How does CoinLedger work?
CoinLedger is simple to use and easy to get started. Once logged in, you will be prompted to select relevant exchanges or wallets. Next, enter your read-only API keys, or public wallet address for all selected accounts.
After importing accounts and classifying transactions, you will be able to review your entries and generate your report. Once your report is generated and payment verified, you will be able to select whether to import into CoinLedger’s partnered tax software providers TurboTax or TaxAct. If you would prefer to file the report yourself, or send it to your accountant, you can skip this step.
How experienced do you need to be with crypto to use CoinLedger?
CoinLedger’s tax reporting software is designed to accommodate beginner to advanced crypto users. Importing transaction history is as simple as entering your public wallet address, or the read-only API key provided by your cryptocurrency exchange.
For users with accounts across many wallets and different blockchains, things can get more complicated. For unidentifiable transactions, you will be required to declare where the funds originated. Whether it be from staking rewards, an airdrop, a token mint, etc.
What cryptocurrencies can I use with CoinLedger?
CoinLedger is able to generate profit and loss reports for all cryptocurrencies as well as NFTs from marketplaces including OpenSea.
Is CoinLedger safe? What are the risks?
CoinLedger utilises industry best practices including end-to-end encryption on all traffic, keeping your data safe and secure.
The main risk associated with any form of cryptocurrency or blockchain interaction is private key security. Always be sure that you’re submitting your public wallet address and not your secure keys.
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