What's the best crypto tax software, Koinly or Awaken?
Hey hey. Before we jump in, I want to introduce myself.
My name is Andrew, and like you I spent days looking for a great crypto tax product. But after trying them all (and pulling out my hair in the process), I couldn't find any I liked. And that's why I created Awaken.
There are a lot of things that make us great. But truth be told there is one thing that really sets us apart... We care about you.
We'll work tirelessly to build the absolute best product for you. Every year you use us, we will get better. And if you ever have feedback, you can DM me (here's my X).
And with that being said, let's jump into it 👇
What We'll Cover
In this post, I'll break down Awaken vs. Koinly across five key areas:
Koinly wins on integrations and sometimes price. But if you care about service, automation, accuracy, and having a crypto-native team in your corner — Awaken is the best crypto tax software. But let's dive into the details.
1. Customer Service
Crypto taxes can be complex. And there is sometimes some nuance, and you'll likely have a question or two while you're doing your taxes.
Taxes can be super stressful, and our goal with customer service is to be as helpful as possible to turn that stress into relief.
- Koinly: Mostly self-serve. If something breaks, you're digging through CSVs or hunting for answers online.
- Awaken: Real people who live and breathe crypto taxes. We don't just leave you with software — we work with you to make sure things are right.
For complex portfolios (DeFi, staking, NFTs, perpetuals), service matters way more than a $50 difference in price.
If you want to chat, we're available over email or live chat here.
👉 Winner: Awaken.
2. Community & Trust
Crypto Twitter loves Awaken. The most active traders, founders, and people at top crypto companies rely on Awaken. Here are just a few of our fans.
TOTAL AWAKEN DOMINANCE
— karbon 🐺🦊 (@basedkarbon) August 3, 2025
If you haven't tried @AwakenTax, this is your sign:https://t.co/gYQiZPJcvm
Get a head start on tax loss harvesting and offsetting gains for tax season.
If you're switching over from another crypto tax software, I will personally guarantee you'll be… https://t.co/2vskKxEOa0
Why? Because we're crypto-natives ourselves — we use the same tools, the same wallets, the same on-chain products.
Koinly has been around much longer (they are 4x older than Awaken), so they have a lot more users. They were one of the first products that actually took onchain crypto users seriously, and built a product to attempt to solve their tax problems.
But they stopped building really good onchain support and focused on quantity instead of quality. They got lazy and let a lot of their support slip. So a lot of people that once loved Koinly have been switching to Awaken.
The top reason: Awaken has better onchain automation (but we'll cover that more below).
👉 Winner: Awaken, but Koinly still has more users (for now)
3. Pricing & Integrations
Here's the honest breakdown:
- Awaken offers the most generous free tier in the industry — up to 300 transactions for free. Perfect if you're just getting started.
- For most tiers, pricing is basically the same between Awaken and Koinly.
- If you're a heavy on-chain user with lots of transactions, Awaken's top plan is $699 vs. Koinly's $399 (though Koinly can charge extra for add-ons).
At those higher volumes, here's the real trade-off:
- Koinly: Cheaper upfront if you just want raw reports.
- Awaken: More automation and support, which can save you hundreds of hours cleaning up DeFi, staking, or perpetuals data. If you value your time, Awaken actually ends up cheaper overall.
If you want, you can see our full pricing breakdown here.
👉 Verdict: Koinly wins for light users who care only about price. Awaken wins for serious on-chain users who care about their time and accuracy.
Switch to Awaken Today!
Get $50 off your first year when you switch from Koinly
Limited time offer • Upload a receipt from Koinly and get $50 off
4. Automation
This is where Awaken shines.
We don't just import your transactions — we categorize, reconcile, and clean them automatically. That means:
- No more endless CSV editing.
- No more trying to guess what a DeFi pool interaction was.
- No more headaches connecting staking, perpetuals, or NFT trades.
Because we live on-chain ourselves — we trade, farm, stake, and use DeFi every day — we know what needs to be automated. And we're constantly adding new integrations and automations to handle the latest protocols.
The result? For heavy on-chain users, Awaken can save you hundreds of hours every tax season. And if you use high throughput chains like Base, Solana, or Hyperliquid, you'll save even more.
👉 Winner: Awaken.
5. Accuracy & Quality
Awaken's philosophy is simple: quality over quantity.
We're built for the future of on-chain finance: DeFi, perpetuals, NFTs, and staking. Instead of just dumping integrations, we focus on accuracy, reconciliation, and real support when things get tricky.
Koinly works if your activity is simple. But if you actually care about reporting correctly, and not overpaying taxes, you'll want Awaken in your corner.
👉 Winner: Awaken.
Final Verdict
- Customer Service: Awaken 🏆
- Community & Trust: Awaken 🏆
- Pricing: Tie — Koinly wins for small/light users, Awaken wins for heavy/complex users
- Integrations: Koinly 🏆
- Automation: Awaken 🏆
- Accuracy & Quality: Awaken 🏆
💡 Bottom line: Koinly is cheaper and integrates widely. But Awaken is the product trusted by Crypto Twitter and top companies. If you care about saving time and getting your crypto taxes right, Awaken is the clear winner.
Final Verdict: Awaken is the best crypto tax software
Now, you may think we are biased. But we promise, if you try our product you'll quickly see what we are talking about. And if you have problems, we are just a message away.
While Koinly was once a pioneer in crypto tax software, it hasn't kept up with the rapidly evolving DeFi landscape. Awaken was built from the ground up to handle modern crypto complexity while providing a superior user experience.
With better features, lower pricing, superior support, and a modern interface, Awaken is the clear choice for anyone serious about crypto taxes in 2024 and beyond.
