Blockchain & Digital Assets
Koinly Implementation & Integration.
Best Practicify configures Koinly for individuals, business owners, and cryptocurrency investors with complex multi-exchange portfolios — connecting wallets and exchange accounts, classifying DeFi, staking, and NFT transactions, and generating the Form 8949 and Schedule D output that CPAs can use without spending weeks reconstructing transaction history from raw exchange CSVs.
What We Deliver
Best Practicify's Koinly Capabilities.
Wallet and exchange connection — API sync and CSV import for 300+ exchanges including Coinbase, Binance, Kraken, Gemini, and Kraken, with on-chain wallet address import for Bitcoin, Ethereum, Solana, and 50+ additional blockchains
DeFi transaction classification — automatic identification and categorization of liquidity provision, yield farming rewards, staking income, lending and borrowing events, and bridge transactions across supported DeFi protocols
NFT transaction accounting — purchase, sale, royalty receipt, and minting event cost basis tracking with marketplace fee segregation for collectors and creators with significant NFT activity
Cost basis method configuration — FIFO, LIFO, HIFO, and Specific ID methods applied per exchange or per account, with jurisdiction-specific defaults for US, UK, Australian, and Canadian tax requirements
CPA mode and accountant dashboard — multi-client portfolio management with bulk transaction review, approval workflows, and client-ready report generation for accounting firms serving digital asset clients
Tax report generation — Form 8949, Schedule D, TurboTax and H&R Block import files, and international tax reports with reconciliation to exchange-provided 1099-DA data where available
Who This Is For
Is Koinly the Right Platform for Your Business?
Individual cryptocurrency investors with activity across multiple exchanges and wallets whose annual tax filing requires accurate cost basis reconstruction across thousands of transactions
Business owners and high-income individuals whose cryptocurrency activity — trading, staking, DeFi participation, or NFT sales — creates a complex tax position that generic tax software handles incorrectly
CPAs and tax practitioners serving digital asset clients who need a platform that organizes client transaction history and generates review-ready tax output rather than requiring manual transaction reconstruction
Investors with historical non-compliance — prior years of crypto activity not properly reported — who need accurate cost basis reconstruction before voluntary disclosure or amended return filing
Submit a Project Inquiry
Start Your Koinly Engagement.
Tell us about your project — current system, what needs to change, and your timeline. We respond within 1 business day with a direct answer, not a boilerplate proposal.
About Koinly
What You Should Know About Koinly.
Koinly is the most widely used cryptocurrency tax software globally — with over 700,000 users across 20+ countries and support for 300+ exchanges, 10,000+ cryptocurrencies, and the full spectrum of DeFi, staking, NFT, and cross-chain transaction types that make crypto tax compliance genuinely complex. Its combination of breadth — connecting virtually every exchange and blockchain — and depth — classifying DeFi interactions that simpler tools misidentify as taxable disposals — makes it the platform Best Practicify reaches for first when organizing a client's digital asset tax history.
The most common mistake in cryptocurrency tax reporting is not intentional underreporting — it is incorrect transaction classification. Liquidity pool deposits classified as taxable swaps. Staking rewards recorded at wrong income dates. NFT minting costs not captured in cost basis. Bridge transactions creating phantom disposals that inflate reported gains. Each of these errors can be correct, plausible-looking, and wrong — and each produces a tax return that overstates or understates income by amounts that accumulate significantly over multiple years of active DeFi and NFT participation. Koinly's classification engine addresses the most common errors automatically; Best Practicify reviews the residual classification decisions that require practitioner judgment.
Best Practicify has more than ten years of production experience in cryptocurrency accounting — a track record that predates most advisory firms' awareness of digital assets as an accounting category. That depth means Koinly configuration is informed by the specific transaction patterns that create problems at the IRS examination stage: wash sale analysis, hard fork income treatment, mining income reporting, and the interaction between staking rewards received and cost basis assigned. We configure Koinly to produce output that a CPA can sign with confidence rather than output that passes casual review but contains the classification errors most practitioners miss.
A Koinly engagement begins with a transaction completeness audit — confirming that every exchange, wallet, and protocol with activity is connected and every year of history is loaded before the first tax report is generated. Gaps in transaction history produce incorrect cost basis regardless of how accurately the visible transactions are classified. Best Practicify identifies the gaps, resolves them with available source data, and documents the resolution methodology for the CPA coordinating the filing.
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Schedule a 45-minute advisory session — we review your current setup, identify gaps, and give you a clear picture of what implementation or optimization would require and return.