Koinly Comparison
A Koinly Alternative for Year-Round Portfolio Tracking
Koinly reconstructs transactions for cost basis and tax reports. UpdraftFi follows what you own now, what your DeFi positions actually earn, and how your complete wealth changes every day.
| Feature | UpdraftFi | Koinly |
|---|---|---|
| Primary focus | Year-round portfolio + net worth | Transaction ledger + tax reporting |
| Best for | Current positions, yield, and wealth history | Cost basis and tax forms |
| Pricing | $19 / $49 per month after trial | $49-$199+ per tax year |
| Free access | 7-day trial | 10K transactions; no report downloads |
| Integration breadth | Focused wallets and exchanges | 800+ integrations |
| Multiple wallets | Yes | Yes |
| DeFi coverage | Current positions + yield | Transactions + taxable income |
| Realized yield from snapshots | Supported positions | No dedicated realized APY |
| Long-term daily snapshots | Paid plans | Portfolio growth + P&L |
| Traditional assets | Yes | No |
| Balance privacy model | Zero-knowledge encrypted | Server-side security controls |
| Downloadable tax reports | No | Yes |
Koinly is the stronger tax tool. UpdraftFi is the stronger fit when the job is ongoing portfolio measurement, DeFi yield, privacy, and net worth beyond crypto.
What Koinly does well
Koinly does both tax reporting and portfolio tracking. It imports transactions from wallets and exchanges, classifies them, matches transfers, calculates gains and crypto income, and generates country-specific tax reports. If your main goal is preparing records for a tax authority or accountant, Koinly is purpose-built for it.
Its integration coverage is a major strength. Koinly's help center advertises more than 800 integrations and supports unlimited wallets and exchange accounts. Its free access allows up to 10,000 imported transactions, portfolio tracking, gains previews, and a tax summary; downloadable tax reports require a paid plan.
Koinly also provides realized and unrealized gains, invested fiat, NFT and DeFi transaction support, historical spot prices, and portfolio growth views. It is more than a once-a-year form generator, but its data model remains centered on transaction history and tax calculations.
Why choose UpdraftFi as a Koinly alternative?
Start with current positions, not the tax ledger
UpdraftFi's daily job is to show what your wallets, exchanges, tokens, NFTs, lending positions, liquidity pools, vaults, and perpetual positions are worth now—and preserve that view as a historical snapshot.
Measure DeFi yield from your own history
Koinly identifies staking, lending, and DeFi income for tax purposes. UpdraftFi instead compares your snapshots to separate market movement from position yield, showing cumulative yield and realized APR for supported positions over time.
See crypto as part of total wealth
UpdraftFi combines EVM wallets, native Bitcoin, Solana, and supported exchanges with manually entered cash, investments, property, vehicles, businesses, and liabilities. Your crypto portfolio and complete net worth share one timeline.
Keep balance history unreadable to us
UpdraftFi encrypts balance snapshots and backups with keys derived from your passphrase. Operational data needed for automatic fetching is encrypted separately, but we cannot read the financial history stored inside your encrypted snapshots.
Privacy architecture
This is where the tools differ most. Here's exactly what each approach means:
| Data | UpdraftFi | Koinly |
|---|---|---|
| Balance snapshots | Zero-knowledge (we cannot decrypt) | No zero-knowledge claim documented |
| API keys | Server-side encrypted | AES-256-GCM encrypted |
| Wallet addresses | Server-side encrypted | Server-side; encryption not specified |
We're honest about the trade-off: we need to decrypt your API keys to auto-fetch data. But your actual balances, the numbers that matter, are encrypted with keys derived from your passphrase. We can't see your net worth even if we wanted to.
A note on Koinly's security model: Koinly reports SOC 2 and ISO 27001 certification and GDPR compliance. Its public security material does not describe a zero-knowledge model or claim that Koinly is technically unable to access portfolio data. That is a different privacy guarantee from UpdraftFi's encrypted balance snapshots.
Which tool is right for you?
Use Koinly if…
Your main goal is crypto tax reporting
You want a wide range of exchange integrations
Crypto-only tracking is fine
You only need the tool at tax time
Use UpdraftFi if…
You want current positions and daily portfolio history
You want realized DeFi yield from your own snapshots
You want encrypted balance history
You want crypto and total net worth in one timeline
The bottom line
Koinly is a tax-first crypto tracker with a solid free portfolio view. UpdraftFi is the better fit for people who want to monitor current positions, realized yield, encrypted portfolio history, and total wealth throughout the year.
If you need transaction reconciliation, cost basis, and tax forms, use Koinly. If you want to understand what you own now and what it is earning across crypto and the rest of your assets, that's what UpdraftFi is built for.
Frequently Asked Questions
Sources: Koinly portfolio tracker, Koinly pricing, Koinly integration coverage, Koinly security, and UpdraftFi product documentation. Last reviewed August 2026.
