Streamline Your Crypto Tax: Why Koinly API Integration Matters

Keeping track of cryptocurrency trades can get messy very quickly. One of the biggest challenges we see is when traders use wallets or exchanges that don’t link directly with Koinly.

For example, a recent client had trades split between her exchange and an offline wallet. Because the wallet didn’t sync with Koinly, she had to manually merge transactions, double-check transfers, and reconcile balances. What should have been automated turned into hours of frustrating admin work.

If you’re trading regularly, this problem doesn’t just cost you time, it drives up your accounting fees too. Every manual adjustment means more time spent cleaning up data before your tax return can be prepared.

Why API-Connected Platforms Make Life Easier

Not all crypto platforms are created equal. If you want a clean tax record with minimal stress:

• Choose wallets that integrate directly with Koinly so your balances and transactions flow in automatically.

• Stick to exchanges that support Koinly’s API connection, otherwise you’ll be stuck uploading CSVs and patching gaps manually.

• Keep cold storage for long-term holdings only. Hardware or offline wallets are best for security, but they’re not practical if you’re trading every day.

How API Integration Saves Money on Crypto Tax

When you connect your trading accounts to Koinly via API, you’re not just making things easier—you’re saving money:

• Better accuracy – Every trade, fee, and transfer is imported directly.

• Fewer errors – No mismatched CSVs or missing trades to reconcile.

• Lower accounting costs – Less time spent fixing records means a smaller accounting bill.

• ATO-ready records – A clear audit trail is invaluable if you’re ever reviewed.

Australian Exchanges & Wallets Compatible with Koinly

To cut down on admin, it’s best to use platforms already working well with Koinly. Some of the most widely used in Australia are:

Supported Exchanges

• CoinSpot – Simple to set up and API-ready.

• Swyftx – Popular for beginners, with Koinly integration.

• Binance Australia – High-volume exchange with strong API connections.

• Independent Reserve – API-supported, widely used for AUD trading.

• BTC Markets – Australian exchange with Koinly API support.

Supported Wallets

• Ledger Live (hardware wallet syncing supported)

• Exodus (API and CSV options)

• Trust Wallet (API connection available)

• Metamask (connects through Ethereum API)

Using these platforms means fewer headaches and cleaner reporting at tax time.

Frequently Asked Questions

1. My wallet isn’t on Koinly’s API list. What should I do?You can still upload CSV exports. It’s more work, but manageable if trading volumes are low. For active traders, we recommend switching to supported wallets.

2. Is connecting my exchange to Koinly safe?Yes. API connections are “read-only”, meaning they can’t move or withdraw your funds—they only pull transaction history.

3. Do I need to link my hardware wallet?Not always. Hardware wallets like Ledger are great for long-term storage. But if you’re actively trading, it’s smarter to use API-linked platforms.

4. How does this affect my tax bill?It doesn’t change what you owe, but it does reduce the time (and cost) of preparing your tax return. Cleaner data = faster lodgement.

5. What records does the ATO expect from crypto traders?The ATO requires details of every buy, sell, swap, and transfer. API integration ensures you don’t miss anything.

If you’re trading crypto in Australia, one of the best moves you can make is to use wallets and exchanges that link directly to Koinly. It keeps your records clean, reduces your accounting fees, and ensures you’re ATO-compliant.

👉 Want expert help with your crypto tax? Check out our dedicated Crypto Tax & Accounting services.

At The Tax Accountant, we help crypto traders take the pain out of tax reporting. If you’re tired of wrestling with mismatched records and manual uploads, we can set you up properly from day one.

👉 Book a consultation today and let us simplify your crypto tax.