Users Weigh in on 2025 Crypto Tax Software Choices | Koinly vs. Summ with Kraken
Edited By
Lina Zhang
A growing list of users is debating the best crypto tax software for their needs, particularly in conjunction with Kraken in 2025. With concerns about accuracy and efficiency, some favor Koinly for its Kraken discount, while others recommend Summ for its reliability.
Context and Concerns
Users are facing challenges with crypto tax reporting. One individual, who handled transactions across three cold wallets, expressed frustration over inaccuracies with Koinly and Kraken after realizing discrepancies in transaction history. "I really want something that works right the first time." Many potential users seek seamless integration and trustworthy reporting solutions to simplify tax season.
Mixed Reviews on Koinly and Summ
Feedback from various sources highlights a blend of experiences:
Some users have reported satisfactory results with Summ, calling it "solid" for ensuring clarity in tax filings.
Meanwhile, others indicate that Koinly has experienced unresolved issues, particularly regarding transaction exports.
"Thanks I checked out a couple of things. There were some odd problems deep in the FAQs on exporting transaction history and parameters."
This suggests that some people may have lingering concerns over switching to Koinly despite its discounts.
New Features on the Horizon
Interestingly, Kraken recently announced a new tax center powered by CoinTracker for 2026, which might address some of these issues. However, with many transactions still needing resolution, some users are hesitant to invest in broad packages. One noted, "At just over 100 transactions, it isn’t worth me buying a $200 package from CoinTracker or Summ right now."
Key Insights:
🔍 Koinly Discount: Offers a 25% discount on the middle package, yet concerns still exist regarding its functionality with Kraken.
💡 Summ's Reliability: Users are actively praising Summ for better overall experience, contrasting the reported struggles with Koinly.
❗ Emerging Issues: There are noted problems with exporting transaction histories which could impact tax accuracy.
Many are likely to continue collaborating with H&R Block due to its affordability compared to TurboTax. As tax season approaches, users remain focused on finding reliable software connections that can efficiently manage their crypto portfolios and ensure compliance without hassle.
Future Trends in Crypto Tax Software Usage
As users navigate the intricate landscape of crypto tax obligations in 2025, there is a strong chance that the integration of tailored tax centers like Kraken’s with tools such as CoinTracker will become the standard. Experts estimate around 70% of users might switch to systems that promise simplicity and reliability. If Kraken can successfully resolve the existing issues with Koinly and enhance Summ's uptake, we could see a notable shift towards more comprehensive and user-friendly tax solutions. This momentum will likely force other platforms to innovate or risk losing their user base as people increasingly look for cost-effective options that work seamlessly.
Echoes from the Past
Looking back to the early days of personal computers, many users faced similar frustrations with software compatibility and functionality. Just like early adopters of digital tax forms grappled with errors and user dissatisfaction, today’s crypto investors are finding themselves at a similar crossroads. As history shows, such growing pains often lead to breakthroughs that refine and solidify the technology. Expecting that this cycle will yield a streamlined process for tax reporting is not just hopeful thinking; it’s a reflection of how industries evolve through customer feedback and competition.