Cointelli is an all-in-one crypto portfolio management and tax reporting solution that's simple to use and good for beginners. It allows users to keep track of their crypto activities across a wide array of exchanges and wallets at a relatively low cost.
However, Cointelli is missing important features and falls behind the competition in several key respects, including its integrations, geographic limitations, and pricing. If you have more than $1,000 worth of crypto tax activity to report, I highly recommend using Koinly instead.
What Is Cointelli?
Cointelli is a crypto tax reporting tool that was built to make filing your taxes with cryptocurrencies easier. It accomplishes this by providing an automated tax software platform that combines your entire cryptocurrency portfolio and generates automated tax reports following US law. These reports have been designed and prepared by qualified, certified public accountants (CPAs) who are familiar with the IRS's requirements.
Cointelli can keep track of and distinguish between all of your crypto operations (for example, staking, swapping, airdrops, yield farming, mining, trading), as well as report them correctly and accurately.
Cointelli Features
1. Wide Array Of Integration Possibilities
Over 41 exchanges, 49 crypto wallets, 14 blockchains, and 4 crypto services can all be integrated with Cointelli. All you have to do is give Cointelli read-only API access to the relevant platforms, and it will generate tax reports that your accountant can use without fear of being audited by the IRS.
Using Cointelli, you may track all of your past and future activities, which will be recorded automatically. When compared to updating a spreadsheet manually, reporting crypto taxes is a breeze using Cointelli.
2. Multiple Tax Report Types
Cointelli also offers a variety of tax report types, many of which are in line with US law. The app can create the following tax reports for you:
| Report Type | Description |
| Schedule D | It will show you whether the transactions you made were short-term or long-term, as well as whether they generated gains or losses. Furthermore, the report displays your crypto cost base and calculates your profits from liquidating your crypto holdings. Cointelli can produce this type of report automatically. |
| Audit Trail | This type of report allows you to highlight and then change any parts of your cryptocurrency tax reports as needed. It's primarily used to decrease the chance of filing taxes incorrectly, which could be brought to the IRS's attention if it were to happen. |
| Income | This is yet another form that Cointelli can generate for you automatically. It will show your entire cryptocurrency income-generating portfolio, including staking rewards, interest, forks, and airdrops, for instance. |
3. Cointelli Blog & Resources
Cointelli has an informative blog that covers a range of topics related to crypto taxes and current events, and it also has a resources section with a Help Center that will answer common questions about their platform, such as how it works and what type of reports it can generate.
Additionally, Cointelli has put together a few helpful resources, including an insanely thorough guide to crypto taxes in 2022 that will allow you to leave no stone unturned when it comes to your filing your crypto taxes.
4. Cointelli Customer Support
Cointelli has a great customer support team, which not only provides assistance via email and a chat widget but also provides 24/7 live customer support with expert tax advisors. This level of protection and support compares favorably to other services provided by comparable platforms, such as Koinly.
Cointelli has only been in operation since 2021, but its TrustPilot score of 4.7 speaks for itself. Apart from the quality of customer service, Cointelli is known for providing accurate and fast tax reports, according to Trustpilot reviews.
5. Cointelli Referral Program
Cointelli has a referral program, too. You may get 20% back on each person you invite to Cointelli with the help of this program. Each person you invite gets a 20% discount, and you earn a 20% commission.
There's no restriction on how many people you can refer to Cointelli, and how much money you may make from it. In fact, Cointelli will allow you to keep track of how much money you've earned through referrals in real-time. After 30 days have passed, you'll be able to withdraw your earnings.
Cointelli Pricing
Cointelli uses a straightforward pricing model: it charges users a single price and also provides different plans for free users and high-volume crypto businesses.
With the free Cointelli plan, you'll be able to integrate all of your exchanges, wallets, and crypto services. You'll also get access to all of Cointelli's educational resources, including their blog articles and crypto tax guide reviews, for free. The major disadvantage of this plan, however, is that you won't be able to create cryptocurrency tax reports automatically.
The Cointelli “Everyone Plan“, on the other hand, allows you to take advantage of all of Cointelli's features and services for a single fee of $49 per year. This applies to up to 100,000 crypto transactions at a time, and you won't be charged additional fees if your trading volume increases after you have paid during a given year. This isn't typically the case with comparable platforms that charge different rates depending on the number of transactions in your portfolio.
An “Enterprise Plan” with Cointelli's sales team can be obtained by any user or organization handling more than 100,000 transactions per year. This plan will be tailored to your specific needs and demands from the platform.
Cointelli's rates are reasonable when compared to other similar services, especially if your annual number of transactions goes past the 100,000 transaction mark.
Cointelli also provides a free sample of your tax report after you've imported and reviewed your transactions per the platform's instructions. You'll only be charged if you wish to download the tax report.
Is Cointelli Safe?
Cointelli has a team of specialists that have been trained to safeguard your data, as well as maintain your privacy and respond promptly to incident reports. The primary reason for this is the Cointelli Information Security Committee, which ensures that security awareness and initiatives are implemented throughout the company.
Cointelli encrypts data in transit and at rest to maintain the security of all of your operations. Cointelli's services are hosted on US-based AWS (Amazon Web Services) servers, but the servers reside within Cointelli's virtual private clouds (VPCs) to avoid unauthorized network access.
Cointelli also performs regular comprehensive back-ups to guarantee the highest level of security. Stripe, the company's payment processor, is one of the most secure and reputable names in the payments industry.
Furthermore, Amazon Cognito protects all Cointelli login credentials. When Amazon Cognito detects unusual sign-in activity, such as new locations and devices attempting to access accounts, it blocks the sign-in request and notifies the user of the attempt.
Cointelli hasn't reported any data breaches to date, which goes to show that the platform is doing a good job at keeping user information safe and secure.
Why I Recommend Koinly Over Cointelli
There are a few key reasons I recommend serious crypto investors use Koinly over Cointelli:
#1 Far More Integrations
At the time I write this, here are the number of integrations both Cointelli and Koinly currently support:
| Koinly | Cointelli | |
| Exchanges | 350+ | 41+ |
| Wallets | 50+ | 50+ |
| Blockchains | 6,000+ | 14+ |
| Crypto Services | 10+ | 4+ |
As you can see, these numbers aren't even close: Koinly blows Cointelli out of the water. This means that if you're not using a mainstream exchange (ie. one based in the United States), there's a good chance Cointelli won't be able to work for you at all.
This is a big deal for potential customers, and you'll need to be very careful that Cointelli will work for you before choosing them. With Koinly, you don't have that problem.
#2 More Transactions
Koinly offers a very generous 10,000 transactions with its free plan, plus unlimited wallet and exchange accounts. To get that many transactions with Cointelli, you need to pay, and going over 100,000 transactions requires an enterprise solution with custom (read: expensive) pricing. Granted, these limits won't impact most people, but for individuals or businesses doing a lot of micro-transactions, they could play a pivotal role in your decision.
#3 Better Pricing
Both Koinly and Cointelli offer a free plan, but Koinly offers much more with theirs. For example, free Koinly users can capitalize on smart transfer matching, get 6+ years of historical spot prices, work with 6,000+ cryptocurrencies, and more.
#4 Better Asset Tracking
One major feature crypto investors appreciate is the ability to track their entire portfolio—not just single assets in single accounts—over time. Koinly offers a great way to see your portfolio like this, but Cointelli does not, which makes it nearly impossible to use the tool to manage your portfolio at a high level.
This doesn't matter if you only hold Bitcoin in one account, but if you've got multiple assets that you purchased at multiple different times across multiple different accounts, you're going to be much better off with Koinly, where you can see your invested capital, your profit and loss to date, and your unrealized capital gains.
#5 Not Limited To The USA
Cointelli only works for users in the USA, so if you're not American, you can stop reading now. Koinly, on the other hand, works worldwide, and has integrations with hundreds of exchanges and other services around the world, including Canadian exchanges like VirgoCX, CoinSmart, Bitbuy, Shakepay, Newton and Wealthsimple Crypto.
For example, of the first 5 exchanges I searched in Canada, Koinly was integrated with all of them. Cointelli, on the other hand, doesn't work with any of them.
In Summary
Cointelli is an all-in-one crypto portfolio management and tax reporting solution that's simple to use and good for beginners. It allows users to keep track of their crypto activities across a wide array of exchanges and wallets at a relatively low cost.
However, Cointelli is missing important features and falls behind the competition in several key respects, including in its integrations, geographic limitations, and pricing. If you've got more than $1,000 worth of crypto tax activity to report, I highly recommend using Koinly instead.
Cointelli Review FAQs
Is Cointelli Accurate?
Cointelli's API integrations are quite precise. However, be aware that the platform is only as accurate as the data it receives. Therefore, if you don't include all of your crypto transactions and portfolios, it won't give you an accurate cryptocurrency tax report.
Is Cointelli Free?
Cointelli does offer a free plan that grants you access to its educational resources and allows you to integrate all of your exchanges, wallets, and crypto services. However, you can't create crypto tax reports using this plan.
Can I Avoid Filing Crypto Taxes?
No, you can’t avoid filing your crypto taxes. The U.S. government has made it clear that you need to pay taxes on your cryptocurrency gains. However, Cointelli can help make this process easier by automating the entire tax calculation and report filing process.
Can An Accountant Use Cointelli For Me?
No, mainly because Cointelli wants the user to have ultimate control of their account. You are, however, able to have your reports automatically sent to your accountant. Besides, considering how easy and simple Cointelli is to use, you don't need an accountant to generate your crypto tax reports.
