Bitcoin-only privacy-first tax calculator versus cloud-based multi-crypto solution. Direct comparison.
Choose Sovereign Tax if: You hold Bitcoin only, value privacy above all else, want to optimize your tax bill with Specific ID, and prefer a one-time purchase over a subscription. You want your tax data encrypted on your device — not on Koinly's servers.
Choose Koinly if: You trade 10,000+ different cryptocurrencies, need international tax reports (20+ countries), want automatic exchange API sync, or use a mobile app. You're okay with storing sensitive tax data in the cloud.
| Feature | Sovereign Tax | Koinly |
|---|---|---|
| Price | ✓From $59 once | $49–$279/year |
| Data Storage | ✓Your device only | Koinly's servers |
| Account Required | ✓No — no accounts | ✕Yes, required |
| Specific ID Optimization | ✓One-click optimize | ✕FIFO only |
| Per-Wallet Cost Basis | ✓2025 IRS rules | Partial support |
| Charitable Donations | ✓+ Form 8283 | ✕Not tracked |
| Form 8949 Export | ✓PDF, CSV, TXF | ✓PDF, CSV, TXF |
| TurboTax TXF Export | ✓Supported | ✓Supported |
| Works Offline | ✓No internet needed | ✕Cloud-dependent |
| Source Code Visible | ✓On GitHub | ✕Proprietary |
| Encryption | ✓AES-256-GCM | TLS in transit |
| Multi-Crypto Support | ✕Bitcoin only | ✓10,000+ tokens |
| International Reports | ✕US only | ✓20+ countries |
| Exchange API Auto-Sync | ✕CSV import | ✓API integration |
| Mobile App | ✕Desktop only | ✓iOS & Android |
| Data Breach Risk | ✓No cloud data (local-only) | Cloud-dependent |
| 5-Year Total Cost | ✓$59 one-time | $845+ (5 years) |
Your transaction history never leaves your computer. No cloud servers, no account sign-up, no email required. Your tax data is yours.
AES-256-GCM encryption at rest. Even if someone stole your laptop, your encrypted tax data is worthless without your PIN.
See exactly how your data is encrypted and processed. No back doors, no telemetry, no tracking.
Automatically select the most tax-efficient lots from your purchases. May save hundreds (or thousands) per year by choosing long-term gains over short-term.
Full compliance with 2025 IRS Treasury Regulation §1.1012-1(j). Koinly doesn't currently offer per-wallet tracking -- Sovereign Tax supports it.
Pay $59 once (Early Adopter Sale), never pay again. No subscription renewal emails, no price increases, no hostage-taking. Compare to $245–$1,395 over 5 years with Koinly (as of early 2026).
Sovereign Tax was purpose-built for Bitcoin. Every feature — cost basis, lot assignment, charitable donations — is optimized for the way Bitcoiners actually trade. No bloat from supporting 10,000 altcoins.
No internet? No problem. Calculate your taxes without pinging a server. Useful for air-gapped security-conscious setups.
Track charitable donations separately with fair market value tracking. Generate Form 8283 CSV for substantial gifts. Koinly doesn't currently offer this.
Be fair — Koinly does some things better.
If you trade Ethereum, Solana, Dogecoin, or any altcoin, Koinly supports it. Sovereign Tax is Bitcoin-only.
Koinly can categorize yield farming, LP rewards, and other DeFi income. If you're deep in altcoin trading, you need this.
UK, Canada, Australia, EU, etc. Sovereign Tax is US-only. If you're not in the US, Koinly is the obvious choice.
Connect your Binance, Coinbase, Kraken account once. Koinly pulls your transactions automatically. No CSV exporting needed.
Log taxes on the go. Sovereign Tax is desktop only (macOS, Windows, Linux).
You're a Bitcoin-only holder or long-term hodler who:
You're a multi-crypto trader or international user who:
One-time purchase. No accounts. No subscriptions. Encrypted on your device.