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For most Korean exchange users, Koinly is the best documented starting point because it explicitly lists South Korea, accepts API and CSV imports, and produces summarized and itemized reports. If your main account is Bithumb, CoinTracking has the clearest exchange-specific evidence because it publishes a Bithumb CSV import and tax-report workflow. CoinTracker is a practical option for portfolios spread across exchanges, hardware wallets and DeFi because it supports API, CSV, public-address, xPub and WalletConnect imports, although its published country table does not establish South Korea-specific tax forms.
There is no evidence of a universal winner or a verified direct API connection for every Korean exchange. Confirm your exact exchange, transaction types and report requirements before paying, then have the completed result reviewed by a Korean tax professional.
What Korean users need to prepare for
The National Tax Service (NTS) says an amendment to Korea’s Income Tax Act passed in December 2024 and postponed virtual-asset-income taxation by two years. Under the NTS guidance, transfers or lending of virtual assets are scheduled to be taxed as separate other income from January 1, 2027. Registered virtual-asset businesses must also submit transaction statements and aggregate reports for transactions from that date.
The guidance does not make a tax application automatically correct. Your software still has to identify acquisition cost, disposals, transfers between your own wallets, fees, staking receipts, airdrops and other income correctly. A complete historical record is therefore useful before the 2027 filing period, even if you do not owe tax under the postponed start date.
#1 Best Overall
What the software can and cannot decide
- Software can import records, match transfers, calculate gains and losses and produce reports.
- It cannot reliably infer whether two addresses belong to you, classify every staking or DeFi event under Korean rules, or replace professional tax advice.
- Keep the original exchange exports and a written record of assumptions. If an exchange later changes its download format, those files are your audit trail.
Which product fits which Korean exchange user?
| Software | Documented capabilities | Best fit | Important limitation |
|---|---|---|---|
| Koinly | South Korea is listed among supported countries; API auto-sync where an integration exists; CSV or Excel upload otherwise; FIFO, LIFO, HIFO or average-cost methods where applicable; summarized, itemized, asset-summary and wallet-balance reports. | Several exchanges and wallets that need a broad reconciliation workflow. | The cited documentation does not prove a direct API for every Korean exchange or provide a Korean filing form. |
| CoinTracking | Dedicated Bithumb guide: export Bithumb history as CSV, upload it, combine it with other sources, calculate gains and losses and generate a tax report. | Bithumb users comfortable exporting CSV files and correcting records manually. | The strongest evidence is for Bithumb CSV import, not universal Korean-exchange API coverage. |
| CoinTracker | API or sign-in sync, direct CSV import, public-address or xPub import and WalletConnect; recommends CSV when an exchange lacks a direct integration; reports for more than 100 countries are advertised for 2026, with general transaction and gains reports available when a country-specific form is not listed. | Mixed exchange, wallet and on-chain portfolios needing several ingestion methods. | The published country table does not establish South Korea-specific forms. |
Koinly: the broadest documented starting point
Koinly is the clearest first option when you use more than one Korean exchange or combine exchange accounts with personal wallets. Its country list explicitly includes South Korea, which is stronger evidence of regional availability than a generic “global” claim. That designation does not, by itself, mean that Koinly produces a form accepted by the NTS.
How Koinly imports data
- Open the exchange or wallet connection area and search for your exact exchange and account type.
- Use API auto-sync only when the integration is listed and the exchange allows the required read-only permissions. Never grant trading or withdrawal permissions for tax reporting.
- If the exchange is not available, export its complete CSV or Excel history and upload that file instead.
- Connect every account that held assets, including separate spot, margin, staking or sub-accounts where applicable.
- Run the reconciliation view and inspect deposits, withdrawals, internal transfers, fees and staking entries before generating reports.
Cost-basis controls and reports
The documented cost-calculation choices include FIFO, LIFO, HIFO and average cost basis where applicable. Select the method that your tax adviser confirms for your circumstances, and record the choice because changing it can change gains and losses. Koinly describes a complete report containing summarized and itemized activity, plus asset-summary and wallet-balance reports. The itemized view is particularly useful when an accountant needs to trace a disposal back to its acquisition.
Where Koinly needs verification
- Search the live integration directory for Upbit, Bithumb or your specific Korean platform; South Korea appearing on the country list is not proof that every exchange has an API.
- Check whether the connector imports deposits, withdrawals, fees, staking, airdrops and older records, rather than only trades.
- Confirm that the downloadable report contains the fields your Korean accountant expects. The cited documentation does not establish a Korea-specific filing form.
CoinTracking: strongest documented choice for Bithumb CSV
CoinTracking publishes a Bithumb-specific workflow, making it the most directly evidenced option when Bithumb is your principal exchange. The process is file-based: export Bithumb transaction history as CSV, upload it, combine it with other exchanges and wallets, calculate gains and losses and generate a tax report.
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- In Bithumb, request the fullest transaction-history export available, including trades, deposits, withdrawals and fees. Save the untouched file with the export date.
- Upload the CSV through CoinTracking’s import area and map columns if prompted.
- Add every other exchange and wallet separately. Do not treat a transfer from Bithumb to your own wallet as a sale.
- Review unmatched deposits and withdrawals. Match each movement to the receiving wallet or exchange and retain transaction IDs where available.
- Run the gains-and-losses calculation, select the cost-basis approach approved by your adviser and export the resulting report.
Who should choose it
CoinTracking suits a Bithumb user who is willing to work with CSV files and manually reconcile exceptions. It is also useful when you want one ledger containing multiple exchanges and wallets. The available evidence is narrower than Koinly’s country statement: it demonstrates Bithumb CSV handling, not an API connection for every Korean platform.
Rank #2
CoinTracker: flexible ingestion for mixed portfolios
CoinTracker documents several ways to bring in data: automatic API or sign-in synchronization, direct CSV upload, public-address or xPub import and WalletConnect. Its own guidance recommends CSV when an exchange is not available as a direct integration.
When its import choices help
- Exchange plus hardware wallet: use the exchange connector and import the wallet’s public address or xPub, keeping private keys offline.
- On-chain activity: use a public address or WalletConnect where supported, then inspect token transfers and contract interactions for incorrect classifications.
- Unsupported Korean exchange: export a CSV and import it instead of waiting for an API connector.
Country and form limitation
CoinTracker states that it calculates reports for more than 100 countries in 2026. Its country table distinguishes country-specific forms from general transaction and gains reports; users in an unlisted country can still download those general reports. The cited table does not establish a South Korea-specific form, so ask your accountant whether the general exports contain enough detail for a Korean return.
How to choose software for Upbit, Bithumb or another Korean exchange
1. Verify the exact connector before subscribing
Search the provider’s current integration directory using the exchange’s exact name and account product. “Exchange supported” may mean API, CSV, or only a limited product. If the directory does not clearly identify the method, ask support whether historical trades, deposits, withdrawals, fees and staking are included.
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2. Test a small export
Before importing years of activity, upload a short, representative period containing a trade, a deposit, a withdrawal and a fee. Compare transaction counts and balances with the exchange. A successful login does not prove that all event types were imported.
3. Check transfer matching
Transfers between your own exchange accounts and wallets should generally be matched as transfers rather than disposals. Unmatched withdrawals can create artificial gains, while unmatched deposits can create unexplained income. Review both sides of every large movement.
4. Check cost-basis assumptions
Confirm which method the software uses and whether you can change or document it. Koinly documents FIFO, LIFO, HIFO and average cost where applicable; do not assume that every platform offers the same controls or that every method is acceptable for your filing.
5. Inspect the report, not just the dashboard
- Itemized transactions with dates, assets, quantities and values.
- Gains and losses by disposal.
- Wallet and asset balances that can be reconciled to exchange statements.
- Separate visibility for fees, staking, airdrops and other income.
- An export your accountant can open and annotate.
Step-by-step preparation for Korea’s 2027 tax start
- Collect records now. Download complete CSV files from every Korean exchange, overseas exchange and wallet. Include years before 2027 so acquisition history is not lost.
- Preserve originals. Store untouched exports, account statements and a list of wallet addresses. Work from copies when cleaning data.
- Import in chronological order. Older acquisitions may determine the cost of assets sold later. Add all wallets before calculating gains.
- Reconcile balances. Compare the software’s ending balance for each asset and account with exchange statements and blockchain balances. Investigate every material difference.
- Classify special events. Review staking, airdrops, lending, wrapped assets, liquidity pools, NFT transactions and fees individually. Automated labels can be wrong when a protocol uses several token movements.
- Document assumptions. Record the cost-basis method, valuation currency, treatment of fees and explanations for unmatched transactions.
- Obtain professional review. Give a Korean tax professional the itemized ledger, source files and assumptions well before filing. Ask specifically whether the report reflects the NTS treatment of virtual-asset transfers or lending beginning January 1, 2027.
- Refresh before filing. Re-sync or import the latest period, check for duplicate API rows and export a final, dated copy.
Common failure modes and fixes
API connection exists but history is incomplete
Some connectors return only a limited look-back period or omit deposits and fees. Compare the first and last imported dates with the exchange’s own statement, then supplement the missing period with CSV files. Keep both sources so duplicates can be identified.
CSV columns are misread
Date formats, decimal separators, negative quantities and fee currencies can shift during import. Open the raw file, confirm the header mapping and verify several rows manually before accepting the full calculation.
Transfers appear as taxable sales
This usually means the receiving wallet was not connected or the transfer was not matched. Add the destination account, match the withdrawal to the deposit and check that network fees are represented separately.
Balances do not agree
Look for dust balances, staking sub-accounts, delisted assets, failed deposits, exchange conversions and duplicated imports. Reconcile by account and asset rather than relying only on a portfolio total.
The report is not a Korean form
A general gains report can still help an accountant, but it is not evidence that the software handles every Korean filing field. Export the transaction detail and ask the professional reviewer to map it to the applicable NTS treatment.
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Professional review is prudent when you used multiple exchanges, moved assets through self-custody wallets, earned staking or lending income, interacted with DeFi contracts, received airdrops, or have material unmatched transactions. A reviewer can test the software’s classifications against Korean rules and explain which records support each figure. Software is most valuable as a complete, inspectable ledger; it should not be treated as an automated legal conclusion.
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Pricing, support and purchase checks
The cited material does not establish current prices, transaction limits or support response times for any of the three products. Before purchasing, check the live plan page for the number of transactions included, historical-import limits, API refresh frequency, CSV support, export formats and refund terms. Ask support whether your exact Korean exchange and account type are covered and whether a Korean-specific filing output exists.
Decision guide
- Choose Koinly first if South Korea support, multiple wallets and a broad API-or-CSV workflow are your priorities, subject to verifying your exact exchange.
- Choose CoinTracking first if Bithumb CSV import is central and you are comfortable reviewing and correcting a file-based ledger.
- Choose CoinTracker first if your portfolio needs public-address, xPub or WalletConnect ingestion in addition to exchange APIs and CSV files, and a general report is acceptable to your accountant.
Whichever product you use, perform a test import, reconcile balances and retain the source records. Those controls matter more than a software brand when your filing depends on years of Korean exchange data.
Frequently Asked Questions
Can Koinly import Korean exchanges such as Upbit or Bithumb?
Koinly explicitly lists South Korea and supports API synchronization where an exchange integration exists, with CSV or Excel upload as the alternative. Its country listing does not prove that Upbit, Bithumb or every other Korean exchange has a current API connector, so check the live integration directory and test a sample export first.
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Yes. CoinTracking publishes a Bithumb-specific workflow that uses a Bithumb transaction-history CSV, combines it with other exchange and wallet data, calculates gains and losses and generates a tax report.
Is CoinTracker’s report a Korean tax filing form?
The cited CoinTracker country table does not establish a South Korea-specific form. CoinTracker says it supports reports for more than 100 countries in 2026 and allows users in unlisted countries to download general transaction and gains reports. Have a Korean tax professional confirm whether those exports meet your filing needs.
When does Korea’s virtual-asset tax rule take effect?
The National Tax Service says taxation of virtual-asset transfers or lending as separate other income is scheduled to begin on January 1, 2027, following a two-year postponement enacted in December 2024.
What records should I give a Korean crypto tax accountant?
Provide original exchange CSV exports, wallet addresses and statements, the software’s itemized transactions and gains report, balance-reconciliation notes, your cost-basis method and explanations for unmatched transfers, fees, staking, airdrops or lending activity.
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