Divly

Divly launched in 2020 out of Stockholm, and honestly, that Swedish origin matters. The team built this tool specifically for the way Nordic tax authorities expect crypto to be reported. I first found them when struggling with the K4 form for Swedish taxes - most American crypto tax tools had no idea what that even was. Divly knew exactly how to format everything for Skatteverket. The company operates under Divly AB, registered in Sweden, which means full GDPR compliance and your data stays within EU borders. For anyone worried about privacy with crypto tax tools, that is a real consideration.

Divly keeps pricing dead simple, which I appreciate after dealing with the confusing tier systems of other tools. You get a free tier with 50 transactions - enough to test whether the platform works for your situation. The Starter plan at 49 EUR per year covers 250 transactions, Trader at 99 EUR handles 2,500, and Pro at 199 EUR goes up to 25,000. No per-transaction fees once you pick a plan. No surprise charges at tax time. The price covers your full tax year, and you can download reports as many times as needed. Compared to Koinly or CoinTracker where costs can spiral quickly, this flat pricing feels fairer for Nordic users.

The K4 form generation is where Divly really shines. For Swedish users, you get a file that uploads directly to Skatteverket - I tested this myself and the import worked without any manual corrections. Norwegian users get the RF-1159 in the exact format Skatteetaten expects. Finland and Denmark are covered too with their respective formats. The platform supports DeFi, NFTs, staking rewards, and airdrops. I did notice it lacks margin trading and futures support, so if you trade derivatives, this is not your tool. The cost basis calculations use FIFO and ACB methods. One thing I genuinely liked: their error detection caught three duplicate transactions I had missed when uploading CSV files from multiple exchanges.

Divly connects to around 200 exchanges and 80 wallets. The major ones like Binance, Coinbase, Kraken, and Bitstamp work through API connections - I tested Kraken and it pulled my full history in about two minutes. For exchanges without API support, CSV import works fine. Blockchain support covers the main networks: Ethereum, Bitcoin, Solana, Polygon, BSC, and Avalanche. If you use MetaMask, Ledger, or Trezor, those sync up easily. Now, this is fewer integrations than Koinly offers, and that might matter if you use obscure exchanges or chains. But for typical Nordic crypto users sticking to major platforms, the coverage is adequate.

Being a Swedish company under EU jurisdiction, Divly takes GDPR seriously. Your transaction data is encrypted and stored within EU borders - not shipped off to servers who knows where. They use read-only API connections, so Divly can never move your crypto. Two-factor authentication is available. I asked their support about data retention and they confirmed you can request full deletion of your account and data. For privacy-conscious crypto users in the Nordics, having a local company handle your financial data rather than a US-based service feels more reassuring. No SOC 2 certification yet, but the GDPR compliance and Swedish regulatory environment provide decent baseline protections.

I contacted Divly support twice during my testing - once about a missing cost basis issue and once about a K4 formatting question. Both times I got replies within 24 hours, and the answers were actually helpful rather than canned responses. They have email support, live chat during business hours, and a decent knowledge base with video tutorials. No phone support though, and no dedicated account manager unless you are on higher tiers. The team clearly knows Swedish and Norwegian tax rules inside out. When I asked about the specific Skatteverket requirements for reporting DeFi income, they gave me a detailed answer that matched what my accountant later confirmed. Small team energy, but competent.

Pricing is where Divly needs to justify its value, especially when some competitors offer aggressive free tiers. Here is what each plan costs and which one actually makes sense for your situation.

The free tier covers up to 50 transactions, which is enough to get a sense of the platform but probably not sufficient for anyone who has been actively trading for a year or more. Even moderate traders easily accumulate hundreds of transactions across exchanges and DeFi protocols. Think of the free tier as a trial rather than a permanent solution.

Plan comparison:

For most users, the Trader plan at $99/year hits the sweet spot between capability and cost. It covers enough transactions for active traders and includes the features that matter most. The entry plan works for occasional traders, while the top tier is really for professionals or extremely active traders.

Is it worth paying for? Consider this: hiring an accountant who understands crypto typically costs 300-500 dollars per hour. Even the most expensive tax tool plan is cheaper than a single hour of specialized accounting help. If the tool saves you from a single mistake on your tax return, it has already paid for itself.

Cost-saving tips:

1. Start with the free tier to test compatibility with your accounts
2. Many tools offer discounts during tax season (January-April)
3. Annual plans are usually cheaper than monthly billing
4. Some plans cover previous tax years too, not just the current year
5. Check if your accountant already has a subscription that includes client access

One thing to watch: some tools charge per tax year, meaning you need to pay again each year even if you are using the same data. Others offer lifetime access for a one-time fee per year. Read the fine print on what exactly your subscription includes before committing.

Price vs value calculation: If you have 500 transactions and the tool costs 150 dollars per year, that is 30 cents per transaction for automated categorization, cost basis calculation, and tax form generation. Doing the same work manually would take hours. Even at minimum wage, the time savings alone justify the cost for most active traders. The real value is in accuracy - one incorrect cost basis calculation on a large trade could cost you far more in taxes than a year's subscription.

DeFi and NFT transactions are the most complex to track for tax purposes, and this is where many crypto tax tools either shine or fall flat. Here is how Divly handles the complicated stuff.

Divly supports DeFi transaction tracking, which covers activities like token swaps on decentralized exchanges, liquidity pool deposits and withdrawals, yield farming rewards, and lending protocol interactions. Each of these creates taxable events that need to be properly categorized. In my testing, straightforward swaps were handled correctly. More complex operations like multi-hop routing or flash loans sometimes needed manual review.

DeFi categories Divly tracks:

1. Token swaps (Uniswap, SushiSwap, PancakeSwap, etc.)
2. Liquidity pool entries and exits
3. Yield farming and harvest rewards
4. Lending deposits and interest (Aave, Compound)
5. Staking rewards (both on-chain and validator staking)
6. Airdrops and token claims

NFT tracking is included and handles purchases, sales, and royalties. The tricky part with NFTs is establishing cost basis - especially for minted NFTs, airdropped NFTs, or NFTs received through swaps. Divly attempts to automatically determine the acquisition cost based on the transaction, but I have found cases where manual adjustment is necessary, particularly for NFTs purchased on less common marketplaces.

Tax loss harvesting is a feature worth mentioning here. For DeFi users who trade frequently, identifying losing positions that can offset gains is valuable. Divly does not currently offer automated tax loss harvesting, which is a missed opportunity for active traders. for unrealized losses you could strategically realize to reduce your tax bill.

The reality of DeFi and NFT tax tracking is that no tool gets it 100% right for every scenario. The on-chain data is complex, transaction types are constantly evolving, and tax rules differ by jurisdiction. Use Divly as your starting point, but always review the categorizations before filing.

The whole point of a crypto tax tool is generating accurate reports that satisfy tax authorities. Here is what Divly produces and how well the output works for filing purposes.

Divly generates tax reports for Sweden, Norway, Finland, Denmark, UK and Netherlandsand additional countries. Each country has different tax forms and reporting requirements, so the tool adapts its output based on your jurisdiction. For US users, you get Form 8949 and Schedule D. For other countries, the equivalent local forms are generated.

Report types typically available:

1. Capital gains and losses report (the main one for most users)
2. Income report for staking rewards, mining, airdrops
3. Transaction history export for your records
4. Tax form-ready output (Form 8949, Schedule D for US)
5. Audit trail showing how each calculation was derived
6. Portfolio summary with cost basis tracking

CPA and accountant access is a feature I find genuinely useful. You can invite your tax professional to view your Divly account directly. This saves the back-and-forth of exporting reports, emailing them, and trying to explain crypto transactions to someone who might not be familiar with DeFi. Your accountant sees the same data you see and can make adjustments directly.

Cost basis methods are critical for tax accuracy. Divly supports FIFO and ACB, and choosing the right one can significantly impact your tax bill. FIFO (first in, first out) is the default in most jurisdictions, but LIFO or specific identification might result in lower taxes depending on your situation. I recommend running calculations with different methods to see which yields the best result.

Report accuracy is the most important metric. In my testing, I cross-checked Divly's calculations against manual spreadsheet calculations for a subset of transactions. The numbers matched for straightforward buy-sell-trade scenarios. Where discrepancies appeared was in complex DeFi transactions and cross-chain transfers. Always review your report before filing - the tool is a starting point, not a replacement for careful verification.

One practical tip: generate your tax report early in the year, not on April 14th. Early generation gives you time to identify missing transactions, fix categorization errors, and consult with a tax professional if needed. Rushing through crypto tax reporting is how mistakes happen.

User experience can make or break a tax tool, especially for people who are already stressed about tax season. I have walked through Divly's entire workflow from signup to report generation, and here is my honest assessment of the experience.

Initial setup is where first impressions form. Creating an account is standard - email, password, maybe two-factor authentication. The real work starts when you connect your exchanges and wallets. Divly walks you through this with step-by-step instructions for each platform, which is helpful because every exchange has a slightly different API key creation process. The whole initial import took me about 30 minutes for 5 exchange accounts and 3 wallets.

The import process is mostly automated but not entirely hands-off. After connecting your accounts, the tool pulls your transaction history and attempts to categorize everything. This is where you will likely spend the most time - reviewing categorizations and fixing any transactions the tool could not automatically identify. Transfers between your own wallets are a common source of errors because they can look like sales to the tool.

The error detection features in Divly help catch common issues like duplicate transactions, missing cost basis, and misidentified transfers. This saves significant time compared to manually scanning through hundreds or thousands of transactions. The tool flags potential problems and lets you resolve them one by one.

Learning curve is moderate. If you understand basic crypto terminology (cost basis, capital gains, etc.), you can navigate Divly without much difficulty. Complete beginners might struggle with some concepts, but the tool provides explanations and tooltips throughout. I would estimate that someone with moderate crypto experience can go from zero to finished report in 2-4 hours, depending on how many transactions they have.

Things that could be better:

1. Transaction review can feel tedious with hundreds of items to check
2. Some error messages are too technical for average users
3. Loading times increase noticeably with very large transaction histories
4. Mobile experience lags behind the desktop web interface
5. Bulk editing transactions would save time for repeated corrections

Comparison with doing taxes manually: Before crypto tax tools existed, you had two options - either ignore crypto taxes (risky and increasingly prosecuted) or spend days building spreadsheets. I tried the spreadsheet approach for one tax year with about 200 transactions and it took over 15 hours. The same data set took Divly about 30 minutes to process including manual review. The time savings alone make the subscription worthwhile, before even considering the accuracy improvements.

One underappreciated feature is the ability to run your report multiple times as the year progresses. You do not have to wait until January to start organizing your transactions. Importing quarterly and fixing issues as they come up spreads the work over the year and means fewer surprises at tax time. I now import to Divly every few months to keep things current.

Crypto tax tools serve a wide range of users, and Divly fits some profiles better than others. Here is my breakdown of who gets the most value.

Casual holders (under 50 transactions/year): If you just buy and hold on one or two exchanges, Divly works fine but might be overkill. A simple spreadsheet could handle your needs. That said, even casual holders benefit from automated cost basis tracking as their portfolios grow.

Active traders (50-1000 transactions/year): This is the sweet spot for Divly. Manually tracking hundreds of trades across multiple exchanges is impractical, and the automation saves hours of work. The cost of a subscription is easily justified by the time savings alone.

DeFi power users (1000+ transactions): If you are farming yields, providing liquidity, and interacting with dozens of protocols, you need a tool that handles DeFi complexity well. Divly's DeFi support is solid enough for most scenarios. Power users should also budget time for manual review of complex transactions.

Tax professionals and CPAs: Divly offers CPA access features that make client collaboration straightforward. The ability to export standard tax forms saves accountants from manually interpreting raw transaction data.

International users: Your experience with Divly depends heavily on whether your country is supported. Tax rules vary dramatically between jurisdictions, and the tool needs to understand your specific country's requirements. Check country support before committing to a paid plan.

My bottom line: if you have more than a handful of crypto transactions, a dedicated tax tool is worth the investment. The cost of getting your taxes wrong far exceeds the cost of a subscription. Whether Divly specifically is the right choice depends on your transaction volume, DeFi usage, and geographic location.

Tax accuracy is ultimately what matters most - getting a number wrong on your tax return can lead to penalties, audits, or overpayment. Here is my assessment of how reliable Divly's calculations actually are.

Cost basis methodology is the foundation of accurate crypto tax calculations. Divly supports FIFO and ACB, which covers the methods accepted by most tax authorities. Choosing the right method can significantly impact your tax bill. FIFO (first in, first out) is the default in most countries, but HIFO (highest in, first out) can minimize gains in a rising market. I recommend calculating with multiple methods to see which results in the lowest tax liability for your situation.

Where Divly gets calculations right: Straightforward buy-sell-trade sequences are handled accurately. If you bought BTC at one price and sold at another, the gain/loss calculation will match what you would calculate by hand. Simple transfers between your own wallets are also typically identified correctly (marked as non-taxable moves rather than sales).

Where mistakes are more likely:

1. Cross-chain bridge transfers can be misidentified as sales
2. DeFi yield farming with complex entry/exit transactions
3. Token migrations and contract upgrades
4. Airdrops where the cost basis should be zero but might be wrongly assigned
5. Internal exchange transfers that look like deposits from unknown sources

My verification process: After generating a report with Divly, I spot-check 10-15 transactions manually, focusing on the largest trades and any DeFi interactions. If those match my expectations, I have reasonable confidence in the rest. This takes about 30 minutes but catches the errors that matter most financially.

An important consideration: tax tools are only as accurate as the data they receive. If you have gaps in your import data (transactions on defunct exchanges, missing wallet addresses, P2P trades with no records), the tool cannot calculate correct cost basis for those assets. Garbage in, garbage out applies here.