How to import to Koinly from Electrum (Bitcoin lightning BTC)

Koinly Support
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Electrum2Koinly

Problem:

  • Koinly marks lightning channel opens/closes as sends/receives (you are being TRIPLE-TAXED on these!) There is a long-standing request to fix this.
  • Koinly ignores all lightning transactions when importing Electrum data from CSV since they have “zero” BTC balance change. This means these are not reported as they should be
  • If you use auto-sync/import, Koinly only sees on-chain transactions

Solution (short-term):

  • I wrote a script to fix this see https://github.com/cascadiarecovery/electrum_to_koinly
  • This script takes your original CSV export and makes a new one without the lightning channel opens/closes. It marks lightning transactions as on-chain transactions so they are included as normal.
  • 100% open source, lightweight and fast, look at the code yourself it’s very small!
  • 100% local only & private, your data is never sent anywhere
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