"You have exceeded the total number of transactions allowed on your account"

Since yesterday, going on my Koinly dashboard shows the unfortunate red label that:

You have exceeded the total number of transactions allowed on your account. Please reduce your transaction count or purchase a tax plan to continue using Koinly. Your capital gains and dashboard are not being updated. Upgrade now

Basically, because of the number of transactions I have, Koinly is asking me to spend nearly $300 just to keep using the portfolio aggregator functionality of the service.

I am not a ‘pro’ trader by any means, I merely HODL and stake my coins. However, as many of these staked coins have daily transactions (of a few cents at a time), Koinly interprets that as me being a professional trader making many trades a day.

I understand, from a previous thread, that each transaction results in computation for Koinly’s backend, but this sort of cost seems unjustified. As mentioned elsewhere, a desktop app or something where I could use my own computer to do the processing would be ideal.

Either way, is there any legitimate way I can bring my transaction number back down, preferably without having to manually create a load of CSV files to aggregate my staking rewards in a custom wallet?

I basically just use Koinly for seeing the value of my holdings across multiple wallets.

I concur. Relatively new to Koinly and I’d say 90% of transactions are daily interest on coins.
Be interested to read this thread as it develops. Tax compliant tips on the above please!

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I would like some kind of annual flat fee for unlimited transactions. Or a lifetime membership option. But that’s just me :slight_smile:

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Hey @mish @fgfgfggwjogf @Jake-R :wave:

Thanks for voicing your issues in this thread, we hear you!

Koinly reports transactions as they appear on the blockchain, so unfortunately there is not a way for the system to automatically merge these small interest payments you receive.

There are a couple of ways you can reduce your transaction count in this type of scenario.

If you have multiple deposits taking place on the same day then you can merge these into a single deposit. The same applies to withdrawals - if you have multiple withdrawals (such as fees) on the same day then you can merge them into a single transaction.

It is possible to merge up to 9 transactions at a time but all of the transactions need to have the same label and take place on the same day.

The alternative to the above, would be to sum up the values of the transactions and enter a single transaction for the total amount received on a daily/weekly/monthly basis.

I have attached our guide to Merging Transactions but as always, get in touch with us at [email protected] if you need further assistance. :smiley:

Best wishes

Ali :rocket:

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Well, as far as I can see, you can combine merged transactions as well. Therefore, in case you have 20 deposits of the same token in one day, you can still merge all of them into a single deposit transaction by merging 9 transactions twice, and finally merge the outcome of these merges with the remaining two transactions (mind-blowing, I know :smiley:).

However, it is quite painful to do so for staking products that payout regurarly within a day (e.g. KuCoin POL staking, Binance Earn products). @Ali_Koinly is there any chance to provide a pricing plan for portofolio tracking alone?

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hey @kostkond , that’s actually a really handy tip! Be sure to make use of this guys!

In regards to a separate pricing plan for just portfolio tracking, it’s not something that has been discussed internally (that I am aware of). I’ll find out a little bit more, and plant the seed if necessary. :grinning_face_with_smiling_eyes:

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Another nice feature would be to filter out automatically specified types of transactions from a wallet. FTX reports hourly gain , generating 24 transaction a day per coin. Which makes me having thousands of transactions, while I could just manually import ftx gains yearly easily instead and have one transaction a year per coin…