Awaken Tax Review 2026: Is It Worth It?
If you’ve been searching for crypto tax software that actually handles modern crypto activity, you’ve probably come across Awaken Tax. Unlike legacy platforms built for simple exchange trading, Awaken was purpose-built for today’s DeFi-heavy, multi-chain, NFT-trading reality.
After extensively testing the platform against competitors, we’re ready to share our complete review. Spoiler: Awaken has earned our top recommendation for 2026.
What Is Awaken Tax?
Awaken Tax is a cryptocurrency tax reporting platform designed for users with complex on-chain activity. The company was founded by crypto natives who experienced firsthand the frustration of existing tax software failing to understand DeFi transactions.
Key Statistics:
- 25,000+ active users
- $3 billion+ in on-chain assets tracked
- 500,000+ wallets and exchange accounts connected
- 10,000+ DeFi and NFT protocols supported
- Most users complete their taxes in under 1 hour
The platform serves users in the United States, Australia, and Germany, generating compliant tax forms for each jurisdiction.
Feature Deep Dive
Blockchain and Exchange Support
Direct Wallet Connections: Awaken offers native support for the most important chains:
| Chain | Direct Wallet Support |
|---|---|
| Ethereum | Yes |
| Polygon | Yes |
| Avalanche | Yes |
| BNB Chain | Yes |
| Optimism | Yes |
| Arbitrum | Yes |
| Solana | Yes |
| Sui | Yes |
| 50+ via Exodus | Yes |
Simply paste your wallet addresses, and Awaken automatically imports your complete transaction history.
Exchange Integrations: For centralized exchange activity, Awaken supports:
- API Connection: Coinbase, Kraken, Binance, Gemini, KuCoin
- CSV Upload: Bitfinex, Crypto.com, Gate.io, and 100+ additional exchanges
The API connections provide automatic sync, keeping your data up to date without manual uploads.
DeFi Protocol Coverage
This is where Awaken truly shines. While most competitors support 100-500 DeFi protocols, Awaken supports over 10,000.
Supported DeFi Categories:
Decentralized Exchanges:
- Uniswap (all versions)
- SushiSwap
- PancakeSwap
- Curve Finance
- Balancer
- TraderJoe
- And thousands more
Lending Protocols:
- Aave (all versions)
- Compound
- MakerDAO
- Euler
- Morpho
- And many more
Liquid Staking:
- Lido (stETH)
- Rocket Pool (rETH)
- Frax (sfrxETH)
- Stakewise
- And others
Yield Aggregators:
- Yearn Finance
- Convex
- Beefy
- And more
Bridges:
- Wormhole
- Stargate
- Hop Protocol
- Across
- And many more
NFT Marketplaces:
- OpenSea
- Blur
- Tensor
- Magic Eden
- LooksRare
- X2Y2
- Foundation
- And thousands more
Each protocol has been individually mapped so Awaken correctly categorizes your transactions. This isn’t simple “swap detection”; it’s understanding the specific mechanics of each protocol.
Transaction Type Support
Awaken correctly handles all modern transaction types:
- Buying and selling on exchanges and DEXs
- Token swaps with proper cost basis tracking
- Staking rewards categorized as income
- Mining rewards tracked as income
- NFT purchases, sales, and mints with correct cost basis
- Liquidity providing with LP token tracking
- Yield farming with reward token valuation
- Airdrops tracked as income when received
- Bridging with proper cost basis carryover
Tax Features
Accounting Methods: Choose from FIFO, LIFO, or HIFO. Awaken can show you which method results in the lowest tax liability.
Tax-Loss Harvesting: The built-in tax-loss harvesting tool identifies opportunities to realize losses and offset gains. This feature alone can save you more than the software costs.
Rev. Proc. 2024-28 Compliance: The IRS now requires per-wallet cost basis tracking. Awaken has this built in from the start, ensuring you’re compliant with the latest regulations.
Supported Tax Forms:
- IRS Form 8949 (Capital Gains and Losses)
- Schedule D
- 1099-B equivalent reports
- Australian ATO reports
- German tax reports
Speed and Performance
One of our favorite aspects of Awaken is its speed. Many platforms slow to a crawl once you have thousands of transactions. Awaken handles millions of transactions without breaking a sweat.
During our testing with a wallet containing 50,000+ transactions, Awaken processed everything in under two minutes. Try that with other platforms.
User Interface
The Awaken interface is clean and intuitive:
- Dashboard: Overview of your portfolio, gains/losses, and tax liability
- Transactions: Complete list with filtering and categorization
- Tax Reports: Generate and download your tax forms
- Tax-Loss Harvesting: Identify opportunities to reduce taxes
- Settings: Configure accounting methods and preferences
The transaction review interface lets you quickly verify categorizations and make adjustments if needed. This is important for complex DeFi activity where you want to confirm everything is correct.
Pricing
Awaken offers competitive pricing with a generous free tier:
| Plan | Transactions | Price |
|---|---|---|
| Free | 100 | $0 |
| Starter | 300 | $69/year |
| Plus | 1,000 | ~$150/year |
| Pro | 3,000 | ~$300/year |
| Unlimited | Unlimited | ~$600/year |
The free tier includes 100 transactions and full access to features, letting you try the platform before paying.
Pricing Analysis:
Compared to competitors:
- Koinly: $49 for 100 txns, $99 for 1,000 txns
- CoinTracker: $59-$599/year
- CoinLedger: $49-$299/year
Awaken’s pricing is competitive, and when you factor in the superior DeFi/NFT support, it offers excellent value.
Customer Support
Awaken offers real human support from people who understand crypto. This isn’t a chatbot or generic customer service; it’s support from crypto natives who can actually help with complex on-chain questions.
Support Channels:
- Email support
- In-app help
- Documentation and guides
White-Glove Service:
For users with extremely complex situations, Awaken offers a “done-for-you” full-service option. Their team handles everything, ensuring your taxes are filed correctly. This is ideal for high-volume traders or those with particularly complex DeFi activity.
What We Love About Awaken
1. Unmatched DeFi Support
With 10,000+ protocols, Awaken handles DeFi activity that breaks other platforms. If you use Uniswap, Aave, Lido, or any other major DeFi protocol, your transactions will be correctly categorized.
2. NFT Excellence
Awaken’s NFT support is comprehensive. Whether you’re trading on OpenSea, Blur, or Tensor, minting new collections, or receiving royalties as a creator, Awaken handles it all.
3. Speed
No lag, no spinning wheels. Even large portfolios are processed quickly.
4. Accuracy
The Awaken team has put significant effort into accurately mapping every protocol. They even offer credits if competitor software produced incorrect results that you’re switching from.
5. Modern Interface
Clean, intuitive, and designed for power users. You can quickly review transactions, verify categorizations, and generate reports.
6. Rev. Proc. 2024-28 Compliance
Already compliant with the new IRS per-wallet tracking requirements. You won’t need to scramble to update your approach.
7. Real Human Support
Not chatbots. Actual crypto-knowledgeable humans who can help with complex questions.
Limitations to Consider
Geographic Availability
Awaken currently supports:
- United States
- Australia
- Germany
It does not support:
- United Kingdom
- Canada
- Other countries
If you’re in the UK or Canada, you’ll need to use Koinly or CoinTracker until Awaken expands coverage.
No TurboTax Integration
Unlike CoinTracker and CoinLedger, Awaken doesn’t offer direct TurboTax integration. You’ll need to export your forms and manually enter the summary or use Form 8949.
Fewer Exchange Integrations
Awaken has ~100 exchange integrations compared to 800+ for Koinly or 3,500+ for CryptoTaxCalculator. However, they cover all major exchanges, and CSV upload handles the rest.
Awaken vs. Competitors
Awaken vs. Koinly
| Feature | Awaken | Koinly |
|---|---|---|
| DeFi Protocols | 10,000+ | ~500 |
| NFT Support | Excellent | Good |
| Countries | 3 | 20+ |
| TurboTax Integration | No | Yes |
| Price (100 txns) | Free | $49 |
| Speed | Excellent | Good |
Verdict: Choose Awaken for DeFi/NFT-heavy portfolios. Choose Koinly if you need UK/Canada support or TurboTax integration.
Awaken vs. CoinTracker
| Feature | Awaken | CoinTracker |
|---|---|---|
| DeFi Protocols | 10,000+ | ~200 |
| NFT Support | Excellent | Good |
| TurboTax Integration | No | Yes (official partner) |
| Price | $69 (300 txns) | $59 (limited) |
| Rev. Proc. 2024-28 | Yes | Yes |
Verdict: Choose Awaken for DeFi/NFT. Choose CoinTracker if TurboTax integration is essential.
Awaken vs. CoinLedger
| Feature | Awaken | CoinLedger |
|---|---|---|
| DeFi Protocols | 10,000+ | ~100 |
| Ease of Use | Good | Excellent |
| Customer Support | Excellent | Excellent |
| Price | $69 (300 txns) | $49 (lowest tier) |
Verdict: Choose Awaken for complex portfolios. CoinLedger may be better for complete beginners with simple portfolios.
Who Should Use Awaken?
Ideal Users:
- DeFi power users with activity across multiple protocols
- NFT traders using various marketplaces
- Multi-chain users active on Ethereum, Solana, Polygon, etc.
- High-volume traders who need fast processing
- US, Australia, or Germany residents
- Anyone frustrated with other software miscategorizing transactions
May Want to Look Elsewhere:
- UK or Canada residents (not yet supported)
- Users who need TurboTax integration
- Very simple portfolios (exchange-only, few transactions)
Getting Started with Awaken
- Sign up free at awaken.tax
- Connect your wallets by pasting addresses
- Connect exchanges via API or CSV upload
- Review transactions and verify categorizations
- Generate tax forms and download
The entire process typically takes under an hour, even for complex portfolios.
Our Verdict
Rating: 4.8/5
Awaken Tax is the best crypto tax software for DeFi and NFT users in 2026. Its unmatched protocol coverage, excellent speed, and accurate categorization make it the clear choice for anyone with on-chain activity beyond simple exchange trading.
The limitations are real but relatively minor. Geographic restrictions affect some users, and lack of TurboTax integration is inconvenient. But for US, Australian, and German users with DeFi/NFT activity, Awaken is simply the best option available.
The Bottom Line: If you’ve struggled with other tax software miscategorizing your DeFi transactions or missing your NFT activity, Awaken will feel like a breath of fresh air. It finally delivers what crypto tax software should be.
Frequently Asked Questions
Is Awaken Tax legitimate?
Yes, Awaken is a legitimate crypto tax platform used by 25,000+ users managing over $3 billion in assets. The company is focused specifically on crypto tax reporting.
How accurate is Awaken Tax?
Awaken is highly accurate, especially for DeFi and NFT transactions. They even offer credits if you switch from a competitor that produced incorrect calculations.
Can I try Awaken for free?
Yes, the free tier includes 100 transactions with full feature access. This lets you evaluate the platform before purchasing.
Does Awaken support Solana?
Yes, Awaken has native Solana support for both tokens and NFTs.
Is Awaken compliant with Rev. Proc. 2024-28?
Yes, Awaken has per-wallet cost basis tracking built in, fully compliant with the new IRS requirements.
Compare Awaken with all other platforms on our comparison page.