Bitwave vs. Ledgible Tax

If you are mainly using Bitcoin, ERC-20 tokens, or any supported chains where they have automatic data retrieval the system is great. The biggest issue, which Bitwave is constantly working on, is not supporting automatic transaction retrieval of specific crypto blockchains. They currently have a workaround by allowing manual uploads of unsupported chains (i.e., layer two chains like Arbitrum or Cosmos-based chains). The Bitwave platform still works excellently with unsupported chains; however, it is just a little more time-consuming b/c transactions are inputted using a CSV file that needs to be correct. But I imagine they will continue to add new supported chains, and since I have been a customer, I have seen the number of blockchains they support at least double.

Incentivized

Ledgible is great for CPAs, Accounting firms, or even independent tax professionals looking for a simple, effective, and easy way to navigate the confusing world of cryptocurrency. If you are a tax professional overwhelmed with understanding the crypto space, Ledgible is the right software solution for you. They also have great interoperability between their platform and my tax software.

• Ability to categorize taxable and non-taxable transactions.
• Able to handle DeFi transactions.
• Documentation support to track digital asset balances & locations.
• Can read token transaction activity better than most wallet explorers.

• Client Management
• Crypto Tax Reporting
• Transaction Matching
• Team Management for Tax Practices

• Bitwave can seemingly miss picking up some transactions due to glitches, but if you discover them, they can resolve them.
• Ability to re-sync transactions to ERP if there are changes, without having to delete said transaction in ERP first

• Nothing, fits my needs exactly

Legible was similar service but too high in pricing. Coinpanda was able to support some chains that Bitwave wasn't able to automatically support; however, Coinpanda was a less professionalized operation with less customer support.

Incentivized

Ledgible has the most intuitive UI and is the only crypto tax software that seems to be built for professionals. Kudos to them for focusing on the tax professional niche!

• Crypto Client Advisory
• Crypto Client Management
• Tax Planning and Estimation