Bitwave vs. XCMworkflow, from Wolters Kluwer vs. Zenledger

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

Zenledger is best utilized as a tool for compiling and aggregating multiple crypto based transactions as well as to better understand the complex topics of blockchain technology and how they affect ones tax position. By leveraging the advanced Zenledger crypto tax software and the many available resources, one can greatly increase their crypto knowledge and be better prepared for tax season.

Incentivized

• 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.

• Blockchain integration
• Support for Multiple DeFi Protocols
• Knowledgeable Support Specialists

Incentivized

• 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

• NFT Support
• Robinhood Integration
• Global Tax Forms

Incentivized

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