Great crypto accounting software
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Overview
What is Bitwave?
Bitwave provides enterprises a drop in solution for handling digital assets. The platform offers complex tax tracking capabilities, automatic mark-to-market capabilities, crypto invoicing, and crypto bill pay. It is a multi-user, multi-sig wallet that helps businesses hold their coins safely,…
Recent Reviews
Reviewer Pros & Cons
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What is Bitwave?
Bitwave provides enterprises a drop in solution for handling digital assets. The platform offers complex tax tracking capabilities, automatic mark-to-market capabilities, crypto invoicing, and crypto bill pay. It is a multi-user, multi-sig wallet that helps businesses hold their coins safely,…
Entry-level set up fee?
- No setup fee
Offerings
- Free Trial
- Free/Freemium Version
- Premium Consulting / Integration Services
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Alternatives Pricing
What is Pilot?
Pilot is a startup-focused accounting firm headquaertered in the US with a team of 350+ US-based employees including accountants, fractional CFOs, and tax specialists who focus on building a strong finance foundation for clients' businesses. Pilot offers Bookkeeping, CFO, tax services, and more…
Product Demos
Intangible Digital Asset Impairment Demo | Bitwave
YouTube
Product Details
- About
- Tech Details
What is Bitwave?
Bitwave provides enterprises a drop in solution for handling digital assets. The platform offers complex tax tracking capabilities, automatic mark-to-market capabilities, crypto invoicing, and crypto bill pay. It is a multi-user, multi-sig wallet that helps businesses hold their coins safely, securely, and compliantly; it is a fuback-office software solution for businesses using crypto, holding tokens, etc.
Bitwave Technical Details
| Operating Systems | Unspecified |
|---|---|
| Mobile Application | No |
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Reviews and Ratings
(5)Attribute Ratings
Reviews
(1-4 of 4)Companies can't remove reviews or game the system. Here's why
March 07, 2023
Great crypto accounting software
Score 10 out of 10
Vetted Review
Verified User
- Captures crypto activity automatically through API connections
- Calculates realized gain / loss amounts
- Balance reports as of a particular date in time for Mark to Market
- Good onboarding support and troubleshooting issues
- 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
Bitwave has Solana Chain support. NetSuite integration support. these others did not have both of these at the time of our discovery process.
February 23, 2023
Great Crypto accounting software.
- Sync with Quickbooks
- Customer Service
- ability to set constant pricing (ie USD stablecoin)
- speed of refresh
February 21, 2023
Terrific platform for crypto accounting ; it will be elite once more chains are automatically supported
- Gain / Loss Accounting and Cost Basis Determination
- Automatic sync with supported chains
- Taking tons of transaction data and putting into a readable format
- Support more chains for automatic retrieval
- Improve API integration with centralized exchanges
- Improve integration with Quickbooks as it relates to making adjustments after data push
I would make sure the provider is able to support the chains (i.e. ETH layer 2's like Arbitrum or any Cosmos SDK chain like Osmosis) that I use on a day-to-day basis. Bitwave is working on coming up with those offerings.
August 15, 2022
Simple but versatile digital asset bookkeeping
Score 10 out of 10
Vetted Review
Verified User
- 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.
- Automation support for more alt blockchains (can still track manually).
- Automation support for more DeFi protocols (can still track manually).
- Bulk classification options (but it does auto-categorize transaction fees-very helpful).
I don't want to tear apart a competitor, but I have used & evaluated a number of digital asset tracking systems. The biggest issues I found with most other products is simply that the product did not correctly record transactions. Some digital transaction can involve many wallets & multiple tokens, and I found it common that only the first actions would be captures while the remaining completely ignored. This led to the token balances to be off, and it was a nightmare to try and correct because the products did not have a manual option to adjust or fix transactions. The other biggest complaint is that all token transfers were considered taxable events, and so the products would calculate capital gains as tokens were transferred back and forth between company wallets at whatever the tokens were trading at for that day. This makes proper capital gains next to impossible without the ability to mark transactions as taxable and non-taxable like Bitwave does.