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Cryptoworth

Score8.5 out of 10

10 Reviews and Ratings

What is Cryptoworth?

Cryptoworth tracks crypto , connects wallets and exchanges and tracks transactions and streamlines bookkeeping operations.

Categories & Use Cases

Media

Great Software for SMEs

Use Cases and Deployment Scope

We are a decentralised exchange on Sui. Cryptoworth helps us to correctly calculate and report our crypto revenue & transactions.

Pros

  • Has many integrations with chains and tokens
  • Has a comprehensive classification system
  • Has a very responsive customer support team

Cons

  • The platform is prone to bugs
  • The UI/UX is rather confusing to use and takes time to get used to
  • Takes a considerable time to load and import all transactions

Return on Investment

  • Positive Impact: more access to transaction data and visibility to funds.
  • Negative Impact: Spending lots of time with CS team to identify bugs and duplicated entries.
  • Positive Impact: Taxable events calculation.

Usability

Other Software Used

QuickBooks Online, Slack, Google Workspace

Intuitive interface, seamless integration with multiple exchanges and wallets. Excellent customer support.

Use Cases and Deployment Scope

It simplifies the work of looking into crypto transactions in a more efficient way.

Pros

  • Connects wallets and exchanges in one place
  • Easy to use
  • Very responsive customer support
  • Takes user suggestions seriously

Cons

  • Only minor issues that gets resolved instantly
  • Hope it can create one journal entry for bulk transactions that are similar in nature. One entry in a week/month for example.

Return on Investment

  • It saves time

Usability

Very Scalable Addition to our Reporting Processes

Use Cases and Deployment Scope

Our company has numerous wallets and exchange accounts on the blockchain, over 50. Trying to manage these in the past and keep track of taxable events, business revenue, internal transfers, gas fees, vendor expenses paid via blockchain etc has been extremely difficult. Since we started using Cryporworth, it's been a major improvement.

Pros

  • Customer Service
  • Numerous connections
  • Value for Money

Cons

  • Accounting experts on team
  • The program can be a little glitchy from time to time

Return on Investment

  • Compliance - Calculating capital gains/losses is more accurate
  • P&L oversight - revenue is easier to track and split

Usability

Other Software Used

QuickBooks Online, Dext Prepare (with Receipt Bank), Reach Reporting

Customer driven features

Use Cases and Deployment Scope

We use Cryptoworth as our crypto subledger with millions of dollars in crypto over 50,000 historical transactions . We are project that transacts in our native token as well as many other chains. The team at Cryptoworth not only integrated and supported us while other subledger companies wouldn't, but they also are very attentive to feedback and product improvements. There is so much nuance in this industry and we can count on them to help navigate it and incorporate any new practices.

Pros

  • Customer service and feedback
  • Flexibility and openness to new transactions or chains
  • User experience is great, intuitive, and always seems to get better

Cons

  • There have been a few times in the past where the infra was timing out or slow. We would wait and come back to it working later
  • Bill forwarding from email would be a nice feature to have
  • Sometimes snapshots don't get all assets

Return on Investment

  • Compliance completely upleveled
  • End of month closeout takes a fraction of the time
  • Querying old transactions or specific wallet addresses saves time every time we have to do it
  • Reliable for balances

Usability

Alternatives Considered

Cryptio

VP Finance Experience Review - Cryptoworth, Super Recommended !

Use Cases and Deployment Scope

After years of manual work regarding Crypto accounting, we have implemented CryptoWorth - The team is very reliable, experienced, professional, and responsive. The system helped us set up our vast database using multiple tools. In addition, working with CW on a monthly basis is really convenient. The workflow is great and accurate and answers all of our compliance and accounting needs. Furthermore, for any specific feature that needs to be added, the team is very responsive and will definitely solve any problem or need you may have (Very important as each Crypto company has a lot of different aspects and needs). Also, tax-wise and reporting-wise, CW works like a charm. After reviewing and using a couple of Crypto accounting management software, I must say this is the best and I highly recommend it - Also the pricing is very reasonable.

Pros

  • Crypto accounting and compliance
  • Various reports
  • Tax matters
  • Crypto montioring
  • Responsive and professional team

Cons

  • Some minor bugs on UI & UX side

Return on Investment

  • Without them, we could not prepare my Financial Statements and our Tax Returns.

Alternatives Considered

Bitwave