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Bitwave

Score8.9 out of 10

5 Reviews and Ratings

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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, securely, and compliantly; it is a fuback-office software solution for businesses using crypto, holding tokens, etc.

Categories & Use Cases

Reviews

What users are saying about Bitwave.
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Terrific platform for crypto accounting ; it will be elite once more chains are automatically supported

Incentivized
Sam Less
CFO (Chief Financial Officer) in Finance and Accounting at Coaction (1-10 employees employees)

Pros

  • Gain / Loss Accounting and Cost Basis Determination
  • Automatic sync with supported chains
  • Taking tons of transaction data and putting into a readable format

Cons

  • 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

Alternatives Considered

Ledgible Tax and Coinpanda

Other Software Used

QuickBooks Online, Discord, Notion

Great crypto accounting software

Michael Dobe
Senior Accountant in Finance and Accounting at Manticore Games, Inc. (51-200 employees employees)

Pros

  • 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

Cons

  • 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

Alternatives Considered

Cryptio, TaxBit and Ledgible Tax

Simple but versatile digital asset bookkeeping

Effertz TomView profile
CFO (Chief Financial Officer) in Professional Services at Cipher Counts (1-10 employees employees)

Pros

  • 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.

Cons

  • 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).

Great Crypto accounting software.

Incentivized
Verified User
Administrator in Finance and Accounting (11-50 employees employees)

Pros

  • Sync with Quickbooks
  • Customer Service

Cons

  • ability to set constant pricing (ie USD stablecoin)
  • speed of refresh