Bitwave Reviews & Product Details

I think Bitwave is the most configurable and flexible of all the subledger platforms for digital assets out there. It can handle the highest degree of variable accounting treatments, which means it's super flexible whether you're dealing with bespoke treatments or just ensuring compliance with FASB, IFRS, and tax regulations. The implementation and support team at Bitwave were also very helpful, assisting me in getting everything configured according to my client's specific needs. Review collected by and hosted on G2.com.

Bitwave is a really capable system with a lot of functionality, similar to ERP systems like NetSuite or SAP, which means it takes time to learn the platform. Anyone who wants to be successful using Bitwave should leverage its documentation, help page, and work with the support team, which is excellent. Review collected by and hosted on G2.com.

The marketing and business development is good, possibly better than the actual product. The platform generally works and was tested by my company with hundreds of thousands of transactions. The various products in the market including Bitwave can integrate both centralized platform and onchain data readily, and have a decent UI/UX, and integrate USD pricing data. These are easy minimums and should not be the basis for choosing vendors in 2025. Review collected by and hosted on G2.com.

The design of the software and the capability of the people assigned was extremely frustrating. The volume of transactions needed was communicated several times to Bitwave. However, after signing, the company was not informed that the platform had capacity limits and transactions were consolidated or rolled up, causing distortions and negative balances because transactions were recorded out of order (deposits were moved ahead of withdrawals), and these rollups were not fully explained or documented. Reports were not in a format keyed to accounting data and key information was spread across two separate report formats the the company had to manually retrieve and combine. A transaction appeared that was not in the raw data and the discrepancy was not immediately acted on. An account manager assigned had no accounting or finance background. He focused more on walking clients through the UX, but when presented with any substantive issue, he would say yes to everything on long calls in another time zone, then schedule more calls. The quality of actual staff supporting weekly after you sign is frustrating unless you elevate to senior management, who are capable but obviously cannot manage the account day to day. My peers have the cyncial view that selecting a digital asset accounting provider is an exercise in choosing the least worst, least painful option among many imperfect options and you should just default to whoever will be the most responsive when you need to work through the inevitable bugs if you have any significant transaction volume. Review collected by and hosted on G2.com.

I used Bitwave for a few of our Crypto clients and it worked out very well. It helps to automate and streamline the crypto accounting process and reduce manual work. I like the accounting close feature as Bitwave provides the step and step instructions on how to perform monthly close accounting for Crypto work. It provides us the confidence that we are doing the crypto work correctly. Also, Bitwave will assign an onboarding specialist to help with the onboarding. This is extremely helpful as human support makes everything goes smoothly. I really like the human support part as it makes a big difference. Review collected by and hosted on G2.com.

There are some new blockchains and exchanges that Bitave is not supporting yet so it required a manual upload. Bitwave keeps making enhancements to the platform so they may available soon. Review collected by and hosted on G2.com.

You're not just paying for a software, you're paying for an all-encompassing solution to your crypto problems. The team is incredibly helpful - especially Xeres who guided us every step of the way through our year-closing. It would be impossible for us to do it without him, and we cannot imagine a future without Bitwave. Highly, highly recommend! Review collected by and hosted on G2.com.

The filters on the transactions report should have more options - filter by transaction type, amount, etc. Review collected by and hosted on G2.com.

Bitwave does well at capturing crypto activity automatically through API connections. It calculates realized gain/loss amounts on your behalf, which you can then use to create journal entries in your ERP. There are a few good reports like the Balance reports, which you can run as of a particular date and use for Mark to Market journal entries. Good onboarding support and troubleshooting issues. Review collected by and hosted on G2.com.

Bitwave can seemingly miss picking up some transactions due to glitches, but if you discover them, they can resolve them. It would be nice if Bitwave had the ability to re-sync transactions to ERP if there are changes, without having to delete said transaction in ERP first. Review collected by and hosted on G2.com.

Bitwave is a powerful yet simple crypto accounting solution that focuses on being an EXTENSION of your existing system (quickbooks). I love this because most other solutions I looked at tried to do too much. Bitwave focuses on your core needs and does them very well.

You are paying for a service just as much as you are software. Their team was fantastic during the onboarding process. Not only did they help solve all of my issues, they were very knowledgeable and found answers/solutions very quickly. Review collected by and hosted on G2.com.

The UI & search certainly can be improved. But you can tell these are being actively improved and worked on. And that their initial focus was to ensure the accounting engine works very well before making the UI prettier and more usable. Review collected by and hosted on G2.com.

Bitwave has been an invaluable tool for supporting venture-backed crypto companies with a range of business models and digital assets. Whereas most crypto software products support annual tax reporting, Bitwave also truly supports a monthly accounting close for the enterprise; from syncing with your accounting system (e.g. QBO, Netsuite) to providing supporting reports and a month-end reconciliation process.

On the support side, the Bitwave team is knowledgeable and responsive which is deeply appreciated as a professional service provider. Review collected by and hosted on G2.com.

Some newer blockchains and exchanges may be a manual import process, but Bitwave currently supports the major ones and is always adding more.

There are some Quality of Life improvements that can be done to enhance the experience and/or reduce the amount of time needed to close, such as additional filters on the Transaction tab or additional data being included in some of the downloadable reports. Bitwave listens to its customers and improvements are released throughout the year. Review collected by and hosted on G2.com.

Arbitrage, DeFi, NFT, Gaming... no matter the client Bitwave has been my software of choice. The software allows A/P, A/R, and ledger connections. My tax team likes the gain/loss report. My public entities love the time saved using the impairment report. I have yet to find another software that also allows you to record DeFi and staking AND NFTs appropriately. Plus, Bitwave's customer service is stellar. Review collected by and hosted on G2.com.

The downside... I don't think we'll ever get ahead of the ever-changing digital asset market. The bonus to Bitwave (unlike the others) is that as an accountant I can input my manual workaround for recording wonky new oddities that we wake up to each day (ie, superfluid staking and such). Bitwave is pretty fast at adding new features to meet the market or at least provide guidance on how to deal with each. Bitwave allows me to control my close and not wait on a development team for answers. Review collected by and hosted on G2.com.

I like using bitwave because of its reporting features . There are two key reports which i use for my close the balance report and the gains and losses these help me get an understanding of my portfolio as well as the holding gains and losses of my portfolio. Review collected by and hosted on G2.com.

There is no custom reporting at this point - this would be a good feature in the future. Review collected by and hosted on G2.com.

Bitwave presents transactions in an interface that is easy to view, organize and categorize. Review and corrections are simple prior to upload to QBs. Review collected by and hosted on G2.com.

While interpretation was not impossible, the terms used in reports lack consistency and are not in typical accountant speak. Review collected by and hosted on G2.com.