Bitwave
Bitwave is an enterprise digital asset accounting and tax software platform designed to help finance teams manage cryptocurrency transactions, automate bookkeeping, and ensure regulatory compliance across complex Web3 portfolios.
Koinly
Koinly is a cryptocurrency tax software that helps you calculate your capital gains and income by syncing your wallets and exchanges to generate compliant tax reports.
Quick Comparison
| Feature | Bitwave | Koinly |
|---|---|---|
| Website | bitwave.io | koinly.io |
| Pricing Model | Custom | Freemium |
| Starting Price | Custom Pricing | Free |
| FREE Trial | ✘ No free trial | ✘ No free trial |
| Free Plan | ✘ No free plan | ✓ Has free plan |
| Product Demo | ✓ Request demo here | ✘ No product demo |
| Deployment | ||
| Integrations | ||
| Target Users | ||
| Target Industries | ||
| Customer Count | 0 | 0 |
| Founded Year | 2018 | 2018 |
| Headquarters | San Francisco, USA | London, UK |
Overview
Bitwave
Bitwave is a specialized financial platform that helps you bridge the gap between blockchain transactions and traditional accounting systems. You can connect your wallets, exchanges, and custodial accounts to automatically pull transaction data into a centralized sub-ledger. This allows you to categorize digital asset activity, track cost basis, and calculate gains or losses without manual spreadsheets.
The platform is designed for enterprise finance teams, crypto-native businesses, and institutional investors who need to maintain audit-ready records. You can sync your crypto data directly with ERP systems like NetSuite, Sage Intacct, or QuickBooks. By automating the high-volume complexity of DeFi, staking, and NFT transactions, you reduce manual errors and ensure your financial reporting remains compliant with current tax standards.
Koinly
Koinly is a cryptocurrency tax platform designed to simplify the complex process of tracking your digital assets and calculating your tax obligations. You can connect your exchange accounts, private wallets, and blockchain addresses to automatically import your entire transaction history. The software then reconciles your data, identifies transfers between your own wallets, and calculates your capital gains or losses using approved accounting methods like FIFO or LIFO.
You can use the platform to monitor your portfolio's performance in real-time while ensuring you stay compliant with local tax laws in over 20 countries. It solves the headache of manual spreadsheet tracking by identifying missing market prices and highlighting potential errors in your data. Whether you are a casual investor or a high-frequency trader, you can generate ready-to-file tax reports like the IRS Form 8949 or TurboTax entries in just a few minutes.
Overview
Bitwave Features
- Enterprise ERP Sync Connect your crypto activity directly to NetSuite, Sage Intacct, or QuickBooks to keep your traditional books perfectly in sync.
- Automated Bookkeeping Set up custom rules to automatically categorize transactions, saving you hours of manual data entry and reducing human error.
- Cost Basis Tracking Track your cost basis across multiple wallets and exchanges using FIFO, LIFO, or specific identification methods for accurate reporting.
- DeFi & Staking Support Monitor complex decentralized finance activities and staking rewards to ensure every earned token is accounted for and taxed correctly.
- Tax Loss Harvesting Identify opportunities to offset gains by selling underwater assets, helping you optimize your tax liability throughout the fiscal year.
- Audit-Ready Reporting Generate detailed financial reports and roll-forward schedules that provide the transparency required by internal auditors and regulatory bodies.
Koinly Features
- Automatic Data Sync. Connect your exchanges and wallets via API or public keys to automatically import your transaction history without manual entry.
- Portfolio Tracking. View your total holdings, ROI, and unrealized gains across all your platforms in one unified, real-time dashboard.
- Tax Report Generation. Download localized tax documents like Form 8949, Schedule D, and international reports tailored to your specific country's requirements.
- Error Reconciliation. Identify and fix missing transaction data or duplicate entries with built-in tools that highlight inconsistencies in your records.
- DeFi & NFT Support. Track your decentralized finance activities and NFT trades across multiple blockchains to ensure every transaction is accounted for.
- Tax Loss Harvesting. Identify assets that are currently at a loss so you can sell them to offset your capital gains and lower your tax bill.
Pricing Comparison
Bitwave Pricing
Koinly Pricing
- Up to 10,000 transactions
- Unlimited wallet sync
- Portfolio tracking
- Capital gains preview
- DeFi & NFT support
- Everything in Free, plus:
- Up to 100 transactions
- Downloadable tax reports
- IRS Form 8949 & Schedule D
- TurboTax & TaxAct export
- Comprehensive audit trail
Pros & Cons
Bitwave
Pros
- Deep integration with major enterprise ERP systems
- Handles high-volume DeFi and staking transactions effectively
- Excellent support for complex cost-basis accounting methods
- Robust audit trails provide confidence during financial reviews
Cons
- Significant initial setup time for complex portfolios
- Steep learning curve for non-crypto native accountants
- Pricing is not transparent for smaller organizations
Koinly
Pros
- Extensive support for over 700 exchanges and wallets
- User interface is clean and easy to navigate
- Accurate handling of complex DeFi and staking transactions
- Excellent customer support and detailed help documentation
Cons
- API sync can occasionally require manual troubleshooting
- Pricing increases significantly for high-volume traders
- Large datasets can take time to process