Both NODE40 and Bitwave serve enterprises, funds, and finance teams—but they differ significantly in DeFi transparency, Solana support, and audit readiness. This comparison highlights key differences to help you decide which platform best fits your reconciliation, compliance, and reporting needs.

Quick Comparison

Why Teams Choose NODE40 Over Bitwave

1. Absolute DeFi Transparency

The Problem: DeFi transactions involve smart contract interactions, token transformations, and multi-step operations that generic “trade” or “transfer” labels can’t properly represent.

Bitwave Approach: Standard transaction categorization suitable for basic DeFi tracking.

NODE40 Approach: Rich transaction context that provides protocol-level detail for audit defense:

Smart Contract Function Tracking:

• Identifies which function was called (swap, addLiquidity, stake, borrow, claim)
• Links each function to specific financial treatment
• Examples: swap() on Uniswap, supply() on Aave, deposit() on Yearn

Protocol-Level Categorization:

• Uniswap V3 concentrated liquidity pool deposit
• Aave collateral deposit vs. borrow vs. interest claim
• Curve stablecoin pool swap vs. Balancer weighted pool
• Distinguishes between 50+ different DeFi protocols

Token Derivation Tracking:

• Wrapped tokens (WETH, WBTC) → Non-taxable wrapping events
• LP tokens → Track cost basis of underlying deposited assets
• Yield-bearing tokens (aUSDC, stETH) → Principal vs. accrued interest
• Synthetic assets → Document composition and backing

Multi-Step Transaction Breakdown:

• Parse complex transactions into auditable financial events
• Example: Deposit ETH → Vault swaps to USDC → Deposits in Aave → Borrows more → Stakes in Curve
• NODE40 shows each step with proper financial treatment

Why This Matters:

• IRS audit defense requires detailed transaction context
• Auditors need to understand “what actually happened”
• Cost basis calculations depend on correct categorization
• GAAP/IFRS compliance demands proper revenue recognition

Learn more about NODE40’s DeFi capabilities →

2. Deep Solana Expertise

NODE40 is the only platform with advanced Solana transaction tracking and validator financial analysis.

Solana’s architecture creates unique accounting challenges:

• Sub-second finality with thousands of TPS
• Nested instruction hierarchies (one transaction = multiple program calls)
• Jupiter aggregator multi-hop routing
• Validator rewards distributed across epochs

Bitwave Solana Support: Limited coverage without deep parsing capabilities.

NODE40’s Solana Capabilities:

Transaction-Level Reconciliation:

• Parse nested instruction hierarchies
• Track SPL tokens across program interactions
• Identify Jupiter swap routes (SOL → USDT → USDC paths)
• Reconcile exchange records with on-chain Solana activity

Validator Accounting:

• Automated epoch reward tracking
• Staking position reconciliation across delegation changes
• Commission vs. reward income categorization
• Historical validator performance analysis

Solana DeFi Support:

• Orca concentrated liquidity pools
• Raydium AMM and yield farms
• Jupiter aggregator routing and multi-hop swaps
• Marinade liquid staking (mSOL tracking)
• NFT marketplace transactions (Magic Eden, Tensor)

Who Needs This:

• Validator operators and staking pools
• Funds trading Solana DEXs
• Projects holding SOL or SPL tokens
• Organizations building on Solana ecosystem

Read: Why auditing swaps on Solana is so difficult, but possible →

3. Regulatory Timeliness

NODE40 implements new regulatory requirements faster than competitors.

Recent Examples:

IRS Form 1099-DA (January 2026):

• Published implementation guidance the day IRS announced requirements
• Platform ready for 1099-DA reporting ahead of competitors
• Automated form generation with all required data points

CARF Compliance:

• Early support for Common Reporting Standard
• Multi-jurisdiction reporting built-in
• Ready before enforcement deadlines

Multi-Jurisdiction Tax Reporting:

• Automated calculations for different tax regimes
• Support for GAAP, IFRS, and local accounting standards
• Historical data conversion for new requirements

Why This Matters:

• Avoid last-minute compliance scrambling
• Reduce regulatory risk
• Stay ahead of enforcement deadlines
• No manual workarounds required

Read: CARF is going live – What you need to know →

4. Audit-First Architecture

NODE40 is designed for audit-ready reporting from day one.

Complete Audit Trails:

Every transaction includes:

• Verifiable blockchain references (transaction hash, block number, timestamp)
• USD valuations from third-party pricing sources
• Cost basis calculations with methodology documentation
• Audit trails linking on-chain and off-chain activity

Big Four-Approved Reporting:

• Reports meet standards required by Deloitte, PwC, EY, KPMG
• Designed for financial statement audits
• Built for IRS audit defense
• Satisfies regulatory examination requirements

Audit Trail Completeness:

• Beginning balance (verified at cutoff date)
• – All deposits and acquisitions (with source documentation)
• – All withdrawals and dispositions (with destination documentation)
• = Ending balance (reconciled to current on-chain balance)

Explore audit features →

When Bitwave Might Be a Better Fit

Bitwave is a capable platform with its own strengths:

1. Stablecoin Payments and AR/AP Workflows

Best for Bitwave: If ERP connectivity is central and you want stablecoin AR/AP and payments workflows alongside crypto accounting. Bitwave positions itself with NetSuite-oriented integration and payment capabilities that extend beyond pure accounting and reconciliation.

2. Specific Workflow Preferences

Best for Bitwave: If Bitwave’s pricing structure better fits your transaction volume or budget. However, DeFi coverage and protocol depth can vary and should be validated against your chain and activity mix. Controls, audit evidence, and exception workflows should be reviewed if you have rigorous audit requirements.

Feature-by-Feature Comparison

Transaction Reconciliation

NODE40:

• Rich DeFi context with protocol-level detail
• Deep Solana parsing (nested instructions, validators)
• Multi-chain reconciliation (20+ blockchains)
• Automated cost basis (FIFO, LIFO, HIFO, SpecID)
• Smart contract function tracking

Bitwave:

• Standard DeFi categorization
• Basic Solana support
• Multi-chain reconciliation (15+ blockchains)
• Automated cost basis (FIFO, LIFO, HIFO, SpecID)
• Standard transaction tracking

Winner: NODE40 for DeFi/Solana depth

Audit & Compliance

NODE40:

• Audit-ready reporting with blockchain verification
• Fast regulatory implementation (1099-DA, CARF)
• Big Four-approved reporting
• Complete audit trails

Bitwave:

• Audit-ready reporting
• Standard regulatory compliance
• Enterprise vendor compliance

Winner: NODE40 for financial audit focus; Bitwave for SOC 2 requirement

Solana Capabilities

NODE40:

• Advanced transaction parsing
• Validator accounting and staking reconciliation
• Jupiter aggregator routing
• SPL token tracking
• Solana DeFi protocols (Orca, Raydium, Marinade)
• NFT marketplace accounting

Bitwave:

• Limited Solana support
• Basic balance tracking

Winner: NODE40 (clear differentiator)

DeFi Protocol Support

NODE40:

• 50+ protocols with rich transaction context
• Smart contract function identification
• Token derivation tracking (LP tokens, wrapped assets)
• Multi-step transaction breakdown
• Protocol-specific categorization

Bitwave:

• Standard DeFi protocol support
• Basic categorization
• Standard transaction tracking

Winner: NODE40 for DeFi transparency

ERP & Integrations

NODE40:

• QuickBooks, Xero
• Custom integrations available
• 12+ exchange integrations

Bitwave:

• QuickBooks, Xero, NetSuite
• Enterprise ERP focus
• Exchange integrations

Winner: Bitwave for NetSuite users

Pricing

Both NODE40 and Bitwave offer custom enterprise pricing based on:

• Transaction volume
• Number of users
• Specific features required
• Support level and implementation needs

To get pricing:

• NODE40: Contact our team →
• Bitwave: Visit bitwave.io

Migration from Bitwave to NODE40

Already using Bitwave but need better DeFi transparency or Solana support?

Migration is straightforward:

• Historical data import and reconciliation
• No disruption to existing workflows
• Dedicated migration support
• Parallel run capability (test NODE40 while keeping Bitwave)

Common migration reasons:

• Need for DeFi protocol-level transaction detail
• Solana portfolio requiring advanced tracking
• Audit requirements demanding richer context
• Faster regulatory compliance implementation
• SOC 1 Type 2 certification for financial audits

Contact us to discuss migration →

Decision Framework: NODE40 vs Bitwave

Choose NODE40 if:

• ✅ You have significant Solana exposure (validators, DeFi, SPL tokens)
• ✅ Your portfolio is DeFi-heavy and you need protocol-level transaction detail
• ✅ You’re preparing for financial statement audits and need audit-ready reporting
• ✅ You need fast regulatory compliance (1099-DA, CARF)
• ✅ You work with CPAs or audit firms requiring detailed breakdowns
• ✅ Your priority is IRS audit defense and examination readiness
• ✅ You value precision, controls, and evidence-oriented reporting
• ✅ You need rich context for complex DeFi strategies

Choose Bitwave if:

• ✅ ERP connectivity is central and you want stablecoin AR/AP and payments workflows alongside crypto accounting
• ✅ You prefer Bitwave’s specific workflow and payment features
• ✅ Your portfolio is primarily Bitcoin/Ethereum with minimal Solana or complex DeFi
• ✅ You are comfortable validating DeFi and controls depth for your specific needs
• ✅ Bitwave’s pricing structure better fits your transaction volume

Get Started with NODE40

Ready to see how NODE40 handles your crypto reconciliation with DeFi transparency and Solana expertise?

Book a Demo →

In your demo, we’ll show:

• Live Solana transaction parsing and validator accounting
• DeFi protocol interactions with rich context
• Multi-chain reconciliation across all your sources
• Audit-ready reporting with blockchain verification
• Integration options for your existing systems
• Custom setup for your portfolio composition

Or explore our solutions:

• Crypto Accounting & Reconciliation →
• Audit-Ready Reporting →
• DeFi Protocol Reconciliation →

Frequently Asked Questions

How does NODE40’s DeFi support compare to Bitwave’s?

NODE40 provides protocol-level transaction context with smart contract function tracking, token derivation mapping, and multi-step transaction breakdown. Bitwave offers standard DeFi categorization. If you have complex DeFi positions (liquidity pools, yield farming, lending), NODE40’s detail level is substantially more comprehensive.

Can I migrate mid-year from Bitwave to NODE40?

Yes. We support historical data import and provide dedicated migration assistance. Many organizations run both platforms in parallel during transition periods to ensure continuity.

Does NODE40 support the same blockchains as Bitwave?

NODE40 supports 20+ major blockchains. Bitwave supports 15+. Both cover Bitcoin, Ethereum, and major L1/L2 networks. NODE40’s differentiator is deep integration (especially Solana), not necessarily breadth. Contact us to verify support for your specific chains.

Is NODE40’s regulatory compliance comparable to Bitwave’s?

Yes, and NODE40 typically implements new requirements faster. Recent examples include 1099-DA (same-day implementation) and CARF (early support). Both platforms handle core compliance needs, but NODE40’s regulatory timeliness is a differentiator.

How does NODE40 handle validator accounting?

NODE40 automatically tracks Solana validator rewards across epochs, categorizes commission vs. staking income, reconciles delegation changes, and provides historical performance analysis. This is a unique capability not offered by Bitwave or most competitors.

Last Updated: January 2026