Both Elgato Wave microphones have similarities, but they also have differences. This article compares Wave:1 to Wave:3.
| Wave:3 | Wave:1 | |
| Wave Link Software | Yes | Yes |
| Clipguard | Yes | Yes |
| PC Audio Return Via USB | Yes | Yes |
| Realtime Monitoring | Yes | Yes |
| Enhanced Low Cut Filter | Yes | Yes |
| Headphone Output | Yes | Yes |
| Capacitive Mute | Yes | No |
| Control Dial | Headphone Volume, Input Gain, Mic/PC Monitor Crossfade | Headphone Volume, Mute |
| Max Sample Rate | 96 kHz | 48 kHz |
| Max Bit Depth | 24-bit | 24-bit |
| Capsule Style | Condenser | Condenser |
| Connection | USB | USB |