Finance 01: Learn How to Calculate Crypto Profit and Loss
canvas designAs a crypto trader or investor, it is very important that you know how to calculate crypto profit and loss of your portfolio. With the help of crypto tools like Crypto profit calculator, you can be able to calculate and track your Investment and know the amount of returns you are getting weekly, monthly ,or yearly based on how far you want to be tracking your Investment.
By tracking your crypto profits and losses, it will be so easier for you to manage your portfolio more efficiently since you have already you the amount of profits or losses you're getting for your Investment. Don't worry how crypto profit calculator works as I have simplified it in this post for you. Now with the help of crypto profit calculator, you will be able to identify and remove the assets that are not bringing you profits and invest on the assets that can generate your profit.
| What is crypto profit calculator? |
|---|
Crypto profit calculator is a tool that allows you to calculate the potential profit or loss from your investment. With the help of crypto profit calculator you can be able to determine the profit/loss you have to make from your investment like STEEM, Bitcoin, Ethereum, TRX, Dogecoin, Shiba Inu and many other cryptocurrencies.
| How to use crypto profit calculator |
|---|
Now, at this point, I have detailed out how you can be able to calculate your crypto investment with the help of crypto profit calculator.
In order for you to effectively calculate your crypto investment like knowing your profit/loss, simply follow the steps below.
Step1:
Select the local currency (fiat) that you're, using for trading. At this point, you have to choose the fiat, then click on the currency drop-down button and search for your desire currency. You can as well the name of the currency in the search bar and the click on it to select as shown below on the screenshot where I have selected USD.
Step 2:
At this step, select the currency that you want to calculate. Click on the cryptocurrency drop-down button and search for the crypto that you want, or type the name of the cryptocurrency in the search bar.
Step 3:
Now, at this step, you will then have to enter the amount of fiat currency that you invested. Example let's say that you invested $500 in STEEM. At this point, you can enter the amount by unit of cryptocurrency instead of you entering the amount in your local currency (fiat).
Step 4:
In the first crypto price filed, you have to enter the price of the crypto when it was bought.
Step 5:
In the selling crypto price filed, you have to enter the price of the crypto when it was sold.
Step 6:
The Investment Fee is where you have to enter the fee (in percentage) that was charged by the crypto exchange for buying the cryptocurrency.
Step 7:
The Exit Fee is where you have to enter the fee (in percentage) that was charged by the crypto exchange for buying the cryptocurrency.
| How to Calculate Crypto Gains/Profit? |
|---|
In calculating your profit or loss there are different ways of calculating profit and the best known way is subtracting your sell figure from your buy figure. However, below are the ways that we can look into in our next post.
- Profit from earn from opening and closing positions
- Transactions wise calculation
- Year to date
- Percentage Profit.
For now these are the ways that I know, and by the grace of God we shall look at them on our next post. To be continue..... Thank you for stopping by.
Click Here Cc : @pennsif | @stephenkendal |
Thank you, friend!
I'm @steem.history, who is steem witness.
Thank you for witnessvoting for me.
please click it!
(Go to https://steemit.com/~witnesses and type fbslo at the bottom of the page)
The weight is reduced because of the lack of Voting Power. If you vote for me as a witness, you can get my little vote.
We support quality posts anywhere and any tags.
Curated by : @sduttaskitchen
Thank you so much @sduttaskitchen, for supporting me.