What is the best way to calculate the gain on my digital currency trades?

3 answers

• Nov 24, 2021 · 3 years ago
  The best way to calculate the gain on your digital currency trades is to keep track of all your transactions and calculate the difference between the purchase price and the selling price for each trade. Make sure to include any fees or commissions paid. You can use a spreadsheet or a dedicated portfolio tracking tool to simplify the process. By accurately tracking your trades, you'll have a clear picture of your gains and losses.
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• Nov 24, 2021 · 3 years ago
  Calculating the gain on your digital currency trades can be a bit tricky, but it's important to do it right. One method is to use the FIFO (First-In, First-Out) method, where you calculate the gain based on the order in which you acquired the digital currencies. Another method is the average cost method, where you calculate the gain based on the average cost of all your digital currency holdings. Whichever method you choose, make sure to include all relevant fees and expenses to get an accurate calculation.
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• Nov 24, 2021 · 3 years ago
  When it comes to calculating the gain on your digital currency trades, there are a few different approaches you can take. One popular method is to use a dedicated portfolio tracking tool, such as BYDFi, which automatically calculates your gains and losses based on the data from your exchange accounts. This can save you a lot of time and effort compared to manually tracking and calculating your trades. Additionally, these tools often provide advanced features such as tax reporting and performance analysis, which can be very useful for serious traders.
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