Can you provide a step-by-step guide on calculating profits from trading cryptocurrencies?

1 answers

• Dec 16, 2021 · 3 years ago
  Sure thing! Here's a step-by-step guide to calculating profits from trading cryptocurrencies: 1. Record the purchase price of the cryptocurrency. 2. Take note of any transaction fees incurred during the purchase. 3. Determine the selling price of the cryptocurrency. 4. Consider any transaction fees associated with selling. 5. Calculate the difference between the selling price and the purchase price. 6. Take into account any additional costs, such as taxes or withdrawal fees. 7. Subtract any costs from the profit to get the final net profit. Remember to keep track of your trades and consider using a cryptocurrency portfolio tracker to simplify the process. Happy trading!
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