How can I calculate my crypto returns accurately?

3 answers

• Dec 20, 2021 · 3 years ago
  Sure! Calculating your crypto returns accurately is essential for tracking your investments. Here's a step-by-step guide: 1. Start by gathering all your transaction records, including buy and sell orders, deposits, and withdrawals. 2. Calculate the cost basis of each cryptocurrency by summing up the total amount spent on purchasing it, including fees. 3. Determine the fair market value of each cryptocurrency at the time of acquisition and sale. You can use reputable cryptocurrency price tracking websites for this information. 4. Calculate the capital gains or losses for each transaction by subtracting the cost basis from the fair market value. 5. Sum up the gains and losses to get your overall crypto returns. Remember to consider any applicable taxes and consult with a tax professional if needed. Happy calculating!
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• Dec 20, 2021 · 3 years ago
  Calculating crypto returns accurately can be a bit tricky, but it's important for evaluating your investments. Here are a few tips: 1. Use a reliable portfolio tracking tool or spreadsheet to keep track of your transactions and their values. 2. Make sure to include all fees and expenses associated with your trades. 3. Consider using a weighted average cost basis method for calculating gains and losses. 4. Keep track of your transactions in real-time to ensure accuracy. By following these tips, you'll be able to calculate your crypto returns more accurately and make informed investment decisions.
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• Dec 20, 2021 · 3 years ago
  Calculating your crypto returns accurately is crucial for understanding your investment performance. At BYDFi, we offer a comprehensive portfolio tracking feature that automatically calculates your returns based on real-time market data. Simply connect your exchange accounts and wallets to BYDFi, and our platform will handle all the calculations for you. You can also generate detailed reports and export your data for tax purposes. Sign up for a free account on BYDFi and start accurately tracking your crypto returns today!
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