Calculate your cryptocurrency profits the easy way
Do you dabble in cryptocurrency? Do you know how to make the best profits when making a trade? Calculating your profits can be tricky.
Cryptocurrency is a popular virtual currency that is very valuable. While it is risky because of unpredictable markets, it can yield great profits if your trades are successful. Many cryptocurrency traders use a rate calculator to assess their profits. If you are interested in trading crypto, it is important to know the basics. Click on the links to be redirected to websites that have more information on the value of cryptocurrency trading and how a rate calculator can easily calculate your profits instantly.
How do I calculate my profits from a successful cryptocurrency trade?
As with most financial trades, profits from cryptocurrency exchanges are calculated based on gains and losses. There are 2 fundamental ways in which one can calculate the profit from a crypto trade.
Simple Maths
Profit is the selling price minus the cost price. This gives us the gross profit value. When calculating profits, consider the current market price, exchange fees, and investment charges if you make use of an investment company to conduct trades on your behalf.
You’ll also incur fees if you use a cryptocurrency exchange for your trades. These extra fees will need to be deducted from the gross profit to get the actual net profit value.
Profit Calculators
These rate calculators are used by crypto traders to calculate their gains and losses in mere minutes. There are 2 popular calculators that most traders use to calculate their profits from cryptocurrency exchanges.
- The Sabe Calculator – It is a fairly straightforward process to calculate your profits with the Sabe Calculator. Input the cryptocurrency you purchased, the number of coins or tokens, and the cost price of the coins. The Sabe calculator will calculate your gains based on the prices of the current market.
- The Easy Bitcoin Calculator – Bitcoin is one of the most popular cryptocurrencies that are traded today. This calculator calculates profit and loss for Bitcoin investments and trades. You simply enter the cost price of the Bitcoin, the price you are selling it for, and the number of coins that you are selling. You can calculate your profits with or without the transaction fees.
How do I choose a cryptocurrency profit calculator?
Choosing a cryptocurrency calculator is based on numerous factors. While some consider the trade or transfer fees associated with trading cryptocurrencies, others do not. Identify what you need from a cryptocurrency profit calculator and research the options available to you. Read the terms and conditions, check if it is a free or paid-for service, and read reviews. Reading reviews is an extremely useful tool to make sure that you are choosing the best calculator to accurately determine your profits from successful crypto trades. Feedback from previous customers can help you identify which calculators are great and which should be avoided. Speak to someone you know who participates in cryptocurrency trading and mining and ask them for recommendations on which calculator is the best to use to determine your profits.
