How does Webull calculate the cost basis for cryptocurrencies?

3 answers

• B ZMar 08, 2022 · 4 years ago
  Webull calculates the cost basis for cryptocurrencies by using the average cost method. This means that they take the total cost of all your cryptocurrency purchases and divide it by the total quantity of coins you own. This method is commonly used in the industry and helps to provide a fair and accurate representation of your investment's cost basis.
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• faysalDec 16, 2023 · 2 years ago
  When it comes to calculating the cost basis for cryptocurrencies, Webull takes into account all the purchases you have made and the prices at which you bought them. They then calculate the average cost per coin based on these transactions. This method ensures that the cost basis reflects the average price you paid for your cryptocurrencies, which can be helpful for tax purposes and tracking your investment performance.
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• danielle lingaMay 25, 2021 · 5 years ago
  Webull, like many other platforms, calculates the cost basis for cryptocurrencies using the average cost method. This method is widely accepted and provides a fair representation of your investment's cost basis. It takes into account all your purchases and calculates the average price per coin. This helps to smooth out any fluctuations in the market and provides a more accurate reflection of your investment's value.
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