What is the best method to determine the gain or loss of my digital currency holdings?

3 answers

• Patel GrishmaJul 15, 2022 · 3 years ago
  One of the best methods to determine the gain or loss of your digital currency holdings is by using a portfolio tracker. These tools allow you to input your transactions and holdings, and they automatically calculate the profit or loss based on the current market prices. Some popular portfolio trackers include CoinTracking, Blockfolio, and Delta. By using a portfolio tracker, you can easily keep track of your investments and make informed decisions based on the performance of your holdings.
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• Kamil ChmielowskiAug 01, 2022 · 3 years ago
  Calculating the gain or loss of your digital currency holdings can be a bit tricky, but it's not rocket science. You can start by keeping a record of all your transactions, including the purchase price, date, and quantity of each digital currency. Then, you can compare the current market price of each currency with the purchase price to determine the gain or loss. Don't forget to take into account any transaction fees or taxes that may have been incurred. If you have a large number of transactions, using a spreadsheet or a dedicated software can make the process easier and more accurate.
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• Luke SteventonOct 24, 2021 · 4 years ago
  At BYDFi, we understand the importance of accurately determining the gain or loss of your digital currency holdings. That's why we have developed a comprehensive reporting system that allows our users to easily track their investments. Our platform automatically calculates the profit or loss based on the current market prices and provides detailed reports for each transaction. With BYDFi, you can have peace of mind knowing that your investment performance is accurately measured and reported.
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