What is the best way to track and calculate gains from trading digital currencies?

3 answers

• Dec 17, 2021 · 3 years ago
  One of the best ways to track and calculate gains from trading digital currencies is to use a portfolio tracker. There are many portfolio tracking tools available online that allow you to input your trades and automatically calculate your gains and losses. These tools often provide detailed reports and charts to help you analyze your performance. Some popular portfolio trackers include CoinTracking, Blockfolio, and Delta. By using a portfolio tracker, you can easily keep track of your trades and have a clear overview of your gains from trading digital currencies.
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• Dec 17, 2021 · 3 years ago
  When it comes to tracking and calculating gains from trading digital currencies, it's important to keep detailed records of your trades. This includes recording the date, time, price, and quantity of each trade. By maintaining accurate records, you can easily calculate your gains by subtracting the cost basis (the total cost of acquiring the digital currencies) from the proceeds (the total value of the digital currencies when sold or exchanged). Additionally, you may want to consider using a spreadsheet or accounting software to help automate the calculations. Remember to consult with a tax professional to ensure you are accurately reporting your gains for tax purposes.
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• Dec 17, 2021 · 3 years ago
  At BYDFi, we understand the importance of tracking and calculating gains from trading digital currencies. Our platform offers a built-in portfolio tracker that allows users to easily monitor their trades and calculate their gains. With our intuitive interface, you can input your trades and view detailed reports and charts to analyze your performance. Our portfolio tracker also integrates with popular exchanges, making it easy to import your trade history. Whether you are a beginner or an experienced trader, our portfolio tracker can help you stay organized and make informed decisions based on your gains from trading digital currencies.
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