Gi Beom GwonDec 26, 2021 · 3 years ago2 answers What are the advantages and disadvantages of using FIFO vs LIFO accounting for tracking cryptocurrency investments?
Can you explain the benefits and drawbacks of using the FIFO (First-In, First-Out) and LIFO (Last-In, First-Out) accounting methods for tracking cryptocurrency investments? How do these methods affect the calculation of gains and losses? Which method is more suitable for long-term investors and why? Are there any specific scenarios where one method may be preferred over the other?