Business Daily Media


SME Business News

How does a Cryptocurrency Calculator work?


You probably heard about cryptocurrency calculators, but different types of calculators solve different tasks: quick profit calculations, converting coins, estimating your earnings from mining hardware, etc. Let’s see how each of them works and how you can use them.

Crypto trading profit calculators

The most straightforward way to calculate your profit is as follows:

Subtract the buying price from the selling price and multiply the result by transaction size.

E.g., you buy 2 Bitcoins (BTC) at $17.200 and sell them at a price of $19.800. 2 Bitcoins (BTC) is the size of your transaction.

($19.800-$17.200)*2=$5.200

This means you have $5.200 of profit. But this doesn’t account for fees or other details.

A profit calculator can save time if you often conduct a number of these calculations and reduces the chance of error. We’ll review just a couple of calculators just to show you what they do.

Sabe calculator

Sabe.io is an educational platform that offers a lot of tutorials, classes, and several tools. Among the provided tools you can find a simple profit calculator.

To calculate your profits, you just need to pick a currency, enter the amount and the price that you bought it for. The calculator will then use the current price from CoinMarketCap and calculate how much you gained or lost, depending on how the price has changed since your purchase.

Easy Bitcoin calculator

This is a Bitcoin-only profit calculator, but it is more sophisticated than the Sabe calculator and has more options. There is also a mobile app version.

It can calculate the profit threshold as well as profit/loss, you can choose if you are shorting or going long, and this calculator also includes the commission you pay to the exchange service.

You can search for other calculators online, as well as in mobile stores, and find the one for you.

Convert calculators

These types of calculators are the most widespread. They calculate the amount of one currency you can get for the other. Be it crypto or fiat currency. They will help you out when you need an etn to btc calculator or a btc to usd one. They are easy to find, and their functions are similar, so we’ll only mention the CoinMarketCap calculator as a popular example. Simply enter the amount you wish to convert, and choose currencies you want to sell and buy.

Mining profitability calculators

If you are familiar with mining, you probably know that the factors that affect mining profitability are: the hashing power of your mining rig, power consumption, cost per kWh, and your pool fee.

Mining profitability calculators will help you to get everything right and see which currency is worth your while.

CryptoCompare Calculator

Calculate your mining profit per week, month, or even per year for the most popular coins.

BTC.com Mining Calculator

This calculator offers more options but calculates only the profit of mining BTC. You can add multiple mining rigs, difficulty increases, profit ratios, start and end dates, and other details.

Based on this data BTC.com mining calculator will estimate your profit, total revenue, and total electricity costs.

Cryptocurrency Tax Calculators

After your coins are already bought, sold, and converted, the next stage is using a cryptocurrency tax calculator. These tools are more complex and can really save a lot of time.

CryptoTrader.Tax calculator

This calculator can calculate your gains and losses from trading, mining, or investing. CryptoTrader.Tax calculator uses transaction history from all of your crypto platforms, exchanges, mining pools, etc., to generate your capital gains/losses forms and income reports. Importing your transaction history takes just a few clicks.

You can use these documents to file cryptocurrency information with your tax return. You can also import these reports into platforms like TurboTax.



 

Business Daily Media Business Development

iPhone Security Issues: How you can Secure your Device

A common belief is that iPhones are much more secure than Android devices. The truth, however, is that iPhone vulnerabilities exist and are not negligible. Android is known as the malwar...

TheTechFools.com - avatar TheTechFools.com

When A Forex Trader Should Make Use Of Free Forex Signals Telegram

Both experienced and new traders make use of the Free Forex Signals Telegram to optimize their profits. Beginners will find the signals important since it is easy to get overwhelmed by the t...

News Co Media - avatar News Co Media

Fed up dealing with bad bosses and being over-looked for promotions? So was Victoria Wright

Author, Victoria Wright, used all of her good and bad experiences to find other income and career opportunities, and she has revealed all in her debut non-fiction book, ‘I’m Too Old ...

Tess Sanders Lazarus - avatar Tess Sanders Lazarus

Tripadvisor Plus offers

A New Way to Reach Travelers: Tripadvisor Enables Hotels to Participate Directly in Travel Membership Program for First Time   As summer booking demand grows, Tripadvisor Plus offers acco...

TripAdvisor - avatar TripAdvisor

Writers Wanted



News Co Media

Content & Technology Connecting Global Audiences

More Information - Less Opinion