Cryptocurrency Q&A
How does koinly calculate crypto profits?
How does koinly calculate crypto profits?
GeishaMelody
Wed Jul 10 2024
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5 answers
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As a keen investor in the world of cryptocurrencies, I'm always curious about how various tools and platforms calculate my profits. Could you elaborate on how Koinly, a popular crypto portfolio tracker, specifically calculates crypto profits? I'm particularly interested in understanding the methodology behind its calculations, whether it takes into account trading fees, deposits, withdrawals, and other relevant factors. Additionally, does Koinly offer any insights or recommendations based on the calculated profits to help investors make more informed decisions? It would be valuable to gain a deeper understanding of Koinly's capabilities in this regard.
5 answers
SolitudeNebula
Fri Jul 12 2024
Its core function is to calculate crypto profits for its users, ensuring accuracy and efficiency in managing portfolios.
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amelia_harrison_architect
Fri Jul 12 2024
Koinly identifies the cost basis, or the fair market value, of each crypto asset, forming a solid foundation for profit calculations.
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Carlo
Fri Jul 12 2024
Koinly, a comprehensive cryptocurrency portfolio tracker, provides users with a detailed analysis of their crypto investments.
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CryptoVisionary
Fri Jul 12 2024
Furthermore, it tracks any subsequent profits or losses resulting from sales, swaps, or spends, giving users a comprehensive overview of their crypto portfolio's performance.
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Giuseppe
Fri Jul 12 2024
Spanning from sales to staking and mining to margin trades, Koinly caters to a diverse range of investment strategies.
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