Just download Delta app and it will do everything for you
using a program is just like counting with calculator: not plain and honest.
Topic: Best way to calculate profits/losses? (Read 210 times)
I'm always marking the price I bought something and when I'm selling I do compile that buy/sell price.
using a program is just like counting with calculator: not plain and honest.
using a program is just like counting with calculator: not plain and honest.
Just make the math (and think) as bitcoin is a product (and it really is) that you bought at a determined price on the past and you can now make a resale at a bigger or slower price.
If you are using USD as your base currency, take the current market price for BTC/USD and multiply that by the total number of BTC you have on balance, then add that to your USD balance to get your total USD balance.
Hey,
Be warned though, if you get Blockfolio you WILL refresh it 10000 times a day.
Just saying.
-Knightly
Be warned though, if you get Blockfolio you WILL refresh it 10000 times a day.
Just saying.
-Knightly
Thank you all for a bunch of valuable answers!... especially you, odolvlobo. (I was thinking math not apps.)
Matt
Matt
I Recommend all beginners download Blockfolio,
before investing save a few cryptos that have potential and watch the market and see how your money would be.
Or if you feel like your ready put some money in and watch it.
Blockfolio really does make the calcuation and conversion really simple and its very easy to use!
(ps. i dont work for blockfolio
)
before investing save a few cryptos that have potential and watch the market and see how your money would be.
Or if you feel like your ready put some money in and watch it.
Blockfolio really does make the calcuation and conversion really simple and its very easy to use!
(ps. i dont work for blockfolio
) 
Say for example, I bought $1000 worth of Bitcoin at $15,000.00.
It goes up to say $16,000.00.
What's the best formula to calculate my notional account balance (excluding transaction fees, to keep it simple)?
Thanks
It goes up to say $16,000.00.
What's the best formula to calculate my notional account balance (excluding transaction fees, to keep it simple)?
Thanks
new balance = old balance x new price / old price
In your example,
new balance = $1000 x $16000 / $15000 = $1066.67
But it might be easier to just keep track of the amount of btc and its value.
btc = sale amount / btc price
Then anytime you want to know how much you have
new balance = btc x new price
In your example, you bought $1000 worth of BTC at $15000, so you have
btc = $1000 / $15000 = 0.06666666 BTC
and the price is now $16000, so your BTC is now worth
new balance = 0.06666666 x $16000 = $1066.67
You can also use coinmarketcap coin history data to track it profitability.
Blockfolio is another fantastic option. Just input the amount of bitcoin you own into the app and it will tell you its present value.
Just download Delta app and it will do everything for you
Say for example, I bought $1000 worth of Bitcoin at $15,000.00.
It goes up to say $16,000.00.
What's the best formula to calculate my notional account balance (excluding transaction fees, to keep it simple)?
Thanks
It goes up to say $16,000.00.
What's the best formula to calculate my notional account balance (excluding transaction fees, to keep it simple)?
Thanks
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