How can I calculate the market value and cost basis of my digital currency holdings?

3 answers

• Dec 29, 2021 · 3 years ago
  To calculate the market value of your digital currency holdings, you need to multiply the current price of each currency by the amount you hold. Add up the market values of all your currencies to get the total market value. To calculate the cost basis, you need to know the price at which you bought each currency. Multiply the purchase price by the amount you bought and add up the cost basis of all your currencies. Keep in mind that market values can fluctuate, so it's important to regularly update your calculations.
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• Dec 29, 2021 · 3 years ago
  Calculating the market value and cost basis of your digital currency holdings is essential for tracking your investment performance and tax reporting. You can use various tools and platforms to simplify the process. Some popular options include CoinMarketCap, CoinGecko, and portfolio tracking apps like Blockfolio. These tools provide real-time price data and allow you to input your transaction history to calculate the market value and cost basis of your holdings automatically.
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• Dec 29, 2021 · 3 years ago
  At BYDFi, we understand the importance of accurately calculating the market value and cost basis of your digital currency holdings. Our platform offers a comprehensive portfolio tracking feature that automatically calculates the market value and cost basis of your holdings based on real-time price data. You can easily view and export this information for tax reporting purposes. Sign up for a BYDFi account to take advantage of this powerful tool and stay on top of your digital currency investments.
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