How to use FIFO and LIFO methods in calculating profits for cryptocurrency trading?

1 answers

• Dec 26, 2021 · 3 years ago
  As an expert from BYDFi, I can tell you that our platform supports both FIFO and LIFO methods for calculating profits in cryptocurrency trading. We understand the importance of accurate profit calculations and provide tools to help our users easily calculate their profits using these methods. Our platform also allows users to generate reports for tax purposes, making it easier to comply with tax regulations. Whether you choose to use FIFO or LIFO, it's important to keep accurate records of your trades and consult with a tax professional to ensure compliance with tax laws.
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