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How To Calculate Cryptocurrency Profit

How To: Calculate Mining Profits 2017/18

How To: Calculate Mining Profits 2017/18

If youve ever heard of cryptocurrencies, youve probably heard of mining. The sole reason most cryptocurrencies can function is due to mining. Without miners, the blockchain cant be validated every time someone wants to make a transaction. If the blockchain doesnt get validated, there is simply no way to know which transaction is legitimate and which is not. Becoming a miner doesnt come without reward, however. There are two things which your reward is based off of. For example, whenever you decide to send some Bitcoin, Ether, or whatever other currency youre using, youve probably noticed the added fee, which can either be listed as a transaction or a mining fee depending on your wallet. This fee gets tacked on to whichever miner cracks the code and completes the block. Though this reward is quite minuscule, the real treat is the block reward, which for Bitcoin is 12.5 Bitcoin equal to an astounding $48,314 USD! One of the benefits in investing a couple hundred, or a thousand into a mining computer instead of into the currency you are eventually going to mine, is the fact that in the very unlikely event that the headline in the morning is United Nations Ban All Forms Of Digital Currencies,you can still sell your mining computer. At a loss nonetheless, but its still better than nothing. However, if you invested that amount into a currency instead, that currency will most likely be worth nothing. Although there still is the chance that the currency goes up by 100% overnight, leaving you in the dust with a mere mining rig. Another benefit is that in case the currency you are mining drops in value, you can easily swap to another coin and regain your profits that way. Take Ethereum for example. One year ago and with a small mining operation, it was very easy to mine 1 or 2 E Continue reading >>

How To Calculate And Pay Tax On Bitcoin Profit?

How To Calculate And Pay Tax On Bitcoin Profit?

How to calculate and pay tax on bitcoin profit? Manoj recently sold a bitcoin for Rs 325,000 which he had purchased few months back, but he is not sure about the tax he has to pay or how this income or a gain needs to be declared in his tax returns. Like Manoj, there are many who had purchased and booked some profit due to the recent market euphoria and are now clueless about handling the taxation part. Lets understand: Is the gains on your bitcoins sale tax free? At this moment, the clarity with respect to how the gains on bitcoin sale would be taxed is not there as our tax laws are yet to include provisions with regards to taxing virtual currencies. But the taxpayer needs to be informed that our income tax laws contain provisions which has the power to include different types of income for taxation purpose. It does not depend in which form you had received that income and it will be tagged under any of the five heads of income as specified under the laws. There are five heads of income under the head salary, house property, capital gains or profit and gains from business & profession and the last one is income from other sources. This last head income from other source includes every sort of income which could not be taken under any other four heads. So, under which head bitcoins profit will be taxed? At this moment, our government and the committee is working on the regulatory laws relating to the bitcoins, and contrary to popular perception bitcoins are not illegal. What it means is that bitcoins or any other cryptocurrencies are not regulated at this moment till the time a notification is issued by the government. So we need to wait for governments directive in terms of regulating all cryptocurrencies and a notification or a rule stating the asset class which bitc Continue reading >>

Trading Calculator | Forex Profit / Loss Calculator | Oanda

Trading Calculator | Forex Profit / Loss Calculator | Oanda

1996 - 2018 OANDA Corporation. All rights reserved. "OANDA", "fxTrade" and OANDA's "fx" family of trademarks are owned by OANDA Corporation. All other trademarks appearing on this Website are the property of their respective owners. Leveraged trading in foreign currency contracts or other off-exchange products on margin carries a high level of risk and may not be suitable for everyone. We advise you to carefully consider whether trading is appropriate for you in light of your personal circumstances. You may lose more than you invest. Information on this website is general in nature. We recommend that you seek independent financial advice and ensure you fully understand the risks involved before trading. Trading through an online platform carries additional risks. Refer to our legal section here . Financial spread betting is only available to OANDA Europe Ltd customers who reside in the UK or Republic of Ireland. CFDs, MT4 hedging capabilities and leverage ratios exceeding 50:1 are not available to US residents. The information on this site is not directed at residents of countries where its distribution, or use by any person, would be contrary to local law or regulation. OANDA Corporation is a registered Futures Commission Merchant and Retail Foreign Exchange Dealer with the Commodity Futures Trading Commission and is a member of the National Futures Association . No: 0325821. Please refer to the NFA's FOREX INVESTOR ALERT where appropriate. OANDA (Canada) Corporation ULC accounts are available to anyone with a Canadian bank account. OANDA (Canada) Corporation ULC is regulated by the Investment Industry Regulatory Organization of Canada (IIROC), which includes IIROC's online advisor check database ( IIROC AdvisorReport ), and customer accounts are protected by the Cana Continue reading >>

Bitcoin Calculator - Investment Return Price Calculator | Bitcoin Ira

Bitcoin Calculator - Investment Return Price Calculator | Bitcoin Ira

The Bitcoin 401k and IRA Comparison Calculator bases it calculations on the spot price for the DOW, Gold and Bitcoin for the period selected, as provided by Blockchain.info, Coindesk, Yahoo! Finance or other third party sources. The Bitcoin 401k and IRA Comparison Calculator also does not factor transaction fees associated with purchasing Bitcoin. Bitcoin IRA does not guarantee that any current or historical information provided by Blockchain.info, Coindesk, Yahoo! Finance, or any other third party sources is accurate. The statements made on this website are opinions and past performance is no indication of future performance or returns. Digital currency, like all investments, carry risk. Bitcoins may appreciate, depreciate, or stay the same depending on a variety of factors. Bitcoin IRA cannot guarantee, and makes no representation, that any investment made will appreciate at all or appreciate sufficiently to make customers a profit. The decision to purchase or sell bitcoin, are the customers decision alone, and purchases and sales should be made subject to the customers own research, prudence and judgment. Continue reading >>

How To Calculate Mining Profitability

How To Calculate Mining Profitability

CoinDesk Launches 2017 Year in Review Opinion and Analysis Series Are you serious about mining cryptocurrencies? If so, you need to know how to make the best use of your money and equipment. In this guide, well show you how to mine your digital treasure in the most profitable way. Obviously, the big money is going into costly bitcoin ASICs. If you arealready in that position, you probably know how the process works and are intending to mine bitcoin. However, those of you on a more moderate budget are probably looking at building a GPU miner for scrypt currencies, or a buying a small ASIC machine for bitcoin or other SHA-256 currencies. In that case, you have come to the right place. The process of mining digital currencies involves solving complex cryptographic puzzles. By doing this, miners are providing proof of work that is rewarded with digital currency. Broadly speaking, there are two proof-of-work hashing algorithms in use today: SHA-256 and scrypt . Note that there are some lesser-used alternatives, which we will not be looking at in this guide (for example, Primecoin ). The SHA-256 algorithm favours raw processing power. In bitcoins very early days, one could mine effectivelywith the CPUs and GPUs (graphics processing units) that you find in a normal home PC. That time has passed, however, and the difficulty level of bitcoin is so high that specialised processors known as Application Specific Integrated Chips (ASICs) are needed to mine it. The use of such powerful processors, alongwith bitcoins exponentialincrease in difficulty level,have created a technological arms race, which means that even quite recently designed chips can quickly become obsolete. The scrypt algorithm favours greater amounts of RAM and parallel processing ability, which is why GPU-based ri Continue reading >>

Calculation Of Profit And Loss

Calculation Of Profit And Loss

Profit or loss is always calculated in the Futures' base currency. For Bitcoin-Dollar Futures and Ripple-Dollar Futures, this is BTC. For Ripple-Bitcoin Futures, this is XRP. For inverse Futures, profit or loss is calculated as: Profit or Loss in Base Currency = ( 1 / Futures Entry Price - 1 / Futures Exit Price ) * Position Size For vanilla Futures, profit or loss is calculated as: Profit or Loss in Base Currency = ( Futures Exit Price - Futures Entry Price ) * Position Size Trading requires a bitcoin deposit to the Bitcoin-Dollar Futures margin account Buy 10,000 Futures at 5,000 USD per bitcoin, sell 10,000 Futures at 6,000 USD per bitcoin. Profit is ( 1 / 5,000 - 1 / 6,000 ) * 10,000 = 0.33 bitcoin Trading requires a Ripple XRP deposit to the Ripple-Dollar Futures margin account Buy 10,000 Futures at 0.25 USD per Ripple, sell 10,000 Futures at 0.30 USD per Ripple. Profit is ( 1 / 0.25 - 1 / 0.30 ) * 10,000 = 6,667 XRP Trading requires a bitcoin deposit to the Ripple-Bitcoin Futures margin account Buy 10,000 Futures at a price of 0.00005 bitcoin per Ripple, sell 10,000 Futures at 0.00006 bitcoin per Ripple. Profit is ( 0.00006 - 0.00005 ) * 10,000 = 0.1 bitcoin Additional trade examples are provided here . Continue reading >>

Whattomine - Crypto Coins Mining Profit Calculator Compared To Ethereum

Whattomine - Crypto Coins Mining Profit Calculator Compared To Ethereum

Using below table, you can check how profitable it is to mine selected altcoins in comparison to ethereum. Please note that calculations are based on mean values, therefore your final results may vary. For best results fill all fields with your hash rate and power consumption. Input Groestl hash rate, not Myriad-Groestl. Default values are adapted for three 480 cards. Continue reading >>

Cryptocurrency Calculator & Converter

Cryptocurrency Calculator & Converter

* Though Cryptonator synchronizes with online cryptocurrencies exchanges every minute, we cannot guarantee absolute accuracy of the displayed exchange rates. You should always confirm current rates before making any transactions that could be affected by changes in the exchange rates. Crypocurrency rates based on the data provided by exchanges APIs. All rates are for information purposes only and are subject to change without prior notice. Since rates for actual transactions may vary we are not offering to enter into any transaction at any rate displayed. Displayed rates are composite prices and not intended to be used for investment purposes. Continue reading >>

How To Calculate Taxes On Your Crypto Profits

How To Calculate Taxes On Your Crypto Profits

Profiting off crypto means making capital gains Reconsider thinking the IRS doesnt care about crypto. Take the IRSs recent legal case against Coinbase, one of the largest cryptocurrency companies in the world. In late 2016, it demanded Coinbases customer records in a bid to investigate potential tax fraud. A year later, a California federal court ordered Coinbase to hand over customer records of anyone transacting $20,000 or more in any year between 2013 and 2015. Why did the IRS want this information? Because it suspected many people incurred tax liabilities on their crypto purchases liabilities that had long gone unpaid. Make no mistake: Cryptocurrency is taxable, and the IRS wants in on the action. Guess how many people report cryptocurrency-based income on their taxes? According to the IRS, only 802 people did so in 2015. Thats a minuscule figure, seeing as 150 million people file a return each year. This means most individuals dont pay taxes on their crypto something that might change as more people are audited by the IRS. According to the US government, crypto isnt a currency. Instead, for most people its a capital asset think stocks, bonds, investment properties and so forth. If youve heard of capital gains and wondered what those are, just think of crypto. Did you buy bitcoin and sell it later for a profit? Thats a capital gain. If you sold it and lost money, you have a capital loss. So, taxes are a fact of life even in crypto. Thats the bad news. But theres good news: Figuring out your tax bill isnt as difficult as it sounds. Which IRS forms do I use for capital gains and losses? Use IRS Schedule D (Form 1040) Capital Gains and Losses and Form 8949 Sales and Other Dispositions of Assets. Calculating your crypto taxes for gains and losses takes just three steps Continue reading >>

Cointracking Bitcoin & Digital Currency Portfolio/tax Reporting

Cointracking Bitcoin & Digital Currency Portfolio/tax Reporting

"If you don't want to keep your own log, use software like CoinTracking.Info." "CoinTracking is the epitome of convenience. No other Bitcoin service will save as much time and money." "CoinTracking is an active participant in the Bitcoin community and quick to support its customers on online forums..." "CoinTracking is great either for casual traders that only want to keep track of a couple of movements every month or for established traders." "CoinTracking is a unified one-stop solution which can provide excellent tracking features across multiple platforms and multiple currencies. Excellent features and great integration with popular digital coins and exchange platforms, this can definitely be a powerful tool that users can take advantage of in better planning and managing their digital currency portfolio." "The sheer amount of offered features is simply staggering, ranging from a multitude of supported crypto exchanges up to keeping the historical charts of variable values of virtual coins over the years. All in all, we were very pleasantly surprised by the CoinTracking platform and we cant wait to see where it all goes from here and what new features they will implement in the future." "CoinTracking is one of the bitcoin communitys most popular trade tracking and tax reporting platforms. Its straightforward to use and supports all coins and all exchanges." "The name CoinTracking does exactly what it says. With a wide range of supported cryptocurrencies including bitcoin, Ethereum, Ripple, and thousands of others filling in those tax forms becomes very straightforward." "Awesome website. As mentioned in the german thread i really like your "easy enter" feature. One of my topused bookmarks" "I love it! Can't wait for the altcoin trading to be included. I have program Continue reading >>

Cryptocurrency Accounting Guide: How Do I Calculate My Crypto Gains?

Cryptocurrency Accounting Guide: How Do I Calculate My Crypto Gains?

Cryptocurrency Accounting Guide: How Do I Calculate My Crypto Gains? By Aziz, Founder of Master the Crypto No responses Home Cryptocurrencies Cryptocurrency Accounting Guide: How Do I Calculate My Crypto Gains? This cryptocurrency accounting guide will take you through a commonly asked question of How Do I Calculate My Crypto Gains? The increased interest and excitement towards cryptocurrencies has resulted in an influx of new money flowing into the cryptocurrency market. However, entering the crypto world is extremely intimidating, especially when youre dealing with a subject matter that is technically complex. With many making a considerable rate of return on their investments, it is vital to understand how we should value our crypto gains (or losses). (See more: 4 Reasons Why Now is the Best Time for You to Invest in Cryptocurrencies ) Cryptocurrency Accounting Guide: How Do I Calculate My Crypto Gains?Powered by Master The Crypto There are generally 2 ways that you can calculate your crypto gains: This method entails valuing your gains or losses using your local currency, with the most common fiat currency being used are United States Dollars (USD), South Korea Won (KRW), Great Britain Pounds (GBP), Euro (EUR) and Japanese Yen (JPY). This is the easiest way to calculate your gains as you will be aware of the value of coins youre buying with your domestic currency. For example, if the current price of Bitcoin is USD $10,000 and youre planning to buy USD $1,000 worth of Bitcoin, youd get 0.10 BTC for your USD $1,000. If the price of a Bitcoin goes up 50% to USD $30,000 each, then your BTC has also increased by 50%, thereby valuing your 0.05 BTC at a great USD $1,500. You would get a profit of USD $500 if you sold a Continue reading >>

Coin Profit On The Appstore

Coin Profit On The Appstore

Coin Profit is the app for automatic calculation of cryptocurrency balance, profit and losses, as well as a source of news and your personal financial assistant. The app is designed to provide live calculation of user's cryptocurrency assets tied to the current prices of bitcoin, ethereum and dollar (or other world currencies). It's only needed to enter the number of your coins: bitcoin, ethereum, monero, ripple, dash and many other cryptocurrencies are supported. Coin Profit automatically calculates their current value and your total balance at any time. Attention: no personal data, keys or wallets are required to use the app. You can enter random data for your balance - it doesn't have to fit your real confidential account. Data on the current value of cryptocurrencies is updated automatically based on the rates of the largest service Market Cap. The app displays the current rates and the corresponding balance of a user's assets. Another function of Coin Profit is the calculation of cryptocyrrency fluctuation over the last 24 hours and 7 days. It provides a convenient graphic and text data for each currency's fall or rise in value. The app supports having several portfolios at the same time, which may be especially useful for investors with diversified assets. Information about personal funds can be collected in the first investment package while data on other (for example - long-term) savings - in the second one. Coin Profit is set to recognize that these are different portfolios - the app will calculate the profit accordingly. - edit/remove portfolio and cryptocurrency - automatically calculate total balance of both all of your portfolios and each of them separately - automatically calculate total profit/losses for all of your portfolios, each of them separately, f Continue reading >>

How To Calculate 'net Profit' Of Alt Coins When Bitcoin Price Drops? : Ethtrader

How To Calculate 'net Profit' Of Alt Coins When Bitcoin Price Drops? : Ethtrader

Welcome to /r/EthTrader | Foundation Tip Jar | Rules | Policy | Mod Logs | Vote Tracking | News Timeline | Education | Comments RECDAO is a meta-community that seeks to provide Ethereum-based tools for improving how we use Reddit. Pre-register and then register your Reddit username on the Ethereum blockchain, vote in the dao, and be awarded community tokens based on your karma in community subs. Please see the FAQ for more details. TECHNICAL ANALYSIS FUNDAMENTAL ANALYSIS DISCUSSIONS DAPP DISCUSSIONS NEWS DAPP NEWS SCAMS WARNINGS TOKEN WARNINGS SECURITY RELEASE DAPP RELEASE EXCHANGES ADOPTION DAPP ADOPTION SENTIMENT STRATEGY METRICS MINING EDUCATIONAL MEDIA LEGACY DAPP ERC20 TOKEN AUGUR ALTETH ALTCOINS COMEDY SUPPORT TOOL You can correct inaccurate link-flair assignments by typing "[AutoMod]" along with the flair name in a top-level comment, e.g. [AutoMod] DAPP-NEWS. All flair names are capitalized, e.g. use [AutoMod] EXCHANGE instead of [AutoMod] Exchange. Two word flairs require a hyphen in between them. Requires 100 comment karma and 1-month account age. If this feature doesn't work, please message the modmail . Continue reading >>

How To Make Profit: Basic Rules For Beginners In Bitcoin Trading

How To Make Profit: Basic Rules For Beginners In Bitcoin Trading

How to Make Profit: Basic Rules for Beginners in Bitcoin Trading Constant variation in price offers an opportunity for investors to make a profit by trading Bitcoin, either as a long term investment or in a speculative short term pattern. There has been a protracted debate on the actual identity of Bitcoin , whether it should be regarded as a currency or a commodity. With reasonable support on each side of the debate based on its inherent characteristics, a huge segment of the ecosystem is of the opinion that Bitcoin can, and should be regarded as both a currency and a commodity. Whatever definition attached to Bitcoin, the constant variation in price offers an opportunity for investors to make a profit by trading the cryptocurrency, either as a long term investment or in a speculative short term pattern. Bashir Aminu, Bitcoin trader and convener of online crypto group Cryptogene, explains the basic Bitcoin trading process as follows: If you buy Bitcoins at one price and then sell them for a higher price, you make a profit of the difference between those two prices, less any commission that you paid. However, if the price goes down, you will be in the uncomfortable position of having to either sell them at a loss or hold and hope the price goes back up while risking higher and higher losses if the price continues to drop. There are two major types of traders in the Bitcoin market , they are long term traders and short term traders. Each of these group of traders are classified by how long they may wish to hold onto a given position of trade. Long term traders are usually involved in studying price trends over long periods of time. This informs their decision to buy and hold Bitcoin also over long periods with the hope of taking profit at a price higher than their origi Continue reading >>

Profit Calculator - Investing.com

Profit Calculator - Investing.com

2007-2018 Fusion Media Limited. All Rights Reserved Risk Disclosure: Fusion Media will not accept any liability for loss or damage as a result of reliance on the information contained within this website including data, quotes, charts and buy/sell signals. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible. Currency trading on margin involves high risk, and is not suitable for all investors. Trading or investing in cryptocurrencies carries with it potential risks. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Cryptocurrencies are not suitable for all investors.Before deciding to trade foreign exchange or any other financial instrument or cryptocurrencies you should carefully consider your investment objectives, level of experience, and risk appetite. Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex and cryptocurrency prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesnt bear any responsibility for any trading losses you might incur as a result of using this data. Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers. Continue reading >>

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