What are the factors to consider when calculating gains from cryptocurrency trades?

1 answers

• Mar 22, 2022 · 3 years ago
  Calculating gains from cryptocurrency trades requires attention to various factors. The purchase price and selling price are obvious factors, but transaction fees should not be overlooked. These fees can eat into your gains, especially if you're making frequent trades. Market conditions and volatility also play a role in determining gains. It's important to keep an eye on the market and adjust your trading strategy accordingly. Lastly, don't forget about taxes. Depending on your jurisdiction, you may be required to report and pay taxes on your cryptocurrency gains. By considering these factors, you can better understand the gains from your cryptocurrency trades.
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