Gi Beom GwonMar 16, 2022 · 3 years ago9 answersWhat are the advantages and disadvantages of using FIFO vs LIFO accounting for tracking cryptocurrency investments?
Can you explain the benefits and drawbacks of using the FIFO (First-In, First-Out) and LIFO (Last-In, First-Out) accounting methods for tracking cryptocurrency investments? How do these methods affect the calculation of gains and losses? Which method is more suitable for long-term investors and why? Are there any specific scenarios where one method may be preferred over the other?