Diversifying Your Forex Portfolio For Maximum Mining Profits In Manchester City – Manage your portfolio better by calculating your bitcoin and other crypto profits and losses. Here are 3 ways to analyze the performance of your crypto trades.
Whether you’re an investor or a trader, it’s a good habit to keep track of the crypto you’ve bought. Not only can you manage your portfolio better by removing underperforming assets, you can also change your trading or investment strategies to optimize your overall portfolio performance. Calculating your profit and loss is a great way to monitor your portfolio. Read on to learn how you can do this in three different ways.
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Haven’t created your own crypto portfolio yet? Get started today when you join, the world’s largest digital asset exchange by trading volume. We offer a wide range of products to help start your crypto journey. With the knowledge of calculating profit and loss, you will become a successful investor or trader.
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Although it may sound complicated, the ways to calculate how much you have earned, i.e. profit, and how much you have lost, i.e. loss, can be straightforward and involve simple math. We outline three simple ways to do this below.
Transaction-to-Transaction is a method more suitable for active crypto traders. To calculate your profits and losses on a transaction-to-transaction basis, you need to do two things.
*Dates and prices are for illustrative purposes only. They do not represent the actual prices on the dates mentioned below.
*Note that this example will not take into account trading fees to keep the explanation simple. However, traders should consider all trading fees as part of the cost.
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Then you sell 1 BTC for 30 BNB at a time when the price of one BNB token is 250 USD.
Then you sell 30 BNB for 5,000 SAND at a time when the price of one SAND token is 1.8 USD.
Note that your new cost amount for the following trade will be 7,500 USD since this is the cost of 30 BNB.
Your overall unrealized income for the first quarter of the year is 5,000 USD (2,500 USD income + 2,500 USD income). Remember to factor in any trading fees incurred throughout the trades. Note that the unrealized profit, while worth 5,000 USD, is subject to market volatility and will vary according to the price of the assets you hold (in this example, SAND). Your profits will be realized when you sell them for cash. To avoid market volatility and to realize your profits, you should convert your holdings to a stablecoin like BUSD and sell it for cash.
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Year-to-Date (YTD) simply compares the value of your balances at the beginning of the year to the year-end of a calendar year. This particular calculation method is more suitable for long-term crypto investors who HODL .
Note: You will use year-end exchange rates rather than the time of each transaction.
At the end of the year, the price of one SAND token is 2 USD, which means the total value of your portfolio at the end of the year is 10,000 USD.
Unrealized Profit = 5,000 USD (Portfolio balance at the end of the year – portfolio balance at the beginning of the year)
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*This unrealized profit will not be realized until you convert it to a stablecoin like BUSD and cash it.
You can track your performance by viewing your open and closed positions as well. Open positions are trades made when you enter the market, and become closed positions when you make a trade in the opposite direction. For example, if you buy 0.5 BTC, you have an open position. If you sold that 0.5 BTC, it would be a closed position.
In open positions, you can classify your positions in different ways, including short-term, long-term, value and speculative positions. By organizing your positions into different categories, you should get a clearer overview to track performance based on each category, rather than all of your open positions.
For closed positions, you can download them into a spreadsheet and sort the profitable trades from the unprofitable ones using the transaction-to-transaction method mentioned earlier.
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If you don’t have any open or closed positions in the crypto market yet, but you are interested in trying these portfolio tips, you can start building your portfolio today. Before buying any cryptocurrencies, we recommend doing your due diligence and determining your goals—are you looking to trade crypto in the short term or grow your portfolio over the longer term? These decisions will also help you organize how you want to manage your portfolio. It’s easy to learn more about different types of crypto–NFT Coins , Web 3 Tokens , Metaverse Tokens , DAO Crypto , Stablecoins and Layer 1 Blockchain tokens –right now.
Make a fiat deposit via e-wallet transfer or bank transfer to . Be sure to check the available fiat channels for the desired currencies. Check out the in-depth guide on “How to Deposit USD via SWIFT”
Optional: Convert fiat currency to BUSD or USDT so you can trade more different tokens.
Monitoring trading performance is a basic but important habit that can help you become a successful trader. Consider using the calculation methods above to grow your portfolio faster. These methods are flexible and can be tailored to your financial goals and trading or investing style. If you are a day trader, the transaction-to-transaction method may be more suitable for you, while YTD may complement a long-term trader. Interested? Sign up for an account and build your portfolio with today.
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Our study collected and synthesized existing knowledge on portfolio diversification, hedge, and safe-haven properties in cryptocurrency investments. We sampled 146 studies published in journals ranked in the Association of Business Schools 2021 list of journals, considered all fields of knowledge, and elaborated a systematic literature review including a bibliometric analysis. Our results indicate a rapidly growing literature confirming the ability of cryptocurrencies to hedge against stocks, fiat currencies, geopolitical risk, and Economic Policy Uncertainty (EPU) risk; also, that cryptocurrencies exhibit diversification and safe-haven assets; that stablecoins present an unstable peg to the US dollar; that uncertainty is a determinant for cryptocurrency returns. Additionally, we show that investors should consider Gold, along with the European carbon market, CBOE Bitcoin futures, and crude oil to protect against unexpected movements in the cryptocurrency market.
The paper published by Nakamoto (2008) is the precursor of the cryptocurrency market. Today it is known that cryptocurrencies are decentralized digital currencies, which represent a disruption in the traditional financial system (Almeida 2021).
The cryptocurrency market has developed rapidly and is still developing (Białkowski 2020; F. Fang et al. 2021; Li et al. 2021). It fascinates and attracts the attention of individual investors, institutional investors, regulators, and the media, and as such is also an actual and important research topic in many academic fields (Angerer et al. 2020).
Investors have a need to properly manage their portfolios. Empirical research emphasizes the importance of cryptocurrencies’ relationships with other assets (Bouri et al. 2022) and with themselves (Kumar et al. 2022), as well as their volatility traits (Klinkova and Grabinski 2017 ; J. Wang et al. 2022) in portfolio management. Therefore, information on the diversity of assets,
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