Hello,
I would like to know what’s The method to calculate gain/loss for altcoin bought with ETh
Thanks al’ For your help
The guy above made equations with words already, but perhaps with variables and some explanations it would be easier for you to understand.
You bought your coins for
x ethereum. Then you sold them for
y eth. As the transaction fees on eth are not very high, we could neglect them, but I see that many exchanges have their own withdrawal fees and that is why we should probably include the fee as
z. To calculate the profit/loss, you do the following:
y - x - z. Thus you get pure sum you gained. If the sum has the minus then you lost the money. If you want to calculate the profit not in the sum of money but in a coefficient (I mean, 2x, 3x etc) then try this:
x+z = 1
y = q (what you want to know)
q= y/x+z
Good luck!