You may need to quickly calculate your trading profits, convert one cryptocurrency to another, or check the potential earnings of your mining hardware. Here is a list of calculators that will help you solve this problem.
Content
- Crypto Profit & Loss Trading Calculators
- Cryptocurrency converters and calculators
- Mining profitability calculator
- Сrypto taxes calculator
Crypto Profit & Loss Trading Calculators
In case you want to know how to calculate crypto profit, you’ll usually need to do a few simple calculations by hand. For example, when you buy 1 Bitcoin (BTC) at $40000 and sell it at $50000, you calculate your $10000 profit. But sometimes, you need trading profit calculators to save time when you need to calculate hundreds of transactions with many variables.
Here is a list of crypto calculators that will help you solve this problem.
1. Sabe calculator
Sabe is a straightforward crypto trading calculator that helps you track your trading gains.
To calculate your earnings, enter one of your coin names, along with the number of coins purchased and the purchase price.
Their data is constantly updated per CoinMarketCap exchange rates, so you can see how much money you’ve made or lost at any given time.
2. Easy Bitcoin calculator
This calculator is a Bitcoin-only solution, but it still allows you to calculate your profits quickly. You must enter the number of coins, in this case, Bitcoins (BTC), as well as the buying and selling prices, just as you did with the previous tool. Unlike the Sabe calculator, you can also include the transaction fees you paid. You can also specify long or short strategies or calculate the fees.
Cryptocurrency converters and calculators
These kinds of crypto calculators are probably the most common solution you’ve seen on the internet. They convert one cryptocurrency to fiat currency or another cryptocurrency.
1. CoinMarketCap calculator
Assume you own a small amount of Bitcoin (BTC) or some other digital asset. In that case, using this calculator to calculate how many Dollars, Euros, Krones, Rubles, and other currencies you have at the current exchange rate is probably the quickest option.
This is also a straightforward converter from one fiat currency to another. All you’ve to do now is input the sum and currency you want to convert and what currency you want to convert it in.
2. Currexy
Currexy is a fantastic tool for figuring out how much your Bitcoin (BTC) investment is worth in different currencies.
Enter the amount of Bitcoin (BTC) you have and see the equivalent amount in USD, EUR, GBP, ETH, LTC, and Dash.
3. Coinmama
Coinmama is another popular online platform for calculating the current Bitcoin price in any fiat currency. The United States dollar is CEX.IO’s default or base fiat currency. It automatically converts and displays Bitcoin prices in other currencies using the corresponding fiat conversion rates. Coinmama does not provide data on the historical trends of Bitcoin value (in the fiat currency of your choice) over time.
Mining profitability calculator
When deciding whether or not to mine a cryptocurrency, you should think about several factors, including your mining rig’s hashing power, power consumption in watts, cost per kWh, and pool fee. This is where mining calculators can come in handy.
1. CryptoCompare calculator
This cryptocurrency mining calculator allows you to calculate your mining profits per week, month, or even year.
You can determine whether the whole thing is worth it by considering the characteristics listed above and adjusting the specific settings to your mining rig.
The mining calculator supports Bitcoin (BTC), Ethereum (ETH), Ethereum Classic (ETC), Monero (XMR), Zcash (ZEC), Dash (DASH), and Litecoin (LTC)
2. BTC.com Mining calculator
In addition to the features listed for the CryptoCompare Calculator, this one allows you to add multiple mining rigs, set start difficulties, increase difficulty and profit ratios.
You can also include the beginning and end dates of the mining process to get an estimate of your total profit, revenue, and electricity costs in USD.
Crypto taxes calculator
Cryptocurrency tax calculators automatically determine how much tax you owe while generating your tax reports. Most crypto tax software helps you calculate your cryptocurrency taxes for each tax year without having to hire a tax professional.
1. CryptoTrader.Tax
This cryptocurrency tax calculator helps you calculate your profits, losses, and tax from any activity, including algo trading, mining, and simple buying and selling. The calculator gathers your historical transactions from all of your crypto platforms, exchanges, mining pools, and other sources. You can access your transaction history with just a few clicks.
You can create capital gains and losses forms as well as income reports after you’ve imported all of your trade data. All of these documents can be used to timely file your cryptocurrency information along with your tax return. These reports can be imported into tax preparation software like TurboTax.
2. Cryptotaxcalculator.io
With its powerful and accurate tax reports, easy-to-understand calculations, and DeFi & DEX trading CryptoTax is one of the best crypto tax calculators for the average investor.
Their platform performs tax calculations with a high degree of accuracy, including complex tax scenarios such as DeFi loans, DEX transactions, gas fees, leveraged trading, and staking rewards.
They also provide a full breakdown of each calculation so you can understand exactly how your taxes have been calculated and what rules have been applied, with customizable rules to support your unique individual circumstances.
3. Crypto.com Tax
Get your crypto taxes done in seconds at no cost with Crypto.com Tax. They provide complete support for Australia, the US, and Canada. Crypto.com Tax integrates with popular exchanges & wallets and it features an easy-to-use interface that gets the job done in no time.
Crypto.com Tax is entirely free for anyone who needs to prepare their crypto taxes. No matter how many transactions you have in the past years, they’ll handle the calculation for you at no cost.
They support API (read-only access) and CSV import for popular exchanges/wallets in Australia, the US, and Canada. If you’re using other exchanges/wallets you can still follow their generic CSV format to get your tax calculation results.
4. Token Tax
This bitcoin tax calculator calculates the capital gains tax on bitcoins based on how long they’ve been held. You must enter the bitcoin’s purchase and sale prices, as well as the holding period.
For example, suppose you purchased bitcoin units for $50,000 in August 2017 and sold them for # 100,000 in November 2018. The duration of the holding period is less than three years. So your gain is $100,000 – $50,000 = $50,000 in short-term capital gains. In most countries when you pay taxes, it is deducted from your taxable salary and you’re taxed according to your tax bracket.
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