Profit/Loss calculation for Altcoins:

If you are trading Altcoins and you want to calculate your Profit/Loss you need to either keep track of all the prices(Price you bought the coin for in Bitcoin and $ price) or you can use a handy tool called “Waybackmachine”.

This tool is free to use and works like this:

You can put in any website and click on search. It will then show you snapshots of this paricular website at different points in time in the past.

I have put in coinmarketcap.com to get the actual worth of a coin back in time.

Of course you need to keep track when(date) you bought the coin to be able to find the right date. If you do, it really helps for profit/loss calculations.

For example:

I bought 600 XRP on August,3rd,2017. The price per coin was 17 cents/6332 Satoshi.

Today, on Oct, 10th,2017 XRP trades at 27 cents per coin – but the Bitcoin value per coin is only 5886 Satoshi. Eventhough the price fell fromĀ 6332 to 5886 Satoshi, I made me a $ profit.

You need to take that into consideration for your profit/loss calculations.

Have fun playing with this tool. Waybackmachine

If you don`t use the tool I sugget you take note of these particular data:

# Date when you buy or sell a coin.

Tip:

You can alos find this information in your order history in the exchange where you trade or

You can go to coinmarketcap.com, Put in the coinname and then click on the historical data tab.

# Price per coin in Bitcoin

# Price of Bitcoin when you buy in $

# Price per coin in $

# Amount of coins you have purchased

 

I just found out another way to get historical data:

Go to coinmarketcap.com, click on the coinname you want to check out – for example – click on Ethereum. Then you will be redirected to a new window.

Here you want to click on the tab “Historical Data” And voila – here we go. You will find all the prices per day – open, high, low and closing prices!

This is very helpful.