# How To Calculate Crypto Profits: 3 Best Ways

The whole point of entering the crypto market is the potential profit. Still, crypto investments can get pretty complicated if you don’t keep careful records and put the numbers together correctly.

*Disclaimer: This is for informational purposes and is not meant to serve as financial or investing advice.*

The crypto market has a lot of volatility, regardless of your chosen digital asset or the number of coins you have invested. To see substantial trading profits, you must make intelligent cryptocurrency investments.

Allow us to present the three best ways to calculate your crypto profit. Once you have everything organized, you’ll have to think of what you’ll do with your earnings!

**How Can You Calculate Crypto Profits? 3 Best Ways**

The three best ways to calculate your cryptocurrency profit are using a spreadsheet, knowing your formulas, and using a crypto profit calculator.

Let’s examine each one with a little more detail.

**1. Use a Spreadsheet**

You can download spreadsheets that have already been set up for you. They’re not hard to find online.

One example is cryptosheets.com, which offers add-ins for Excel and Google Sheets. Or simply search for “crypto profit spreadsheet” and look through the numerous options.

This doesn’t have to be complicated; it just has to keep you organized so you know where you stand from a profit-loss perspective.

**2. Know Your Formulas**

This one is a little more technical, but it’s important. Here’s a simple formula:

- Subtract the buying price from the selling price.
- Now, take that number and multiply it by the transaction size.
- Here’s an example: Let’s say you purchase two Bitcoins at $17.200 and sell them for $19.800.
- Your transaction size is two Bitcoins.
- (19.800-17.200)*2=5.200.

So you’ve made $5.200 of profit. Of course, that was a simple example. And that formula doesn’t take into account fees and other details. So, let’s look at another formula.

This one can help you track your cost basis, which is the token's price on the day you took possession of it.

For this, you’ll need to account for transaction fees, brokerage commissions, and other relevant fees paid when you bought or sold it.

And here’s the simple formula for it: (Purchase Price + Fees) / Quantity.

For example, suppose you put $150 into Bitcoin for $6,537 with a 1.49% transaction fee.

Here’s how you would figure out your costs basis:

Your total purchase price of $152.24 ($150 + 1.49%*150) divided by 0.023 ($150/$6,537) — or $6,619 per BTC.

If you look at it, it’s not too complicated. It just takes a little critical thinking and attention to detail. Of course, only some people are fans of math. And if you want to make things easier, consider enlisting technology.

**3. Use a Crypto Profit Calculator**

These are easy to find online. All you need to do is:

- Head to the search engine of your choice and type in “crypto profit calculator.”
- Watch the endless options and pick your profit and loss calculator.

For example, CryptoProfitCalculator.com is an option.

Of course, there are various ones. Let’s talk about some of them:

**Easy Bitcoin calculator:**As the name implies, this one is only for Bitcoin. It does have a mobile app version, which is handy.**Convert calculators:**These are the most common. Again, the name spells it out —they calculate the amount of one currency you can get for another.**Mining profitability calculators:**This is for miners to help them organize costs related to hashing power, power consumption, price per kWh, and pool fees.**CryptoCompare Calculator:**This helps you determine your weekly, monthly, and annual mining profit for the most popular currencies.**Cryptocurrency Tax Calculators:**Taxes aren’t the simplest thing. These can help! For example, the CryptoTrader. A tax calculator can help you map your gains and losses from trading, mining, or investing.

There’s no shame in using a profit and loss calculator. We encourage it when figuring out how you’re doing in the crypto world!

There are plenty of services to help you figure out your cryptocurrency profit.

Questions popping into your head? Shoot us a message!

**Can You Calculate Crypto Profits on Your Own?**

Yes, you can do it on your own. Allow us to offer some tips to guide you along the way. Let’s dig into a few strategies.

**Subtract Your Buying Price From Your Selling Price**

As we mentioned above, when discussing formulas, you can get the big picture of what your profits look like by keeping the math simple:

Subtract the buying price from your selling price.

Of course, this only gives you a “big picture” view of everything. Remember, there are fees and other aspects that could impact that number.

But still, it’s a start.

**Calculating Crypto Profit Percentage**

There’s a reasonably easy way to calculate your crypto profit percentage. Just multiply your initial purchase price by the percentage by which you want to make a profit.

For example, if you’re trying to make a profit of 20%, just take the purchase price and multiply it by 1.2.

**How To Track Unrealized Gains**

First, let’s define the term unrealized gain. (Also known as unrealized profit)

First, we need to start with “realized” gain. Whenever you part ways with a crypto asset (selling or using it to buy something), that’s “realized.”

An unrealized profit or loss is when the value of your asset has either increased or decreased — but you still have it. You have yet to sell it.

**Creating a Crypto Trading Spreadsheet**

While we shared various tools you could use earlier, you can also create your spreadsheet to track profits and losses for your crypto holdings.

Countless people have Microsoft Excel, Google Sheets, Numbers, or a similar spreadsheet program. We’re sure you do too.

Divide it up into sections that you can easily read, and understand. For example, sections could be organized into the following:

- Names of currencies/coins you have traded
- The amount spent on purchasing coins
- The amount earned selling coins
- Dates of trades
- Other related expenses

Another option is to look at other professional spreadsheets and emulate those. There’s no need to reinvent the wheel.

Let’s circle back to those crypto calculators. While we gave you a decent list, perhaps as a novice, there’s a simple question you want the answer to:

**What Are the Best Crypto Profit Calculators for Beginners?**

Perhaps you’re reading this and thinking, “Look, just point me in the direction of something simple. I’m new here, and if you send me somewhere that’s too complicated, I’m going to burn out quickly.”

We get it.

Figuring out your cryptocurrency profit doesn’t have to be complicated. Check out these options.

**1. Coinmash Calculator**

Coinmash is a site that shares news surrounding Web3, NFTs, and DeFi. They also have a free, easy-to-use crypto calculator.

Here’s a cool feature: You can use it as a “time machine” or “what if” predictor. What would happen if you purchased a particular asset on a specific date?

Here’s how it works, according to their website:

*The crypto profit calculator fetches BTC's live (current) and historical (purchase) prices using the **CoinGecko API**.*

*The calculator takes these token prices and runs them through the formula below to calculate the investment's ROI (profit/loss) percentage and how much it is currently worth.*

*Formula:*

*$capital = Amount of capital invested*

*$buy_price = Initial price of token (on date of purchase)*

*$sell_price = Sold price of token (on date of sale)*

*$tokens = $capital / $buy_price*

*$profit = ($tokens * $sell_price) – $capital*

*ROI (%) = ($profit/$capital) * 100*

**2. Cryptoprofitcalculator.com**

This is another great crypto calculator that’s relatively easy to use. Here’s a preview of the instructions that appear on the page:

**Step 1: **Choose the fiat currency you used to trade, exchange or buy cryptocurrency. Click the currency drop-down button to search for the currency you want. Just type the currency name in the search field. Then click the currency to select it, for example, USD (United States Dollar).

*(Let’s pause there a moment. For the uninitiated, Fiat currency is legal money where the value is tied to a government-issued currency, like the U.S. dollar. Now on with the show.)*

**Step 2: **Choose the cryptocurrency that you bought. Click the cryptocurrency drop-down button to search for the currency you want. Just type the name of the crypto in the search field.

**Step 3: **In the ‘Investment’ field, enter your invested amount (fiat) — for example, $1000. (Alternatively, you can click the ‘By Unit’ toggle switch to enter the Unit of cryptocurrency instead of the fiat amount. For example, 1.06 BTC)

**Step 4:** In the ‘Initial Crypto Price’ field, enter the price of the cryptocurrency when you purchased the crypto.

**Step 5:** In the Selling Crypto Price’ field, enter the price of the cryptocurrency when you sold the crypto.

**Step 6:** In the ‘Investment Fee’ field, enter the fee (in percentage) that your exchange changes for buying/trading the crypto. Most exchanges, such as Binance or Coinbase, impose a trading fee.

**Step 7:** In the ‘Exit Fee’ field, enter the fee (in percentage) that your exchange changes for selling/trading the crypto.

**Step 8:** Finally, your profit or loss for your investment will be displayed on the screen.

**3. The ProfitCalc App**

This one is slightly different because it’s not a website — it’s an app! It helps keep things simple and does the heavy lifting for you.

Special note: This one costs money. It’s $39 per month but comes with a 15-day free trial. The listed features are:

- Skip the spreadsheets and get automatic calculations with profit analysis.
- Advanced accounting, insights, and metrics all in one easy-to-read dashboard.
- Syncs with Facebook, Google, Bing, Tik Tok, Snapchat, and Pinterest ads.
- Integrates with Aliexpress, CJ Dropshipping, and your "cost per item."
- Uses historical currency rates along with real-time exchange rates.

Give it a look and see if it’s the right choice for you. Perhaps it will help you make your organization more straightforward.

Now, let’s ask an obvious but important question:

**Why Do We Calculate Crypto Profits and Losses?**

It’s essential to ensure you use the right strategy to make significant gains in cryptocurrency. You could waste your money without realizing it if you don’t track your profits and losses.

Tracking these numbers can tell you if you’re moving in the right direction.

Regardless of their chosen crypto exchange or the current market price of the coins in their crypto portfolio, crypto investors are looking to profit from their cryptocurrency trading.

One way to make sure you have a winning strategy is to use our investing app that helps you automate investing in stocks and crypto-currencies by building a portfolio of "strategies" or rules for when to buy and sell.

With Pluto, you can quickly build a portfolio of strategies to watch your investments and make better decisions with your own rules, like if Bitcoin dips below $20k, then buy.

**Takeaways**

There are several tools and means of calculating your crypto profits. They include using a spreadsheet, knowing your formula, and using a crypto profit calculator.

Keeping track of how you’re faring in the market is essential to ensure you have a winning strategy. Our investing app can make a positive impact on your cryptocurrency profit.

While there are various tools to help you track everything, you can also do a lot yourself. Make sure you keep up with the required knowledge to get started, and you should be fine.

But we’re always here to help.

Now, make a cryptocurrency profit!

**Sources:**

How does a Cryptocurrency Calculator work?