When trading crypto, sometimes traders have to calculate the potential profit quickly. In order to avoid mistakes, you need crypto calculator which serves to simplify the calculation process.
If you’re still a beginner, using the bitcoin calculator and other cryptocurrencies is actually quite easy. However, novice traders may find it difficult to use the calculator. To find out more about crypto calculators and how to use them, see the following review.
Definition Crypto Calculator
Crypto Calculator is a calculator application specifically for calculating virtual currencies including Bitcoin. This program can also function as a convert from one cryptocurrency to another, including fiat currency.
By using this calculator, traders can find out the potential profit that you can get. The faster the calculation, the more likely it is to profit from the transaction.
There are several types of crypto calculators that you can use during the trading process, including:
1. Profit Calculator
This type of calculator serves to simplify the calculation of the potential profit from selling Bitcoin and other cryptocurrencies. Many professional traders use this application to save time and energy.
Examples of profit calculators that you can find on the market are Sabe Calculator and Easy Bitcoin. Each of these applications offers a simple calculation feature to make it easier to calculate the profit that you can get.
2. Conversion Calculator
This calculator provides a practical solution for converting one currency to another, including from crypto to fiat. With the help of this calculator, traders can perform calculations more accurately.
Some examples of conversion calculators are CoinMarketCap and Currexy. Both applications make it easier for traders to find out the amount of crypto assets in fiat currencies such as USD, Euro, and many more.
3. Mining Calculator
As the name implies, this type of calculator is widely used in the cryptocurrency mining process. Mining calculators are very useful to help miners make a choice between mining or not mining with various considerations such as pool and electricity costs.
Mining calculators that are widely used by minerals are CryptoCompare and BTC.com. While CryptoCompare makes it easy for miners to calculate the profit from mining weekly or monthly, BTC.com has more complex features with the ability to add rigs.
4. Crypto Tax Calculator
This calculator is here to help traders calculate the amount of tax they have to pay. Traders can get tax reports automatically, which saves time and energy if you compare them to calculating them manually.
CryptoTrader.Tax calculator is an example of a crypto tax calculator that is widely used by traders. This application makes it easy to calculate profit, loss and income from all crypto activities.
How to Use the Conversion Calculator
The conversion calculator is one of a kind crypto calculator which is easy for us to use. Here are some steps on how to convert crypto currency to fiat currency.
- Open the calculator app.
- Enter the value of the cryptocurrency you want to convert into the field provided. There is also another column that will show the value of the cryptocurrency in the target currency, for example USD.
- After entering the cryptocurrency value, click the Change or Calculate option.
- Without a long wait, the target currency column will show the result. That’s the amount of fiat currency equivalent to the amount of cryptocurrency you’ve entered.
After knowing a lot about crypto calculators, you may be interested in learning something else about cryptocurrencies. Visit Media Authority, the leading crypto site in Indonesia and gain insight into the ins and outs of the cryptocurrency world.