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In case you wish to know the ways that are involved in calculating crypto profits, you will generally need to do some easy calculations by hand. But there are times when you will require trading profit calculators and the calculating procedure of each crypto is different. So in this article, we will get some ideas about the Cardano Profit Calculator.
How To Use Crypto Profit Calculator Tool?
You can use a crypto future profit calculator for calculating the potential profit or loss from your digital currency investments such as Ethereum, Bitcoin Profit Calculator, Shiba Inu, Dogecoin Profit Calculator, Cardano, Solana, and many more. Following the steps of a crypto staking calculator will help you to calculate the profit or loss that you have earned from your crypto.
Step 1: Select the fiat currency that you employed for trading exchange or purchasing digital currency. Tap or click the currency drop down button to look for the currency that you wish for. Just type the name of the currency in the search area. Then choose the currency. For instance USD.
Step 2: Select the digital currency that you bought. Tap or click the digital currency drop-down button to look for the currency that you wish. Just type the name of crypto in the search area.
Step 3: In the ‘Investment’ area enter the amount in fiat that you invested. For instance $1000.
Step 4: In the ‘Initial Crypto Price’ area, enter the value of the digital currency when you bought the crypto.
Step 5: In the ‘Selling Crypto Price’ field, put the price of the crypto when you sold the crypto.
Step 6: In the ‘Investment Fee’ space, enter the charge that your exchange alters for purchasing or trading the crypto.
Step 7: In the ‘Exit Fee’ field, insert the fee that your exchange changes for selling or trading the crypto.
Step 8: Ultimately, your profit or loss for your investment will be shown on the screen.
Cardano Profit Calculator: A Detailed Understanding
Cardano Profit Calculator or you can call it Cardano ROI Calculator is a convenient tool to measure how much profit you would have made if you had invested in ADA (Cardano) in the past. This helps you to calculate the ROI (return on investment) of Cardano (ADA). The Cardano PIP calculator is also a good choice. ‘Pip’ stands for ‘point in percentage’. It is the calculation of movement in the exchange rate between the two coins. But before we get into the Cardano Profit Calculator, let us know about this crypto in a gist.
What Is Cardano (ADA)?
Cardano is among the largest digital currencies by market cap. It is designed to be a next-gen development of the Ethereum idea along with a blockchain that is a sustainable, flexible, and scalable platform for operating smart contracts, which will enable the development of a broad range of decentralized finance (DeFi) applications, games, latest crypto tokens, and many more. At the time of writing this, the Cardano price is 0.89 USD.
As of March last year, however, smart-contract operations have yet to be rolled out by developers. An upgrade that was scheduled for the second quarter of 2021 unlocked the smart-contract features, taking Cardano one step closer to its aim of offering developers with a blockchain exchange that is secure, scalable, robust, and highly energy-efficient.
Much like the native cryptocurrency of the Ethereum blockchain that is ETH, the native cryptocurrency of the Cardano blockchain is ADA — which can be sold or bought through crypto exchanges like Coinbase. Presently, ADA can be used for storing value, receiving and sending payments, and for paying and staking transaction fees on the Cardano network. Now that you have known about this crypto, let us understand the working of the Cardano Profit Calculator.
How does Cardano Profit Calculator Works?
This Cardano Profit Calculator utilizes a simple mathematical principle to measure the ROI of ADA. It catches the historical Cardano price from the database and compares it with the present Cardano Price and calculates the profit or loss made on it.
It does this simple calculation to receive the amount Cardano you would have got by investing x$’s on that day ($x/price of Cardano). Now it measures the present value of that amount in USD (present Cardano price X amount of Cardano bought in the past). Now the return on investment (ROI) is measured by dividing the amount in USD today by the amount invested and multiplying that amount by 100.
Mathematical Logic Behind The Cardano Profit Calculator:
$invested_USD = USD invested in past date;
$historical_ADA_price = Price of ADA in last date;
$quantity_ADA = Quantity of ADA in past = $amount invested or $price_on_that_day;
$price_ADA = Present value of ADA;
$USD_today = ($price_ADA * $quantity_ADA) – $invested_USD;
$ROI = ($USD_today/$invested_USD)*100;
And if you wish to check the future value of Cardano you can check for various Cardano price predictions. These predictions are dependent on several algorithms levied on the historical value of the ADA.
Wrapping Up
You may be required to quickly measure your trading profits, change one digital currency to another, or check the potential profit of your mining hardware. Several cryptocurrencies have several ways to do so, and in this article, we have discussed the Cardano Profit Calculator that makes calculating your profit or loss for ADA convenient.
