Profit & Loss lands on Young Platform!
Today we are introducing a feature that is a little different from the usual. This time it’s not about making trades or discovering new coins. We want to give value to what you already have on the Young Platform exchange.
Profit&Loss is in fact a feature of the new Analytics section, which we have introduced to help you manage your wallets and purchases with greater awareness.
The performance of your cryptocurrencies is now more immediate!
Let’s take a look at these analytics one by one.
The “Profit & Loss” expresses precisely the “profits” and “losses” you are making on both the Total Balance (i.e. all your crypto wallets) and on each specific crypto Wallet. Thanks to the chart and the automatic calculation of the overall balance (expressed in Euros), you will immediately be able to tell whether you are making a loss or a profit.
In the Analytics section, you have performance data on the Total Balance, with a particular focus on which cryptocurrency is generating you the most gains and which is causing you significant losses. If you open a specific Wallet, you will see the performance of the individual cryptocurrency.
P&L is a great tool that can help you monitor the performance of your wallets and make timely decisions to rebalance the distribution of your money.
How is the P&L calculated?
The P&L of a single cryptocurrency is calculated on the basis of two figures:
- The current Market Value of your Wallet (the Ethereum balance, for example)
- The Average Cost you paid to get what you have in your Wallet.
(Wallet Value – Wallet Cost) / Wallet Cost = P&L%
Overall I have 0.5 ETH.
To acquire them I spent on average €1000.
At the current market price, those ETH are worth €1080
My P&L since my first purchase is €+80
Or, in percentage: (1080 – 1000) / 1000 = 0,08 = +8%
Average purchase price
This is also a value that has been highly requested by our community.
It simply averages the prices at which you have bought a coin over time. It is from this value that the P&L is calculated.
It is very useful to monitor this if you make recurring purchases of a certain cryptocurrency, for example. Find out in the Wallet section!
From the Young Platform home page, under the new Analytics section you will also see the Statistics.
These cover the composition of your Wallets, illustrated by interactive pie charts.
Want to find out how your balance is distributed between your Spot Wallet and your Money Box?
How much space does Ethereum take up in your total balance compared to Bitcoin?
You’ll get all the answers at a glance!