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I bought $30.00 of Bitcoin. The price at that time was $6,896.00. The price now is $8,074.00. How much did I make? And how do I do the math?
How much did I make in profit from Bitcoin rising in price
Answers
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You have not made any money until you have sold your bitcoin. The numbers in the previous answer refer to your unrealised capital gains. Remember that you may have to pay tax on your gains if you do decide to sell and adjust your winnings accordingly.
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30 / 6896 * 8074 = 35.1247099767981
So, you've made a net profit of $5.12., which is (5.12 / 30) a profit margin of 17.06 percent.
For a more indepth answers about realized and unrealized profit/loss for investments, and specifically Bitcoin, check What happens if I buy Bitcoins and the price goes down?
@Badrobot remember to accept this answer if it satisfies your question, don't leave it "unanswered" :) – MeshCollider – 2017-11-21T20:25:46.577
3"It concerns me that people who lack such basic knowledge of economy would invest in a cryptocurrency."– Myridium – anion – 2017-11-21T11:53:45.057
Crazy how you make a comment like that, as if that is supposed to mean something. This is a new market, something like when Wall Street started. By no means should you judge or underestimate anyone. This is not the platform for that. So with that being said. How about teaching someone something. – Badrobot – 2017-11-21T12:03:34.670
@Badrobot, you clearly posted this naive question in hopes that it would get attention, and you could spam the comments with cloud mining links. You have been reported. – Jestin – 2017-11-21T15:12:02.900
Ok didn't mean to offend. Just seen that Bitcoin is back up – Badrobot – 2017-11-21T15:21:05.547
2I'm voting to close this question as off-topic because it is more of a maths or investment question than a cryptocurrency one. – Highly Irregular – 2017-11-22T02:30:21.000
Yeah, also, the rule of three seems to be well covered in other parts of the internet… :p – Murch – 2017-11-22T17:25:51.783