Forex trading platform suggests running the crypto calculator for cost evaluation

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Luxembourg-based crypto institution and trading platform Forex Suggest announced on Wednesday the deployment of a cryptocurrency calculator allowing clients to assess the costs of trading cryptocurrencies.

The crypto market has seen several waves of volatile headwinds this year, from the Russian invasion of Ukraine and the collapse of Luna to a liquidity crunch among crypto lender platforms, all showing a trading environment restless in the crypto market.

To have a better calculation and assessment of the cost of trading in the crypto space, Forex Suggest believes that a crypto calculator would be a great tool for investors to study”how much the crypto you used for your purchases could be worth if you kept it” in terms of the registered value of cryptocurrencies, depending on the calculation platform.

According to a Blockchain.News test for example, if an investor bought 1 unit of Ethereum (ETH) on April 8, 2021, the calculator showed that the value of ETH on that date was around $2,000, losing around $400 from the current price. Furthermore, the chart also showed the maximum value of the same amount of ETH at All-Time-High (ATH), which was trading at $4.9,000 on November 10, 2021.

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Source: Forex Suggest

The trading platform suggested that the biggest increase in value over the past two years went to Solana (SOL), rising over $25, an increase of almost 98%. In contrast, Dogecoin (DOGE) saw the second highest rise (95.4%), followed by Polygon (MATIC) in third place (95%).

According to the Forex Suggest press release, the majority of the top performing cryptocurrencies have increased in value over the past two years, with the average increase among the top twenty coins being 51.35%.

Meanwhile, Bitcointhe leading cryptocurrency by trading volume, grew by 61.20% from just over $9,000 per coin to over $24,000.

In terms of increase in value, Unus SED LEO (LEO) recorded a 48.15% increase in June compared to its performance last year, while Shiba (SHIB) recorded an increase in value of more than 11%.

Retail customers can enjoy more options for transactions these days as more and more private businesses are willing to accept crypto as payment. The trading platform suggested that Amazon ranks as the biggest company to accept crypto, scoring nearly $470 billion in revenue in 2021.

While customers cannot directly pay for goods with tokens, they can also redeem retailer vouchers and use them to make purchases.

US telecommunications operator At&T and tech giant Microsoft are following suit. The two sides received over $168 billion in revenue in 2021.

Previously, the trading platform conducted a study showing that Hong Kong is the most crypto-ready economy in the world. In general, the city benefits from a higher number of blockchain startups, with a number of crypto ATMs proportional to population and no capital gains taxation on cryptocurrencies.

Image source: Shutterstock

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