Daily cryptocurrency income report, 2023-02-28

Daily #cryptocurrency income report, 2023-02-28: -$64.17*

Because I traded both $KUJI and $ATOM yesterday, their #ACB ('average cost basis') dragged my income into the red.

I 'lost' money, making money.

*does not include auto-restaked yields nor s- nor x-token gains

Analysis

It is important to note: I don't trade to lose money. I trade, I make money, and the #ACB tells the tax-man I lost ... on 'average.'

Let's take an example arbitrage from this daily Kujira report.

You see in the final two trades, I GAINED a net 2.2 $KUJI for an ROI of 2.01%. But what does #ACB say my gain or loss was? 

#ACB says that, since I sold $KUJI at an average LOSS, my net LOSS was $37 on those two trades.

This, folks, is th 'magic' of accounting.

Let me reiterate:

I GAINED 2.2 $KUJI in those two trades, but #ACB says I LOST $37-worth of assets in trading-at-a-loss.

You WANT to minimize taxable profits in trade while you BUIDL.

#ACB requires you track your portfolio's value from day 1. Worth it? Yes.

This is the way.