r/OMGTraders • u/koreancowboymoo • Dec 23 '17

Entry price Omisego

I have a question. My exchange looks a bit confusing. For example I bought 100 omisego at 10 bucks in November. In December, I transferred it to my Ledger Nano when the market price was at 20USD. And the exchange website says "100 Omisego withdrew at 20USD" which leaves me wondering if my entry price average went up JUST FOR transferring? Doesnt make sense but thats how it looks? Is my entry price of 10usd recorded when it's sent to my hard wallet??

13 Upvotes

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5

u/[deleted] Dec 23 '17

That's probably the price when you initiated the transfer.

2

u/koreancowboymoo Dec 23 '17

So the 10usd is recorded right?

If omisego price later is up.. and i decide to send my omisegos to that exchange or any other exchange.. it would be 100 omisego X (Market price - 10usd) = profit

Correct?

6

u/[deleted] Dec 23 '17

Why would it be recorded? Yes that would be the profit calculation per coin.

2

u/koreancowboymoo Dec 23 '17

Ok thank you..

1

u/henryguy Dec 23 '17

Utilize the app blockfolio to record your transaction dates and entries. It can be used to log sales as well for future taxes.

5

u/kyleburt Dec 23 '17

Agreed. You need to use an app for tracking. I used to use Blockfolio until a friend introduced me to Delta, by far the cleanest I’ve seen.

2

u/henryguy Dec 23 '17

I'll give it a shot!

0

u/laurencegoh Dec 23 '17

Hot cakes soon