Bitcoin calculator: Types and purpose

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Bitcoin calculator: Types and purpose

Investors, traders, and miners are constantly using various cryptocurrency calculators. With these tools, they estimate the cost of electronic money and calculate the project's profitability. There are several types of calculators that will be useful for pioneers in the world of digital currency.

Classic type

Bitcoin calculator estimates the value of electronic coins in a fiat currency, as well as the exchange ratio of one token to another. It performs calculations within a couple of seconds and applies the current exchange rate of fiat money and cryptocurrency. The user needs to select a currency pair and enter the amount of digital money.

The calculator is synchronized with major cryptocurrency exchanges every minute and uses quotes through a systematic API. The user receives a result which is valid at the moment. So the user does not have to rely on the data obtained after N-period of time. The cryptocurrency volatility directly affects the exchange rate and its slightest fluctuations change the final value of digital assets. Use the calculator every time you perform a transaction.

At you will find a calculator and a converter with a built-in function allowing to work with fractions of the coin. Cryptocurrency conversion is performed in whole units, bitcents, millibits, microbits, and satoshas, so the amount does not have to be rounded (the calculation is made up to 8 decimal places).

Retrospective type

Bitcoin converter for historical exchange rates is used for information purposes. This tool is used for receiving the information on the digital assets value in the past. It can be used to determine the volatility, popularity, and variability of the exchange rate over the past decade. Such tools include also fiat money, precious metals, and various cryptocurrencies.

The historical converter functions on the principle of the classic one. Unlike the latter, it is not only the currency pair which is taken into account, but also a certain time period (week, month, year). The data obtained is useful for a detailed analysis of the past years. But this tool is not for the faint of heart. Don't use it if you tend to eat your heart out and blame yourself for the missed opportunity to buy a certain currency.

Mining and profitability calculator

Profitability calculator is a tool that calculates the profitability of cryptocurrency mining. It is used to assess the efficiency equipment for mining a particular coin. The calculation takes into account complexity and speed of the cryptocurrency algorithmic calculation, the cost of electricity, and performance of the equipment used. Using this calculator, the user learns about the estimated income and consumption of electricity.

Summing up…

Retrospective calculator is rarely used and is mainly applied to obtain historical information. Profitability calculator is a special-purpose tool which is essential for the miners. The classic cryptocurrency calculator is useful for anyone who invests, exchanges, buys, and sells digital money.


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