The tool, according to the exchange, promises to improve the trading experience and let users see how much money they have made or lost when using WazirX to transact in cryptocurrencies.
The Profit & Loss (P&L) function of cryptocurrency exchange WazirX has been launched. “We are now prepared to introduce the eagerly anticipated Profit & Loss feature after considerable conceptualization, engineering, research, and design. All of your suggestions and requirements have been taken into account, and we have made sure to assure you,” the exchange stated in a blog post of the announcement.
The tool, according to the exchange, promises to improve the trading experience and make it easier for consumers to see how much money they have made or lost when using WazirX to transact in cryptocurrencies. The function seeks to reduce the effort users had to expend manually calculating their profits/losses after seeing the trade report. Users should now be able to view their portfolios with the absolute P&L, average buy for each asset, and numerous more sophisticated methods to compute P&L, according to theory. The feature has a UX design as well. Additionally, the “P&L View” for the assets/tokens may be customized.
“We have launched the much-awaited P&L function to make sure that our traders have a wider perspective as they invest in assets and also awareness about the performance of their portfolio holdings so that they can plan their next move in the market. Average Buy Price (ABP), Invested Value, and Unrealised P&L are all factors considered by WazirX. (Profit & Loss). In addition, there is a different category called “effect of events other than transactions” that includes things like “coins earned as referral incentives, contest prizes, crypto withdrawals, awards, and fines,” according to Rajagopal Menon, vice president of marketing at WazirX.
According to the WazirX website, it is an Indian cryptocurrency exchange platform that enables users to purchase, sell, and trade a variety of cryptocurrency assets like Bitcoin, Ether, Litecoin, among others. The platform reportedly has more than 15 million users. It’s thought that the platform wants to open up cryptocurrencies to all of India.
