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Free Crypto Calculator for Australia

Use this free tax calculator to instantly find your net profit on crypto transactions.

Find out if CGT applies
Use your income to determine tax brackets
Use your country to determine tax laws

Ethereum Profit Calculator

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Frequently Asked Questions

What is Ethereum?

Ethereum is an open source blockchain created by Vitalik Buterin in 2014. It is the second biggest blockchain network in the world and is expected to overtake Bitcoin in terms of market cap in the next 5 years. Many of today's most popular crypto projects, like NFTs, ERC20 tokens, and fast payments are built on top of the ETH network. Furthermore, ETH 2.0 utilises a proof of stake rather than proof of work protocol, will which drastically reduce the energy consumption of the ETH network.

Is the ethereum profit calculator free?

Yes. This is a free ethereum profit calculator. You do not need to sign up. You can just start using it today.

How does the ethereum profit calculator work?

This calculator works by using the historical price at the time that you bought your Ethereum and the price of when you sold your Ethereum, as well as your income and the length of time that you held the investment for, to calculate how much tax you have to pay, what your gross profit or loss is, as well as what your net gain or loss is after tax.

Is Ethereum a good investment?

That is entirely up to you to decide. However, as of 2022, it is the token with the highest amount of utility and is expected to eclipse bitcoin in the future.

How to calculate Ethereum profit

To calculate profit on Ethereum, compare the buy price and the sell price and multiply the difference by the number of units bought. You can do this easily using the ethereum tax calculator above.

How to calculate Ethereum mining profit

To calculate your profit on ethereum mining, use your hashrate, power consumption in watts, and electricity price to determine how much ETH you will be rewarded with every day.

It is advised that you use a calculator for this.

How to calculate Ethereum gas fees

Gas fees are denoted in gwei, which is a denomination of Ethereum's native currency, Ether (ETH). 'Gwei' means 'giga-wei', and it is equal to 1,000,000,000 wei. Wei is the smallest unit of ETH.

Transaction fees are calculated as Gas units (limit) * (Base fee + Tip)

Base fees are calculated by comparing the previous block with the target size. This ensures that block sizes do not remain high, because it is not commercially viable to do so.

Block NumberIncluded GasFee IncreaseCurrent Base Fee
115M0%100 gwei
230M0%100 gwei
330M12.5%112.5 gwei
430M12.5%126.6 gwei
530M12.5%142.4 gwei
630M12.5%160.2 gwei
730M12.5%180.2 gwei
830M12.5%202.7 gwei

How to calculate Ethereum to token

Coin swaps are considered by most tax authorities to be the equivalent of disposing of an asset and buying a new asset. As such, it is important to take tax rules into account before doing coin swaps. However, if you wish to calculate the conversion rate of Ethereum to token, you can check the Ethereum price as well as the token price, and divide the token price by the price of ETH.

What if I have made a loss on Ethereum?

If you have made a loss on Ethereum, you can realise that loss today to take advantage of tax loss harvesting. Tax loss harvesting allows you to sell at a loss and carry that over to future years. Meanwhile, you can hold for longer than 12 months and be eligible for Capital Gains Tax discounts, heavily reducing your tax bills so you can keep more of what you make.

About Ethereum

Ethereum is a smart contract platform that enables developers to build tokens and decentralized applications (dapps). ETH is the native currency for the Ethereum platform and also works as the transaction fees to miners on the Ethereum network. Ethereum is the pioneer for blockchain based smart contracts. Smart contract is essentially a computer code that runs exactly as programmed without any possibility of downtime, censorship, fraud or third-party interference. It can facilitate the exchange of money, content, property, shares, or anything of value. When running on the blockchain a smart contract becomes like a self-operating computer program that automatically executes when specific conditions are met. Ethereum allows programmers to run complete-turing smart contracts that is capable of any customizations. Rather than giving a set of limited operations, Ethereum allows developers to have complete control over customization of their smart contract, giving developers the power to build unique and innovative applications. Ethereum being the first blockchain based smart contract platform, they have gained much popularity, resulting in new competitors fighting for market share. The competitors includes: Ethereum Classic which is the oldchain of Ethereum, Qtum, EOS, Neo, Icon, Tron and Cardano. Ethereum wallets are fairly simple to set up with multiple popular choices such as myetherwallet, metamask, and Trezor. Read here for more guide on using ethereum wallet: How to Use an Ethereum Wallet
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