WazirX unveils P&L feature for crypto traders

Mumbai: Continuing the festivities of Diwali and honoring the tradition of providing its customers with a smooth crypto experience, WazirX has unveiled the much-requested profit and loss (P&L) feature.

WazirX wrote to its users in the announcement blog post, "After much conceptualization, engineering, research, and design, we are finally ready to announce the much-awaited profit and loss feature. We have ensured that all your recommendations and requirements have been taken into account." Users have been anticipating this feature launch for a long time now and had provided the company with their insights when it was introduced for beta testing. Acknowledging the feedback and recommendations, the product team of WazirX has finalized and perfected the feature for introducing it to all users.

The feature aims to enhance the trader experience and aids users in looking at the profit and loss they have earned during their crypto journey with WazirX. The feature curtails the work the users had to put in to calculate their profits/losses manually after looking at the trading report. Users can now see their portfolios with the absolute P&L, average buy for every asset, and various other advanced models to calculate P&L. The feature has a simple but powerful UX design. Moreover, the 'P&L View' can also be customized for the assets/tokens.

Talking to Bizz Buzz, Rajagopal Menon, V-P (marketing), WazirX said: "In every market, investors need to analyze the performance of their investments frequently to decide their next move. This is more crucial when the asset is highly volatile - like crypto. We understand that these calculations can be cumbersome when done manually; thus, we have introduced the much-anticipated P&L feature. This feature works on simple math to derive the average buy price (ABP), invested value, and unrealized P&L (Profit & Loss) of the selected coin/token."

To make informed decisions, users can use these metrics as the starting point. Furthermore, this feature also considers referral and other rewards, contest winnings, crypto withdrawals, and penalties while presenting the calculations, he said.

Profit and loss are part and parcel of any market, and the crypto market is no stranger to it. Being a younger asset class, the market volatility in the crypto market is extremely high. To ensure that our traders have - a wider outlook while they invest in assets and also awareness about the performance of their portfolio holdings so that they can easily plan their next move in the market.

WazirX calculator is best in class and takes into consideration Average Buy Price (ABP), invested value, and unrealized P&L. Apart from this; there is a separate category - Impact of events other than trades - such as coins received as referral rewards, contest winnings, crypto withdrawals, rewards, and penalties, he added.