How to Calculate Average Purchase Price for Crypto
Add up what you paid for one cryptocurrency, including buying fees, then divide by the coins bought. Keep each buy's date and amount for US tax records.
Vahe HakobyanEditor-in-chief
Updated Oct 6, 20263 min readFact-checked
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The result is a per-coin figure for your records. The math is simple, but the records must be complete: one missing buy or added transfer fee changes the total.
What do you need before you start?
Start with the full buy history for each cryptocurrency you own. The IRS treats crypto as property, so keep records of what you paid and when.
How do you calculate average purchase price?
Work through one cryptocurrency at a time. Add each buy's cost for that coin, then add the coin amounts from those buys. Divide the total spent by the total coins bought.
- 1Pick one cryptocurrencyCalculate a separate average for each cryptocurrency. A combined number across different coins does not describe what you paid for either one.
- 2List every buyWrite down each purchase from your records. Include the date, coin amount, price, and fees.
- 3Add buying costsInclude trading fees and any network fee charged to acquire the coins. Do not include network fees you later pay to move coins between your own wallets.
- 4Exclude your own transfersDo not count transfers between your own wallets as new purchases. Moving coins does not change what you paid for them.
- 5Total and divideAdd the cost of all buys for that coin, then add the coin amounts from those buys. Divide the total spent by the total coins bought.
What should you do after calculating?
Your average purchase price is only as good as the records behind it. Keep a secure copy and protect the accounts that hold your crypto.
Frequently asked questions
Not necessarily. Under US rules, your cost basis depends on which units you sell and the accounting method you use. Average purchase price is a record of what you paid per coin.
A swap is a taxable disposal of the old coin and a purchase of the new one. Record the new coin's value at the swap plus any buying fees as its cost, then include it in the new coin's average.
Many programs import exchange and wallet records and calculate average cost or cost basis. Check the data for missing transfers or fees.
Rebuild them from exchange statements, bank records, emails, and blockchain history. If you cannot substantiate the original cost, talk with a tax professional, because an estimate may not be enough.
