I need to understand how buying / selling works in crypto markets.
I see an
amount: 44608.01, rate: 0.98 in the XRP/USD market in Kraken.
- Will the rate
0.98be in USD or XRP? I'm assuming USD for now.
- If I buy
44608.01 XRP/USD @ USD 0.98, I have
USD 43715.8498, correct?
If I sell
43715.8498 XRP/USD @ USD 1.13, how many XRPs do I have?
43715.8498 / 1.13 = 38686.5927433628?
- If my above assumptions are correct, have I then lost
44608.01 - 38686.5927433628 = 5921.4172XRPs from these 2 transactions?
- If I'm right on (4), how did I lose money when my buying price was lower than my selling price?