11/19/2024
Calculations for Moving Cryptocurrency Between Accounts
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Problem Statement:
An investment account offers a 5% - 10% discount when deposits are made using cryptocurrency in addition to a 50% (non-withdrawable) matching bonus if that option is selected.
The amount available to deposit in the crypto wallet is known. When entering that amount in the receiving wallet for a deposit a 5% discount is applied first. Only the exact amount can be sent to the receiving wallet leaving approximately 5% of the intended amount to be moved in the funding wallet and if the remaining amount in the funding wallet is too low it cannot be moved leaving the funds to be unutilized or not utilized as intended. Therefore it would be best to determine the amount to enter at the receiving wallet so that the exact amount or nearly the exact amount desired to be moved from the funding wallet will be expected at the receiving address (after deposit discount is applied).
Particular problem:
The desired amount to deposit at receiving wallet address must be $71.82 after a 5% discount is applied.
So, let X equal the start amount (the amount before the discount) such that,
$71.82 = X - (.05X)
solve for X:
$71.82 = .95X
($71.82/.95) = X
$75.60 = X
Checking the result
$75.60 * (.05) = $3.78 and
$75.60 - $3.78 = $71.82 β
So in this case when going to make a deposit in the investment account in the amount of $71.82 the client should deposit the amount of $75.60 and after the 5% discount is applied send the equivalent of $71.82 in the cryptocurrency.
and generally
if Y equals the desired amount after a 5% discount then:
(Y/.95) = X
And if Y equals the desired amount after a 10% discount then:
(Y/.90) = X
And more generally for any discount amount, [let it be equal to (d)%]
(Y/(1-(d/100))) = X; where d is less than 100% and greater than 0%
This should get you pretty close to the exact amount you want to move from one wallet to another. Since the prices and conversion rates for currency are always changing there may be small variations in the amounts and therefore deviations from the calculation.
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