Sorry for the length of this post, I thought this was an easy one but maybe not. I tried posting it in the Robinhood sub, but the moderators rejected it. Why, I couldn't say, though I do think it's more directly relevant there, though shouldn't be too much of a stretch for this sub.
This is specific to crypto - BCH - but that doesn't matter as the metrics are the same for stocks and crypto.
I sold off most of my BCH holdings today, so that there was only 1 coin left. That made it, IMO, really straightforward to see that there was an error in the equity calculation.
I have 1 coin. Market value of 1 coin was \~$335. Therefore my equity position was \~$335. But the platform says it's \~$282.
So, I contacted support. Started with the crypto team. They transferred me away to the stock and equities team. They reviewed it and sent it back to the crypto team.
The last agent ended up telling me that equity amount was the real average cost. We went back-and-forth a bit debating that, then it ended with the support agent ending the chat so quickly I couldn't even respond to his last message. I type \~90 WPM with 0 - 1 errors, so I know it wasn't just a fast type job, he definitely typed out the message first, then copy/pasted it in and ended the chat. Which at the end of what turned into well over an hour, was frustrating, but not the issue. It IS why I'm here checking to make sure I'm not crazy or missing anything though.
**Am I missing something? This seems so straightforward, it's a math/calculating error, right? Or a label error, because I can sell the 1 coin right now, and receive more than the $280 equity.**
I sent each one of them a screenshot showing what I was saying. Here's the three screenshots, and the conversation starting with when the third agent picked up after reviewing the chat history.
[First screenshot](https://preview.redd.it/lulvcjo3x4pe1.png?width=2560&format=png&auto=webp&s=9d1b74bd67d8dc939eb808cedb518be3724f477c)
[Second screenshot](https://preview.redd.it/pzejcbw5x4pe1.png?width=2560&format=png&auto=webp&s=9fe52a1f47a881be27375eebddbb56a4b5ceb6b1)
[Third screenshot](https://preview.redd.it/87kod9d8x4pe1.png?width=2560&format=png&auto=webp&s=480b92efb7b39c85a395d8d44b26b191fa254f41)
So, the third agent "figures" it out. Here's the conversation, my replies are in bold, their replies are italic. :
>*I am back and I appreciate you for waiting. As I take a look into your screenshot, you are seeing your equity as $283.13. To let you know, this is the amount you paid for the BCh you bought throughout the time your BCH is in your account. It will not show you the current value of crypto you hold base on the market value of the BCH since it is only the reference point of how much you paid for the crypto itself.*
>**That's not correct.**
>*That is why there is an average cost. Robinhood defines average cost as the cost per share of your current open position. It is used to calculate the unrealized profit and loss of your current position*
>**What I paid throughout the the time of my bch is the average cost**
>**The equity amount is how much my current holdings are worth**
>**and this one is worth \~333ish**
>**not \~280ish**
>*So if you want to look for the value of your crypto based in the current market, you will check the average cost.*
>**No.**
>*Check our* [*Help Center*](https://robinhood.com/us/en/support/articles/average-cost/#AverageCostandCostBasisarenotthesamething) *for more information about this.*
>**Average cost isn't the value. Because that value goes up or down depending on the price of the crypto.**
>**My average cost only goes up or down if I make a purchase**
**I'm sorry, but what you're saying is completely wrong..**
>**The equity amount is the value of my holdings. Current holdings.**
**I couldn't be more sure of anything in life.**
>**It's also only happening with BCH so far as I can tell**
**Average cost wouldn't be the value of my holdings lol. Its the average COST, not value, not equity..**
>*I understand, \_\_\_\_\_\_\_. If that is what you believe in, I would not argue with that at all. I am only relaying the information I can see in your account. As I check here, the total equity in your screenshot matches your total cost for the BCH. Please check our Help Center to know more about the average cost.*
>**ok, maybe it matches the average cost, but it shouldn't.**
**i did check it. Did you?**
>*I did.*
>**I sent the Robinhood definition from help center:** If you’re using an earlier app version for stocks, ETFs, and options trading, Robinhood defines Average Cost as the weighted average amount paid for shares (buys). For crypto, the average cost is the total notional value of the crypto assets you’ve purchased on Robinhood, divided by the total quantity of crypto assets you’ve acquired on the platform. For crypto, the average cost is calculated by dividing the total amount spent on purchasing that specific crypto on Robinhood (including all purchases since opening your account) by the total quantity of that crypto acquired on the platform.
>**I'm not asking about average cost. I'm asking about the equity, which is the market value. And I believe it used to be labeled market value as well.**
>**I have no question about average cost. So I'm not sure how that is supposed to answer this inquiry..**
>**You sentYeah, look at any of my other crypt holdings. That equity number = the market price x my holdings. For all of them but BCH it appears**
>*You are looking for the value of your BCH based on the value of the market correct? That is the average cost. The equity you are seeing as I have mentioned seems to be the total cost of how much you bought the said crypto. But you know what, I will just reach out to our team for more information. Maybe they can enlighten us about this. Stay on the line and I will reach out to our internal team.*
>**No it's not. That's... Well I'm not even sure how you could think that or say that. It's 100% not.**
>**Thank you for reaching out to someone else**
>*We’re sorry for any inconvenience and appreciate your patience while we work to get this addressed for you. Once I get an update from them, I’ll be sure to let you know as soon as possible!*
>**ok**
>*Robinhood sentI have reached out to the team and I am waiting for their response. I will for sure let you know once I have a heads up from them.*
>**Ok thanks**
>*It appears that our team may take longer than normal to respond to your concern at the moment.*
>*Since I don't want you to wait too long in chat as I value your time. I will transfer our conversation to email and reach out to you once I have an update. Thank you for your patience and understanding.*
>*I guarantee that I will keep you informed once it is done. Thank you for choosing Robinhood. Stay safe!*