they make a lot of money from the fees
but idk how much money is needed for running their service
Topic: How profitable are exchanges? - page 3. (Read 15797 times)
MCXNow, Crypsy, BTCT, BTC-E?
I'm conducting a survey to determine the actual profitability of the popular exchanges.
Does anyone have any idea of what the volume is for these exchanges? What these exchanges make weekly or monthly and how we could find out?
I'm conducting a survey to determine the actual profitability of the popular exchanges.
Does anyone have any idea of what the volume is for these exchanges? What these exchanges make weekly or monthly and how we could find out?
The easiest way to figure this out is look at their 24 hour trade volumes. you can see they take a .2% fee.
so take all of the USD or all of the BTC or whatever, add it all up, multiply by .002 and thats how much they made in a 24 hour period.
Very profitable and i am planning to get my own.
MCXNow, Crypsy, BTCT, BTC-E?
I'm conducting a survey to determine the actual profitability of the popular exchanges.
Does anyone have any idea of what the volume is for these exchanges? What these exchanges make weekly or monthly and how we could find out?
You have quote the big boys in the crypto industries leaving poloniex behind, they all feed on us. They make on imaginable amount of money based on the volume of trade. I'm conducting a survey to determine the actual profitability of the popular exchanges.
Does anyone have any idea of what the volume is for these exchanges? What these exchanges make weekly or monthly and how we could find out?
Reputable exchangers can take advantage of trust by their fee. I feel its clear scamming.
what exactly is scamming about this is you take a fee (often a very small one) for
providing a service to other people?
Right.
There is cost involved in providing a place for buyer and seller to meet. And complying with all the crazy AML rules.
Reputable exchangers can take advantage of trust by their fee. I feel its clear scamming.
what exactly is scamming about this is you take a fee (often a very small one) for
providing a service to other people?
Reputable exchangers can take advantage of trust by their fee. I feel its clear scamming.
MCXNow, Crypsy, BTCT, BTC-E?
I'm conducting a survey to determine the actual profitability of the popular exchanges.
Does anyone have any idea of what the volume is for these exchanges? What these exchanges make weekly or monthly and how we could find out?
I'm conducting a survey to determine the actual profitability of the popular exchanges.
Does anyone have any idea of what the volume is for these exchanges? What these exchanges make weekly or monthly and how we could find out?
The easiest way to figure this out is look at their 24 hour trade volumes. you can see they take a .2% fee.
so take all of the USD or all of the BTC or whatever, add it all up, multiply by .002 and thats how much they made in a 24 hour period.
If everyone withdraws the money from the exchange, what would happen?
If the exchange is honest, nothing special. Trading would stop of course and the exchange would stop collecting fees.
If the exchange is dishonest, they may have invested some of the clients' money into stock, Ferraris, caviar, strip dancers... then the exchange may be unable to satisfy all withdrawals and then will be forced into bankruptcy.
Big fees means bigger profit. But this makes customers avoid you.
Another step sites take is to limit minimum amount of transaction which can be exchanged.
Another step sites take is to limit minimum amount of transaction which can be exchanged.
If everyone withdrawals the money from the exchange, what would happened?
If I had a team of dedicated developers who had a strong background in security, I would definitly look into making a secure and open exchange. Flat fees based on percantages sound extremely profitable one large volumes of coins are
Just put 90% of the coin on cold storage if you run an exchange. No one will be able to steal it.
If I had a team of dedicated developers who had a strong background in security, I would definitly look into making a secure and open exchange. Flat fees based on percantages sound extremely profitable one large volumes of coins are
But wouldn't this cost a lot of money? Do you think that your trading fees and other fees would compensate for the cost of paying your devs and security? I personally do not think so.
If I had a team of dedicated developers who had a strong background in security, I would definitly look into making a secure and open exchange. Flat fees based on percantages sound extremely profitable one large volumes of coins are
now bittrex is one of the most profitable
some btcs a day
around 50 btcs month
highly profitable I think
some btcs a day
around 50 btcs month
highly profitable I think
you should have looked before, the profit was to the moon literally, high volume for every coin made, now there just chip
I think ;)A good exchange is very profitabel
If you take btc-e for example, with multi million dollars turnarounds daily, and 0,2% fees, it is not that hard to see that its highly profitable.
There are some other things one should also be aware of, like the amount of security and maintenence that is needed to run such high volume operation.
I wonder how they keep their relations with banks, since bitcoin is still considered a gray area.
Very profitable.
Bter just paid a hacker 440 btc to return 42M NXT coin rather than just close down the business and declare bankruptcy.
Bter just paid a hacker 440 btc to return 42M NXT coin rather than just close down the business and declare bankruptcy.
In what way were the coins stolen in the first place?
Never considered bter for an exchange that would be able to pay such an amount.
Well there you have it, if you want to get rich, just open up and exchange
Very profitable.
Bter just paid a hacker 440 btc to return 42M NXT coin rather than just close down the business and declare bankruptcy.
Bter just paid a hacker 440 btc to return 42M NXT coin rather than just close down the business and declare bankruptcy.
I think ;)A good exchange is very profitabel
If you take btc-e for example, with multi million dollars turnarounds daily, and 0,2% fees, it is not that hard to see that its highly profitable.
There are some other things one should also be aware of, like the amount of security and maintenence that is needed to run such high volume operation.
I wonder how they keep their relations with banks, since bitcoin is still considered a gray area.
they are surely less profitable now, but usually they are the most profitable thing, between fee/voting and other stuff, they earn lots of btc per day, but you need a good employers with security internet study ecc....
I think that the altcoin exchanges likely make a lot of money from coin voting "fees"....I really think that is almost a genius idea to have people "vote" to have additional coins supported on their exchanges with their money. I would think that it usually costs next to nothing to have an additional coin supported by the exchange and the exchange could protect themselves by mandating that a higher number of confirms is needed for coins that are less secure. Jump to: