Topic: Isn't crazy how much does bitcoin exchange earn? - page 3. (Read 682 times)
yeah when it decentralized and transparent in any kind of isses we can seeing it circulation ofcourse, i think is normal when we are seeing some thing like that, because right now bitcoin is an economic macro
Bitcoin is a investment wherein its market value in the whole world changes every second, minute and hour. Through this it can obtained a income or loss in just a sinhle moment.
Yes it is crazy because no one knows when the company eill earn income or loss.
Yes it is crazy because no one knows when the company eill earn income or loss.
i just did a simple calculation, about 35k bitcoins are traded on GDAX every day. At its current price of $6900 and a trading fee of 0.3%, the exchange puts about $700,000 in its pocket EACH DAY and it is ONLY for bitcoin. After including all other cryptos, this number can go up to more than $2MM. Since the exchange is active 365 days a year, the exchange's annual revenue can reach almost $1bn!!
if you look at the bigger exchange like binance, you can more shocked.
in binance, the average daily volume for bitcoin transactions is about $200mil-$300mil.
if the fee 0.1%, it has $200k income per day. Just only from bitcoin transactions!
very good calculation. even if bitcoin is trading at $ 20,000, could reach more than 1 billion, but with note bitcoin sales in every other market should be stable.
the percentage of profits with high volume makes GDAX must retain service to all GDAX exchange users, otherwise, it will be like MT.GOX.
the percentage of profits with high volume makes GDAX must retain service to all GDAX exchange users, otherwise, it will be like MT.GOX.
i just did a simple calculation, about 35k bitcoins are traded on GDAX every day. At its current price of $6900 and a trading fee of 0.3%, the exchange puts about $700,000 in its pocket EACH DAY and it is ONLY for bitcoin. After including all other cryptos, this number can go up to more than $2MM. Since the exchange is active 365 days a year, the exchange's annual revenue can reach almost $1bn!!
Those figures are without a doubt very high for normal people like us, but for a business like that it's to be expected that they get those kind of profits, I have always thought that the fastest way to make money is to go directly where the money is and there is no business that gets closer to that than banking and exchanges, have you seen how powerful are the banks? This is one of the reasons of why satoshi created bitcoin, and while we do not have bitcoin banks we have exchanges which are becoming big enough that by themselves they can alter the price if they want.
Bitcoin is still in the basic phase of development and hence there are no geographical boundaries. On the other hand, there are tremendous opportunities with low competition at the moment. Exchanges are providing the opportunity not only to buy and sell crypto but also to trade in multiple cryptocurrency pairs and for every trade exchanges levy a little fee. It's the business of high volume and low fees on a global scale.
A lot of the money from an exchanges is actually handed back out to the exchange users via referral schemes. Still, they probably end up with at least 50% of the number that you described. It's a wonder how these exchanges ever go bankrupt, or even when they get hacked they should easily be able to refund their customers out of the millions they've made.
they never go bankrupt, when you run the money thats the savest and most profitable business of the society, as it is its power centre, just look at the worlds established financial centres, wallstreet manhattan, london, frankfurt
they never suffer from risks, they always stay rich and those that own property there always stay wealthy. as countless people try to move there to offer those their goods and services.
its a great thing that cryptoeconomics decentralises their power and their position, it will spread wealth all over the world make it more decentral and most importantly create a more save and stable basis for all those that are participating in the other sectors of the economy
regards
I don't think they are crazy at all they were meant to be a place where you can get comfortable with your marketing skills and in exchange of all this the site owner or I can say the exchange owner will get a commission from each of your actions. No matter what you do even if you are practicing with your money then also this item is going to earn money from your actions. Trading works and table to everything so that you can choose their exchange for all of your transactions. On the other hand is quite natural if you can gather like 100000 uses and you can say all of them to put 100 satoshis that you are going to get a lot of money.
Irrespective of the expenses that has to be taken care of, CRAZY is quite acceptable and in order to qualify the amount that bitcoin exchange earn. It seems unbelievable in most cases, but the most interesting part is that is is REAL.
yeah i already know about this since long ago.
exchange gain so many profit from daily trading with little effort.
thats why i agree if goverment taxes exchange just like japan goberment,instead taxes bitcoin holder.
exchange gain so many profit from daily trading with little effort.
thats why i agree if goverment taxes exchange just like japan goberment,instead taxes bitcoin holder.
i just did a simple calculation, about 35k bitcoins are traded on GDAX every day. At its current price of $6900 and a trading fee of 0.3%, the exchange puts about $700,000 in its pocket EACH DAY and it is ONLY for bitcoin. After including all other cryptos, this number can go up to more than $2MM. Since the exchange is active 365 days a year, the exchange's annual revenue can reach almost $1bn!!
This is very surprising and yes the crazy too because this calculation is far away from my expectations that how can a exchange earns such a lot from a single cryptocurrency naming bitcoin, though BTC is very successful and sustainable cryptocurrency but still an exchange earning such a huge amount in a year is really surprising.
amazing, bitcoin has a large volume in the GDAX exchanges, I think GDAX is a big market. not a bad option to trade.
but high bitcoin volumes in GDAX will not be able to withstand bitcoin and other coins from bad market conditions.
but high bitcoin volumes in GDAX will not be able to withstand bitcoin and other coins from bad market conditions.
it is not a crazy thing, with the amount of exchange that much I think it's fair because bitcoin users more and more years. with so much more exchange giving ease to all bitcoin users.
Of course it's crazy, but nobody is preventing others to open their own exchanges, to gain the necessary reputation and to parecipate to this rich market. Of course, you need to have the know-how to do something like that.
I am sure it is not so good as it looks. Behind those money there a lots of taxes wich have to be paid and I am talking of more than 50%.They have to spend lots of money for paying their employees. Such a big exchanger wich was thousands of customers daily needs dozens of employees to make sure that everything goes as planned.
They have to spend money of security because that id one of the most important thing. If they website is hacked by someone they could lose everything and I am sure they have the best people to make sure that is not going to happen.
Lets dont forget about paying taxes to government because that is absolutely inevitable when so much money are passing through their company. I dont know where their company is created but they surely pay some pretty big taxes anywhere they would be.
They also have to spend money for promotion wich is also important even if they already are number 1 exchanger.There are a lot of other things that should be taken in consideration because the profit that you calculated is way to enormous
They have to spend money of security because that id one of the most important thing. If they website is hacked by someone they could lose everything and I am sure they have the best people to make sure that is not going to happen.
Lets dont forget about paying taxes to government because that is absolutely inevitable when so much money are passing through their company. I dont know where their company is created but they surely pay some pretty big taxes anywhere they would be.
They also have to spend money for promotion wich is also important even if they already are number 1 exchanger.There are a lot of other things that should be taken in consideration because the profit that you calculated is way to enormous
i just did a simple calculation, about 35k bitcoins are traded on GDAX every day. At its current price of $6900 and a trading fee of 0.3%, the exchange puts about $700,000 in its pocket EACH DAY and it is ONLY for bitcoin. After including all other cryptos, this number can go up to more than $2MM. Since the exchange is active 365 days a year, the exchange's annual revenue can reach almost $1bn!!
no matter how the trusted exchange earn, it keeps that they must pay for the whole system manager, security, partners, maintenance and others.
im sure with this transparent transaction, the exchange didn't really get as we expected. also the security is the most vulnerable issue of exchange, keep it is not as simple as we think. keep the security is like keeping their the partners
Considering all of the unseen costs is something very few people do but I feel that it's still safe to say that exchanges are making ludicrous amounts of money. Right now there is still so much potential for competition in terms of service that competition on fees isn't that major. Once software etc improves further to a stage where there can be little improvements then for newcomers to compete they'll only be able to offer lower fees.
i just did a simple calculation, about 35k bitcoins are traded on GDAX every day. At its current price of $6900 and a trading fee of 0.3%, the exchange puts about $700,000 in its pocket EACH DAY and it is ONLY for bitcoin. After including all other cryptos, this number can go up to more than $2MM. Since the exchange is active 365 days a year, the exchange's annual revenue can reach almost $1bn!!
no matter how the trusted exchange earn, it keeps that they must pay for the whole system manager, security, partners, maintenance and others.
im sure with this transparent transaction, the exchange didn't really get as we expected. also the security is the most vulnerable issue of exchange, keep it is not as simple as we think. keep the security is like keeping their the partners
Ever heard of Binance? 
the guy behind it became a billionaire in 7 months! https://www.forbes.com/sites/pamelaambler/2018/02/07/changpeng-zhao-binance-exchange-crypto-cryptocurrency/#68a20d051eee
the guy behind it became a billionaire in 7 months! https://www.forbes.com/sites/pamelaambler/2018/02/07/changpeng-zhao-binance-exchange-crypto-cryptocurrency/#68a20d051eee
Yes true, they make so much in my opinion too. But i usually rationalize it based on the fact that 1. Exchanges have to maintain liquidity on all digital asset listed 2. I learnt that the amount of money needed to keep the exchange secured from unwarranted attacks is substantial 3. Since 4th quarter of 2017, the amount of crypto traders have increased tremendously to the point that exchanges that must survive the surge must higher more personnel, most of the time tipple the number of personnel they had before. So i think these charges cover for these as well, and of course we everyone is in business to make money.
i just did a simple calculation, about 35k bitcoins are traded on GDAX every day. At its current price of $6900 and a trading fee of 0.3%, the exchange puts about $700,000 in its pocket EACH DAY and it is ONLY for bitcoin. After including all other cryptos, this number can go up to more than $2MM. Since the exchange is active 365 days a year, the exchange's annual revenue can reach almost $1bn!!
you are thinking in us dollar not social support,
this is actually what also drives down the bitcoin price systematically because the exchanges have communal roots, so they "sell" their coins for communal currencies.
additionally there are more and more exchanges comming up
Jump to: