Topic: Isn't crazy how much does bitcoin exchange earn? - page 4. (Read 611 times)
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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 quite interesting and we should learn from it. We should be doing business as per the current demand in the society and this can bring lot of profit in comparison to traditional businesses.
It isn't that surprising that exchanges make decent money and will continue to make more as the general public become aware of cryptocurrencies. The amount they bring in will only increase with popularity. Even small exchanges are making nice amounts.
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!!
Well, even if we're not doing the math here, everyone knows how crazy it is. But, "With great power comes big responsibility". Exchanges may not earn as huge profit as that if there are a lot of issues in your business. Consistency, Response, and Stability these things must be present in a certain exchange.
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Well that is how exchanges live and survive and earn money. But not all exchanges have a high success rate. Exchanges spend huge of amount promoting their website and have paid a number of people to be known and to gather more clients. Without clients exchange will bound to fail. I remember the exchange live.megacrypton, it disappeared from the web since only a few users are trading.
Aside from the huge income, the exchanges also make sure that all coins in their site is moving and so they create transaction flows which sometimes are risky and cause them to loss a significant amount of btc.
The exchanges are making a huge amount of profit without a doubt and since it is a global platform without any limitations, the opportunity is huge and many are taking advantage of it and i do not think that the exchanges will create fake volumes to keep the flow moving and if anyone does those things, they are just inviting trouble, if you start faking things, you will never succeed with your project. Aside from the huge income, the exchanges also make sure that all coins in their site is moving and so they create transaction flows which sometimes are risky and cause them to loss a significant amount of btc.
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!!
Interesting calculation and good income at the stock exchange. With the development of bitcoin, these figures will only grow. Imagine how many exchanges will be earned in a few years, and if bitcoin costs $ 50,000. 
yeah that was a big pot of money, and thats why they call it Hyper Investment and it was so rough to get it in and earn that so much
need a more patience to investing in that thing and a lot of calm with emotion
need a more patience to investing in that thing and a lot of calm with emotion
You are right to say crypto exchanges make big money, especially the big ones. But the operation costs are high as well. For example, the exchanges have to employ experts to secure the website, wallets and crypto currencies stored in the exchanges. There are other costs such as advertising.
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!!
Wow, thanks for the calculations, actually I never thought about that and it's actually impressive, I didn't have a clue the are making so much money!
It's a business and every business have to make profit, so you know how much a bank make on hourly bases just by charging us transaction fee and sending 0s and 1s from one person to another? You have to check all this before looking at the fee an exchange made, this money is also used to maintain their website in other to make it free from hack, exchange gets major attack.
FALSE.
Most exchanges are earning huge amounts of money from LISTINGS, binance is asking for more than $500,000 for a single listing. Kucoin, more than $100,000. And Bittrex.. Pff, i do not even want to talk about it.
But yes, Binance is earning more than 3 million dollars a day, i dont remember where i saw a chart about this.
Well that is how exchanges live and survive and earn money. But not all exchanges have a high success rate. Exchanges spend huge of amount promoting their website and have paid a number of people to be known and to gather more clients. Without clients exchange will bound to fail. I remember the exchange live.megacrypton, it disappeared from the web since only a few users are trading.
Aside from the huge income, the exchanges also make sure that all coins in their site is moving and so they create transaction flows which sometimes are risky and cause them to loss a significant amount of btc.
Most exchanges are earning huge amounts of money from LISTINGS, binance is asking for more than $500,000 for a single listing. Kucoin, more than $100,000. And Bittrex.. Pff, i do not even want to talk about it.
But yes, Binance is earning more than 3 million dollars a day, i dont remember where i saw a chart about this.
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 $1bn!!
Well that is how exchanges live and survive and earn money. But not all exchanges have a high success rate. Exchanges spend huge of amount promoting their website and have paid a number of people to be known and to gather more clients. Without clients exchange will bound to fail. I remember the exchange live.megacrypton, it disappeared from the web since only a few users are trading.
Aside from the huge income, the exchanges also make sure that all coins in their site is moving and so they create transaction flows which sometimes are risky and cause them to loss a significant amount of btc.
Yes they earn a great amount of money from the trading which people do on their platform I research on some exchanges that they earn 15$ for every bitcoin traded on their exchange and most of the exchanges here have a trading volume in millions so they are earning huge.
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Some exchanges are gaining high money..Yes it is true..
But do not just look at the money they earn..This job has great challenges and risks.
But do not just look at the money they earn..This job has great challenges and risks.
I cannae wait for some robust and simple decentralised exchanges to pop up. People are rushing headlong into enabling cartels once again and they're growing in power and influence by the day.
Exchanges now can make or break most coins. That's not how it should be.
Exchanges now can make or break most coins. That's not how it should be.
exchanges like Coinbase are always going to exist and be necessary since they are working with fiat and fiat requires a centralized place such as these exchanges.
additionally decentralized exchanges are not yet offering same options as centralized counterparts and sometimes are even slower too. which is why they are not yet that popular.
This explains why these exchanges are really powerful as they are the ones who provide platforms for trading. I always wanted to start an exchange of our own but the competition is really intense.
HA! you think they would pull out such business to collect pennies and dimes? noooo, they think big and earn big lol
With the amount of work which goes into keeping these exchanges up and running for people to be able to trade their coins and get money I think they deserve every penny they are getting. They have employees they have to pay and maintaining a site that has millions of users and millions of visitors everyday is no easy feat and they should earn what they are earning for their work.
IMHO big fees on crypto exchanges will go lower in the nearest future. Big algotrading companies can't play this games with such fees. They can give great volume to exchanges. So waiting for big players and lower fees.
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