Cryptocurrency exchanges earn millions of dollars daily with commissions, and the total fees of the top 10 exchanges started to exceed $16 million daily.
According to estimates, the world’s best cryptocurrency exchanges earn millions of dollars every day from trading and other commissions. dollars earn. With data from Coinmarketcap, we can say that Binance and Upbit are in the top spot, making over $3 million a day each. Roughly calculated, this amount equals to $1 billion annually.
Cryptocurrency exchanges are the highest-paid companies in the industry
As we are not aware of the special discounts for active investors trading in high volumes, these figures are estimated figures. Remember it is. However, the numbers show that cryptocurrency exchanges have benefited greatly from the boom in the crypto market.
Exchanges’ estimated earnings:
D.A.. Davidson & Co stock analyst Gil Luria said of these statistics:
“Exchanges are the biggest winners in the industry right now.. Because they allow people to transact and participate in this growing industry. There is a large sector and investments in the middle.. It doesn’t surprise me that hundreds of millions of dollars, or even billions of dollars a year, are earned from this industry.”
Binance earns the highest revenue with 0.2% commission fee. The Tokyo-based cryptocurrency exchange also has the largest trading volume, reaching $1.7 billion per day.. However, as the OKEx commission rate is at a very low level of 0.07%, it is 6 among the top earning crypto exchanges..
After these two exchanges by transaction volume, Huobi, Bitfinex, Upbit and Bithumb exchanges come with an average of 0.3% commission fees. According to recent data from Coinmarketcap, four companies are trading between $650 million and $1.2 billion.
Interestingly, the other six exchanges mentioned as the most successful Binance are all based in Asia. Samsa’s co-founder Chris Slaughter said that the reason for Binance’s success is based on seamless customer satisfaction and continued as follows: No further action is taken by. This is quite a complicated process.. You may lose your customers because of a transaction that takes 3-4 hours.. But on the Binance exchange, this time usually does not exceed 20 minutes.”
Cryptovest