In a report on the cryptocurrency market, it was claimed that cryptocurrency exchanges made about 3 million dollars a day in profits.. According to this report, the real winners of the cryptocurrency market seem to be crypto exchanges.. In this fairly new market, which started only in 2009, these profit figures of the stock markets seem quite impressive.. Exchanges make money by charging commissions on cryptocurrency trading and withdrawals.. With this in mind, it comes to mind why some are more profitable than others.
The real winners of the cryptocurrency market are Asian-based cryptocurrency exchanges
Asia-based cryptocurrency exchanges are seen as the most profitable exchanges.. Binance in Tokyo and OKEx in Hong Kong are known for trading more than $1.7 billion every day.. Huobi, Bitfinex, Upbit and Bithumb follow these two crypto exchanges closely.. Apart from popularity, there are other reasons why Asian stock markets are the most profitable companies.. If we talk about the reasons that support these high profits; First of all, energy costs are quite low.. Low cost energy means mining is cheaper than other countries. Second, they have a well-established economy based on mobile payments.. And finally, what makes tokens more acceptable is that they have a huge gaming culture.
There is no question that the most popular ones will stay that way in the future.. As with anything, new exchanges are hitting the market.. Top performers are held by the market. This allows them to develop a little more.
For example, Robinhood, a US-based cryptocurrency exchange, aims to be the best crypto exchange by offering zero fees.. However, well-known exchanges such as Binance are finding other ways to attract customers by improving themselves in decentralization, transfer of real money to crypto exchanges and incentive investments.
It is too early to say how high volatility will affect crypto trading volumes in 2018.. However, the combination of innovative strategies and increases in the number of cryptos listed are predicted to hold the positions of top-performing crypto exchanges.
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