Who is actually the largest beneficiary of the crypto-currency industry?
The publication of Bloomberg on the basis of Coinmarketcap data on the volume of trades and information on commissions on exchange websites revealed that the 10 largest crypto-exchange exchanges receive as commissions from $ 0.5 to $ 3 million per day each, which means that the revenue from commissions is more than $ 1 billion per year It is worth mentioning that these calculations were carried out on the basis of the highest commissions (excluding shares, trial periods, etc.), so you can imagine the actual figures of income from commissions.
Approximate daily data on exchanges look like this:
Binance ~ $ 3.5 million Upbit ~ $ 3.5 million Huobi ~ $ 2.5 million Bittrex ~ $ 2.5 million Bithumb ~ $ 2.0M OKEx ~ $ 1.5 million Bits Blockchain ~ $ 1.0M
Bitfinex ~ $ 1.0 millionBit-Z ~ $ 0.5 million GDAX ~ $ 0.5M Bitstamp ~ $ 0.5 million WEX ~ $ 0.5 million Kraken ~ $ 0.25 million HitBTC ~ $ 0.25 million
In fact, this estimate is very approximate, since it is often impossible to find out exactly which commissions are offered to companies close to exchanges, and what, for example, discounts for the most active traders are often impossible.
Given the daily turnover of exchanges and the size of commissions, we can say that the top-10 exchanges receive hundreds of millions of dollars in profit per year. And even considering the situation on the market and the inaccuracy of settlements, the obvious crypto-currency beneficiaries are payment institutions. «Exchanges and transaction companies have become the largest beneficiaries in this area, because they allow people to carry out transactions and work in this growing industry. This is a big business, and I would not be surprised if they earned hundreds of millions of dollars in revenue, or perhaps even billions a year, "said analyst D.A. Davidson & Co Gil Luria.
Binance and OKEx have the largest trading volume, which is about $ 1.7 billion a day. Given the size of the Binance commission of 0.1%, it is most likely that this exchange earns the most. OKEx commission for the most active traders is 0.07%. Other top lines of the rating are also occupied by Asian trading floors, the trading volume of which ranges from 600 to 1.4 billion dollars per day, and the average 0.3%. According to the platform for the conclusion of Aelf smart contracts, Asian exchanges are market leaders, accounting for more than half of digital currency trading. This position of the Asian market can be explained by the fact that the largest number of mining companies are concentrated in this region. Moreover, the young population of Asia is extremely interested in new technologies, and also actively participates in the gaming industry, which makes them much closer to digital currencies than all the rest. More importantly, according to co-founder Aelf Julin Chen, due to the tightening of the regulation of the crypto-exchange industry in China and South Korea, restricting the work of exchanges and conducting ICO, also leads to the fact that Asian firms are forced to become global. This is confirmed by the fact that almost all the largest Chinese and Korean companies have recently opened their representative offices in Japan, the US and Europe.
The popularity of Binance in this context is quite an amazing phenomenon. By the way, the head of Binance Changpeng Zhao ranks 3 rd in the ranking of the richest people who made their fortune on crypto-currencies. Binance company began working in July last year, and now it is one of the most popular stock exchanges, even despite the fact that the courses cryptocurrency may not be the most profitable on the exchange. Recently, the stock exchange shifted its cartography from Shanghai to Japan as a result of tightening of the policy on crypto-currency regulation in China. Now the exchange can handle 1.4 million orders per second, which, according to representatives, the stock exchange makes it so popular. We assume that this is not the only reason, since the more important advantage of Binance is the simple process of accrediting customers. "They do not force users to go through the identification process before the withdrawal of funds. This is a complex process. The exchange can lose customers in the two or four hours it takes. On Binance, the whole process from the beginning of creating an account to entering money into the account can take less than 20 minutes, "said co-founder of the crypto-investment platform Samsa Chris Slaughter.