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How Much Do They Make

Exchanges’ Revenues: New Research of SWAP.Online
Vladislav Sopov comment 0 Comments

   Despite the enormous interest shown to the ICO & Crypto sphere in the last years, this field is still full of puzzles. One of the most exciting things there is the real total profit of crypto exchanges. You can trace the token capitalization via the Coinmarketcap, you can find the price of every cryptocurrency for the definite moment in past as well as transaction fee for the particular exchange – but how do these figures correlate with the real income of the exchange owners calculated by the fiat money? This problem only seems to be not so complicated. The year of 2017 was the epoch of cryptocurrencies boom, but how much money was made by the leaders of market during this year?

   SWAP.Online analysis department found only two really elaborated investigations on this problem. The first was organized by the  government of South Korea with the purpose to disclose the tax base of crypto market on the eve of infamous ICO prohibition in this country. It’s the odd thing to say that S.K. is one of the leading country in crypto exchanges’ world. So, the leading Democracy Party officials decide to publish some figures from the report generating big interest. The roughly estimated ‘crypto kings’ ’huge benefits were presented by Yonhep agency in Feb, 2018.

   The second one was organized by Bloomberg, U.S. Camilla Russo of Bloomberg also said that the results is only ‘rough estimation’, but leading american financial analysts concluded that the results of investigation are ‘not surprising’. The main results if the research were published in Mar, 2018, being corrected two times.

   In the situation of the complete uncertainty, the exchange owners interviews remain barely only source of information. Unfortunately, they prefer keep silence. E.g. HitBTC, the world tenth leading exchange beneficiaries doesn’t disclose their names let alone their revenue. By the way, Localbitcoins CEO N. Kangas started to say something interesting about the revenue of his firm only this year with the 4M accounts from 100+ countries registered on the site.

   What does still remain an unsolved puzzle is an income of the decentralized exchange services and cross-chain start-ups. For the cross-chain ecosystems such as Polka Dot and Kosmos even the monetization patterns are still very poorly described. One Russian analyst deeply involved in the market under anonymity conditions predicted that estimated revenue of this services will be some USD 0.5B a year. So, we just put this figures in the table below and wait whether it will come true.

 

   The kings of crypto exchange: nothing but figures.

 

Binance with 3,5M daily revenue holds the first position in ranking. Operating only since 2017, this exchange has more than 8 million accounts registered up to the Apr, 2018. Upbit is presumed to have collected  3.3M a day in commission sales last year, the data showed. Estimated sales of other S.K. top exchanges – Bithumb, Korbit and Coinone — which were released earlier — reached 1,8 M USD, 0,2 M USD and 0,3 M USD respectively.

As we predict, Polka Dot and Cosmos will be able to collect approximately 1,6 M USD a day in the years of 2019-2020. Localbitcoins, for comparison, collected some 70 thousand USD daily in 2017.

To sum up, it should be said one more time that all the figures published are rough estimations. By the way, they show the situation – classic centralized and semi-decentralized crypto exchanges are collecting 1-3M USD daily.

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