What is the daily earnings of cryptocurrency exchanges?

According to usethebitcoin, the income of exchanges is more than $3,000,000 dollars per day. The rating of the best cryptocurrency exchanges helps not only to choose the most reliable of them, but to clearly trace the growth trends of the digital market.

The cryptocurrency boom in recent years has created a group of crypto billionaires. As Forbes noted at the beginning of the year, many of them are the founders of popular crypto exchanges and trading platforms. Leaders include Chris Larsen, CEO of Ripple, Joseph Lubin, co-founder of Ethereum, and Changpeng “CZ” Zhao, founder of Binance. And although high market volatility has led many to lighten their wallets by millions, their brainchild, cryptocurrency platforms, continue to make up for these losses. 

Financial site Howmuch.net, visualized Bloomberg ratings of the best 20 exchanges: BINANCE, Upbit, HUOBI, BITTREX, BITHUMB, OKEX, BITS BLOCKCHAIN, BITFINEX, BIT-Z, GDAX, BITSTAMP, WEX, KRAKEN, HITBTC, COINEGG, BTCC, EXX, GEMINI, POLONIEX, BITFLAER. As a result, the rating begins with a rather large amount of $3.48 million per day and ends with a modest 0.07 million.

The leading position is held by Binance, which has a daily income of $3.48 million per day, with 38% of its users calling the USA their country of registration.

Upbit is not far behind the leader, receiving $3.42 million on a daily basis. Mainly due to 95% of users are from South Korea.

Chinese traders (40%) prefer Huobi, with revenue of $2.29 million daily. 

The top exchange is completed by Poloniex, which shows official revenue from cryptocurrency activities at only 0.07 million.

Regulators do not know how much remains in the shadows. However, to what extent the trading volumes correspond to the declared volumes is also a big question. After all, the problem that many exchanges artificially inflate daily volumes for price manipulation has been raised more than once.

Asian exchanges dominate the global crypto trading market. Tokyo-based Binance, which recently announced a new location in the “tax haven” of Malta, tops the ranking. Its founder, Zhao, according to a recent statement Forbes, became the owner of 2 billion dollars in just a year..

The low cost of producing digital coins in Asia (due to low energy prices), the widespread use of mobile payments and the high culture of video games, which are often accompanied by token broadcasts as an exchange of value in virtual worlds, have contributed to the growth of crypto trading in the region since its early days.

The most active players on these exchanges are traders from the United States, China, Korea and Japan.  Most trading volume is actually driven by professional investors and investment firms, although retail traders often make headlines for contributing to the "cryptomania."