Lucrative business of 'Cryptocurrency Exchange'.... How can we put more of "this money" back into our pocket?

in #crypto6 years ago

Bitcoin and other cryptocurrencies has captured the minds and imagination of MainStreet and WallStreet in 2017 as prices and marketcaps soared to all time highs, the trend certainly look like it could continue in 2018. One of the most integral part of this ecosystem is the place where buyers and sellers meet. It is probably one of the most under reported and yet the MOST lucrative side of cryptocurrencies. Interesting enough the 24 hour trading volume of Bitcoin often eclipses 4 billion USD, depending on the rates of the given exchange, they can expect a 24 hour trading profit roll-out 5 - 10 million dollars and that's just Bitcoin. It is quite difficult to obtain these data as companies books are not up to public scrutiny and for safety reasons it makes a lot of sense for the parties involve but one can use the 24 hour trading volume as an approximation. Given that the blockchain is available to everyone, we can definitely follow the money and easily identify the wallets of these exchanges. Today our scope is more of an awareness of the profitability of these exchanges and as customers we should demand better service. Here is just a list of some hand pick cryptocurrencies according to CoinMarketcap and their 24hour trading volume.
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According to CoinMarketCap Bitcoin 24 hr trading volume is $17,323,123,209 USD, of this total, trading fees and other related cost eats in up to 1/12 of that volume, and this is quite conservative taking into account varying exchanges fees.
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According to CoinMarketCap Ethereum 24 trading volume is $5, 472,812,248, likewise trading fees and other related cost eats in up to 1/12 of the volume.

These are just the two examples that I used, but we can also analyze Bitcoin Cash, Litecoin, Cardano, Ripple, EOS and other other coins with 1 Billion+ marketcap that experience these upside. In fact, a 24 hour trading volume of just 1 million USD makes these exchanges enough money to sit comfortably for the month.

With the experiences that many traders go through on a daily basis, isn't it time we demand a better and more efficient service. Or should we be radical enough and demand a share of the profit if services aren't getting better? I suspect 2018 as more people become aware of this "money machine" we would be radical enough to promote 'DECENTRALIZATION' and 'Profit sharing' of these exchanges among participants.

This post is more of an awareness, its not only 'Cryptocurrency Mining or Staking' that's profitable, this ecosystem is forming a very profitable chain where key points of connection is churning out life changing gains for its investors.

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@daudimitch this post was presented at the most recent Pimp Your Post Thursday on the Steemit Ramble Discord. I have written a post to share your featured post. Just stopping back to let you know that you can see your name in lights right here. (Just kidding about the lights :)

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