Binance Looking For $1 Billion In Profit This Year

in #news3 years ago

According to an interview aired by Bloomberg today, Binance, the number one crypto exchange is expecting profits up to $1 billion this year.

Please read again: $1 billion.

In profits.

If you take into account that Tesla is not yet profitable and that Apple's 2017 net turnover is $45 billion (whereas Binance moves more than $1 billion daily) these numbers are absolutely mind boggling.

It's not yet clear if the profits will come solely by margin trading, or if the Binance token - which is basically "money out of thin air" - will play a relevant role in these numbers.

What's clear, though, is that Binance's expansion to other markets, like Uganda, and the recent relocation to Malta, which just regulated crypto currencies, are definitely helping big time.

It's interesting to watch now what other players, like Coinbase or Huobi Pro, are going to do about this.

I'm a serial entrepreneur, blogger and ultrarunner. You can find me mainly on my blog at Dragos Roua where I write about productivity, business, relationships and running. Here on Steemit you may stay updated by following me @dragosroua.

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That would be a really big achievement for Binance and the whole crypto market as well...

This is just the beginning, if binance accepted deposit of FIAT money instead of 1 billion they could double or make it 5x times more. I only use Coinbase to deposit FIAT and then binance to buy altcoins ;)

Binance has been hard at work they are focusing on security and giving best user experience they deserve it

Wow, that is amazing, and I really hope that it will be an amazing half of year for crypto after all the decrease in prices that we had. The way to a new world of transactions is not an easy one, but it is satisfying!

And they still won't give you back your cryptodust.

Very great news , big achivement for binance of whole crypto market . It is quite possible to go beyond $1 billion profit in binance .

Thanks for sharing @dragosroua
Upvote you .

We may see more investors in the crypto space should it happen. Great news

binance is expanding it's market ,its quite possible to go beyond $1 billion of profit.

To me it's bringing out an undertone,
"Cryptocurency is the new gold mine"

To have net that much profit in just a year in trading is a huge success.
Coinbase and Huoboi see hope in the news.

Trading in binases is very easy, very fast..

@dragosroua This will be a big milestone for binance. Being a new exchange, it has dominated the crypto market in 2018.

Very well @dragosroua
It really good amount profits
(Best of luck)

Fix the dust issue Binance. Damn!

More profit than Deutsche bank last quarter. That is unbelievable