Crypto Exchanges Report Staggering Incomes

According to recent research made by Nauticus, running a cryptocurrency exchange is like having “a license to print money.” Generating the money from charging users transaction fees, crypto exchanges have been constantly increasing their income. Now major exchange platforms are earning several millions of dollars in daily revenue. Indian tax officials, however, believe the profits of exchanges to be even bigger, estimating the combined annual revenue of 10 largest exchanges at $6.25 billion.

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Nauticus claims that the revenues indeed grow exponentially. The fees, however, is not the only source of income for exchanges. The price of listing a coin on an exchange can range from $50,000 to $1 million, depending on the status of the platform.

Nauticus also noted the successful launch of various exchange-branded coins, putting special emphasis on Binance Coin:

“Exchanges have also seen spectacular growth in their home brand coins. KuCoin Shares, which launched in September, increased by 2,738% to its all-time high…But the all star performer is the Binance Coin which offers a 50% reduction in trading fees. It increased more than 22,000% to its all-time high and is currently 12,000% up on launch. It’s made everyone who invested in the Binance ICO very wealthy.”

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