Top Binance Exchange Look at $ 1 billion in profit for 2018

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Bianace - Top Binance Exchange Look at $ 1 billion in profit for 2018

CRYPTOCURRENCY EXCHANGES-Leading cryptocurrency exchange Binance thrives in 2018 there was a sharp decrease in cryptocurrency prices. As mentioned last month Arthur Hayes, one of the founders of BitMex, the falling price of crypto currency has not shrunk the growth most investors see throughout 2018. As investors rush to secure their funds and find Profits on the bear market continue to grow through its model of market interest rates and other miscellaneous charges, such as withdrawals. Compared with traditional brokers like E-commerce, Charles Schwab or other portals choice, tariffs placed on encrypted transactions are the continent, which often costs them less than a quarter of a percent of Total Transfer Value.

Crypto exchanges Worth Billions

Ben Delo, who founded BitMex with Arthur Hayes 2014, created headlines this week when The Daily Mail revealed that he had become the youngest billionaire in the history of Britain and the first “billionaire Bitcoins” to emerge in the United States. Obviously, despite the exchange of the warhead entering and leaving the crypto industry, the exchange and their employees flourish in the uncertain market situation.

Binance, currently ranked as the number one stock exchange criptomona’s daily trading volume, said Bloomberg expected $ 500 million to $ 1 billion by the end of 2018. Despite the exchange facing significant technical difficulties last week, which brought trade to a halt and raised the constant concern for a trick (and also gave investors the iconic response “funds Safu”), Binance CEO, Changpeng Zhao, told Bloomberg that the company received $ 300 million in revenue in the first half of the year, the customer base grew beyond the 10 million users .

While other exchanges like Coinbase have talked about having a higher customer base, Binance has achieved unrealistic growth in the first year of its existence. Zhao founded the exchange in July 2017, after raising $ 15 million through an ICO. The company now experiences an average turnover of $ 1.5 billion a day, with a customer base growing from the 2 million users reported at the beginning of the year.

Given the dark panorama of encryption exchanges, the lack of regulation and the opportunities for government oppression in many countries in the world, competition for trading platforms has been small compared to the benefits that will be gained. In addition, established exchanges such as Coinbase based in the US have struggled to capitalize on demand, accused by Business Insider have insufficient resources to handle the burden of their customers as well as 134 pages of complaints to the SEC.

binance 1 1080x640 - Top Binance Exchange Look at $ 1 billion in profit for 2018Compared to Coinbase, which offers four crayon shovels to buy and sell, Binance is an industry leader in the choice of crypto courses for trade. However, it suffers from the ease of use and accessibility offered by other platforms based on mobile devices to customers. As it says, the average investor who has just entered crypto curves is difficult to navigate to Binance, even though the registration process itself is quite simplified. But it only reveals how much space the exchange has allowed to grow, and the base for untapped customers where it can expand.

With the acceptance of encryption exchanges such as banks and financial institutions in South Korea and the imminent possibility of regulation in several other countries, prospects for exchanges may increase as businesses and entrepreneurs try to benefit from the major commercial benefits.

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Seng Mangan

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