Bitcoin Forum

Anyone have a rough idea of how much profit Poloniex.com is bringing each day?

Please point the approximately amount in BTC or USD

Thank you!

in past few days in all exchanges price fluctuation was from 606 - 613$ pet bitcoin
you do match if you sell 613 and buy on 606 do this few times a day and you can make some profit small but still can make some

Depends on the certain coins you trade, and every day the price changes so one thing I am certain is only poloniex who are making consistent money while traders are completely gambling. If you refer to BTC, the recent days was a good time for making profit because the price is continuously increasing.

I dont  really have an idea how much does poloniex would  bring each day but 1 things  for sure they would  be profitable in  any way and make money to their traders. I cant actually estimate but  for sure  they are profitable. Some members were right  that  traders are  completely gambling.

this profit under fee transaction x to volume transaction

under 0,15 x volume transaction , the real profit still under commision maybe 0,05 x volume transaction this clean profit

it's depending about how much his volume, also how much people get highest tier.
i think the minimum of profit is 0.38%(maker+taker tier 2)  x volume
detail fee of poloniex https://poloniex.com/fees/
example today volume of poloniex 24hr Volume: 23503 BTC / 2967 ETH / 1807 XMR / 519650 USDT  so poloniex get 89.314BTC/11.2746ETH/6.8666XMR/1974.67USDT

From the poloniex charts we can see that the total amount that was traded the last 24 hours is $14,898,411  or 24,446 BTC then we should calculate the 0.2% in average (because the fees are from 0.15 - 0.25%).

i think it will be different for big player and small player. but for me, its better to have stable 0.001 btc in hour and for a day in 0.01 btc. i think we can get 3% profit for each day rather than we only wait for example 2 days or 5 days only.

that's for taker and maker in 1 transaction, 1buy or 1sell, poloniex take fee twice, from seller and buyer, so poloniex get profit 0.15%+0.25% from transaction in same tier 1, 0.14% + 0.24% from same tier 2 i think the average profit 0.38%

it is hard to calculate this for poloniex because they have a variable kind of fee calculations and it makes it difficult to come up with the exact amount.

according to Coinmarketcap (https://coinmarketcap.com/exchanges/poloniex/) poloniex had 24,675 as of this moment (this is the current volume from morning up until now not the total daily volume) that i suppose is somewhere between 50K to 100K depending on the day and how many pump and dumps are happening.

according to fees (https://poloniex.com/fees/) it can be between 0 and 0.25%
so on each trade i take a medium of 0.125% which will be calculated twice (one from maker and one from taker) and makes it 0.25 on each trade.

for 24,675 that would be 61.68BTC

In this day for trading in BTC/USD just will bring a small profit and maybe it's will not bring a profit, because too many the traders is starting migration into alt coin and that will giving bad effect into bitcoin trading and considering his rate and the volatility in this time.

that's damn big amount of profit,with only USD to BTC / BTC to USD they can gain that much then how if we total the profits plus from an ALT COIN
well now i'm feeling regret why i can't code and make an exchangers LOL

Hey, let's not forget front running. There's no law against it and they'd be sorely tempted to do it. They must be swirling in insider info as well. Witness the ETC launch. That was proper fishy.

that is exactly what i came here to say.

these exchanges are not only relying on a fair business and earning only through fees. that is nothing for them compared to the massive amount they gain from their manipulations.

whenever people say willibot or manipulation everybody thinks of MtGox and how they are dead and gone but they forget that all these altcoin exchanges like poloniex are still doing similar thing with altcoins.

poloniex have gone offline, frozen accounts and withdrawals a lot of time during the initial ethereum pump which was all to prevent the dumps whenever there was a negative news about it and there was a fear of mass dumps. and these are all because they have invested lots of their money in it.

I hope to be good at math so 0.4% in average from both the seller and buyer from $15m is equivalent to $60k within a day, x30 days(in a month) is equal to 1.8 million us dollars profit monthly!!! Correct me someone if I made a mistake.

That is insane, are they even regulated by any government?

As far as I know yes and I found in their website Wilmington, DE, USA but the profit which I calculated is very high and of course that a good part of it goes to maintain the exchange and updating the security holes which is the most important part of an exchange.

lol
you do know that the address poloniex website lists is(whois search)
5 Middlesex Ave, Somerville, MA 02145, United States
which is just a virtual office/mail service
http://www.alphalandmark.com/

as for the wilmington DE address
(1013 Centre Road, Suite 403-B, Wilmington, DE 19801, United States)
which is just the address of their incorporating agent
http://www.inclegal.com/

in short, you wont find Mr. Tristan D'Agosta in either location unless you call him up and give him a few days notice for him to get there and pretend he has always been there.

atleast mtgox had a fixed address where people can see the owner walking to work with a cup of coffee to be able to protest outside of when things went wrong.https://www.youtube.com/watch?v=qd0jMns_Neg
same cant be said about poloniex

Poloniex has a 24 hr volume today of 43726 bitcoins and 5885 users online. I don't know how much money they are making, but I'm sure you could compare trading volume to other exchanges.

i think that Poloniex bringing a lot profit but there is no one have accurate idea that profit of Poloniex , and Poloniex is a popular and big exchange so i am sure that Poloniex are  getting a huge profit each day.

i think they earn at least 500$, but could be more

if you asking about how much poloniex get profit from his service each day you can look at volume transaction and you can multiplied it with fee transaction so you will know poloniex profit but its only approximately.
but if you asking about how much profit trader get from poloniex is only trader know no one know  :)

transaction are one thing but trading is something complete different that right number is hard to tell only can be guessed and you can not follow all trading in same time you can only speculate but considering that they were hacked and that they payback to all users all amount we can only assume that they made huge amount of money

I am sure it is easily much more than that. I haven't used poloniex much they are definitely doing more than 100 BTC a day in trades, which alone would get them more than this amount to start with.

I guess its around 100 BTC per day after some calculations based in fees and volume.

Thanks everyone

Wow, is that for real? How did you do the calculation dude? Would like to share it with us, that is a big profit already and even in one day I still cannot believe that a trading site is that profitable.

Well, they say they keep 0.25% in fees so I just got the volume for some days and sorted that out that number

i think it is not so open to estimate it that how much poloniex can bring each day, but if we look a the volume of bitcoin that trade in poloniex that show that a very good profit is expecting from poloniex on daily basis.

This is very nice amount, 100 btc is more then 60 000 $ every day. In a year they will be millionaires. I thought they earn a lot, but this is a lot in
my opinion. This is some serious business, with this amount maybe they even earn more then some casinos. How much coins casinos earn per day
or month. This is interesting topic, there is a thread about living with earning from bitcoins, well this boys that work for poloniex for sure can live
from bitcoins.

Well yes and remember there are too sides of every trade.
Buyers pays .25% and the seller does. So it's safe to use .5% of their volume. At this moment it's 32M

Source: http://coinmarketcap.com/exchanges/poloniex/

Which means 32.308.513. Which means

Half of 1 % of 323085,13 = 160000 +

Does it really matter? If ever I hope they are getting a profit that can pay up for every employee they have and some more for their maintenance that would protexct our dear money there.
I dont have the numbers and I dont want to know it. It is better that way so you womt see if it is almost like robbing us if ever it is a big amount.

how can you estimate that 500$ or round about, i think it not so easy to estimate the income of an exchange because there are thousands of coin register with them and they every coin has their own volume so it is very difficult to estimate the exact amount of profit of poloniex.

I didn't see that video but seems better than poloniex, well if that is virtual address then this is not good but people don't care much because we can see the total trading volume in bitcoin and we can estimate how many millions do they earn each month.

Its definitely not 100 BTC per day. At 0.25-1% , you need to estimate the right amount traded on there. And thats obviously no where close to 10-20K per day. Bitstamp and similar exchanges on the other hand might be doing somewhere in that range. Which is why they were able to absorb the 2K BTC that hacked on their site.

They have a 45k BTC volume per 24hs aprox + other currencies

If we get 45k btc divided by 0.25 it's 112 btc maybe a bit less but over 80 btc per day for sure.

they might have around 100 btc per day with all other coin on exchange we cannot know for sure only if we follow every transaction for 24 hour on all coin they just maybe
but even in that case we could not know for sure where is withdraws that need to be counted and that is something that we dont know how much they do

It's impossible to calculate the fees collected because one of the trading tiers gives you free trades. We have no idea how much of the volume is free trade volume. You could try calculating money from lending, but we don't know the volumes. They take a 15% cut of interest earned.

Then they also have altcoin launches, which I believe they used to take money in the past. Not sure about now.