zedicus
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August 16, 2014, 10:14:48 PM |
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they are surely less profitable now, but usually they are the most profitable thing, between fee/voting and other stuff, they earn lots of btc per day, but you need a good employers with security internet study ecc....
I think that the altcoin exchanges likely make a lot of money from coin voting "fees"....I really think that is almost a genius idea to have people "vote" to have additional coins supported on their exchanges with their money. I would think that it usually costs next to nothing to have an additional coin supported by the exchange and the exchange could protect themselves by mandating that a higher number of confirms is needed for coins that are less secure.
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picolo
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August 16, 2014, 10:43:26 PM |
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Extremely profitable , I used to do small exchanges with a group of friends with anyone we could find. (:
They have high costs and low margins so they may not be all that profitable, remember mtgox...
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Candystripes
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August 16, 2014, 10:44:59 PM |
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Think of it like this. You make a small exchange, get 1 BTC transacted within a day with .5% fee, $30. Now 10 BTC, $30. 100 BTC, $300.
What if you were to transact over 5K BTC a day? That would make you $15K a day running an exchange site. Big sites like bitstamp would make even more than that.
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--------------------------------- No longer under the possession of Candystripes. Account is currently dormant.
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cryptworld
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August 17, 2014, 01:32:51 AM |
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now bittrex is one of the most profitable some btcs a day around 50 btcs month highly profitable I think
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johny08
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August 17, 2014, 03:09:07 AM |
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cryptsy.com is on cryptostocks and paying dividends regularly. you can see what ROI numbers they are having.
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xkeyscore89
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August 17, 2014, 04:54:11 AM |
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they are surely less profitable now, but usually they are the most profitable thing, between fee/voting and other stuff, they earn lots of btc per day, but you need a good employers with security internet study ecc....
I think that the altcoin exchanges likely make a lot of money from coin voting "fees"....I really think that is almost a genius idea to have people "vote" to have additional coins supported on their exchanges with their money. I would think that it usually costs next to nothing to have an additional coin supported by the exchange and the exchange could protect themselves by mandating that a higher number of confirms is needed for coins that are less secure. I was shocked the first time that I saw this on cryptsy. If I had guess I would say that a lot of the altcoin hypers will spend a lot on "voting" on exchanges for their altcoin to be accepted.
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ajareselde
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August 17, 2014, 10:27:53 AM |
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I think ;)A good exchange is very profitabel
If you take btc-e for example, with multi million dollars turnarounds daily, and 0,2% fees, it is not that hard to see that its highly profitable. There are some other things one should also be aware of, like the amount of security and maintenence that is needed to run such high volume operation. I wonder how they keep their relations with banks, since bitcoin is still considered a gray area.
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Bogleg
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August 17, 2014, 11:08:44 AM |
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Very profitable.
Bter just paid a hacker 440 btc to return 42M NXT coin rather than just close down the business and declare bankruptcy.
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ajareselde
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August 17, 2014, 11:27:39 AM |
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Very profitable.
Bter just paid a hacker 440 btc to return 42M NXT coin rather than just close down the business and declare bankruptcy.
In what way were the coins stolen in the first place? Never considered bter for an exchange that would be able to pay such an amount. Well there you have it, if you want to get rich, just open up and exchange ![Tongue](https://bitcointalk.org/Smileys/default/tongue.gif)
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zedicus
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August 17, 2014, 04:53:18 PM |
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I think ;)A good exchange is very profitabel
If you take btc-e for example, with multi million dollars turnarounds daily, and 0,2% fees, it is not that hard to see that its highly profitable. There are some other things one should also be aware of, like the amount of security and maintenence that is needed to run such high volume operation. I wonder how they keep their relations with banks, since bitcoin is still considered a gray area. You need to understand that the numbers you are quoting are only the exchanges' revenues. They must still pay their expenses which are far from free. I don't think btc-e spends a lot on compliance costs, but they probably spend some non-zero amount. They have to pay for their servers and internet so people can access their site. They need to pay people to maintain their site and for security. All these add up and are probably a lot.
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Ayers
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August 17, 2014, 07:26:55 PM |
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now bittrex is one of the most profitable some btcs a day around 50 btcs month highly profitable I think
you should have looked before, the profit was to the moon literally, high volume for every coin made, now there just chip
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zhinkk
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August 17, 2014, 07:29:12 PM |
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If I had a team of dedicated developers who had a strong background in security, I would definitly look into making a secure and open exchange. Flat fees based on percantages sound extremely profitable one large volumes of coins are
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wasserman99
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August 19, 2014, 04:47:29 AM |
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If I had a team of dedicated developers who had a strong background in security, I would definitly look into making a secure and open exchange. Flat fees based on percantages sound extremely profitable one large volumes of coins are
But wouldn't this cost a lot of money? Do you think that your trading fees and other fees would compensate for the cost of paying your devs and security? I personally do not think so.
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unpure
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August 19, 2014, 07:23:13 AM |
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If I had a team of dedicated developers who had a strong background in security, I would definitly look into making a secure and open exchange. Flat fees based on percantages sound extremely profitable one large volumes of coins are
Just put 90% of the coin on cold storage if you run an exchange. No one will be able to steal it.
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Mieehayii
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August 19, 2014, 09:26:02 AM |
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If everyone withdrawals the money from the exchange, what would happened?
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MoonTime
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August 19, 2014, 12:50:48 PM |
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Big fees means bigger profit. But this makes customers avoid you.
Another step sites take is to limit minimum amount of transaction which can be exchanged.
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JorgeStolfi
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August 19, 2014, 01:10:42 PM |
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If everyone withdraws the money from the exchange, what would happen?
If the exchange is honest, nothing special. Trading would stop of course and the exchange would stop collecting fees. If the exchange is dishonest, they may have invested some of the clients' money into stock, Ferraris, caviar, strip dancers... then the exchange may be unable to satisfy all withdrawals and then will be forced into bankruptcy.
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Academic interest in bitcoin only. Not owner, not trader, very skeptical of its longterm success.
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iluvpie60
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August 19, 2014, 01:25:37 PM |
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MCXNow, Crypsy, BTCT, BTC-E?
I'm conducting a survey to determine the actual profitability of the popular exchanges.
Does anyone have any idea of what the volume is for these exchanges? What these exchanges make weekly or monthly and how we could find out?
The easiest way to figure this out is look at their 24 hour trade volumes. you can see they take a .2% fee. so take all of the USD or all of the BTC or whatever, add it all up, multiply by .002 and thats how much they made in a 24 hour period.
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Fearless
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August 19, 2014, 01:26:34 PM |
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Reputable exchangers can take advantage of trust by their fee. I feel its clear scamming.
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21pilot
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August 19, 2014, 02:24:08 PM |
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Reputable exchangers can take advantage of trust by their fee. I feel its clear scamming.
what exactly is scamming about this is you take a fee (often a very small one) for providing a service to other people?
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