Coinbase.com Makes $2.7 Million Each Day
Can you imagine how much work is needed to operate a cryptocurrency exchange? Well, you do not need to think a lot. It is a whole lot of work. Well, it is not like running a real money casino site, which is far much hectic. As you continue to boil your brain over the same, think of how much a cryptocurrency exchange can make. Surprisingly, the amount of money is far much more than any work. Let us take coin Coinbase.com as an example, which is a world’s renowned crypto exchange.
How Does Coinbase Make $2.7 Million Every Day?
The exchange works across the border. It serves thousands to millions of people each day. As usual, exchanges, like pay per head sites, earn commissions. These commissions come from individual clients who transact over the portal. Any fee that emerges from a single client is small. That is the truth. But the fact is that if 1,000 people came on board with $1 million transactions, the commission would be substantive. It is on this calculation that we are basing this write-up. Coinbase has published its annual report. The record on the amount of commission this exchange gets per year is shocking.
Coinbase Makes $1 billion Last Year?
The report shows that Coinbase made a $1 billion in 2017. What does this tell you about the amount the company makes each month? Let’s not talk about something closer home. The right calculation will result in $2.74 million each day. To make it even simpler, it means, Coinbase generates $2, 000 per minute! This amount is from commissions alone. What does Coinbase say about this? Well, what else would you expect this largest crypto exchange to say? The company says that 2017 was one year that saw a lot of online activity. Many people went into digital currencies in 2017 than before.
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Coinbase.com Opens New Accounts & Forms New Partnerships?
In 2017, the company opens more accounts, transacts a lot of digital coins, and enters into new partnerships. As a result, there was the need to add new staff. So, for now, the company has grown regarding the workforce. Because of the strength of the company, many people want to buy shares. Coinbase has confirmed that it has received letters, calls, and emails from clients. What is the aim of the call, emails, and messages? Coinbase answers. Many people are making formal inquiries if they can buy some of the company’s shares. The company looks forward to becoming the world’s number one cryptocurrency exchange provider.
With so many digital asset exchanges, what makes Coinbase different. First of all, Coinbase is the largest United States-based cryptocurrency exchange. Located in San Francisco, California, this online cryptocurrency broker allows people to buy, sell and trade, Bitcoins, Bitcoin Cash, Ethereum, Litecoin, and Ethereum Classic. Also, they allow people to trade crypto is USD/BTC and BTC/USD pairs. In addition to the United States dollars pairs, you can also trade Bitcoin in Euros, British Pounds, and fiat currencies from thirty-two countries. Overall, Coinbase handles altcoin transactions and stores crypto for almost two hundred countries worldwide.
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