Binance to the official data of the currency, the company’s profit in the first quarter of 2018 was 200 million US dollars, which is comparable to the Nasdaq of 209 million US dollars. It is worth noting that there are 200 employees in the company, and there are 4,500 employees in Nasdaq, 8 months in the company, and 47 years in the Nasdaq.
An coins, the English name Binance, by its CEO Zhao Changpeng (CZ) led a group of amateur digital assets, a dedicated co-founded blockchain trading platform assets, and now it has indisputably become the world’s largest encryption currency It is not known whether the exchange will have an equal opportunity with the mainstream stock exchanges in the future, but from a capital perspective, the currency security is still a fragrant.
Success, some rely on the situation to create heroes, and some rely on heroes to create the situation, the currency security obviously belongs to the former.
Whether Bitcoin is a stock or a financial product has been controversial throughout the world, and there is no conclusion. The US Securities Commission has never recognized Bitcoin as any form of securities, and therefore no major stock exchange accepts Bitcoin listing transactions. The Nasdaq, the stock exchange most likely to accept Bitcoin listings, also closed the door this time. It is clear that Nasdaq holds the same attitude as the mainstream view, rejecting Bitcoin and its representatives. All encrypted digital currency.
Previously, as the world’s second largest stock exchange, Nasdaq has been known as the shelter of IT companies, constantly using its wings to provide shelter for new concepts, new technologies and venture capital, Apple, Tesla, Netease, Sohu, iQiyi, etc., including a large number of loss-making Chinese Internet companies, such as used cars, tiger teeth, etc., all went to Nasdaq.
Even so, the Nasdaq, which embraces the new economy, has not yet extended its olive branch to Bitcoin.
The situation has given birth to the currency of the currency transaction.
The currency is just standing on the vent, and it will skyrocket. At present, there are more than 200 tradable digital currencies on the Currency Exchange, and the number of registered users of the platform has exceeded 10 million. The transaction volume is the first in the world, and the transaction volume exceeds 4 billion US dollars.
Everything is ready, Dongfeng has come, it seems no surprise that the currency can achieve a profit of 200 million US dollars in the first quarter. In just eight months, the profit of the company has caught up with the Nasdaq, a veteran stock exchange that has Binance established for more than 40 years.
Coin’s home run
Is the profit of a small digital currency trading comparable to that of the Nasdaq that the global Internet giants gather? You can know the profit point of a coin.
It is understood that the profit model of the currency security mainly relies on transactions and withdrawal fees. The official service fee description of the currency security shows that the handling fee rate is one thousandth; the currency withdrawal and transfer, the average handling fee rate is 1%. Some media have reported that the currency network currently handles 1.4 million transactions per second. On the busiest trading day, the currency network can process 3.5 billion transactions a day. According to statistics, on the day of January 10 this year, the transaction amount of the currency net has reached 6.1 billion US dollars. In this way, the light transaction fee is more than 60 million a day. If the transfer and withdrawal are counted, One day’s handling fee may be over 100 million.
In addition, the cost of the currency is also a large source of income for the exchange. Previously, it has been circulating a single item for up to 20 million yuan, but the author carefully checked the round, although this is a lot of income, It is not like a rumor.
The author understands that most of the exchanges are linked to the BTC, and the fee for the money is a 20BTC+100BTC deposit, which is not a huge profit. In addition, OKEx 0-50 million tokens; fire coins 500,000 tokens; HitBTC is 0-30BTC+10BTC in tokens; Bit-Z, Binance is 5/7/15BTC+100000 in tokens, from which it seems that the currency is still The higher the threshold.
In addition, the exchange will also have a small portion of service fee income, such as ICO’s consulting service fees; system licensing fees; early investment incubation services and fund investments in planning, etc., this part of the profits will gradually show its strong growth momentum in the future.
In short, the currency uses a simple business model to cover all trading scenarios and investment scenarios of encrypted digital currencies, and the oligarchs are just around the corner.
In the 1970s, some small and medium-sized companies in the United States directly entrusted banks to buy and sell their own stocks because they could not be listed. This form of the transaction was regarded as an over-the-counter transaction. Later, with market makers (intermediaries), the over-the-counter transactions became bigger and bigger, and the guild organizations came forward to manage, set rules and regulations, and gradually formed a market. In this context, Nasdaq came into being in 1971.
At the beginning of Nasdaq, it was specifically for Binance transactions of SME stocks that were not yet listed on the stock exchange. As the quality and quantity of unlisted securities increased, OTC transactions became increasingly active. Nasdaq has also gradually positioned its clients in small and medium-sized high-tech growth companies, and lowered its listing standards in terms of its size and profitability, and promoted the combination of financial capital and high technology. High-growth companies, so that Nasdaq gives the impression of supporting technology-innovative companies.
In May of this year, Nasdaq CEO Adena Friedman said in an interview with CCN that he believes blockchain technology has the ability to reshape the current economic model. I believe that Nasdaq is also very much looking forward to the US Securities Commission’s support for ETFs, otherwise, Nasdaq will lose more in the digital currency.
In addition to the currency security, many encrypted digital currency exchanges are growing. It is understood that Bitumumb, Korea’s largest bitcoin exchange, has a profit of US$400 million in 2017; the world’s largest bitcoin exchange, Bitfinex, has a profit of US$1 billion; okcoin mother The company announced its earnings report, with a profit of $26.58 million in 2017.
The future of the exchange
Although the encryption of digital currency has emerged in the state of breaking existing rules, with the development of blockchain technology, it is unthinkable that Bitcoin will be on the mainstream exchange in the future.
Global integration is the development trend of exchanges. Throughout the history of global stock exchanges, in order to compete for market resources and pursue scale effects, mergers and acquisitions and integration between stock exchanges have never stopped. When Nasdaq swelled to the top, it tried to build a global market. Although this ambition broke with the break of the IT bubble, Nasdaq’s ambition never stopped.
The Bitcoin ETF has been delayed in the US Securities and Exchange Commission (SEC). Although it has caused the price of the currency Binance to fall, in the long run, the Bitcoin ETF application must have passed the day because the situation is already there.
By then, I believe that Nasdaq will not let this opportunity go. Will Nasdaq unify the digital currency trading market in the form of acquisitions as before? Still, Binance Still, have to wait.
[su_quote]This article is writing on 04 September 2018 based on information available online & news portal. If you feel it’s outdated or incorrect, please write here to update it. Mail us: [email protected] Or Whatsapp Us- +13098896258[/su_quote]
The Information Presented Here Does Not Constitute Investment Advice Or An Offer To Invest. The Statements, Views, And Opinions Expressed In This Article Are Solely Those Of The Author/company And Do Not Represent Those Of Coinworldstory. We Strongly Advise Our Readers To Do Your Own Research (DYOR) Before Investing In Any Cryptocurrency, Blockchain Project, Or Ico, Particularly Those That Guarantee Profits. Furthermore, Coinworldstory Does Not Guarantee Or Imply That The Cryptocurrencies Or Projects Published Are Legal In Any Specific Reader’s Location. It Is The Reader’s Responsibility To Know The Laws Regarding Cryptocurrencies And Icos In His Or Her Country. Please Respect Your Country Law & Take Advice From Your Advisor .