The cryptocurrency exchange business is making the fastest turnover of the decade in hours. They tend to be the revolution that people expect and have become an exciting trend in this era. However, a crypto exchange is a platform that facilitates the trade of cryptocurrencies for other assets, such as digital and fiat currencies. Cryptocurrency exchanges, in effect, function as middlemen between buyers and sellers, earning money through commissions and transaction fees.
Centralized vs. Decentralized Exchanges
A centralized cryptocurrency exchange acts as a middleman between a buyer and a seller. Moreover, centralized exchanges are more reliable because they are run and regulated by a corporation. Centralized exchanges handle over 99 percent of all crypto transactions. The following are some examples of centralized cryptocurrency exchanges:
- Coinbase
- GDAX
- Kraken
- Gemini
Decentralized cryptocurrency exchanges (DEXs) allow users to conduct peer-to-peer transactions without the involvement of a middleman. However, certain users choose decentralized exchanges due to some of the disadvantages associated with centralized exchanges.
On the other hand, decentralized exchanges do not allow for the exchange of fiat currency for cryptocurrencies.
The following are some examples of decentralized cryptocurrency exchanges:
- AirSwap
- io
- Barterdex
- Blocknet
To make the statement more precise, you need to know the advantages of both centralized and decentralized exchanges so that you can come to a conclusion on which is better and start your own exchange and earn billions as they are capable of.
The 10 Best Cryptocurrency Exchanges, Ranked by Volume
Centralized exchanges:
According to traffic, liquidity, and trading volumes, the following are the top centralized cryptocurrency exchanges.
- Binance
- Huobi Global
- Coinbase (Pro)
- Kraken
- Bithumb
- Bitfinex
- Bitstamp
- KuCoin
- FTX
- bitFlyer
Decentralized exchanges:
According to traffic, liquidity, and trading volumes, the following are the top-ranked decentralized
cryptocurrency exchanges:
- Uniswap (V2)
- Tokenlon
- 0x Protocol
- Venus
- Sushiswap
- Compound
- BurgerSwap
- Curve Finance
- 1inch Exchange
- PancakeSwap
Cryptocurrency exchange-a profitable business
The bitcoin trade is an excellent example of blockchain technology's utility. However, many organizations now want to start their own profitable crypto exchange and take advantage of the technology's numerous applications.
You have come this far! So, you must be willing to build a crypto exchange and want to know whether it is really profitable? Let me make it clear! A crypto exchange is highly profitable as it tends to bring enormous profits even though the value of the coins is fluctuating. The amount from the exchange is always stable, and you could be receiving money from the commission fee and other associated with it. When you build such a platform, the profit would be free-flowing, like the amount of water you pull from the well. That is the main reason many of them are willing to build a crypto exchange of any sort.
Furthermore, the top 10 cryptocurrency exchanges are generating as much as $3 million in fees per day, or more than $1 billion per year, making them some of the largest winners of the cryptocurrency boom.
Owning an exchange, which has the highest touchpoint with all new customers and many revenue streams, is one of the best ways to get engaged in the crypto business. Also, it is a terrific approach to invest in the cryptocurrency market as a whole while avoiding market volatility. You will be able to produce money daily from different sources as long as your exchange has volume and users. Try hard and earn more with the cryptocurrency exchange.
Conclusion
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Citation : finextra.com
