Crypto Exchanges Are Quickly Becoming the New Unicorns of the Internet

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In Q1 of 2018, Deutsche Bank Germany’s biggest bank recorded a profit of $146 million. Binance one of the world's biggest exchanges recorded a profits of $200 million. Exchanges charge a fee per trade, revenue is increased as the trading volume increases. In Q2 of 2020, it was reported that there are just over 50 million crypto wallets. The number of crypto holders who use wallets is also increasing each year. The majority of revenue earned by a cryptocurrency exchange is done through commissions. An IEO allows other companies to organize token sales.