Cryptocurrency Exchanges: Overall Survey

ICO funding has been declining from a record of 1.7 billion dollars in March to under 0.2 billion in October 2018. On the other hand, the cryptocurrency exchange is on the rise. One of the reasons behind this phenomenon is the high profitability offered by cryptocurrency. Other factors include the competitive packaged solutions offered by several trading companies. The sphere resembles the e-commerce at the dawn of its formation and it shows a lot of promise.

Recently, BDCenter has performed a detailed analysis of cryptocurrency trends. BDCenter specializes in cryptocurrency projects. The company has hands on experience through collaboration with four cryptocurrency exchanges and has successfully launched several ICOs. A detailed report of cryptocurrency trends has been published on BDCenter website. Here is a summary of the findings.

BDCenter has analyzed the location of the exchanges registration and the documents regulating their activities. The results showed that most of the exchange companies have offices in more than one country. With the exception of exchanges operating in China, an exchange could have an office in one country but could be subjected to the laws of another.

The report also analyzed cryptocurrency tokens circulation. It was shown that, at least 13 exchanges have their own tokens. These tokens were predominantly created in 2017 or 2018. In addition, the investigation was able to identify unique features offered by various exchanges. Investigating the profitability and revenues revealed that the most profitable exchanges are Huobi, Coinbase Pro, Bitfinex, EXX, and Binance.

The analysis also highlighted the fact that almost all exchanges have English versions of their websites. It was also shown that, most exchanges are adapted for residents of Asia and only nine for Russian-speaking users.

The ‘fiat currencies acceptance analysis’ demonstrated that 13 out of 30 exchanges have a fiat gateway with some of them offering 0% deposit or 0% fiat output. The largest number of fiat currencies were reported to be offered by Simex and Kraken exchange platforms.

Social media industry was also studied from a cryptocurrency point of view. According to the report, the main social network for cryptocurrency exchanges is Twitter. The average involvement there was around 52%, while the average frequency of posting is 2.2 tweets per day. Many exchanges have accounts in social networks but they are inactive. Interestingly, the study showed that none of the CEOs of any cryptocurrency exchanges could be called a public figure. More details and figures could be found in the survey.

The effect of e-mail marketing was also extensively researched. It seems that players in this field have an opportunity to run various kinds of experiments aiming to motivate users to make/replenish the deposit. The study also analyzed referral and affiliate programs of the top 30 selected Exchanges. According to their published statistics, the page with the referral program is the second frequently visited.

The reported investigation also revealed the target audiences of cryptocurrency exchanges.

The study analyzed the software used by traders. The full list of the programs and apps is found in the target paper. From a geographic point of view, the majority of traders come from the United States, China, Russia, Vietnam, and Turkey. These are mostly men aged from 20 to 30 years old. The investigation showed that irrespective of the exchange, the biggest number of traders are aged between 25 and 34.

studyFinally, the report analyzed the opinion leaders on Tradingview, YouTube, Telegram channels, and Forex. The analysis showed that the most popular traders in the world and the country of their location. The report claimed that Forex brokers have been in the cryptocurrency market for a while already. Forex traders were encouraged to take part in trading using simplified trading terms without a prerequisite for a deposit. Also, brokers often provide an impressive leverage, offering extensive training materials, in depth analysis. To get more details and have an access to the full report, go to the website of BDCenter.

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