Coin exchange net profit’wormwood’… Bithumb 10 times, two trees 5 times in a year↑

Bitcoin trading around 65 million won
Bitcoin trading around 65 million won

(Seoul = Yonhap News) Reporter Lim Heon-jung = Cryptocurrency Bitcoin is trading at around 65 million won on the morning of the 23rd.
In Bithumb, bitcoin mainly fluctuated from around 66 million won the previous day, but this day is showing a downtrend.
The photo shows Bithumb Gangnam Center in Yeoksam-dong, Gangnam-gu, Seoul. 2021.3.23 [email protected]

(Seoul = Yonhap News) Reporter Seong Seo-ho = Starting from the end of last year, the domestic investment fever of cryptocurrencies (virtual assets) such as bitcoin has heated up, and the net profit of domestic exchanges has also increased sharply.

Bident, shareholder of Bithumb Korea on the 23rd[121800]According to the business report (consolidated basis) of Bithumb Korea last year, Bithumb Korea’s sales amounted to 219.1 billion won, up 51.4% from a year ago.

In particular, the net income for the period was 127.75 billion won, up 873.5% from the previous year (13.90 billion won).

An official from Bithumb said, “Since the second half of last year, as the price of virtual assets such as bitcoin increased, the number of members who chose Bithumb increased and transactions were also active.”

Last year’s sales (consolidated basis) of Dunamu, the operator of the virtual currency exchange Upbit, reached 17.67 billion won, an increase of 26% in one year.

During the same period, the net income of Dunamu was 46.4 billion won, a 391.1% increase from the previous year (9.46 billion won). In addition to Upbit, Doonamu also operates a mobile stock information service,’Securities Plus,’ which accounts for the largest portion of the total sales.

The cryptocurrency market was quiet until the beginning of last year, but it started to catch fire in November.

Bitcoin, the leader of virtual currency, recovered around 20 million won in 2 years and 10 months at Bithumb on November 18 last year, and then surged to 71 million won, the highest price ever since this month.

The main source of income for cryptocurrency exchanges is transaction fees.

Bithumb fees apply from 0.04% (coupon applied) to 0.25% in both the KRW market (market) and the Bitcoin market.

In Upbit, a fee of 0.05% in the KRW market (0.139% in case of pre-order) and 0.25% in the bitcoin market and tether market is applied. Buy and sell other virtual assets with bitcoin in the bitcoin market and tether in the tether market.

The fees of the two exchanges are somewhat different by market, but the overall average is 1%, which is not significantly different.

[email protected]

Upbit Bitcoin Price
Upbit Bitcoin Price

On the morning of March 18, the bitcoin price is displayed on the display board at Upbit Lounge, a cryptocurrency exchange located in Gangnam-gu, Seoul. [연합뉴스 자료사진]

Source