How Quickly Things Change
This is a snapshot of the top crypto exchanges by volume, on 4th July 2016. Mostly Chinese exchanges, mostly primarily Bitcoin with Litecoin as a secondary option. Back then Poloniex was ranked 12th, in fact when I joined Poloniex in 2015 they were obscure. In June that year they were ranked 27th at a time when there much fewer exchanges. Today Poloniex still doesn't even have a fiat trading pair. They're a 100% crypto-only exchange, although you can fund TetherUSD with a wire transfer.
This is the picture today:
The rise of altcoins as well as the Korean market have changed the situation completely. Exchanges that stuck primarily to Bitcoin trading have dropped severely down the list, the top altcoin exchange is now the second top exchange globally, and I'm not even familiar with xBTCe...
The landscape looks even more different when you go through the full lists. You can see the current rankings at ExchangeWar.Info and older pages using the WayBack Machine.
Also of note is that @bitbay.net who just joined Steemit today is 42nd on the list worldwide.
I had no idea that there were that many! I have checked out BitBay. Very professional looking site and will read more about it. I probably will take it out for a test run. Thanks for the links!
xBTCe is number one?? Wow, i didn't know that.
Thanks for this interesting information. Although there is a lot of poloniex bashing here on steemit, we see polo so high in the ranking. The trading volume soared rapidly during the altcoin rallye in the beginning of this year. Perhaps this may be a reason for the issues. I suggest to everybody to use two crypto exchanges as mimium.
Agreed, and where possible you should keep your crypto in your own wallet, not on an exchange. Only exceptions might be the ones that get backlogs, for those you have to weigh counterparty risk vs. the risk of getting your transactions stuck when you want to sell...
Yes, the ability of fast trading and security of the funds must be balanced. So, If you use more than on exchange, the risk is divided.
Interesting report i remember the btc price a year ago less than 800USD :(
I wonder will this comment get an upvote from a certain landowning robot.
hahah try your luck.
That changed in a fraction of a second :D
Greaaat :D .. I appriciate it
Thank you for sharing @demotruk
Have a nice day :)
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