GM #Nostr
If you are wondering how expensive the trading fees on Indian ๐ฎ๐ณ exchanges are.
Letโs make an assumption that the average 24-hour trading volume of Top Indian Exchanges is $10 million (โน90 Cr)
๐ 30 Day Trading Volume: $10M ร 30 = $300M or โน2700 Cr
๐ 1 Year Trading Volume: $300M ร 12 = $3.6B or โน32400 Cr
Yearly Revenue Through Fees๐
โ CoinDCX: $3.6B ร 0.5% = $๐๐๐ ๐จ๐ซ โน๐๐๐ ๐๐ซ
โ WazirX: $3.6B ร 0.4% = $๐๐.๐๐ ๐จ๐ซ โน๐๐๐.๐ ๐๐ซ
โ CoinSwitch: $3.6B ร 0.49% = $๐๐.๐๐๐ ๐จ๐ซ โน๐๐๐.๐๐ ๐๐ซ
Now let's compare it with #Bybit
If Bybit was doing $10 million (โน90 Cr) in daily trading volume
Its yearly revenue would have been $๐.๐๐ ๐จ๐ซ โน๐๐.๐ ๐๐ซ which is ๐๐% less than Indian exchanges ๐ฑ
When you dive deeper into these things, you will know that 30% Tax and 1% TDS are not the only things that are stopping Indian users from using Indian exchanges.
There are plenty of other reasons, like
๐ฉ High Fees
๐ฉ Withdrawal issues
๐ฉ Bad UI
๐ฉ Very few #altcoins to trade etc.
that are causing Indian traders to flock to foreign exchanges, which, IMO, isn't a bad move.
Claim your reward on Bybit here: https://www.bybit.com/en/invite?ref=G2QA86