How cryptocurrency exchanges make money

Centralized exchanges charge fees for transacting in cryptocurrency and for interacting with banks. A common transaction fee can be the “spread” that is charged above the actual value currency to be transferred is one avenue used by the exchanges to make money. In addition to the spread, other exchanges will charge flat commissions on a per transaction basis. Other exchanges may charge signup fees and/or annual account “maintenance” fees. Be sure to understand all these fees before you use an exchange.