How do crypto exchanges make money?

In the world of cryptocurrency, exchanges play a pivotal role, connecting buyers and sellers. But how exactly do these crypto exchanges generate revenue? One key source is trading fees, charged to users for executing trades on the platform. These fees can be fixed or variable, depending on the exchange's policies. Another stream of income is through listing fees, charged to token issuers for listing their coins or tokens on the exchange. Additionally, some exchanges offer margin trading or leverage, and charge interest on borrowed funds. Some exchanges also earn through their own token or coin offerings, generating funds through sales and potential appreciation in value. Furthermore, data analytics and advertising on the exchange platform can also contribute to the overall revenue. Understanding these revenue streams is crucial for investors and traders to make informed decisions when choosing a crypto exchange.