How Many Users Does Coinbase Have? 54 Statistics (2024)

Coinbase is a secure platform that makes it easy to buy, sell, and store cryptocurrency.

Here is an overview of this fast-growing company.

Coinbase users

Coinbase has 73 million total users in 2021, making it one of the fastest-growing companies in the cryptocurrency industry.

Source: Coinbase⁽¹⁾

Coinbase monthly active users

Source: Coinbase⁽¹⁾

There are 6.1 million Coinbase users who make at least one transaction per month.

Source: Coinbase⁽¹⁾

Coinbase generated $1.28 billion in revenue in 2020. And has already made more than $4 billion in the first 3 quarters of 2021.

Coinbase revenue

Sources: Coinbase, Reuters

• In 2016, total revenue for the platform was just $16 million.
• By 2017, that had jumped up to $927 million.
• In 2017, 50% of Coinbase revenue came during December, when the price of Bitcoin rose from $6,540 to $14,782.
• In 2020, revenue rose sharply again, coming in at more than $1.1 billion.
• Revenue has more than quadrupled in 2021, with the company generating more than $4 billion despite the year not yet being over.

Coinbase generated $1.1 billion in transaction revenue in 2020 - a 2.37x increase over the previous year.

Statistics show that 86% of Coinbase's revenue is from transaction fees.

Source: Coinbase⁽¹⁾

The more cryptocurrency is worth, the higher the transaction revenue becomes.

• Revenue reports for the second quarter of 2021 indicated that the company had generated $1.9 billion in their transaction revenue.
• As soon as the reports came out, the stock price of the company rose more than 2%, thanks to the favorable profitability.
• Thanks to the high transaction performance, stockholders earned more than 50% more for each share than anticipated.
• Shares were expected to earn about $2.33 each, but instead they earned $3.45 for this quarter.
• The second quarter of 2021 had the second-highest transaction revenue ever reported by Coinbase, even though Bitcoin's value fell substantially during that time.
• This may indicate that the company is succeeding in expanding to parts of the cryptocurrency market that aren't related to Bitcoin, as well as bringing in more users and investors.

In 2021, Coinbase generated over $100 million in revenue from subscriptions and services.

Source: Coinbase⁽¹⁾

• Around 4% of total company revenue is expected to be tied into subscriptions and services.
• This percentage may fluctuate depending on the changing volume and value of transactions on the platform.
• In the second quarter of 2021, Coinbase reported that they had over $100 million in their revenue from subscriptions and services.
• In a filing with the SEC in 2019, Coinbase indicated that they expected their subscription revenue to more than double over the next year.
• Subscription products are offered as a stable ongoing alternative to more volatile cryptocurrency, so they will support the platform if the price of crypto crashes.
• Coinbase Pro is a subscription that appeals to more serious traders because the fees are between 0% and 0.5% of every transaction.
• Coinbase Prime is a service offered that lets people have more robust management of their cryptocurrency holdings.

Coinbase profit

Source: Coinbase⁽¹⁾

Note: 2018 and 2019 values are estimated based on Coinbase statements and analyst projections.

Coinbase went public on April 14, 2021. This allowed people to publicly trade shares of the company on the stock market.

The shares brought in higher returns than projected in the second quarter of 2021.

Profitability in general has been touch-and-go for the platform, as they incurred losses in both 2018 and 2019.

The company has been very profitable, even though they aren't the largest global trading platform for cryptocurrency.

They dominate the cryptocurrency industry in the US, which is where the majority of their shareholders are based.

• Coinbase was approved for public trading in the US by the SEC and listed on the NASDAQ in April of 2021.
• In the second quarter of 2021, shares gained more than three dollars each, beating a projected gain of $2.33.
• This caused the company to gain 2.7% in value over the span of a single day.
• Coinbase is the largest cryptocurrency platform in the US, and its profits are largely tied to the value of the different crypto options.
• So far in 2021, the company has reported a profit of $2.36 billion, making it one of the most profitable platforms on the market right now.
• In 2018, the company lost $55 million, and they lost another $30 million in 2019.
• The $322 million gain in 2020 and multi-billion profits in 2021 more than recoup this loss, however, making the company very profitable.
• In 2017, the company made $380 million, largely due to Bitcoin more than doubling in value in December of that year.

Coinbase monthly active users

Source: Coinbase⁽¹⁾

In 2021, Coinbase has 8.8 million monthly active users on their platform - up more than 300% from 2020.

Monthly active users have grown every year since the platform was founded. From 2020 to 2021, the number of monthly active Coinbase users has more than tripled.

This can be attributed to a growing public focus on cryptocurrency, the public trading of company shares, and a strong marketing and outreach campaign.

A monthly active user is any user who makes at least one transaction a month.

This might include acquiring, selling, or exchanging their current cryptocurrency holdings.

• In 2018, there were about 700,000 monthly active users.
• That number grew to 1 million in 2019, representing the slowest growth of the platform.
• In 2020, the number of users almost tripled, increasing to 2.8 million.
• 2021 saw the number of users triple again, rising to almost 9 million.
• These numbers have cemented Coinbase as the largest and most active cryptocurrency exchange in the US.
• Many of Coinbase's active users do not use other cryptocurrency trading platforms, instead tracking and trading their assets solely with the Coinbase software.

Coinbase valuation

Sources: TechCrunch⁽²⁾, CNBC⁽³⁾

The valuation of the company is based on its public shares. When the company went public, the listed price of a share was $250.

There are a little over 260 million shares available for purchase on the market, which puts the total valuation in the billions.

This is a huge increase from the company's valuation back in 2017.

For investors who managed to get in on the ground level, the return on investment has been enormous.

Here are a few statistics that can illustrate this.

• The company went public at $250 per share, with a total company valuation of a whopping $65.3 billion.
• If the value is calculated using a simple share count instead of a fully diluted count, the valuation is still $49.2 billion.
• In 2017, the company was worth just $1.6 billion in total.
• After getting venture capital from private investors to expand their holdings, Coinbase's valuation increased to $8 billion in 2018.
• The value of the company was $28 billion in 2020, showing that they continued to exponentially grow for their private investors.
• Reports indicate that before the company went public, private investors were trading shares at a total valuation of $100 billion.

Overall, the numbers show that 2021 has been the company's most profitable and growth-focused year yet.

Public investors have already seen a return on their investment after the first quarter, and the valuation continues to increase with the increase in active users and trades.

Coinbase assets under management

Source: Coinbase⁽¹⁾

The assets on the Coinbase platform have increased every year since 2018. In 2021, those assets grew to about six times their original size.

The value of their assets changes on a daily basis as the price of cryptocurrency fluctuates. As more crypto flows onto the platform, the number of managed assets gets larger.

Some statistics that illustrate the assets include:

• In 2021, the company had $223 billion in total managed assets, significantly more than in any previous year.
• The number of managed assets was just $36 billion in 2020 - which was much less than the current market share.
• In 2019, the number of managed assets was $18 billion, indicating that that number doubled between 2019 and 2020.
• Growth was slower between 2018 and 2019, as 2018 started with $11 billion in managed assets.
• The company recently stated that they would buy another $500 million worth of crypto and begin using future profits to invest in more crypto.
• The goal is to own and trade a larger market share of cryptocurrency over the next several years.

Coinbase supports 108 cryptocurrency assets as of December 2021.

Here’s a breakdown showing the number of crypto assets supported by Coinbase since 2019:

Source: Coinbase⁽¹⁾

The Coinbase platform has added support for an additional 68 crypto assets since December 2019.

• There are over 100 cryptocurrencies available for trade, making the platform good for both beginners and seasoned experts.
• You can invest in well-known currencies like Bitcoin, Ethereum, Dogecoin, Litecoin, Bitcoin Cash, and Cardano.
• The Wallet can support networks including Bitcoin, Ethereum, Dogecoin, Litecoin, Polygon, Ripple, and Stellar Lumens, which allows you to use your niche cryptocurrency to pay for goods online.
• All types of ERC-20 token are also supported with the Wallet; you can see whether your crypto of choice is one of these by looking at the Coinbase mobile app.
• Crypto to crypto conversions are only available through Ethereum and any Ethereum-based currencies, so other coins must be converted with regular currency.

The most held currencies on the Coinbase platform are Bitcoin and Ethereum.

Bitcoin and Ethereum represent 83% of all assets on the Coinbase platform.

The most held currencies on the platform tend to be the most popular global currencies in general.

Other supported crypto assets on Coinbase account for a 13% share.

Here’s a full breakdown of assets held on Coinbase:

Source: Coinbase⁽¹⁾

While some markets might see greater or lesser performance of niche cryptocurrencies, the top players remain the same.

Bitcoin continues to dominate the industry, while holdings like Ethereum struggle to catch up.

Here's what you should know about the most held currencies of Coinbase users.

• Bitcoin is the most held currency by investors, though due to how expensive a single coin is, most investors only have a small portion of a single coin.
• Since Bitcoin will stop being mined once 21 million coins are in circulation, investors are holding onto it in anticipation of a change in supply and demand.
• Ethereum is the second most held cryptocurrency, and it's also the go-to option for people who want to make purchases with their holdings instead of hang onto their investments.
• Litecoin is the third most held currency, with an $81 million maximum on the mining process.
• People are largely attracted to Litecoin because the transaction fees for it are lower than with Bitcoin, and it also has higher transaction power than Bitcoin.
• Ripple is the fourth most held currency, functioning as a way to make real time exchanges across borders.
• Because Ripple lowers the exchange rates for currency and lets you make exchanges in real time, it has more practical real world application than a lot of competing virtual currencies.
• Zcash is the next most held currency, a knockoff of Bitcoin that has more anonymous transactions due to lacking a public ledger.

There are benefits and drawbacks to all of the most popular coin options on the Coinbase platform. Each of them is unique in its structure, network, use, and transaction power.

In 2020, Bitcoin trades made up 41% of the total Coinbase trading volume, making Bitcoin the most traded currency on Coinbase.

That year, Ethereum was the second most traded currency on Coinbase - making up 15% of the total trading volume.

Here is a chart of the most traded currencies on Coinbase:

Source: Coinbase⁽¹⁾

Here is a list of the most traded currencies on Coinbase.

• Bitcoin is the most traded currency on the platform, largely because Bitcoin makes up more than half of the total market share of cryptocurrency.
• Many investors who use the Coinbase platform intend to trade exclusively using Bitcoin, and they never investigate other offerings.
• NuCypher is the next most traded currency, an Ethereum-based network that is built to uphold the decentralized finance systems of Ethereum.
• Since NuCypher trades for under $2 per unit, it's much easier for investors to get a hold of full units instead of holding just a piece like with Bitcoin.
• Ethereum is the third most traded, and the second most popular cryptocurrency overall thanks to its easy buying power.
• Shiba Inu has the fourth most trade volume, with each token being worth just a tiny fraction of a cent.
• All together, the millions of Shiba Inu tokens make up more than $1.5 million in asset holdings.
• Polygon is the next most traded in 2021, as this asset has been seeing an increase in value and chatter in the crypto industry.

While the trade volumes of different cryptos will shift from day to day, Bitcoin can be reliably expected to come out on top.

This cryptocurrency dominates the market, and its performance has a strong impact on the performance of even non-Bitcoin network virtual currencies.

The average Coinbase deposit size was $529 in February 2021 - down from a peak of $560 in January 2021.

Source: Earnest Research⁽⁴⁾

11.3% of the entire crypto market capitalization is held on the Coinbase platform.

While Coinbase is not the top global leader in terms of crypto market share, it is by far the top platform in the US.

A huge amount of global traffic goes through the trade platform.

At the same time, there's lots of room for the company to grow, as they expand into overseas markets.

Right now, the platform holds a respectable market share that numbers in the billions.

Here’s a full breakdown showing the Coinbase share of crypto market capitalization since 2018:

Source: Coinbase⁽¹⁾.

*Note: Based on incomplete yearly data.

It is one of several staunch competitors in the crypto industry.

But because it holds just a fraction of the current crypto market, it has the potential to expand to multiple times its current size.

Here are the most important Coinbase market share statistics:

• The company holds about 11% of the total market share of cryptocurrency, which is spread among more than 50 different popular assets.
• The bulk of the platform's market share comes from Bitcoin and Ethereum, but there are plans to invest more heavily in smaller currencies.
• The market share on the platform is different for different currencies, with the company owning most or all of the shares of certain niche options.
• Executives at the company have stated that they intend to invest hundreds of millions of dollars into acquiring more cryptocurrency, increasing their market share.
• As time goes on, they also plan for more and more of the company's operations to be funded using crypto investments instead of normal currency.
• Since the company is traded publicly, they can use the money of their investors to acquire more digital currency and corner the market.
• The platform is at a point of having enormous holdings while also aiming to project enormous growth over time.

Even though 11% might not seem like much, that's billions of dollars in acquisitions. And it means that 89% of the market is ripe for the taking.

Here is the year-by-year total transaction volume:

Source: Coinbase⁽¹⁾

In Q4 2020, the institutional trading volume on Coinbase was $57 billion.

This trading volume represents a 64.05% share of total trades.

Here is the institutional trading volume on Coinbase since the beginning of 2018:

Source: Coinbase⁽¹⁾

Institutional trading is cryptocurrency trading that occurs on behalf of an institution or group.

Rather than being part of an individual investment portfolio, these trading accounts might be run by insurance companies, pension funds, exchange traded funds, or mutual fund families.

On Coinbase, institutional trade volume has undergone a massive amount of growth.

In fact, the volume was more than 5 times as high at the end of 2020 as in 2018. These are the numbers broken down:

• In 2018, institutional trade volume on the platform was about $11 billion.
• By the final quarter of 2020, that had increased more than 5 times to a whopping $57 billion.
• Institutional trading has continued to increase during the explosive growth of the platform in 2021.
• Some of the growth may be attributed to cryptocurrency becoming a normalized, lucrative investment for people who may have been hesitant before.
• Institutional trading made up the majority of trade value in the last quarter of 2020, accounting for $57 billion out of $89 billion total.
• The trade volumes are much higher in 2020 and 2021 than in 2018, even though the number of monthly users in 2020 was similar to that of 2018.
• This may indicate that the volume and value of trades as increased as the price of different cryptocurrency options goes up.

In the final 3 months of 2020, Coinbase processed $32 billion worth of trades from retail customers.

That accounts for a 35.95% share of the total trading volume on the Coinbase platform - the remaining trading volume comes from institutional customers.

Here’s a full overview of Coinbase retail trading volume since Q1 2018:

Source: Coinbase⁽¹⁾

Retail trading is done by individual investors. They make purchases of cryptocurrency for their personal investment portfolios, rather than having the assets managed by a group fund.

In 2020, retail trading struggled to reach the same highs that the platform hit in 2018.

The growth did not reflect the same exponential increase as with institutional trade.

But as of 2021, retail trading has seen a significant increase following the public offering of company shares.

Here are the most important retail trading volume statistics.

• In the final quarter of 2020, retail trading made up about $32 billion of the $89 billion total volume.
• In the first quarter of 2021, the Coinbase platform saw $120 billion in retail trading volume.
• That's an increase of about 4 times in a single quarter, and it happened prior to the company going public.
• The increase in volume may be attributed to an increase in the interest of personal investors, plus an overall increase in the acquisition and value of cryptocurrency.
• The total trading volume in the first quarter of 2021 was $335 billion.
• Retail trading made up about a third of the total volume in both 2020 and 2021.
• Though the retail trading volume of 2020 didn't reach the record peak set in 2018, the first quarter of 2021 far surpassed that record.
• Retail and institutional trade volume for 2021 both show exponential growth for the Coinbase consumer network.

In 2021, Coinbase has over 8,000 institutional customers, including financial institutions, corporations and hedge funds.

In 2020, Coinbase had 7,000 institutional customers who held $44.8 billion worth of assets on the platform.

Source: U.S. Securities and Exchange Commission⁽⁵⁾

The number of institutional customers on the platform has risen significantly as more and more mainstream investment professionals secure Bitcoin.

In fact, Coinbase added 2,800 new institutional customers from 2019 to 2020. The total value of assets held on the platform by institutional customers increased 6.89x in this time.

While Coinbase is largely private about the exact identities of these accounts, they have released some information.

This is what we know about the institutional customers using the platform.

• In the first quarter of 2021, the holdings of institutional accounts increased 170%.
• There are more than 8,000 institutional clients on the exchange in 2021.
• Institutional customers make up about two-thirds of total trade volume of cryptocurrency in any given quarter.
• Institutional customers held $122 billion in assets in the first quarter of 2021, compared to $45 billion in the last quarter of 2020.
• Coinbase offers special services and software for institutional crypto holders, including offline storage that can't be hacked from the outside.
• Because of the volatility of Bitcoin, some institutional holders have been more wary of the investment in the latter half of 2021.
• Coinbase is working on creating an institution-specific brokerage service that allows for safer trading, holding, and storage of currencies.
• This brokerage would also have data analytics to help investors determine which crypto trends to follow.
• A beta version of the software was first launched in May of 2020.

Coinbase has more than 2,100 employees who are tasked with keeping the platform running smoothly.

The company has a 4.3 overall rating on Glassdoor, indicating that it is a highly preferred place for people to work.

• There are more than 2,100 total employees in the company.
• There are over 20 different job categories listed on the Coinbase website, with information about openings for each.
• Marketing, product development, legal, HR, recruiting, finance, engineering, design, and customer experience all have the largest number of openings.
• The company is rated 4.3 out of 5 stars on Glassdoor with more than 200 employee reviews of the workplace.

What is the Coinbase 24-hour peak trading volume?

The top trading volume that the company ever reached happened on January 11, 2021.

At that time, they traded more than $9.5 billion dollars.

This shattered the previous record, creating a peak that was about 58% higher than before.

How many merchants will accept Coinbase Bitcoin payments?

Coinbase is accepted by more than 8,000 businesses throughout the world.

There are over 15,000 businesses that accept Bitcoin alone.

In addition, you can get a Visa debit card that allows you to access your Coinbase holdings if you live in the US or Europe.

How many countries can you find Coinbase in?

You can use Coinbase in more than 100 countries throughout the globe.

The locations span six continents including Oceania, Africa, North America, South America, Asia, and Europe.

The Coinbase website allows you to sort offerings by continent, so you can see which countries near you offer it.

How much cryptocurrency does the average Coinbase user own?

There are $223 billion in total managed assets for Coinbase in 2021. About 43 million people use the service, with active exchanges happening in the millions on a monthly basis.

When you put those numbers together, you get an average of a little over $5,000 per Coinbase user.

But it's important to keep in mind that the wealth is more spread out than that. There are some users who have assets numbering in the millions or billions.

And many users only have a few dollars' worth of cryptocurrency to their names. There are more Coinbase users with less than $5,000 in Coinbase than with more than that.

What is the average age of typical Coinbase users?

Coinbase doesn't publish data about the average ages or locations of their users. Privacy is a big concern among those in the cryptocurrency community.

Aside from information they are legally obligated to disclose to entities like the IRS, the company works to maintain privacy.

Analysis shows that the average cryptocurrency investor is about 38 years old, with many skewing younger than that. The average stock investor is around 47, indicating that cryptocurrency is preferred by a younger crowd.