Coinbase has been among the leading cryptocurrency exchanges across the globe since 2012. This platform registered its first million users within the first couple of years.
Coinbase has been a massive hit since the start of the pandemic, and it is showing no signs of slowing down. Currently, Coinbase has over 73 million registered users with a trading volume of over USD 335 billion quarterly.
It has only slowed down for a couple of years in terms of its revenue generation recently, but it has bounced back pretty strong ever since.
All things considered, Coinbase is a massive cryptocurrency exchange. In this guide, we will explore some Coinbase statistics associated with it, so keep reading.
Key Coinbase Statistics
- Coinbase has more than 73 million registered and verified users.
- Over 6 million users of this crypto make at least a transaction monthly.
- Coinbase generated more than USD 1.25 billion in revenue in 2020. It made around USD 1.8 billion in the first three months of 2021.
- Coinbase trading volume in the first quarter of 2021 was USD 335 billion.
- Over 11 percent of the total crypto market capital is on the Coinbase platform.
- Coinbase generated more than USD 2.36 billion in profit in 2021.
- Average Coinbase users own just over USD 5000 of cryptocurrency.
- There are more than 8.8 million monthly active users on Coinbase.
Coinbase User Statistics
Coinbase considers all its verified users as institutional and retail users who have registered accounts. This account must have an associated phone number or an email address for confirmation.
How Many Users Does Coinbase Have?
The exchange has over 73 million registered users with a confirmed phone number or email address. This platform has gained over 13 million users in the past three months.
The overall user base of this platform has increased by over 64 percent since March of 2020.
In March 2013, Coinbase had more than 60 thousand verified users according to statistics. This number grew to over 1 million in the next year. In the next four years (2018), this number grew to over 23 million, and in March 2019, it grew to 27 million.
March 2020 saw it balloon to 34 million, and this year (2021), it has reached 73 million. These numbers show the staggering growth that this crypto has displayed in recent years.
Coinbase Users with Monthly Transactions
The platform defines monthly transacting users as institutional and retail users who do at least a transaction within 28 days. So, Coinbase will have over 6 million such users in the first quarter of 2021. It equates to 10.89 percent of the overall user base.
This number has grown approximately 2.18 times in the past quarter only according to statistics. In the first quarter of 2018, the monthly transacting Coinbase users were 2.7 million.
Next year, in the first quarter the number declined a bit to 800,000. However, in the first quarter of 2020, this number was 1.3 million, and this year (2021), it skyrocketed to 6.1 million.
Coinbase Institutional Clients
The platform has more than 7000 institutional clients. These include hedge funds, corporations, and financial institutions. In these categories, some institutional customers hold assets more than USD 44.8 billion worth on this platform.
The platform has added over 2800 new clients in the past year. The overall value of these assets held by institutions on Coinbase grew by 6.89 times during this period according to statistics.
In 2019 the platform had 4200 institutional clients that held USD 6.5 billion worth of assets. These numbers grew to 7000 institutional clients that held USD 44.8 billion worth of assets in 2020.
Assets on Coinbase Platform
In March 2021, Coinbase clients had USD 223 billion assets on this platform. It is an increase of over 13.12 times over the past year.
In the first quarter of 2018, Coinbase had over USD 13 billion worth of assets according to statistics. The number slumped a bit to USD 8 billion in the first quarter next year (2019). But in the first quarter of 2020, his number reached USD 17 billion and swelled to USD 223 billion in 2021.
Most Held Currencies on Coinbase
Ethereum and Bitcoin are the most held cryptocurrencies on this platform, with over 80 percent of all the assets on Coinbase. All other supported cryptocurrencies account for the remaining 13 percent share.
Bitcoin takes up 70 percent of the share on this platform, and Ethereum takes up about 13 percent of the total share of owned crypto assets on this platform. All other currencies have a share of 13 percent, while Fiat has a 4 percent share on Coinbase.
The total value of cryptocurrency assets on this platform accounts for over 11 percent of the entire crypto capital market. The platform has increased its share in the market by 4.5 percent, and it has been doing it since 2018.
In 2018 its market share was 4.5 percent, and it grew to 8.3 percent in the following year. The year 2020 saw the share rise to 11.1 percent, and it is currently around 11.3 percent based on the incomplete annual data of 2021.
Coinbase Trading Volume Retail
The platform processed over USD 32 billion worth of trade from retail customers in the end months of 2020. This value accounts for almost 36 percent share of the overall trade volume on this platform. The institutional clients and investors carried out the remaining activity.
This retail trading grew almost 78 percent in the third quarter of 2020 according to statistics. But it remains below the all-time high it reached in the first quarter of 2018, which was USD 45 billion.
Coinbase retail trade volume in 2020 turned out to be 2.15 times more than the previous year. In the first quarter of 2018, the total retail trade volume was USD 45 billion, with 80.36 percent of all trading volume.
Next year at the same period, it was USD 4 billion with 57.14 percent of all trading volume. Then, in the following year, it again started climbing with USD 12 billion retail trading volume and 40 percent of all trading.
Coinbase Institutional Trading Volume
The institutional investors and traders on this platform are taking care of the overall trade volume of USD 57 billion in the fourth quarter of 2020. It represents over 64 percent of the total trade.
The institutional clients accounted for almost 20 percent of the total trade volume in the first quarter of 2018. In that period this figure has increased by around 3.26 times.
In the first quarter of 2018, the institutional trade volume was USD 11 billion, 19.67 percent. In the first quarter of 2019, it grew to USD 3 billion, 42.86 percent of total trade volume.
Next year the institutional trade volume was over USD 18 billion at the same stage, which was more than 60 percent of the total trade volume.
Most Traded Currencies on Coinbase
Bitcoin trades more than 41 percent of the overall Coinbase trade volume in 2020 according to statistics. But this percentage shows a slump from 58 percent of the total trade volume on the platform the previous year. It is because clients started investing in other cryptocurrencies as well.
Ethereum trading volume remained largely untouched. And within a year, other cryptocurrencies’ trade volume surged from 18 percent in 2018 to 44 percent in 2019. Cryptos other than Bitcoin, Ethereum, and Bitcoin accounted for only 18 percent of the trading in 2019.
Average Coinbase Deposit Size & Supported Crypto Assets
The average Coinbase deposit size is around USD 529 in February of 2021. It is slightly down from the peak of USD 560 in January 2021.
Moreover, the platform supports over 108 crypto assets at the moment. It has added support for 68 more crypto assets since December of 2019. The number is significantly increasing as the platform looks forward to adding more crypto assets.
Coinbase Total Revenue
Coinbase generated more than USD 1.25 billion in revenue in 2020. It is an almost 140 percent increase from the previous year’s revenue.
In the beginning three months of 2021, the platform has already generated more than USD 1.8 billion according to statistics. It has surpassed the annual total of the previous year.
In the Year 2017, Coinbase’s total revenue was USD 1 billion. However, it slumped to USD 520 million in the next year. In 2019 it increased slightly to USD 533.73 million and shot up to USD 1.28 billion in 2020.
Coinbase Transaction Revenue
Almost 86 percent of the total revenue of this platform comes from transaction fees. The platform has generated over USD 1 billion in transaction revenue only in the past year (2020).
It is almost a 2.4 percent increase from the previous year. The transaction revenue back in 2019 was USD 463 million, and it reached USD 1.1 billion in 2020.
Coinbase Subscription & Service Revenue
Coinbase revenue from subscription and service consists of 4 elements. These are staking revenue, custodial fee revenue, interest income, and earn campaign revenue.
This platform brings in almost USD 45 million in subscriptions and service revenue. It is almost a 2.3 percent increase since the year 2019. In the year 2019, the revenue generated from subscriptions and services was USD 19.94 million. This number grew to almost USD 45 million in 2020.
Coinbase Employees and Locations
Coinbase has more than 1700 employees, and since January, it has added more than 450 new employees. 4with0 percent of the workforce functions in engineering, product, and design teams.
Coinbase is a remote-first company with physical offices in 12 different US, Germany, Japan, the UK, Ireland, and the Philippines.
Coinbase Monthly Active Users
The monthly active users on this platform were 0.7 million back in 2018. In 2019, the number increased to 1 million and reached 2.8 million in 2020. In 2021 the platform had almost 8 million monthly active users, which goes to show the popularity of Coinbase.
The number has grown almost 300 percent from 2020 to 2021. Many Coinbase active users do not use any other crypto platform. They only use this platform form for trading and tracking their assets.
In 2017, the Coinbase valuation was USD 1.6 billion, and it increased to USD 8 billion in the next year. In 2020, it reached USD 28 billion, and this year (2021), it stood at USD 65 billion.
The valuation of this company is based on its total public shares. When Coinbase went public, its price of listed shares was USD 250. There are more than 260 million shares available to purchase. Therefore, the total valuation is in billions. It is a massive jump from the company’s previous valuation from the year 2017.
The investors who worked hard at the ground level were able to earn significantly. The company went public with USD 250 price per share, and the total valuation turned out to be USD 65 billion.
According to a report, before Coinbase went public, private investors traded shares with a total valuation of USD 100 billion. Therefore, it can be said that the year 2021 has been a massive success for this company.
In 2017, the company earned USD 380 million in profit and showed what it is capable of. But in the next couple of years, the profits slumped.
It was the year 2020 when the company started showing what it can do, and it is not looking to stop anytime soon. In 2020, the company’s profit was more than USD 322 million. Moreover, in the first half of 2021, the profits skyrocketed to USD 2.36 billion.
In April 2021, the company went public and allowed people to trade shares on the stock market. These shares bought in higher returns than the estimated numbers in the second quarter of 2021.
The company is not the largest global crypto trading platform, but it has been highly profitable. It dominates the US crypto industry, and a majority of shareholders are from the US.
Coinbase commerce usage based on websites has increased throughout the globe. Over 550 websites from the US allow Coinbase for commercial use.
Germany is in the second spot with 50 websites and then comes the UK with 44. So, the company is getting most of its website trade within the US.
Some of the top websites that use Coinbase include:
Coinbase vs. The Competition
Coinbase is a powerhouse in competition, and there is no other that comes even close to this crypto trading platform in terms of revenue. The company is currently top-ranked with USD 2.36 billion in revenue.
Binance is behind USD 1.8 billion, and then there is a huge gap between the market players. On the third spot is eToro with USD 446 million revenue, and then the rest of the players close by, including FTX, Robinhood, Cash App, Kraken, and others.
Coinbase has significantly grown in recent years. In the year 2020 and the first half of 2021 alone, statistics show that it has generated massive revenue, and it is showing absolutely no signs of slowing down.
Its number of monthly active users has increased significantly. Moreover, its number of subscriptions has been steadily growing in recent years. Thanks to its massive share price, the company has been highly profitable since its shares have been publicly traded on the stock market.
Since the COVID pandemic, cryptocurrencies have been surging like none other. As a result, the companies that are dealing in these currencies are also seeing growth.
Coinbase is one of the leading cryptocurrency exchange platforms, and it has added more than 104 crypto assets in its offerings.