Coinbase is a leading cryptocurrency exchange.
Launched in 2012, the platform registered its first million users in less than 2 years.
Today, Coinbase has 56 million registered users and processes a trading volume of $335 billion per quarter.
Continue reading to find the latest statistics on Coinbase in 2023.
Here’s a quick overview of what you’ll find on this page:
- Key Coinbase Stats
- How many users does Coinbase have?
- Coinbase monthly transacting users
- Coinbase institutional customers
- Assets on the Coinbase platform
- What are the most held currencies on Coinbase?
- Coinbase share of crypto market capitalization
- Coinbase retail trading volume
- Coinbase institutional trading volume
- What are the most traded currencies on Coinbase?
- What’s the average Coinbase deposit size?
- How many cryptocurrency assets are supported on Coinbase?
- Coinbase total revenue
- Coinbase transaction revenue
- Coinbase subscription and service revenue
- How many people work at Coinbase?
Key Coinbase Stats
- Coinbase has 56 million verified users.
- 6.1 million Coinbase users make at least one transaction per month.
- Coinbase generated $1.28 billion in revenue in 2020. And has already made $1.8 billion in the first 3 months of 2021 alone.
- Trading volume on Coinbase in Q1 2021 was $335 billion.
- 11.3% of the entire crypto market capitalization is held on the Coinbase platform.
How many users does Coinbase have?
Coinbase defines verified users as all retail and institutional users with a registered account and a confirmed email address or phone number.
Coinbase has 56 million verified users. The platform has added 13 million new users over the past 3 months alone.
And Coinbase’s user base has increased by 64.7% since March 2020.
Here’s the full breakdown of Coinbase’s user growth since January 2013:
|Quarter, year||Verified users|
|January 2013||30 thousand|
|March 2013||61 thousand|
|September 2013||277 thousand|
|December 2013||521 thousand|
|March 2014||1.07 million|
|October 2014||1.7 million|
|January 2015||1.9 million|
|July 2015||2.3 million|
|December 2015||2.9 million|
|May 2016||3.7 million|
|October 2016||4.7 million|
|January 2017||5.5 million|
|September 2017||10.7 million|
|November 2017||13.3 million|
|March 2018||23 million|
|June 2018||24 million|
|September 2018||25 million|
|December 2018||26 million|
|March 2019||27 million|
|June 2019||29 million|
|September 2019||31 million|
|December 2019||32 million|
|March 2020||34 million|
|June 2020||37 million|
|September 2020||39 million|
|December 2020||43 million|
|March 2021||56 million|
Coinbase monthly transacting users
Coinbase defines monthly transacting users as retail users who make at least one transaction during a given 28-day period.
Coinbase had 6.1 million monthly transacting users in Q1 2021, which equals 10.89% of the total user base.
The number of active transacting users has grown 2.18x over the past quarter.
We’ve charted Coinbase monthly transacting users since Q1 2018:
|Quarter, year||Monthly transacting users|
|Q1 2018||2.7 million|
|Q2 2018||1.2 million|
|Q3 2018||900 thousand|
|Q4 2018||900 thousand|
|Q1 2019||800 thousand|
|Q2 2019||1.3 million|
|Q3 2019||1.2 million|
|Q4 2019||1 million|
|Q1 2020||1.3 million|
|Q2 2020||1.5 million|
|Q3 2020||2.1 million|
|Q4 2020||2.8 million|
|Q1 2021||6.1 million|
Coinbase institutional customers
Coinbase has 7,000 institutional customers, including hedge funds, financial institutions and corporations. Between them, these institutional customers hold $44.8 billion worth of assets on the platform.
Coinbase added 2,800 new institutional customers over the past year. The total value of institutionally-held assets on the platform increased 6.89x in this time.
|2019||4,200 ($6.5 billion)|
|2020||7,000 ($44.8 billion)|
Assets on the Coinbase platform
As of March 2021, Coinbase customers held $223 billion worth of assets on the platform. That’s a 13.12x increase over the past year.
Here’s a comprehensive overview of the value of assets on the Coinbase platform since Q1 2018:
|Quarter, year||Assets on platform|
|Q1 2018||$13 billion|
|Q2 2018||$13 billion|
|Q3 2018||$11 billion|
|Q4 2018||$7 billion|
|Q1 2019||$8 billion|
|Q2 2019||$21 billion|
|Q3 2019||$18 billion|
|Q4 2019||$17 billion|
|Q1 2020||$17 billion|
|Q2 2020||$26 billion|
|Q3 2020||$36 billion|
|Q4 2020||$90 billion|
|Q1 2021||$223 billion|
What are the most held currencies on Coinbase?
Bitcoin and Ethereum represent 83% of all assets on the Coinbase platform.
Other supported crypto assets account for a 13% share.
Here’s a complete breakdown of assets held on Coinbase:
|Other crypto assets||13%|
Coinbase share of crypto market capitalization
The total value of crypto assets on Coinbase accounts for 11.3% of the entire crypto market capitalization.
Coinbase has increased its share of the crypto market consistently since 2018, up from 4.5%.
Here’s a table showing the Coinbase share of crypto market capitalization since 2018:
Coinbase retail trading volume
Coinbase processed $32 billion worth of trades from retail customers in the final 3 months of 2020. That accounts for a 35.95% share of the total trading volume on the platform, with the remaining activity coming from institutional investors.
Retail trading volume grew 77.7% compared to Q3 2020. But remains below the all-time high of $45 billion achieved in Q1 2018.
Coinbase retail trading volume in 2020 was 2.15x higher than in 2019.
Here’s a complete overview of Coinbase retail trading volume since Q1 2018:
|Quarter, year||Retail trading volume (% of all trading volume)|
|Q1 2018||$45 billion (80.36%)|
|Q2 2018||$14 billion (66.66%)|
|Q3 2018||$7 billion (58.33%)|
|Q4 2018||$6 billion (54.54%)|
|Q1 2019||$4 billion (57.14%)|
|Q2 2019||$14 billion (45.16%)|
|Q3 2019||$11 billion (40.74%)|
|Q4 2019||$5 billion (35.71%)|
|Q1 2020||$12 billion (40%)|
|Q2 2020||$11 billion (39.28%)|
|Q3 2020||$18 billion (40%)|
|Q4 2020||$32 billion (35.95%)|
Coinbase institutional trading volume
Institutional traders on Coinbase accounted for a trading volume of $57 billion in Q4 2020, which represents a 64.05% share of total trades.
Institutional customers accounted for just 19.67% of total trade volume in Q1 2018. Since then, the figure has increased 3.26x.
We’ve charted institutional trading volume on Coinbase since the beginning of 2018:
|Quarter, year||Institutional trading volume|
|Q1 2018||$11 billion (19.67%)|
|Q2 2018||$7 billion (33.4%)|
|Q3 2018||$5 billion (41.67%)|
|Q4 2018||$5 billion (45.46%)|
|Q1 2019||$3 billion (42.86%)|
|Q2 2019||$17 billion (54.84%)|
|Q3 2019||$16 billion (59.26%)|
|Q4 2019||$9 billion (64.29%)|
|Q1 2020||$18 billion (60%)|
|Q2 2020||$17 billion (60.72%)|
|Q3 2020||$27 billion (60%)|
|Q4 2020||$57 billion (64.05%)|
What are the most traded currencies on Coinbase?
Bitcoin trades made up 41% of the total Coinbase trading volume in 2020. That’s down from 58% in 2019.
Ethereum trade volume stayed largely consistent. But “other cryptocurrencies” surged, accounting for 44% of Coinbase trading volume last year — more than Bitcoin. Cryptocurrencies other than Bitcoin, Ethereum and Litecoin made up just 18% of trading volume in 2019.
Here’s a comparison of Coinbase trade volume by asset in 2019 and 2020:
|Asset||Share (2020)||Share (2019)|
|Other crypto assets||44%||18%|
What’s the average Coinbase deposit size?
The average Coinbase deposit size stood at $529 in February 2021. That’s slightly down from a peak of $560 a month earlier.
Source: Earnest Research.
How many cryptocurrency assets are supported on Coinbase?
Coinbase supports 108 crypto assets. The platform has added support for an additional 68 crypto assets since December 2019.
Here’s a table showing the number of crypto assets supported by the Coinbase platform since 2019:
Coinbase total revenue
Coinbase generated $1.28 billion in revenue in 2020. That’s a 139.82% increase over the previous year.
And in the first 3 months of 2021, Coinbase has already generated $1.8 billion, surpassing last year’s annual total.
Here’s a table with Coinbase revenue since 2017:
Coinbase transaction revenue
Transaction fees represent the vast majority (85.94%) of Coinbase revenue.
Coinbase generated $1.1 billion in transaction revenue in 2020. That’s a 2.37x increase over the previous year.
Here’s a table with Coinbase transaction revenue since 2019:
Coinbase subscription and service revenue
Coinbase revenue from subscriptions and services consists of 4 elements: custodial fee revenue, staking revenue, earn campaign revenue, and interest income.
Coinbase brings in $44.99 million in subscription and service revenue. That’s a 2.26x increase since 2019.
We’ve charted Coinbase subscription and service revenue since 2019:
|Year||Subscription and services revenue|
How many people work at Coinbase?
More than 1,700 employees work at Coinbase. Since January 2021 alone, the company has added 451 new employees.
40% of the employees work in engineering, product, or design teams.
While Coinbase is a remote-first company, the organization operates office facilities across 12 locations in the US, UK, Japan, Ireland, Germany, and the Philippines.
That’s it for my list of Coinbase stats in 2023.
Coinbase is riding the crypto wave, attracting ever-increasing trading activity and user numbers. But as crypto goes more mainstream, more competitors emerge.
Now I want to hear from you:
Do you think Coinbase can sustain its rapid growth? How will the IPO affect things?
I’d also like to know if you think I’ve missed something. Or if you have any questions at all regarding the stats I’ve included.
Leave a comment below, and I’ll get back to you.