Coinbase Usage and Trading Statistics (2024)
Find Keyword Ideas in Seconds

Boost SEO results with powerful keyword research

Free Keyword Research Tool

Coinbase Usage and Trading Statistics

Backlinko Team

Written by Backlinko Team

Coinbase Usage and Trading Statistics

Coinbase is a leading cryptocurrency exchange.

Launched in 2012, the platform registered its first million users in less than 2 years.

Today, Coinbase has 8 million monthly transacting users and processes a trading volume of $312 billion per quarter.

Continue reading to find the latest statistics on Coinbase in 2024.

Here’s a quick overview of what you’ll find on this page:

Key Coinbase Stats

  • Coinbase has 8 million monthly transacting users.
  • Coinbase generated $3.11 billion in 2023. And has already made $1.64 billion in the first 3 months of 2024 alone.
  • Trading volume on Coinbase in Q1 2024 was $312 billion.
  • 3,416 employees work at Coinbase.

Coinbase Monthly Transacting Users

Coinbase defines monthly transacting users as all users with at least one transaction on the platform during the 28-day period.

As of Q1 2024, Coinbase has 8 million monthly transacting users. That’s down from 8.4 million transacting users in Q1 2023.

Coinbase Monthly Transacting Users

Here’s the full breakdown of Coinbase monthly transacting users since Q1 2018:

Date Coinbase Monthly Transacting Users
Q1 2018 2.7 million
Q2 2018 1.2 million
Q3 2018 0.9 million
Q4 2018 0.9 million
Q1 2019 0.8 million
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
Q2 2021 8.8 million
Q3 2021 7.4 million
Q4 2021 11.4 million
Q1 2022 9.2 million
Q2 2022 9 million
Q3 2022 8.5 million
Q4 2022 8.3 million
Q1 2023 8.4 million
Q2 2023 7.3 million
Q3 2023 6.7 million
Q4 2023 7 million
Q1 2024 8 million

Source: Coinbase

How Many Users Does Coinbase Have?

Until Q4 2022, Coinbase disclosed the number of verified users (all users with a registered account and a confirmed email address or phone number).

Coinbase had 110 million verified users in Q4 2022. The platform added 21 million new verified users between Q4 2021 and Q4 2022.

Coinbase Verified Users

Here’s the full breakdown of Coinbase user growth since Q1 2018:

Date Coinbase Verified Users
Q1 2018 23 million
Q2 2018 24 million
Q3 2018 25 million
Q4 2018 26 million
Q1 2019 27 million
Q2 2019 29 million
Q3 2019 31 million
Q4 2019 32 million
Q1 2020 34 million
Q2 2020 37 million
Q3 2020 39 million
Q4 2020 43 million
Q1 2021 54 million
Q2 2021 68 million
Q3 2021 73 million
Q4 2021 89 million
Q1 2022 98 million
Q2 2022 103 million
Q3 2022 108 million
Q4 2022 110 million

Source: Coinbase

Coinbase One Subscribers

Coinbase offers a paid subscription (Coinbase One) for $29.99 per month which includes zero trading fees under a certain limit, priority support, and other exclusive benefits.

As of Q1 2024, Coinbase has over 400,000 paid subscribers, which accounts for 5% of the monthly transacting user base.

As of Q1 2024, Coinbase has over 400,000 paid subscribers

Source: Coinbase

Assets on the Coinbase Platform

As of March 2024, Coinbase customers held $334.71 billion worth of assets on the platform. That’s a 2.58x increase over the past year.

Assets on the Coinbase Platform

Here’s a comprehensive overview of the value of assets on the Coinbase platform since Q1 2018:

Date Assets on the Coinbase 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
Q2 2021 $180 billion
Q3 2021 $255 billion
Q4 2021 $278 billion
Q1 2022 $256 billion
Q2 2022 $95.64 billion
Q3 2022 $101.7 billion
Q4 2022 $80.45 billion
Q1 2023 $129.73 billion
Q2 2023 $128.09 billion
Q3 2023 $117.78 billion
Q4 2023 $197.15 billion
Q1 2024 $334.71 billion

Source: Coinbase

What Are the Most Held Currencies on Coinbase?

Bitcoin and Ethereum represent 67% of all crypto assets on the Coinbase platform.

Bitcoin and Ethereum represent 67% of all crypto assets on the Coinbase platform

Other supported crypto assets account for a 33% share.

Here’s a complete breakdown of crypto assets held on Coinbase:

Asset Share of Total
Bitcoin 48%
Ethereum 19%
Solana 7%
Other crypto assets 26%

Source: Coinbase

Coinbase Retail Trading Volume

Coinbase processed $56 billion worth of trades from retail customers in Q1 2024. That accounts for a 17.95% share of the total trading volume on the platform, with the remaining activity coming from institutional investors.

Coinbase Retail Trading Volume

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

Date Coinbase Retail Trading Volume (Share of Total 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%)
Q1 2021 $120 billion (35.82%)
Q2 2021 $145 billion (31.39%)
Q3 2021 $93 billion (28.44%)
Q4 2021 $177 billion (32.3%)
Q1 2022 $74 billion (23.95%)
Q2 2022 $46 billion (21.2%)
Q3 2022 $26 billion (16.35%)
Q4 2022 $20 billion (13.79%)
Q1 2023 $21 billion (14.48%)
Q2 2023 $14 billion (15.22%)
Q3 2023 $11 billion (14.47%)
Q4 2023 $29 billion (18.83%)
Q1 2024 $56 billion (17.95%)

Source: Coinbase

Coinbase Institutional Trading Volume

Institutional customers on Coinbase accounted for a trading volume of $256 billion in Q1 2024, which represents an 82.05% share of total trades.

Coinbase Institutional Trading Volume

Institutional customers accounted for just 19.67% of total trading volume in Q1 2018. Since then, the figure has increased by 4.17x.

We’ve charted institutional trading volume on Coinbase since the beginning of 2018:

Date Coinbase Institutional Trading Volume (Share of Total 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%)
Q1 2021 $215 billion (64.18%)
Q2 2021 $317 billion (68.61%)
Q3 2021 $234 billion (71.56%)
Q4 2021 $371 billion (67.7%)
Q1 2022 $235 billion (76.05%)
Q2 2022 $171 billion (78.8%)
Q3 2022 $133 billion (83.65%)
Q4 2022 $125 billion (86.21%)
Q1 2023 $124 billion (85.52%)
Q2 2023 $78 billion (84.78%)
Q3 2023 $65 billion (85.53%)
Q4 2023 $125 billion (81.17%)
Q1 2024 $256 billion (82.05%)

Source: Coinbase

What Are the Most Traded Currencies on Coinbase?

Bitcoin trades made up 33% of the total Coinbase trading volume in Q1 2024. That’s up from 29% in 2022.

Bitcoin trades made up 33% of the total Coinbase trading volume in Q1 2024

Here’s a detailed breakdown of Coinbase trade volume by asset since 2021:

Asset Share (Q1 2024) Share (2023) Share (2022) Share (2021)
Bitcoin 33% 34% 29% 24%
Ethereum 13% 20% 25% 21
USDT 11% 11%
Other crypto assets 43% 35% 46% 55%

Source: Coinbase

How Many Cryptocurrency Assets Are Supported on Coinbase?

Coinbase currently supports 248 tradable assets on the platform.

Coinbase currently supports 248 tradable assets on the platform

Source: Coinbase

Coinbase Total Revenue

Coinbase generated $3.11 billion in 2023. That’s down from $3.19 billion in 2022.

In the first 3 months of 2024, Coinbase has already generated $1.64 billion in revenue.

Coinbase Total Revenue

Here’s a table with Coinbase revenue since 2019:

Year Coinbase Revenue
2019 $533.73 million
2020 $1.28 billion
2021 $7.84 billion
2022 $3.19 billion
2023 $3.11 billion
Q1 2024 $1.64 billion

Source: Coinbase

Coinbase Transaction Revenue

Transaction fees represent the majority (65.75%) of Coinbase revenue.

Coinbase generated 1.52$ billion in transaction revenue in 2023. That’s a decrease from $2.36 billion in 2022.

Coinbase Transaction Revenue

Here’s a table with Coinbase transaction revenue since 2019:

Year Coinbase Transaction Revenue
2019 $463 million
2020 $1.1 billion
2021 $6.84 billion
2022 $2.36 billion
2023 $1.52 billion
Q1 2024 $1.08 billion

Source: Coinbase

Coinbase Subscription and Services Revenue

Coinbase subscription and services revenue consists of blockchain rewards, custodial fee revenue, earn campaign revenue, interest income, and subscription licenses.

Coinbase brought in $1.41 billion in subscription and services revenue in 2023. That’s up from $792.57 million in 2022.

Coinbase Subscription and Services Revenue

We’ve charted Coinbase subscription and services revenue since 2019:

Year Coinbase Subscription and Services Revenue
2019 $19.94 million
2020 $44.99 million
2021 $517.49 million
2022 $792.57 million
2023 $1.41 billion
Q1 2024 $510.94 million

Source: Coinbase

How Many People Work at Coinbase?

Coinbase had 3,416 employees in December 2023. Since December 2022, Coinbase has decreased its headcount by 1094 employees.

Coinbase had 3,416 employees in December 2023

Here’s a table showing the number of employees at Coinbase since 2020:

Year Coinbase Employees
2020 1,249
2021 3,730
2022 4,510
2023 3,416

Source: Coinbase

Conclusion

That’s it for my list of Coinbase stats in 2024.

Coinbase remains one of the leading crypto platforms today but its revenues are down from peak crypto activity in 2021. It will be interesting to see whether Coinbase will be able to resume its rapid growth as before.