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Coinbase Usage and Trading Statistics (2021)

Coinbase is a cryptocurrency trading and investment website that allows users to buy, sell, and exchange over 100 different cryptocurrencies—including Bitcoin, Ethereum, and Dogecoin. 

The platform, which was launched in 2012, reached a million users in less than two years. Today, Coinbase exchange boasts 56 million registered users and completes $335 billion in trade volume per quarter.

Read on to know about Coinbase’s recent stats for 2021. Let’s first have an overview of the statistics.

Key Coinbase Stats

  • There are 56 million registered Coinbase users
  • Every month, 6.1 million Coinbase users complete at least one transaction
  • In 2020, Coinbase reported revenue of $1.28. And in the first quarter of 2021, it had already made about $1.8 billion
  • In the first quarter of 2021, Coinbase’s trading volume was $335 billion
  • Coinbase platform holds about 11.3% of the whole crypto market capitalisation

Coinbase Number of Users

Coinbase identifies a verified client as any retail and institution user with an approved account and a verified phone number or email address. 

 

Today, this platform has over 56 million registered users. Coinbase exchange reported 13 million new users over the past three months. 

 

Since March 2020, Coinbase’s user base has grown by 64.7%.

 

Here’s how Coinbase’s user base has grown from 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 exchange identifies monthly transacting users as those who make at least a single transaction within a given period of 28-days. 

 

Between January and March of 2021, Coinbase had 6.1 million monthly transacting users, per cent. here’s the breakdown of their monthly transacting users since 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

Hedge funds, financial institutions, and corporations are among Coinbase’s 7,000 institutional users. These institutional customers possess about $44.8 billion in assets on this platform between them.

 

Over the last year, Coinbase verified over 2,800 new institutional customers. During this time, the total value of institutionally owned assets on the exchange climbed 6.89 times.

 

Year Institutional customers
2019 4,200 ($6.5 billion)
2020 7,000 ($44.8 billion)

Assets On The Coinbase Platform

Coinbase customers had $223 billion in assets on the platform as of March 2021, a 13.12 times rise over the last year’s.

 

Here’s a detailed summary of the worth of assets on the Coinbase forum since the first quarter of 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 Highest Held Currencies On Coinbase?

Ethereum and Bitcoin hold about 83% of the total assets on the Coinbase forum, leaving other altcoins with only 13% to share. 

 

The following is a complete list of assets held on the Coinbase platform:

Asset Share
Bitcoin 70%
Ethereum 13%
Other crypto assets 13%
Fiat 4%

Coinbase Share Of Crypto Market Capitalization

The net worth of crypto assets on Coinbase users’ accounts represents about 11.3% of the whole crypto market capitalisation. 

 

Since 2018, Coinbase has steadily raised its market share of the cryptocurrency sector, rising from 4.5% in 2018. The following table shows Coinbase’s crypto market capitalisation share from 2018:

Year Share
2018 4.5%
2019 8.3%
2020 11.1%
2021 11.3%

Coinbase Retail Trading Volume

In the final three months of 2020, Coinbase executed over $32 billion in trades from retail consumers, contributing 35.95% of total transaction volume on the platform, with institutional investors accounting for the remainder—64.05 percent. 

 

In comparison to Q3 2020, retail trading volume increased by 77.7%. However, it is still well below the record of $45 billion set in Q1 2018.

 

The retail trading volume on Coinbase in 2020 was 2.15 times larger than in 2019.

 

Here’s a detailed breakdown of Coinbase retail trade volume since the first quarter of 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 investors accounted for $57 billion in trading activity on Coinbase exchange in Q4 2020, 64.05 percent of total trades.

 

In Q1 2018, institutional customers accounted for only 19.67% of overall transaction volume. And the figure has grown by 3.26 times since then.

 

The following table shows institutional trading volume on Coinbase since 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 Highest Traded Currencies On Coinbase?

Bitcoin trades accounted for 41% of Coinbase’s overall trading activity in 2020. This statistic was a decline from 2019’s 58 per cent.

 

The volume of Ethereum trades remained relatively constant. Whereas “other cryptocurrencies” grew in popularity, accounting for 44% of Coinbase trade volume last year, surpassing Bitcoin.

 

Besides Bitcoin, Ethereum, and Litecoin, other cryptocurrencies contributed only 18% of trading volume in 2019.

 

Here’s how Coinbase trade volume by asset compares in 2019 and 2020:

Asset Share (2020) Share (2019)
Bitcoin 41% 58%
Ethereum 15% 14%
Other crypto assets 44% 18%
Litecoin No data 10%

What’s The Average Coinbase Deposit Size?

In February 2021, the average Coinbase deposit was $529. This was down somewhat from a month ago’s record of $560.

How Many Cryptocurrency Assets Are Supported On Coinbase?

Coinbase exchange supports 108 cryptocurrencies. Since December 2019, the site has introduced support for an additional 68 crypto assets.

 

The following table shows the number of crypto assets supported by this platform since 2019:

Date Crypto assets
December 2019 40
December 2020 90
December 2021 108

Coinbase Total Revenue

In 2020, Coinbase made $1.28 billion in revenue. This represents a 139.82% rise over the previous year.

 

Coinbase has already made $1.8 billion in the Q1 of 2021, surpassing the annual total from the previous year (2020).

 

Here’s a quick look at Coinbase’s earnings since 2017:

Year Total revenue
2017 $1 billion
2018 $520 million
2019 $533.73 million
2020 $1.28 billion

Coinbase Transaction Revenue

Transaction fees represent 85.94% of Coinbase revenue (the vast majority).

 

Coinbase bagged $1.1 billion in 2020—a 2.37x increase.

 

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

Year Transaction revenue
2019 $463 million
2020 $1.1 billion

Coinbase Subscription And Service Revenue

Custodial fee revenue, earning campaign revenues, staking revenue and interest are the four primary sources of revenue to Coinbase. 

 

Subscription and service revenue at Coinbase totals $44.99 million. Since 2019, there has been a 2.26x growth.

 

The following is Coinbase subscription and service revenue record from 2019:

Year Subscription and services revenue
2019 $19.94 million
2020 $44.99 million

How Many People Work At Coinbase?

Coinbase has more than 1,700 employees. The organisation has recruited 451 new employees since January 2021.

 

Engineering, product, and design teams represent 40% of the workforce.

 

While Coinbase is primarily a remote firm, it has offices in the United States, the United Kingdom, Japan, Ireland, Germany, and the Philippines.

Bottom Line

Coinbase exchange is riding the crypto wave with these stats, drawing a growing number of users and trading activity. However, as cryptocurrency becomes more mainstream, other competitors emerge.

 

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