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.
