Coinbase Usage and Trade Statistics (2021)
Coinbase is a leading cryptocurrency exchange.
The platform, launched in 2012, registered its first million users in less than two years.
Today Coinbase has 56 million registered users and processes a trading volume of $ 335 billion per quarter.
Read on to find the latest stats on Coinbase in 2021.
Here’s a quick rundown of what you’ll find on this page:
Important 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 done $ 1.8 billion in the first 3 months of 2021 alone.
- The trading volume on Coinbase in the first quarter of 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 any retail and institutional user with a registered account and a verified email address or phone number.
Coinbase has 56 million verified users. The platform has added 13 million new users in the last 3 months alone.
And Coinbase’s user base has grown by 64.7% since March 2020.
Here is the full breakdown of Coinbase’s user growth since January 2013:
|Quarter, year||Verified users|
|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|
Source: Coinbase, Alistair Milne.
Coinbase monthly transaction users
Coinbase defines monthly transaction users as retail users who perform at least one transaction within a specified period of 28 days.
Coinbase had 6.1 million monthly transaction users in the first quarter of 2021, which is the same 10.89% the entire user base.
The number of active transaction users has increased 2.18x in the last quarter.
Since the first quarter of 2018, we have recorded monthly transaction users of Coinbase:
|Quarter, year||Monthly transactional 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 clients
Coinbase has 7,000 institutional clients, including hedge funds, financial institutions and corporations. Between them hold these institutional clients $ 44.8 billion Value of assets on the platform.
Coinbase added 2,800 new institutional clients last year. The total value of institutionally held assets on the platform increased 6.89x In these times.
|2019||4,200 ($ 6.5 billion)|
|2020||7,000 ($ 44.8 billion)|
Assets on the Coinbase platform
As of March 2021, Coinbase customers stopped $ 223 billion Value of assets on the platform. That is a 13.12x Increase in the last year.
Here’s a comprehensive rundown of the value of assets on the Coinbase platform since the first quarter of 2018:
|Quarter, year||Assets on the 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 commonly held currencies on Coinbase?
Represent Bitcoin and Ethereum 83% of all assets on the Coinbase platform.
Other supported crypto assets make up a 13% Share.
Here is a full breakdown of the assets held on Coinbase:
|Other crypto assets||13%|
Coinbase share of crypto market capitalization
The total value of the crypto assets on Coinbase matters 11.3% of the total crypto market capitalization.
Coinbase has continuously increased its share of the crypto market since 2018 4.5%.
Here is a table showing Coinbase’s share of crypto market cap since 2018:
Coinbase retail volume
Coinbase processed $ 32 billion Value of retail transactions in the last 3 months of 2020. This explains a 35.95% Share of the total trading volume on the platform, with the remaining activity coming from institutional investors.
The retail volume grew 77.7% Compared to Q3 2020, but below the all-time high of $ 45 billion reached in Q1 2018.
Coinbase’s trading volume in 2020 was 2.15x higher than in 2019.
Here’s a full breakdown of Coinbase’s trading volume since Q1 2018:
|Quarter, year||Retail Volume (% of Total Retail 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 had a trading volume of $ 57 billion in the fourth quarter of 2020, which corresponds to a share of 64.05% of total trade.
Institutional clients only mattered 19.67% of total trading volume in the first quarter of 2018. Since then, the number has increased 3.26x.
We have recorded the 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 invented 41% of total Coinbase trading volume in 2020. That is less than 58% in 2019.
The trading volume of Ethereum remained largely constant. But “other cryptocurrencies” rose and made up for that 44% of Coinbase’s trading volume last year – more than Bitcoin. Cryptocurrencies other than Bitcoin, Ethereum and Litecoin accounted for only 18% of the trading volume in 2019.
Here is a comparison of Coinbase trading volume by asset in 2019 and 2020:
|Asset||Share (2020)||Share (2019)|
|Other crypto assets||44%||18%|
What is the average Coinbase deposit size?
The average Coinbase deposit size was $ 529 in February 2021. That is a little less than a high point of $ 560 a month earlier.
Source: Serious research.
How many cryptocurrency assets does Coinbase support?
Coinbase supports 108 Crypto assets. The platform has been offering support for a further 68 crypto assets since December 2019.
The following table shows the number of crypto assets supported by the Coinbase platform since 2019:
Total revenue from Coinbase
Coinbase generated $ 1.28 billion in revenue in 2020. That’s a 139.82% Increase compared to the previous year.
And in the first three months of 2021, Coinbase has already generated $ 1.8 billionand thus exceeded the total annual number of the previous year.
Here is a table of Coinbase earnings since 2017:
|2017||$ 1 billion|
|2018||$ 520 million|
|2019||$ 533.73 million|
|2020||$ 1.28 billion|
Swell: Coinbase, Reuters, Vox.
Coinbase Transaction Proceeds
Transaction fees represent the vast majority (85.94%) of Coinbase earnings.
Coinbase generated $ 1.1 billion This corresponds to an increase of 2.37x compared to the previous year.
Here is a table showing the revenue from Coinbase transactions since 2019:
|2019||$ 463 million|
|2020||$ 1.1 billion|
Coinbase subscription and service revenue
Coinbase income from subscriptions and services consists of four elements: income from custody fees, income from stakes, income from campaigns and interest income.
Coinbase brings in $ 44.99 million in subscription and service revenue. That’s a 2.26-fold increase since 2019.
We have tracked revenue from Coinbase subscriptions and services since 2019:
|year||Subscription and service revenue|
|2019||$ 19.94 million|
|2020||$ 44.99 million|
How many people work at Coinbase?
More than 1,700 employees Work at Coinbase. The company has added since January 2021 alone 451 new employees.
40% of employees work in engineering, product or design teams.
While Coinbase is a remote first company, the organization operates offices across Germany 12 locations in the US, UK, Japan, Ireland, Germany and the Philippines.
That’s it for my list of Coinbase stats in 2021.
Coinbase is riding the crypto wave, attracting more and more trading activity and user numbers. But the more crypto becomes mainstream, the more competitors emerge.
Now I want to hear from you:
Do you think Coinbase can sustain its rapid growth? How will the IPO affect you?
I would also like to know if you think I have missed something. Or if you have any questions about the stats I recorded.
Leave a comment below and I’ll get back to you.