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Last Updated on March 8, 2025 Coinbase, one of the oldest cryptocurrency exchanges, was founded in 2012 by Brian Armstrong and Fred Ersam, aiming to simplify and secure cryptocurrency transactions.
Initially supporting only Bitcoin, the platform now trades 248 cryptocurrencies and 3 fiat currencies as of 2025.
Over the years, Coinbase expanded its offerings with Coinbase Pro for expert traders and Coinbase Wallet for secure storage.
The platform, user-friendly and resembling an online bank account, became one of the first exchanges to go public in 2021, listing on NASDAQ under the ticker COIN, marking a significant milestone for the crypto industry.
Despite being the largest crypto exchange in the US and among the safest globally, Coinbase has faced challenges, including accusations of overcharging traders and competition from younger platforms like Binance.
However, it returned to profitability in 2023 as Bitcoin’s value increased.
The following article provides detailed data on Coinbase’s growth.
Overview Of Coinbase Statistics
- Coinbase monthly transacting user count has reached 8.8 million.
- In the first quarter of 2024, Coinbase saw a 72% jump in revenue from the quarter-one recording of last year. The revenue figures released for the first quarter of 2024 are $1.2 billion.
- After Q1 of 2024, Coinbase’s market share stands at 6.8%.
- The trading volume recorded for Q1 2024 on Coinbase is $312 billion.
- In the year 2023, Coinbase reported a profit of 95 million.
Coinbase Monthly Active Transacting Users Statistics
In monthly transacting users, only the users who have made at least one transaction on the platform in 28 days are counted. It’s a sum of monthly active users on an exchange platform.
The data of monthly transacting users for Coinbase is released every quarter, i.e., data for three months are released together.
We have collected the most recent data for each quarter starting from 2018. According to the data, Q4 of 2021 reported the highest monthly users,i.e., 11.4 million.
Throughout 2022, monthly users fluctuated between 9 and 8 million. But from the second quarter of 2023, monthly users declined rapidly, going as low as 6.7 million in Q3.
There isn’t any one reason behind this fall in monthly users. Many circumstances influenced the numbers, from competition and regulatory challenges to a highly volatile market.
When Q4 data of 2021 is compared against Q3 of 2023, we see a decline in several users by 41.23%.
However, after Bitcoin began showing extremely low volatility in the third quarter of 2023, the situation started to change, and users began to increase.
Fast forward to 2024, the monthly user figure is again at 8 million and is growing continuously. Although, at times, the user numbers fell from 2018 till now, Coinbase shows a significant growth of 196.30%.
From the numbers, it’s safe to say that Coinbase will soon record 10 million monthly users.
| Date | 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 |
Coinbase Assets Under Management Summary
According to recent data from 2024, the total assets customers hold on Coinbase is $334.71 billion.
Assets denote the total value of cryptocurrencies and any other financial balances the customer holds on an exchange platform. In Q1 of 2018, Coinbase had an assets value of $13, which has only expanded over the years to achieve a $300 billion mark.
To be accurate, from Q1 of 2018 to Q4 of 2024, Coinbase experienced a 2470.08% growth over the years.
The year-wise data indicates the growth of the user base and a favorable position of Coinbase in the crypto market.
| Date | Assets On Coinbase |
| 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 |
Coinbase Institutional Trading Volume
Large organizations such as pension funds, hedge funds, family offices, and insurance companies that trade in cryptocurrencies are called Institutional traders.
Institutional traders make up a large part of the Coinbase user base. In the first quarter of 2024 alone, Coinbase recorded an institutional trading volume of $256 billion, 82.05% of all the trades conducted on Coinbase.
Since Q1 of 2018 till Q4 of 2024, the institutional trading volume has increased by 2227.27%.
| 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 (71.65%) |
| Q4 2021 | $317 billion (68.61%) |
| 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 | $125 billion (81.53%) |
| Q4 2023 | $125 billion (81.17%) |
| Q1 2024 | $256 billion (82.05%) |
Retail Trading Volume On Coinbase
In the crypto world, individual users who are not professional investors who trade using their funds are referred to as retail traders.
Institutional traders make up the majority of Coinbase’s user base. However, Coinbase has a significant share of retail traders, too. The calculations of the recent data show that retail trading volume occupies 17.95% of the total trading volume of Coinbase.
From Q1 of 2021 till Q1 of 2022, the retail trading volume was at its all-time best. The retail trade volume fell from Q2 of 2022 and dragged low until the end of 2023. In 2024, the retail trading volume again increased and showed better numbers.
The retail trading volume in just the first quarter of 2024 is up by 93.10% concerning Q4 numbers 2023.
From this, we can easily conclude that retail traders are again starting to choose Coinbase.
| 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%) |
Coinbase Revenue Over The Years
Another factor that points towards the success of Coinbase is the revenue. As per the records, in 2021, Coinbase incurred the highest revenue – $7.84 billion.
Compared with 2020 to 2021, the growth percentage is nearly 513%. The revenue skyrocketed in 2021.
However, the revenue boost was cut short, and the revenue declined to around $3.19 billion in 2022 and remained around $3 billion even in 2023. In just one year, the income was reduced by 2.69%.
Apart from all these, the good news is that 2024 seems like a promising year for Coinbase.
In the first quarter of 2024, Coinbase reported revenue of $1.64 billion, 122% more than 2023’s Q1 revenue. It’s just the start. The rest of the year is still left.
Plus, the way the market is going, it can be estimated that Coinbase might witness 2021’s growth spurt soon in 2024.
| Year | Coinbase Revenue 2019-2024 |
| 2019 | $533.74 Million |
| 2020 | $1.28 Billion |
| 2021 | $7.84 Billion |
| 2022 | $3.19 Billion |
| 2023 | $3.11 Billion |
| Q1 2024 | $1.64 Billion |
Coinbase Profit Statistics
More or less, for the last 5-6 years, Coinbase has mostly earned profit, except on a few occasions.
Like in 2018,2019 and 2022, the brand’s balance sheet showed losses. However, again, the financial report 2023 highlights a profit of $95 million.
After suffering losses in 2022 the following year, Coinbase emerged as a phoenix by earning a significant profit.
| Year | Profit |
| 2017 | $380 Million (Profit) |
| 2018 | $55 Million (Loss) |
| 2019 | $30 Million (Loss) |
| 2020 | $108 Million (Profit) |
| 2021 | $3,097 Million (Profit) |
| 2022 | $2,625 Million (Loss) |
| 2023 | $95 Million (Profit) |
Number Of Verified Coinbase Users Base
An exchange platform’s verified users are its entire user base. Every active and inactive user on the platform is counted annually when verified users are calculated.
The number of verified users on Coinbase in August 2023 was 56 million, while it was 70 million just the previous year.
There, the user count went down by 20% in 2023. It should be remembered that the company didn’t release the year-end count of verified users for 2023.
But keeping the market conditions in mind, the niche leaders estimated that the user number of 56 million could reach up to 150 million.
There’s no way to verify this estimate, as the 2023 user report wasn’t released.
| Year | Users |
| 2014 | 1 Million |
| 2015 | 2 Million |
| 2016 | 5 Million |
| 2017 | 13 Million |
| 2018 | 22 Million |
| 2019 | 30 Million |
| 2020 | 35 Million |
| 2021 | 73 Million |
| 2022 | 70 Million |
| 2023 | 56 Million |
Market Share Of Coinbase
Coinbase might not have the highest market share, but it currently has the 5th largest market share in spot trading. The reports state that in Q1 of 2024, Coinbase was in the 5th position with a 6.8% market share.
New Coins Upcoming To Coinbase
The list of coins on Coinbase is going to grow longer in 2024. Till 2023, the platform supported over 250 currencies. That figure will change with the significant new coin listing programs on the way.
In 2024. Coinbase plans to enlist 16 new coins to its existing currency directory. The 16 new coins are –
- PlayDoge
- Wiener AI
- Sealant
- Base Dawgz
- Mega Dice Token
- 99Bitcoins Token
- Sponge V2
- Tuk Tuk
- KAI
- Dreamcars
- Shiba Shootout
- SpacePay
- FightNight
- Akash Network
- Helium Mobile
- Big Time
When it comes to investments, Coinbase doesn’t invest directly. Instead, its capital venture, a separate organization called the Coinbase Venture, makes all the investments.
Coinbase Ventures has invested in various crypto and blockchain plans. As per the updated information till June 2024, Coinbase Ventures has already invested in about 376 projects.
Coinbase Safety & Security Measures
Coinbase is famous as one of the safest and most secure crypto exchange platforms.
Coinbase has established user security measures like Two-Factor Authentication (2FA), device allowlisting, biometric verification, etc. While for its users’ funds, Coinbase has FDIC-pass-through insurance to protect user funds.
The insurance provides coverage of about $250,000 for every user.
Depository institutions where Coinbase usually deposits its users’ funds are –
- JPMorgan Chase
- Cross River Bank
- Customers Bank
- Pathward.
Moreover, they work by compliance and have security processes like KYC verification and AML policies.
FAQs
Q1. What are the most traded currencies on Coinbase?
Bitcoin, Ethereum, and USDT are the most traded currencies on Coinbase. In Q1 of 2024, Bitcoin accounted for 33% of Coinbase’s total trading volume. Ethereum and USDT follow closely with a 13% and 11% trade share, respectively.
Q2. What are the most held currencies on Coinbase?
Coinbase, since the beginning, has revolved mainly around Bitcoin. So, the currency most widely used by users is Bitcoin.
After Bitcoin, Ethereum is the most prominent currency on Coinbase. Bitcoin and Ethereum currency asset users make up 67% of all crypto assets on the Coinbase exchange.
Q3. What is the trading fee on Coinbase?
Coinnbase usually charges a trading fee ranging between 0.05% to 0.60% for each trade. The fee percentage is decided based on the trading amount and payment method. But this fee is updated occasionally and varies in Coinbase Pro.
Q4. Number of people working at Coinbase.
According to the last count in December 2023, Coinbase has 3,416 employees.
Q5. Does Coinbase provide tax reports for my transactions?
Through Coinbase Taxes, users can view and download their tax documents. Starting from the 1099s, all the tax reports of a user during their time on Coinbase are available in the Coinbase Taxes.
Q6. What country uses Coinbase the most?
The United States is the country that uses Coinbase the most, as it is a US-based platform, and the majority of its user base and trading volume comes from the US.
Q7. Who are the largest investors in Coinbase?
The largest investors in Coinbase include:
-
- Andreessen Horowitz
- Union Square Ventures
- Ribbit Capital
- Tiger Global Management
- IVP (Institutional Venture Partners)
Q8. What is the highest stock price ever on Coinbase?
The highest stock price for Coinbase was around $429.54 per share, which was reached on the day of its IPO on April 14, 2021.
Q9. What is the most traded coin on Coinbase?
Bitcoin (BTC) is the most traded coin on Coinbase, followed by Ethereum (ETH).
Q10. How many customers does Coinbase have?
Coinbase has over 100 million verified users as of 2024.
Q11. How many users does Coinbase have?
Coinbase has over 100 million verified users globally as of 2024.
Q12. Coinbase daily active users?
Coinbase has approximately 8 to 9 million monthly transacting users (MTUs), which translates to about 300,000 daily active users (DAUs) on average, depending on market conditions.
