Coinbase (NASDAQ:COIN) is a cryptocurrency exchange based out of the United States. As of this writing, COIN is worth $248.20 per share.
Due to its Initial Public Offering (IPO) this year, there’s been a lot of buzz surrounding Coinbase. That’s probably why you clicked on this article.
Are you searching for the best Coinbase facts and stats? Then you’ve come to the right place.
We did all the research on Coinbase users, coins, and more so you don’t have to. Check out our findings below.
- The Coinbase platform has 68M verified users and 8.8M active transacting users as of this writing.
- In 2021, 10.89% of Coinbase’s verified users are active transacting users, up from 8% in 2020, 3.33% in 2019, and only 3.18% in 2018.
- Verified coinbase users increased 5500% from 2014 to 2021, or from 1M users to 56M users. Experts project that Coinbase’s user base will grow to 72M by the end of 2021.
- Active transacting users on Coinbase increased 118% from Q4 2020 to Q1 2021, or from 2.8M to 6.1M.
- In 2020, Coinbase brought in $1.28B in revenues. This was a 139.8% increase from 2019’s revenues of $533.73M.
- Coinbase holds over 11.3% of the crypto market in 2021, a 0.2% increase from 2020.
- Coinbase’s total retail trading volume hit $73B in 2020, up from $34B in 2019 and $72B in 2018.
- Coinbase’s share of the market’s retail trading volume has declined since 2018. It held 80.36% of retail trading volumes in Q1 2018 with $45B in quarterly trading volumes but only 35.95% of retail trading volumes in Q1 2020 with $32B in quarterly trading volumes.
- BTC and ETH are the most traded assets on Coinbase, with 41% and 15% of trade volume share in 2020, respectively.
- 108 cryptocurrencies are supported on Coinbase, a 20% increase from December 2020.
- Coinbase assets had a total value of $223B in Q1 2021, a 150% increase quarter-over-quarter from Q4 2020’s total value of $90B.
- Of the top three US cryptocurrency exchanges, Coinbase customers make the most complaints. Coinbase received 1,110 total customer complaints from June 2020 to June 2021, over 97% of which regarded issues with money transfers, virtual currency, and/or money services.
- Recently, Coinbase hired more than 3,000 customer support agents to address its growing customer complaints, resulting in a 70% decline in user complaints since January 2021.
- Coinbase IPOd on April 14, 2021. It debuted as a direct listing on NASDAQ as COIN for $381 per share. At the close of trading on its IPO day, Coinbase’s share was worth $328,28, giving the company a total market capitalisation of $85.5B.
How Many Coinbase Users Are There?
Coinbase is one of the most well-known cryptocurrency exchanges in the world. It allows users to store, buy, and sell digital coins, including Bitcoin and Ether. But exactly how many users does Coinbase have in 2021? We’re breaking it down for you next.
- Coinbase accumulated its first 1M users in 2014, two years after the platform was founded.
- From 2020 to 2021, Coinbase’s user base increased by 60%, or from 35M users to 56M users.
- From 2014 to 2021, Coinbase’s user base increased by 5500%, or from 1M users to 56M users.
- Experts project that Coinbase’s total user base will hit 72M in Q4 2021, a 28.6% (16.8M) increase in users from Q1 2021.
Projection: Number of Verified Coinbase Users (2014-2021)
|Year||The Number of Verified Users|
|2021 Q1||56 million|
|2021 Q4||72 million|
- Active users on Coinbase increased 118% from the fourth quarter of 2020 (2.8M) to the first quarter of 2021 (6.1M).
- In 2021, 10.89% of Coinbase’s total user base were active users. This is up from 8% in 2020, 3.33% in 2019, and only 3.18% in 2018.
- The number of active users on Coinbase increased by 771.4% from 2018 (0.7M active users) to 2021 (6.1M active users).
- The number of active users on Coinbase increased 117.9% YOY from 2020 to 2021.
- For the quarter ended December 31, 2020, 2.8M Coinbase users performed monthly transactions, a 180% increase YOY.
Coinbase Monthly Active Users
Coinbase Monthly Transacting Users since Q1 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 2010||1.3 million|
|Q2 2020||1.5 million|
|Q3 2020||2.1 milllion|
|Q4 2020||2.8 million|
|Q1 2021||6.1 million|
- Coinbase has a total of 68M verified users as of this writing. It serves 9,000 institutions, 160,000 partners, and is available in over 100 countries.
- In its Q2 earnings statement, Coinbase announced that monthly transacting users grew from 6.1M in Q1 2021 to 8.8M in Q2 2021, a 44% increase.
- Coinbase has experienced significant growth in the number of institutional users on the platform, from 1,000 in 2017 to 7000 in 2020.
How Much Is Coinbase Worth?
With so many users logging onto Coinbase, a lot of money passes through the platform every day. How much money is Coinbase worth? Here’s what our research revealed:
- In 2020, Coinbase’s total revenue was $1.28B, a 139.8% increase from 2019 ($533.73M).
- Coinbase’s revenues hit $1B in 2017 before dropping to $520M in 2018, $533.73M in 2019, and trending back up in 2020 to $1.28B.
- Coinbase’s total revenue increased by 28% from 2017 to 2020 and by 2.64% from 2018 to 2019.
- Total revenue for Coinbase declined from 2017 to 2018 by 48%.
Coinbase revenue since 2017
- In 2021, Coinbase held over 11.3% of cryptocurrency market capitalisation, a 0.2% increase from 2020.
- Since 2018, Coinbase’s share of cryptocurrency’s market cap has increased from 4.5% to 11.3% (+6.8%).
Coinbase share of crypto market capitalization since 2018
- Coinbase’s share of the market’s retail trading volume has dipped over time. Coinbase held 80.36% ($45B) of the market in Q1 2018. As of Q4 2020, the platform only held 35.95% ($32B) of total cryptocurrency trading volume.
- Coinbase had a total retail trading volume of $72B in 2018, $34B in 2019, and $73B in 2020.
- From Q1 2018 to Q1 2020, Coinbase’s share of retail trading volume declined 73.33%, or from 80.36% of retail trading volume ($45B) to 40% of retail trading volume ($12B).
- After hitting a high of $45B in Q1 2018, Coinbase’s quarterly share of retail trading volume declined across all four quarters in 2018 (down 25.82% in Q4) and 2019 (down 21.43% in Q4).
- Coinbase’s retail trading volume declined 8.33% from Q1 to Q2 2020 before quickly recovering in Q3.
- Coinbase’s Q3 2020 retail trading volumes of $18B were up 63.64% from the previous quarter.
- In Q4 2020, Coinbase hit retail trading volumes of $32B, a 77.78% increase from the previous quarter and a 166.67% increase from Q1 2020.
Coinbase retail trading volume since Q1 2018
|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%)|
- In 2020, Coinbase’s transaction revenue increased 2.4x year over year, or to $1.1B, and accounted for nearly 85% of Coinbase’s total revenues.
- Coinbase’s subscription and service revenue was nearly $45M in 2020, a 2.3x increase over 2019.
- Coinbase’s net income increased from $730M to $800M during the first quarter of 2021.
- Coinbase earned $1.61M in Q2 2021, an increase from $32M in Q2 2020.
- Coinbase’s cash reserves hit $4.4B in June 2021, up from December 2020’s cash reserves of $1.1B.
- The average deposit size on Coinbase peaked at over $500 in 2021. January 2021’s all-time deposit high of $560 was up $90 from its previous all-time deposit high in 2017.
- Coinbase’s USDC holdings grew from 2019 ($48.9M) to 2020 ($88.4M).
Which Cryptocurrencies Does Coinbase Support?
Users come to Coinbase for the crypto. But Coinbase traders show preference for some digital currencies over others. Keep reading for the facts our research revealed about the top cryptos on Coinbase today.
- Bitcoin (BTC) and Ether (ETH) are the most traded assets on Coinbase, representing 41% and 15% of trade volume share in 2020 and 58% and 14% of trade volume share in 2019, respectively.
- Litecoin (LTC) was the third-most-traded asset in 2019.
- BTC’s share of Coinbase trade volume declined by 17% from 2019 to 2020, while ETH’s share of trade volume increased 1% during the same period.
- In 2020, 44% of Coinbase trading volume came from cryptocurrencies other than BTC and ETH, up a whopping 26% from 2019.
Coinbase trade volume by asset in 2019 and 2020
|Asset||Share (2020)||Share (2019)|
|Other crypto assets||44%||18%|
- Coinbase will support 108 cryptocurrencies by December 2021, a 20% increase year over year from December 2020.
- Coinbase supports 18 more cryptocurrencies in 2021 than it did at the end of December 2020.
- Since December 2019, cryptocurrency assets supported by Coinbase have jumped over 60 coins or by nearly 170%.
- From Q4 2020 to Q1 2021, total asset value on Coinbase’s platform grew from $90B to $223B, nearly a 150% increase quarter-over-quarter.
- Coinbase’s total asset value grew from $7B to $17B from 2018 to 2019 and from $17B to $90B from 2019 to 2020.
- More than 100 assets across 15 blockchains are supported on Coinbase Institutional Prime.
- Over 50% of assets ($122B) stored on Coinbase are owned by institutions.
- Coinbase’s total assets from institutions grew 590% from 2019 to 2020, or from $6.5B to $44.8B.
How Many Customer Complaints Does Coinbase Receive?
A top Google search query about Coinbase is, why is Coinbase’s customer service so bad? Here’s one reason: Coinbase receives a high number of customer complaints each year, making it challenging to keep up. What do customers complain about, how often, and what’s Coinbase doing to fix this issue? We’re answering these questions next.
- Coinbase received 1,110 total customer complaints from the period marked June 29th, 2020 to June 29th, 2021.
- 1,080 complaints (97.3%) were regarding issues with transferring money, cryptocurrencies, or other money service issues.
- The remaining 2.7% of complaints regarded problems with virtual currency, mobile or digital wallets, US money transfers, foreign exchange, and international money transfers.
- Approximately 0.18% of Coinbase complaints were due to trouble settling debt and getting refund anticipation checks.
|Product by Highest Complaint Volume|
|Nature of Complaint||Number of Complaints|
|Money Transfer, Virtual Currency, or Money Service||Virtual Currency||695|
|Mobile or Digital Wallet||293|
|Domestic (US) Money Transfer||72|
|Foreign Currency Exchange||10|
|International Money Transfer||8|
|Refund Anticipation Check||1|
|Checking or Savings Account||26|
|Credit Reporting, Credit Repair Services, or other Personal Consumer Reports||1|
- Coinbase received 1,914 total law enforcement information requests from January 1st, 2020 to June 30, 2020.
- 58% of Coinbase’s law enforcement information requests come from US agencies.
- 90% of Coinbase’s law enforcement information requests come from three jurisdictions: the US, the UK, and Germany.
- France, Austria, Spain, and Ireland contribute a combined 4.5% of Coinbase’s law enforcement information requests while Sweden, Norway, Netherlands, Switzerland, Australia, and South Korea contribute a combined 2.3% of law enforcement information requests.
- The remaining 3.2% of Coinbase’s law enforcement information requests come from the following countries: Czech Republic, Denmark, Finland, Poland, Singapore, Italy, Canada, Ukraine, Belgium, Brazil, Hungary, Malta, Portugal, Slovenia, Estonia, Greece, Latvia, Luxembourg, Romania, Slovakia, and Turkey.
- Of the three most popular exchanges based in the US, Coinbase receives the most customer complaints. The runners up are Robinhood and Binance.US, with 107 and 69 customer complaints respectively.
- Among US Coinbase customers, California residents had the most complaints with 131 in 2020 alone.
- Coinbase seems to be making changes to reduce customer complaint volume, including hiring more than 3,000 customer support agents. This has resulted in the rate of customer complaints declining 70% since January 2021.
What Else Do You Need to Know About Coinbase?
Still searching for Coinbase statistics in 2021? Here are a few more fun facts about Coinbase you may not have known before clicking on this article.
- Coinbase was founded in 2012. At the time, it exclusively dealt in Bitcoin.
- In 2016, a California District Court issued John Doe summons to Coinbase. The summons mandated Coinbase to turn over information about Coinbase users conducting cryptocurrency transactions from 2013 to 2015.
- Coinbase first launched in Japan in Q2 2021.
- Coinbase IPOd on April 14, 2021, debuting on the Nasdaq direct listing as COIN for $381 per share.
- At the close of trading on its IPO day, Coinbase’s share was worth $328.28. This gave the company a total market cap of $85.8B.