The Small Business Times

Coinbase Statistics: Users, Revenue and Market Share in 2022

With cryptocurrency taking the world by storm, are you also researching the popular trading platform Coinbase and Coinbase statistics? Well, you are at the right article. Coinbase is a leading cryptocurrency exchange that was started a decade ago. 

Coinbase has led the way for cryptocurrency since its inception in 2012. This massive cryptocurrency exchange and storage service offer a wide range of currency exchanges. The Coinbase statistics have revealed how the platform has grown by four folds over the years. Coinbase has over 73 million subscribers on the platform and allows you to trade all the major cryptocurrencies in the market.

We have collected the newest Coinbase statistics for the year 2022. In this Coinbase statistics guide, we’ll discuss everything from its revenue to the number of currencies this platform holds.

Key Coinbase Statistics 2022

In this Coinbase statistics guide, here are a few key stats that you should know about before you read any further.

  • In 2021, Coinbase had a total valuation of $65 billion. This is up by $37 billion in one year. 
  • Coinbase generated over $7 billion in revenue in 2021. It generated around $1.28 billion in revenue in 2020.
  • Coinbase is the most profitable platform right now, making about $2.36 billion in profit in 2021.
  • 86% of Coinbase revenue comes from transaction fees. 
  • Coinbase has more than 73 million registered users on the platform. 
  • 8.8 million monthly users were active on Coinbase in the year 2021.
  • Over 6.1 million users make at least one transaction at Coinbase. 
  • An average active user at Coinbase owns over $5000 of cryptocurrency.
  • The Coinbase platform holds around 11.3% of the entire crypto market capitalization.

Coinbase Overview

Coinbase is amongst the most popular crypto exchange platforms in the industry. It makes it easier for beginners and advanced crypto enthusiasts to buy, sell, or exchange their cryptocurrencies. They have over 100 tradeable cryptos listed on their platform, including Bitcoin, Ethereum, and Dogecoin. Before diving deep into Coinbase statistics, we will first look into how this platform became so popular.

The Coinbase Exchange was started in 2012 and is now the largest trading platform in the United States by volume. Before Bitcoin ballooned in volume, Coinbase had already integrated its payment processing capabilities with PayPal, Stripe, and Braintree. 

Initially, Coinbase was a platform where you could buy and sell Bitcoin. Over the years, as cryptocurrency trading became more popular, the platform also started integrating other cryptos. It now has more than 100 cryptocurrencies listed on its platform. This robust cryptocurrency exchange ecosystem is a decentralized company with no physical headquarters. 

Coinbase is accessible in over 100 countries and is used by more than 73 million people worldwide. The platform trades over $327 billion every quarter. Coinbase also supports over 9,000 financial institutions. And the company runs two trading platforms and a standalone cryptocurrency wallet service. 

Anyone can sign up for free on their platform and start learning about the basics of crypto. You can buy and sell the crypto of your choice and pay a meager amount as transaction fees. If you need to read your cycles and maps before making a calculated investment, you can buy their Coinbase Pro plan.

Coinbase Valuation

In this section of Coinbase statistics, we will discuss its valuation since it went public in April 2021. Initially, its stock was priced at $250. 

The company was valued at $1.6 billion in 2017. It expanded its holding by getting venture capital from private investors. In 2018, the company was valued at $8 billion. Coinbase exponentially grew its valuation in 2020 and was valued at $28 billion.

In April 2021, Coinbase was listed on Nasdaq after receiving official approval from the SEC. It was valued at $65.3 billion in 2021, making it the most profitable year for the platform. Before the company went public, the private investors traded the company stocks at a valuation of $100 billion. 

The public investors of Coinbase have already seen a profit in the first quarter after the listing. The company’s valuation continues to grow as new members are registered to the platform every day.

General Coinbase Stats

How Many Users Does Coinbase Have?

This section of Coinbase statistics discusses the total number of users that Coinbase has. As of 2021, Coinbase is estimated to have a 73 million user base globally, making it the fastest-growing crypto company today. This number of users was only 35 million in the year 2020. 

Coinbase has grown significantly since it went public in 2021. Amongst the total number of registered users, 8.8 million are its monthly active members, accessing their Coinbase account every month. 

As per the reports by Coinbase, around 6.1 million of its user base make at least one transaction every month.

Monthly Active Coinbase Users

This section of Coinbase statistics will analyze the monthly active users of this trading platform. Monthly active users of Coinbase have constantly been increasing every year since the platform’s inception. And the total number of active members has also been tripled from 2020 to 2021. This can be due to the growing awareness of cryptocurrency today. 

Coinbase also has excellent marketing and outreach, making the public aware of the exchange. Any registered member that makes at least one transaction in a month is called a monthly active user. This includes the selling, buying, or exchanging of their current crypto holdings. 

There were around 700,000 monthly active users in 2018. In 2019, this number reached the 1 million mark. However, this number tripled in 2020, when the monthly active members on the exchange grew to 2.8 million. Subsequently, this number tripled again in 2021 to 9 million active monthly users. 

These solid Coinbase statistics prove that it is one of the most popular crypto exchange platforms in the United States today. Most users only use Coinbase software to trade or track their crypto assets.

Institutional Customers of Coinbase

According to Coinbase statistics, the platform has 7000 institutional customers. This list of institutional costumes includes corporations, hedge funds, and financial institutions. The total asset locked between these customers is $44.8 billion.

The total number of institutional customers in 2019 was around 4,200. The total assets among these customers were around $6.5 Billion. However, this number significantly grew seven-fold in 2020 when the total institutional asset on the platform grew to $44.8 billion.

Due to Bitcoin’s volatility in 2021, a few institutions have also become more cautious of their investment. Because of this, Coinbase has also been looking to initiate service for institution-specific brokerage. This brokerage service would help the institutions for safer trading and storing of their crypto assets. The service would also provide data for analysis that can allow the investors to track different crypto trends.

How Many Countries Can You Find Coinbase In?

Coinbase has a customer base from 100 countries across the globe. This number varies from multiple continents, including North & South America, Africa, Europe, Asia, and Oceania. The platform also sorts your offerings based on your continent, letting you see the countries that offer it near you.

How Much Crypto Does an Average Coinbase Customer Own?

The total managed asset in 2021 was $221 billion. Around $44 million customers use the exchange platform for active exchanges. These exchanges happen in millions every month. When we crunch the numbers together, the approximate amount comes out to be over $5000 per user. 

However, this number varies since some Coinbase users have assets that number in millions and billions. And the customers with less than $5000 on the Coinbase platform are much more than people with more than that.

Average Age of Coinbase Users

This section of Coinbase statistics discusses the average age of Coinbase users. Although Coinbase is a public company, the platform doesn’t disclose the location or age of its registered users. This is due to the significant privacy issue that the cryptocurrency community faces. The company works to maintain its user’s privacy. It is only obligated to disclose some information to entities like the IRS.

As per the analysis, the average age of an investor on the Coinbase platform is 38 years. Many users are below the average age of 38. This number is higher on a stock exchange platform, around 47 years. Therefore we can conclude that the cryptocurrency space is more popular than the stock market amongst younger generations.

Coinbase Revenue and Trading Stats

Assets Listed on Coinbase

Coinbase supports 158 crypto assets as of March 2022. The platform has added support for 50 additional cryptocurrency assets since 2021. There are over 150 currencies that you can use to invest or trade. This wide range of assets makes Coinbase inclusive for all beginners and expert investors.

Cryptocurrency networks like Bitcoin, Ethereum, Polygon, Dogecoin, etc., are supported by your wallet and can be used to make purchases online. The wallet also supports different ERC-20 tokens that you check quickly by looking them up on the Coinbase mobile application. Conversion of ERC-20 currencies is also available, but for other coins, you would need to convert it to a stable coin first.

Most Held Currencies on Coinbase

In this section of Coinbase statistics, we will discuss the multiple crypto assets held by their users. Bitcoin and Ethereum are the most held cryptocurrencies on the platform. Of all the total assets on the Coinbase platform, 83% of the currencies are Ethereum and Bitcoin. We can say that the most popular cryptocurrencies globally are the most held on this crypto exchange.

Since Bitcoin has a 21 million coin limit, investors are more likely to hold the currency in anticipation. Ethereum being the most convenient coin for making purchases, it is used more than Bitcoins for transactions. Litecoin is the third most popular crypto asset on Coinbase due to its lower gas fees than Ethereum. 

Every coin listed on the Coinbase exchange has multiple advantages and disadvantages. Each coin has a specific use case and unique transaction power.

Most Traded Currencies on Coinbase

This section of Coinbase statistics will discuss the most traded cryptocurrencies on this platform. About 41% of the total Coinbase trading volume comprises Bitcoin. This is because it comprises more than half of the total market share of cryptos. Most investors use Coinbase only to trade bitcoins and do not research other offerings by the Coinbase platform. 

The next popular coin on the list is the NuCypher coin made using the ERC-20 on the Ethereum network. Due to its low trade price, it is convenient for newer investors to get hold of complete units, unlike Bitcoin.

Ethereum and Shiba Inu are the third and fourth most traded coins on the Coinbase platform, respectively. Due to its growing popularity, Polygon is the next most popular asset of 2021. Although these positions can change depending on their popularity and market cap, bitcoin is more likely to maintain its top position.

Average Coinbase Deposit Size

This section of our Coinbase statistics blog post will analyze the average deposit made by an active user on Coinbase. In January 2021, the average Coinbase deposit size was $560. However, as per stats registered in February 2021, the average Coinbase deposit size dropped slightly to $529.

Market Shares in Crypto Capitalization Market

This section of Coinbase statistics will discuss its market share in the crypto capitalization market. Coinbase has a pretty good market share globally and is the top platform in the United States. In 2018 the market share of Coinbase stood at 4.5%. 

The market share almost doubled to 8.3% the following year. In 2021, Coinbase held 11.3% of the total market capitalization in the digital asset industry.

Coinbase’s market share is spread over 50 different assets. The majority of the share comes from Ethereum and Bitcoin. Depending upon the currency, Coinbase has a different market share. The company holds most or all the shares in different niche categories. 

To increase their market share, the company’s executives plan on acquiring more cryptocurrencies. They will do this by investing hundreds of millions of dollars in digital assets, helping them increase their market share. Since Coinbase holds only a fraction of the market, the company has the opportunity to grow enormously in the coming years. 

Coinbase Subscription and Service Revenue

Coinbase has multiple revenue streams, making it a versatile crypto exchange platform. Approximately 4% of their entire revenue comes from subscriptions and services. Depending on the value of the transactions, this value can fluctuate. As per the recent discussions, the company’s executive believes that they could double this number in the next few years.

In 2019, Coinbase generated around $19.94 million in revenue from subscriptions and services. This number doubled in 2020 when the company generated $44.99 million from subscriptions. In 2021, Coinbase generated over $100 million from service and subscriptions alone. 

Coinbase offers subscription products to crypto traders, which is a stable alternative to volatile cryptocurrency. These subscriptions help support the platform in case the value of the crypto market crashes. The platform also offers a Coinbase Prime service that provides more robust management of the trader’s crypto portfolio.

Trading Volume Statistics of Coinbase

Coinbase Total Transaction Volume

The transaction volume of the cryptocurrency exchange platform indicated the number of digital assets that have been traded on the platform. In this section of Coinbase statistics, we will discuss the total transaction volume of this leading crypto trading platform. 

In 2017, when the crypto market had started to gain traction, Coinbase had a total transaction volume of $135 billion. However, in the following years, the platform didn’t do very well due to the mistrust in the crypto market. The transaction volume dipped slightly to $130 billion.

By 2020, Coinbase was one of the leading crypto platforms in the United States. It had a total transactional value of $195 billion. Coinbase grew in popularity and its numbers three times in the first half of 2021. And the transaction volume rose to $797 billion. 

Institutional Trading Volume

As the name suggests, institutional trading means the crypto transactions or the trading done on behalf of an institution. Rather than an individual portfolio, these accounts are run by insurance companies, pension funds, or mutual fund families. In this section of Coinbase statistics, we will discuss the institutional trading volume for this platform. 

In the last quarter of 2018, the institutional trading volume stood at $5 billion. The following year, it rose slightly to $9 billion. By 2020, Coinbase saw tremendous growth. The institutional trading volume grew by more than five times and accounted for $57 billion. 

Coinbase believes that the institutional trading volume will continue to rise over the years. This is because people have started attributing cryptocurrency as a lucrative investment option.

Retail Trading Volume

Individual investors do retail trading. Instead of depending upon a group fund, these traders make and manage investments into their portfolios. In the last quarter of 2018, the retail trading volume stood at $8 billion. 

However, as governments applied more and more restrictions on crypto in 2019, people’s trust dwindles a little. The retail trading volume for the last quarter of 2019 slightly dipped to $5 billion. Coinbase saw a growth in their retail trading in the previous quarter of 2020, which accounted for $32 billion. In the first quarter of 2021, Coinbase saw a retail trading volume of $120 billion.

The retail trading volume is projected to grow as more and more people start trusting digital assets’ value. This is attributed to the increase in interest of individual investors and the increase in the value of cryptocurrencies. Retail trading volume for Coinbase makes up about one-third of the total trading volume. 

24-Hour Peak Trading Volume

Peak trading volume at a cryptocurrency exchange platform refers to the number of digital assets traded within 24 hours. This section of Coinbase statistics will analyze the peak trading volume for this leading crypto exchange software.

The top trading volume that the company has ever reached was on January 11, 2021. Active investors traded over $9.5 billion worth of digital assets within 24 hours. This number was 58% higher than the last peak recorded. 

Coinbase v/s The Competition

The market of cryptocurrency is worth trillions of dollars. As the interest in digital assets has been growing over the years, many competitors are emerging in the market. Even though Coinbase is one of the first crypto exchange platforms, it is not the leading one. 

Binance cryptocurrency platform is the best crypto exchange platform in trade volume and revenue. The platform was started just five years ago and made an annual revenue of around $7.4 billion. Cash App is in the second spot, earning $6.2 billion yearly. 

Coinbase is the third-largest cryptocurrency trading platform earning around $4.03 billion in revenue from multiple sources. The platform is one of the leading crypto exchange tools in the United States. 

While Coinbase is a little behind its competitors, the executives plan to invest hundreds of millions of dollars into the platform. This will help make the tool more robust and secure. It will also help increase the market share in the digital asset industry. This will, in turn, see a growth in the company’s total revenue. 

Is Coinbase Profitable?

Coinbase is one of the most profitable platforms in the industry. It went public in the second quarter of 2021 and has brought higher returns than projected. This section of Coinbase statistics will analyze how profitable this leading crypto exchange platform is.

In 2017, Coinbase reported a profit of $380 million. The platform crashed with the competition rising and the regulatory laws surrounding the crypto market. The profit dipped to $30 million. 

Coinbase picked up its pace in 2020 and registered a profit of $322 million. On April 14, 2021, Coinbase went public. This allowed traders to publicly buy and sell shares of the company in the stock market. 

This crypto platform registered a profit of $2.36 billion in the first half of 2021. The shares that people bought in the first half started showing returns by the last quarter of 2021. 

The majority of Coinbase’s shareholders are based in the United States and so are their crypto traders. It is the leading crypto exchange platform in the US. As per the stock market, Coinbases’ s share was projected to go up by $2.33 by 2021’s second quarter. However, the platform beat the projection gain and rose to more than $3. 

Coinbase is the most profitable cryptocurrency platform worldwide, registering a profit of $3.6 billion in 2021. 

Takeaway

The Coinbase statistics displayed that this is one of the leading cryptocurrency exchanges in the world. Coinbase is prevalent mainly in the United States and not globally, despite being amongst the oldest trading platforms. However, it is the most profitable platform in the market. Coinbase has over 73 million registered users on its platform.

Coinbase and its executives plan to invest hundreds of millions of dollars towards its growth. They are actively looking to increase their market share and get the platform approved in multiple countries globally. Analyzing all these efforts and Coinbase statistics, the platform is set on a path to success in the coming years.