Coinbase remains one of the most influential players in the cryptocurrency industry, serving millions of users worldwide. As digital asset adoption accelerates, understanding key metrics such as user growth, revenue streams, market share, and institutional adoption becomes essential for investors, traders, and crypto enthusiasts alike.
This comprehensive analysis dives deep into the latest available data on Coinbase—covering user statistics, financial performance, asset management, trading volume, and more. All figures are updated through 2024 based on public filings, quarterly reports, and credible industry sources.
How Many Users Does Coinbase Have?
As of 2021, Coinbase reported 73 million verified users, making it the largest cryptocurrency exchange in the United States by user base. While official figures beyond 2021 have not been publicly disclosed in detail, growth trends suggest continued expansion into international markets and deeper retail penetration.
Historical User Growth (2014–2021)
| Year | Total 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 |
This exponential growth reflects rising global interest in cryptocurrencies, increased regulatory clarity, and Coinbase’s aggressive marketing and product development.
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Monthly Active Users (MAUs)
Monthly active users (MAUs) are defined as individuals who make at least one transaction per month—buying, selling, or swapping crypto.
- 8.8 million MAUs in 2021
- Up from 2.8 million in 2020 — a more than 300% year-over-year increase
Additionally, 6.1 million users conduct at least one transaction monthly, indicating strong engagement among a core segment of the user base.
MAU Growth Over Time
| Year | Monthly Active Users |
|---|---|
| 2018 | 0.7 million |
| 2019 | 1 million |
| 2020 | 2.8 million |
| 2021 | 8.8 million |
The surge in activity correlates with the crypto bull run of 2020–2021, the launch of new features like staking and NFTs, and the company's public listing in April 2021.
Coinbase Revenue and Profitability
Coinbase has proven to be one of the most profitable crypto-native companies globally.
Annual Revenue (2016–2021)
| Year | Revenue |
|---|---|
| 2016 | $16 million |
| 2017 | $927 million |
| 2018 | $520 million |
| 2019 | $483 million |
| 2020 | $1.14 billion |
| 2021 | $4.03 billion |
Revenue spiked in 2021 due to heightened trading volumes during the market rally. Transaction fees accounted for nearly 86% of total revenue, highlighting the platform’s reliance on trading activity.
In Q2 2021 alone, transaction revenue reached $1.9 billion, marking the second-highest quarterly figure in company history—even amid falling Bitcoin prices.
Subscription & Service Revenue
Beyond trading fees, Coinbase generates income through subscription-based services:
- $44.99 million in subscription revenue in 2020
- Over $100 million reported in Q2 2021
Key offerings include:
- Coinbase Pro: Lower-fee trading tier for advanced users
- Coinbase Prime: Institutional-grade custody and analytics
- Staking services: Earn rewards by locking up assets like ETH and ADA
These services provide recurring revenue, helping stabilize earnings during volatile market periods.
Is Coinbase Profitable?
Yes—despite fluctuations, Coinbase is highly profitable during bull cycles.
Net Profit by Year
| Year | Net Profit/Loss |
|---|---|
| 2017 | $380 million |
| 2018 | ($55 million) loss |
| 2019 | ($30 million) loss |
| 2020 | $322 million |
| H1 2021 | $2.36 billion |
The massive profit surge in early 2021 was driven by record trading volume and increased user onboarding. Although losses were recorded in 2018 and 2019 due to declining crypto prices, the company rebounded strongly.
Coinbase Valuation and Market Position
Coinbase went public via a direct listing on April 14, 2021, on the NASDAQ under the ticker COIN.
- Initial share price: $250
- Market cap at IPO: $65 billion
- Peak private valuation estimate: $100 billion
Company Valuation Timeline
| Year | Valuation |
|---|---|
| 2017 | $1.6 billion |
| 2018 | $8 billion |
| 2020 | $28 billion |
| 2021 | $65 billion |
As a publicly traded company, Coinbase offers transparency and investor access rare among crypto firms. Its dominance in the U.S. market solidifies its position as a bellwether for mainstream crypto adoption.
Assets Under Management (AUM)
Assets under management reflect the total value of crypto held across all user accounts.
AUM Growth (2018–2021)
| Year | AUM |
|---|---|
| 2018 | $11 billion |
| 2019 | $18 billion |
| 2020 | $36 billion |
| 2021 | $223 billion |
This sixfold increase between 2020 and 2021 underscores growing trust in Coinbase as a secure custodian of digital assets.
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Supported Cryptocurrencies
Diversification is key to long-term platform success. Coinbase supports a wide range of assets:
- 108 cryptocurrencies supported as of December 2021
- Includes Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Dogecoin (DOGE), Cardano (ADA), Polygon (MATIC), and more
- Full support for ERC-20 tokens via Coinbase Wallet
Crypto Asset Growth
| Date | Number of Assets |
|---|---|
| Dec 2019 | 40 |
| Dec 2020 | 90 |
| Dec 2021 | 108 |
The platform continues to expand its offerings, with plans to integrate decentralized finance (DeFi) protocols and layer-2 solutions.
Most Held & Traded Cryptocurrencies
Top Holdings by Market Share
| Asset | Share of Holdings |
|---|---|
| Bitcoin (BTC) | 70% |
| Ethereum (ETH) | 13% |
| Other Cryptos | 13% |
| Fiat Currency | 4% |
Together, Bitcoin and Ethereum represent 83% of all holdings on Coinbase—reflecting their status as foundational assets in the crypto ecosystem.
Most Traded Currencies (by Volume)
In 2020:
- Bitcoin: 41% of trading volume
- Ethereum: 15%
- Other cryptos: Combined 44%
Popular altcoins gaining traction include:
- Shiba Inu (SHIB): High-volume micro-cap token
- NuCypher (NU): Privacy-focused DeFi network
- Polygon (MATIC): Ethereum scaling solution
Bitcoin consistently leads trading activity due to its liquidity and market dominance.
Average Deposit Size and User Behavior
According to Earnest Research:
- Average deposit size: $529 (as of February 2021)
- Peak average: $560 in January 2021
While this data is from early 2021, current trends suggest smaller but more frequent deposits as users adopt dollar-cost averaging strategies.
The average user holds slightly over **$5,000 worth of cryptocurrency**, though wealth distribution is skewed—many users hold under $5,000, while a small fraction controls significantly larger balances.
Market Share of Crypto Capitalization
Coinbase holds approximately 11.3% of total crypto market capitalization across its platform—a significant share considering global competition.
Market Share Growth
| Year | Share of Crypto Market Cap |
|---|---|
| 2018 | 4.5% |
| 2019 | 8.3% |
| 2020 | 11.1% |
| 2021 | 11.3% |
Although Binance dominates globally in trading volume, Coinbase leads in the U.S. and maintains strong compliance standards that appeal to institutional clients.
Institutional Adoption on Coinbase
Institutional demand has surged in recent years:
- Over 8,000 institutional clients as of Q1 2021
- Includes hedge funds, corporations, family offices, and ETF issuers
- Assets held by institutions: **$122 billion** (Q1 2021), up from $45 billion in Q4 2020
Institutional Trading Volume
- Q4 2020: $57 billion
- Institutional trades accounted for 64.05% of total volume
Quarterly institutional volume grew fivefold between Q1 2018 ($11B) and Q4 2020 ($57B), signaling growing confidence from professional investors.
Coinbase Prime offers tailored tools including:
- Cold storage vaults
- Advanced analytics
- API integration
- OTC desk services
Retail Trading Volume Trends
Retail investors remain a vital part of Coinbase’s ecosystem.
- Q4 2020 retail volume: $32 billion
- Represented 35.95% of total trading volume
Despite lower percentages compared to institutional activity, retail saw explosive growth post-IPO:
- Q1 2021 retail volume: $120 billion
- Total platform volume: $335 billion
Retail participation surged due to increased media attention, social investing trends, and accessible mobile apps.
Workforce and Company Culture
Coinbase employs over 2,100 people globally across engineering, product, legal, finance, customer support, and marketing roles.
- Rated 4.3 out of 5 on Glassdoor
- Over twenty job categories actively hiring
- Remote-first culture with global teams
Its focus on innovation, compliance, and user experience drives continuous platform improvement.
Frequently Asked Questions
How many countries does Coinbase operate in?
Coinbase is available in over 100 countries across six continents: North America, South America, Europe, Asia, Africa, and Oceania. Users can check regional availability directly through the website.
What is the average age of a Coinbase user?
Coinbase does not release official demographic data for privacy reasons. However, industry analysis suggests the average crypto investor is around 38 years old, younger than traditional stock market participants (average age ~47).
How much crypto does the average user own?
Based on $223 billion in assets managed across ~43 million active users, the average balance is slightly over **$5,000**. However, actual ownership varies widely—many hold small amounts while a minority hold large positions.
What was Coinbase’s peak trading volume?
The highest single-day trading volume occurred on January 11, 2021, when over $9.5 billion was traded—58% higher than any previous day.
Does Coinbase accept fiat currency?
Yes. Users can deposit USD, EUR, GBP, and other fiat currencies via bank transfer, debit card, or wire. The platform also offers a Visa debit card linked to user balances for spending crypto directly.
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Final Thoughts
Coinbase stands at the forefront of the digital asset revolution. With over 73 million users, billions in revenue, and deep institutional integration, it plays a pivotal role in bridging traditional finance with blockchain technology.
While facing increasing global competition and regulatory scrutiny, its transparent operations, strong compliance framework, and innovative product roadmap position it well for long-term growth.
Whether you're a beginner exploring your first Bitcoin purchase or an institution managing billions in digital assets, understanding Coinbase's metrics provides valuable insight into the broader crypto landscape.