Coinbase Revenue and Usage Statistics (2024)

David Curry

Updated: January 17, 2024

Coinbase has led the way for cryptocurrency since its inception in 2012, as the largest exchange in the United States by volume. 

While known primarily as an exchange and storage service for Bitcoin, Coinbase also offers a wide range of other crypto and fiat currency exchanges. 

In a time before Bitcoin ballooned in value, Coinbase integrated its payment processing capabilities into Stripe, Braintree and PayPal, alongside merchant partnerships with Dell, Expedia and Time Inc.

2017 was seen as a pivotal point for cryptocurrencies and Coinbase, which added several new coins to the exchange and reached almost $1 billion in revenue.

Coinbase has suffered from a number of allegations, including overcharging customers for trades and not making currency available on time. It also was forced to give details of traders which owned high amounts of cryptocurrency in the United States to the IRS. 

Cryptocurrency had another moment in 2021, with Bitcoin’s price skyrocketing from $5,500-$7,500 for most of 2020 to a peak of $40,027 on 19 February. That declined significantly in 2022 with Bitcoin and the entire cryptocurrency value dropping heavily. 

Coinbase went public in 2021 but its own value has become somewhat tied to Bitcoin’s price, which led to a heavy decline in value in 2022. Fortunes have started to turn around in 2023, with Bitcoin’s price increasing slowly throughout the year.

In terms of rivals, Coinbase is not the largest cryptocurrency exchange in the world and is considered to be more for amateur traders. Binance, founded in 2017, has higher trading volume worldwide, mostly from Asian trading. 

Coinbase faces competition on the amateur-side from Square’s Cash App and Robinhood in the US, which both offer cryptocurrency trading. In Europe, Revolut has started offering similar exchange services.

We have collected data and statistics on Coinbase. Read on below to find out more.

Coinbase key statistics

  • Coinbase generated $3.1 billion in 2022, a 59.2% decline from 2021
  • Coinbase has 98 million users worldwide and nine million people actively exchange every month
  • It also generated annual net loss of $2.6 billion in 2022
  • Coinbase total assets for 2022 were $89.7 billion, a 321.75% increase from 2021

Coinbase overview

Title 1Title 2
Launch dateJune 2012
HQSan Francisco, California
PeopleBrian Armstrong (CEO, co-founder), Emilie Choi (COO)
IndustryCryptocurrency
Company typePrivate

Coinbase revenue

Coinbase revenue declined in 2022, from $7.8 billion in 2021 to $3.1 billion in 2022, a 59.2% decline.

Coinbase quarterly revenue 2020 to 2022 ($mm)

Coinbase annual revenue 2017 to 2022 ($mm)

YearRevenue ($bn)
20170.9
20180.5
20190.5
20201.2
20217.8
20223.1

Sources: Company data, Reuters

Coinbase profit

Coinbase lost $2.6 billion in 2022, a huge swing for the company which reported $3 billion in net profit the previous year.

Coinbase annual net income 2017 to 2022 ($mm)

YearNet income ($mm)
2017380
2018-55
2019-30
2020108
20213097
2022-2625

Source: Company data

Coinbase users

Coinbase reported 98 million registered users in early 2022, a 42 million increase on the same time last year, although most were added in 2021.

Coinbase annual users 2014 to 2022 (mm)

YearUsers (mm)
20141
20152
20165
201713
201822
201930
202035
202156
202298

Sources: Altana Digital Currency Fund, Company data

Coinbase monthly active users

Nine million users were active more than once a month on Coinbase in 2022, a slight increase on the 8.8 million active in 2021.

Coinbase monthly active users 2018 to 2022 (mm)

YearMAUs (mm)
20180.7
20191
20202.8
20218.8
20229

Source: Company data

Coinbase valuation

Coinbase was valued at around $18 billion at its IPO, but that value has dropped  significantly to less than its 2021 private valuation.

Coinbase valuation 2017 to 2022 ($bn)

YearValuation ($bn)
20171.6
20188
202028
202165
202218

Note: 2022 market cap as of June 20. Sources: CNBC, Messari, TechCrunch 

Coinbase assets under management

Coinbase total assets under management more than halved in 2022 from $223 billion in 2021 to $80 billion.

Coinbase annual assets under management  2018 to 2022 ($bn)

YearAssets under management ($bn)
201811
201918
202036
2021223
202280

Source: Company data

Coinbase transaction volume

Coinbase annual transaction volume declined from $1.6 trillion in 2021 to $830 billion in 2022.

Coinbase annual transaction volume 2017 to 2022 ($bn)

YearTransaction volume ($bn)
2017135
2018105
2019130
2020195
20211650
2022830

Source: Company data

Coinbase vs competitors: revenue

Want to learn more? Read our cryptocurrency exchange sector profile

Coinbase FAQ

What is Coinbase 24 hour peak trading volume?

On January 11, 2021, Coinbase reached $9.56 billion in exchange volume, 57.9 percent higher than the previous peak (Block Crypto)

How many merchants accept Coinbase Bitcoin payments? 

Over 8000 merchants accept Coinbase. It has also launched its own Visa debit card in Europe and US

How many countries is Coinbase available in?

Coinbase is available in over 100 countries and has over 115,000 ecosystem partners

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