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. In the two years after, the company managed less than 60 percent of that, due to the value of Bitcoin dropping and remaining at a steady rate.
Coinbase also 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 is having 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. As part of this new surge in Bitcoin price, Coinbase had its most successful quarter, generating $585 million of the $1.14 billion in Q4 2020.
This may be why the startup is planning to IPO this year, to make most of the current hype surrounding Bitcoin and cryptocurrency trading.
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 has 43 million users worldwide and over 2.8 million people actively exchange every month
- Coinbase generated over $1 billion in revenue in 2020, a 136 percent increase on 2019
- It also generated $322 million in net profit, the first time it made a yearly profit since 2017
- Coinbase significantly increased its assets under management in 2020, from $35 to $223 billion
|Launch date||June 2012|
|HQ||San Francisco, California|
|People||Brian Armstrong (CEO, co-founder), Emilie Choi (COO)|
|Q1 2021||$1800 million|
Sources: Coinbase, Reuters
Note: 50 percent of Coinbase revenue in 2017 came during December, when the price of Bitcoin rose from $6,540 to $14,782.
|Q1 2021||$765 million|
Note: 2018 and 2019 values are estimated based on Coinbase statements and analyst projections.
Source: Altana Digital Currency Fund, Coinbase
Coinbase monthly active users
Note: Accounts that make more than one transaction per month. Many accounts may be considered inactive, but have investors actively holding Bitcoin and other cryptocurrencies.
Note: Coinbase set a direct listing price of $250 a share, valuing the company at least $65 billion. Shares were reportedly being traded at a valuation of $100 billion on private markets pre-IPO.
Coinbase assets under management
|Year||Assets under management|
Coinbase total transaction volume
|Year||Total transaction volume|
|Q1 2021||$335 billion|
Coinbase integrated apps
Coinbase vs Binance: assets under management
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