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 has led to a steady decline in value throughout 2022.
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 1 | Title 2 |
|---|---|
| Launch date | June 2012 |
| HQ | San Francisco, California |
| People | Brian Armstrong (CEO, co-founder), Emilie Choi (COO) |
| Industry | Cryptocurrency |
| Company type | Private |
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 ($mm)
| Year | Revenue ($bn) |
|---|---|
| 2017 | 0.9 |
| 2018 | 0.5 |
| 2019 | 0.5 |
| 2020 | 1.2 |
| 2021 | 7.8 |
| 2022 | 3.1 |
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)
| Year | Net income ($mm) |
|---|---|
| 2017 | 380 |
| 2018 | -55 |
| 2019 | -30 |
| 2020 | 108 |
| 2021 | 3097 |
| 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)
| Year | Users (mm) |
|---|---|
| 2014 | 1 |
| 2015 | 2 |
| 2016 | 5 |
| 2017 | 13 |
| 2018 | 22 |
| 2019 | 30 |
| 2020 | 35 |
| 2021 | 56 |
| 2022 | 98 |
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)
| Year | MAUs (mm) |
|---|---|
| 2018 | 0.7 |
| 2019 | 1 |
| 2020 | 2.8 |
| 2021 | 8.8 |
| 2022 | 9 |
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)
| Year | Valuation ($bn) |
|---|---|
| 2017 | 1.6 |
| 2018 | 8 |
| 2020 | 28 |
| 2021 | 65 |
| 2022 | 18 |
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)
| Year | Assets under management ($bn) |
|---|---|
| 2018 | 11 |
| 2019 | 18 |
| 2020 | 36 |
| 2021 | 223 |
| 2022 | 80 |
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)
| Year | Transaction volume ($bn) |
|---|---|
| 2017 | 135 |
| 2018 | 105 |
| 2019 | 130 |
| 2020 | 195 |
| 2021 | 1650 |
| 2022 | 830 |
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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