Coinbase Users, Revenue & Other Top Statistics: 2023 – 2024

Are you looking for the data on the number of Coinbase monthly active users over the years and months to analyze it? If so, then in this detailed study, we will cover Coinbase’s revenue, profits, and other key stats.

If you are from the US and love investing in crypto, then I am damn sure that you would have heard about Coinbase before reading this article, if you haven’t, then no worries as we have explained everything about it below.

As you will get all the latest and updated statistics on Coinbase in this article.

coinbase users and other top statistics

Coinbase Overview


Coinbase is one of the most popular online platforms for buying, selling, transferring, and exchanging cryptocurrencies.

Earlier it was limited to very few digital currencies, especially Bitcoin. But after a few years, the Bitcoin price skyrocketed. Other cryptocurrencies were also introduced into the market. The best thing about Coinbase is that it supports almost all the major cryptocurrencies available in the market.

In April month of 2021, the company went public which allowed the public to buy or sell Coinbase shares. Coinbase has the majority of assets and shareholders from the US, as in other regions like Asia, there are many more popular substitutes for Coinbase.

Have a look at some key stats on Coinbase in the next section.

Coinbase Key Statistics

Take a look at some of the key Coinbase stats.

  • Coinbase has more than 100 million verified users as of 2024.
  • The average monthly transacting users (MTUs) in 2023 were 7 million, which is a decrease of 1.3 million as compared to 2022.
  • The total revenue generated in 2023 was $3.2 billion, which is a slight decrease from the previous year’s $3.1 billion.
  • The total trading volume of 2023 is $468 billion, it was $830 billion in 2022.
  • However, the net income loss was only $95 million, which is quite low compared to 2022’s $2,625 million.
  • Bitcoin is the highest-traded cryptocurrency by volume, taking up to 34% of all trades, followed by Ethereum at 20%.

Coinbase Users

As of the third quarter of 2023, the total verified users of Coinbase are 98 million which was 89 million at the end of the year 2021. There is a significant increase of 9 million users and that’s huge!

However, you should clearly understand that there is a difference between the verified users and the users that are actually transacting, whose numbers we have shown in the next sections below.

According to the company, the term verified user is addressed to those users who have signed up at Coinbase and have confirmed their email address and phone number.

Although there is a slump in the Crypto market these days, we still expect Coinbase users to cross the 100 Million mark in 2024.

Coinbase Verified Users: Annual Report

The graph below shows the number of verified or registered users since 2014 which is of the last 10 years (including the current year). The company achieved the benchmark of 1 million registered users in 2014.

Coinbase users verified annual report
Source: Coinbase Filings.

The greatest jump in verified users was seen between the years 2020 and 2021 as it saw an increase of 46 million users in a single year. The primary reason behind this hike was the fluctuation (or sudden spike) in Bitcoin and several other cryptocurrencies, which led to a major craze for Crypto in the world.

Coinbase Users: Quarterly Report

The image below is the data representation of the increase in the number of verified users every three months.

YearVerified Users
Q1 201823 million
Q2 201824 million
Q3 201825 million
Q4 201826 million
Q1 201927 million
Q2 201929 million
Q3 201931 million
Q4 201932 million
Q1 202034 million
Q2 202037 million
Q3 202039 million
Q4 202043 million
Q1 202156 million
Q2 202168 million
Q3 202173 million
Q4 202189 million
Q1 202298 million
Q2 2022103 million
Q3 2022108 million
Q4 2022110 million

Note: the data shown for the year 2022 in both annual and quarterly reports are till March 2022 and it will be updated by the company every 3 months.

YearVerified Users
201932 million
202043 million
202189 million
2022110 million
2023Not Disclosed

Coinbase Monthly Active Users

The number of monthly active users when compared with the number of verified users is quite low which is obvious for any platform.

You should not be confused between monthly active users and monthly transacting users as both are the same. The company uses the term monthly transacting users while showing the data in their reports.

The point of attention is that Coinbase considers the 28-day period in any month while calculating the data.

Before knowing the data of Coinbase monthly transacting users first you should understand what it is and the criteria that describe it. All these points are discussed in short in the sub-section below.

Coinbase Monthly Transacting Users (MTU)

The company considers the user as active or counts the accounts in the monthly transacting users who transact more than once in a period of 28 days. That means if a user has done a transaction last month and does not transact this month then he will not be counted in ‘monthly transacting users’ data for this month.

From the above discussion, many accounts that are actively holding any cryptocurrencies are considered inactive accounts or non-transacting users.

MTU: Quarterly Report

Data on the number of monthly transacting users (MTU) is presented at the end of each quarter of the year and it is the average of three months that lie that quarter.

The table below is the MTU data from the 1st quarter of 2018 to the recent quarter of 2023.

YearMonthly Transacting Users (MTUs)
Q1 20182.7 million
Q2 20181.2 million
Q3 2018900 thousand
Q4 2018900 thousand
Q1 2019800 thousand
Q2 20191.3 million
Q3 20191.2 million
Q4 20191 million
Q1 20201.4 million
Q2 20201.5 million
Q3 20202.1 million
Q4 20202.8 million
Q1 20216.2 million
Q2 20218.8 million
Q3 20217.3 million
Q4 202111.4 million
Q1 20229.2 million
Q2 20229.0 million
Q3 20228.5 million
Q4 20228.3 million
Q1 20238.4 million
Q2 20236.8 million
Q3 20236.9 million
Q4 20237.0 million
Quarterly Chart

In the first Quarter of 2022, the number of monthly transacting users was 9.2 million while in the first quarter of 2023, it was 8.4 million. So, there was a change (decrease) of 8.69% in monthly transacting users between two successive quarters.

MTU: Annual Report

In the annual reports, the number of MTUs is calculated by taking the average of all 12 months or MTU of four quarters of the year.

The table below shows the average annual monthly transacting users from the year 2018 to 2023.

20180.7 million
20191.1 million
20202.8 million
202111.2 million
20228.3 million
20237.0 million

Total Trading Volume for 2023 was $468 billion which is a substantial decrease from $830 billion in 2022 and $1,671 billion in 2021 respectively.

However, the Net income loss was only $95 million in 2023, compared to $2,625 million and $3,624 million in 2022 and 2021 respectively.

Other Coinbase Statistics

Till now you have got the usage statistics of Coinbase, now it’s time to take a look at some other statistics of the company which are discussed below.

Coinbase Valuation

Coinbase had already crossed the benchmark of billion-dollar valuation, that too way back in the year 2017.

Coinbase valuation fluctuated quite a lot in 2023, starting the year with a valuation of $75 billion, it then decreased to $40 billion by the end of Q2 2023, and dipped even further down to $28 billion by the end of 2023.

The table below has the data of Coinbase valuation for the last 5 years along with the current year (till the date this article was updated).

2017$1.6 billion
2018$8 billion
2020$28 billion
2021$65 billion
2022$75 billion
2023$28 billion

The valuation of the company depends on the price and number of its shares. When Coinbase was first listed public in 2021, the price of each share was $250 and there were around 260 million shares that brought its valuation to $65 billion.

Before listing in IPO, it was valued at $100 billion by private investors.

Coinbase Revenue

Coinbase generates substantially all of its total revenue from transaction fees in the platform in connection with the buying, selling, and trading of cryptocurrencies.

Check the data below for the yearly revenue of Coinbase.

2017$927 million
2018$520 million
2019$483 million
2020$1.28 billion
2021$7.84 billion
2022$3.2 billion
2023$3.1 billion

Coinbase Profit

Profit and loss depend on the market and the value of assets hence it can be sometimes profitable and also unprofitable in the adverse conditions of the market.

  • In 2017, the company earned a profit of $380 million.
  • In 2018, the company suffered a loss of around $55 million.
  • In 2019, the company suffered a loss of around $30 million.
  • In 2020, it bounced back by earning a huge profit of $322 million.
  • 2021 was the best performing year for Coinbase, as it earned the highest profit of $771 million.
  • In 2022, the company suffered a loss of $2.6 million.
  • In 2023, Coinbase earned a profit of $95 million.
2017$380 million
2018($55 million)
2019($30 million)
2020$322 million
2021$771 million
2022(2.6 million)
2023$95 million
*The bracket represents the losses.

Note: Coinbase suffered losses in the first three quarters of 2023 but ended up earning a profit of $273 million in Q4 2023, therefore the overall profit for 2023 ended up being $95 million.

FAQs: Coinbase Usage Statistics

1. How many users have Coinbase?

Coinbase has 110 million verified users out of which 7 million-plus are monthly transacting users.

2. Is Robinhood better than Coinbase?

We prefer Coinbase more than Robinhood as it has a better user interface for cryptocurrencies.

3. How much is Coinbase worth in 2024?

The current valuation of Coinbase is more than $28 billion.

4. What are the top competitors of Coinbase?

Binance, Cash App, and eToro are the top competitors of Coinbase.

5. How many assets does Coinbase have under management?

Now in 2024, it has around $114 billion of crypto assets. Among all, Bitcoin and Ethereum are the most held crypto assets in Coinbase.

Conclusion: Coinbase Users And Other Statistics

All the statistics of users of Coinbase and other finance-related data are taken from the most recent annual and quarterly reports that are released by the company Coinbase. Few data may turn inaccurate at the time you read this article as the company regularly updates the statistics in case, they did any unintentional misinterpretation.

Coinbase is one of the top crypto management and trading platform. Recently it became the first crypto company to be included in the list “Fortune 500”.

About Author: Vishesh Gupta

blogger and creator of website, Web Hosting Reviewer, SEO and Digital marketing expert
Blogger and Creator of

Seasoned Professional with 15 years of experience in Sales and Marketing. Entrepreneur, Consultant and Blogger helping people earn through jobs and blogging. Experienced Hosting Reviewer who likes to collect detailed info about existing players and share it with my audience. Previously worked with leading Banks and Telecom Companies.

I completed my Masters in Management with specialization in Finance and Marketing.

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