With over 89 million verified users as of early 2023, Coinbase has cemented its position as one of the world’s most trusted and widely used cryptocurrency platforms. As digital asset adoption continues to accelerate globally, investors are increasingly turning to accessible, secure exchanges — and Coinbase leads the pack.
But what does this massive user base really look like? Who uses Coinbase, how active are they, and what drives such rapid growth? In this data-driven analysis, we’ll explore the latest verified statistics on Coinbase’s user base, engagement trends, demographics, geographic reach, and platform trust factors — all while uncovering what makes it a top choice for both beginners and experienced crypto investors.
Rapid Growth in Verified Users
Coinbase’s rise from startup to crypto powerhouse has been nothing short of extraordinary. Here's a breakdown of its verified user growth over time:
- 2013–2017: Grew from 500,000 to 13 million users
- End of 2020: Reached 43 million verified users
- Q3 2021: Expanded to 68 million verified users
- January 2023: Surpassed 89 million verified users
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What’s most striking is the acceleration in growth. It took five years to reach 13 million users — but less than three years to nearly triple that number. This surge aligns with broader trends in mainstream cryptocurrency adoption, especially during periods of heightened interest like the 2021 bull run and increased institutional involvement.
Beyond sheer numbers, user activity is also rising. According to Coinbase’s Q3 2021 shareholder letter, the average number of monthly transactions per user increased from 2.8 in Q3 2020 to 5.1 in Q3 2021 — a near doubling in just one year. This indicates not just more users, but more active participation.
Who Uses Coinbase? Demographics Revealed
Understanding user demographics helps paint a clearer picture of who drives Coinbase’s success.
Based on a 2022 CNBC survey and other industry reports:
- Gender: Approximately 71% male, 29% female
- Age: Around 46% are aged 18–34, with some estimates suggesting up to 50% of users fall into this range
- Income: Over half (56%) earn under $100,000 annually
Among male crypto investors specifically, 43% are between 18 and 29 years old, highlighting strong youth engagement.
This data reveals a core user profile: primarily millennial and Gen Z males with moderate incomes who are tech-savvy and open to new financial technologies. While gender diversity remains an area for improvement, the nearly 30% female participation rate is encouraging compared to earlier years in the crypto space.
These younger users often start small — buying $10–$50 worth of Bitcoin or Ethereum — but gradually build diversified portfolios as they gain confidence.
Average Crypto Holdings: Over $5,000 Per User
As of Q3 2021, the average retail user on Coinbase held approximately $5,482** in cryptocurrency assets. This figure varies by region — typically ranging from **$1,000 to $10,000 depending on local market conditions and purchasing power.
With over 89 million users, this implies that retail customers collectively store more than $480 billion in crypto on the platform — a staggering amount that underscores Coinbase’s role as a major custodian of digital wealth.
Keep in mind:
- Active traders may hold significantly higher balances.
- New users often begin with small investments before scaling up.
- Institutional holdings (separate from retail) further increase total assets under custody.
The fact that so many users maintain meaningful balances reflects growing confidence in crypto as a long-term investment vehicle — and trust in Coinbase as a secure storage solution.
Geographic Reach: U.S.-Centric, But Expanding Globally
While Coinbase operates in over 100 countries, the majority of its user base is concentrated in the United States.
- Approximately 68% of retail users are from the U.S.
- The next largest markets include Western Europe and parts of Asia
- International expansion has been aggressive — supported countries grew by over 700% between 2020 and 2021
This global push allows more people around the world to access fiat-to-crypto onramps, educational tools, and compliant trading environments. For many users outside traditional financial hubs, Coinbase serves as their first legitimate entry point into digital finance.
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As regulations evolve and localization improves (such as language support and local currency pairs), expect international markets to play an increasingly significant role in future user growth.
Why Users Choose Coinbase Despite High Fees
One common critique of Coinbase is its relatively high fees:
- Standard buy/sell fees in the U.S. range from 1.49% to 3.99%, depending on payment method and transaction size
- These are higher than many competitors like Kraken or Binance
Yet millions continue choosing Coinbase. Why?
Key reasons include:
- Trust and security: Funds are insured, and most assets are stored in cold wallets
- User-friendly interface: Ideal for beginners navigating crypto for the first time
- Regulatory compliance: Licensed in multiple jurisdictions, offering peace of mind
- Educational resources: Earn program teaches users about tokens through interactive lessons
- Fiat onramps: Easy bank transfers, debit card purchases, and Apple Pay integration
For many, paying a premium fee is worth avoiding complexity and risk. Once users become more advanced, some migrate to Coinbase Pro for lower fees and enhanced trading tools — but the main app remains popular for simplicity.
Customer Support: Progress Made, But Challenges Remain
A frequent pain point reported by users is slow customer support response times.
Historically, wait periods stretched into weeks, especially during peak market volatility. However, Coinbase has taken steps to improve:
- Increased support staff by 5x in 2021
- Reduced average wait times from 1–2 weeks (early 2021) to 1–2 days (late 2022) for most issues
While not yet real-time, these improvements show commitment to scaling operations alongside user growth. Continued investment in AI chatbots, self-service tools, and regional support centers will be crucial as the platform expands.
Frequently Asked Questions (FAQ)
How many active users does Coinbase have?
While total verified users exceed 89 million, active user counts fluctuate with market conditions. In Q3 2021, Coinbase reported over 9 million monthly transacting users (MTUs) — a key metric tracking actual engagement.
Is Coinbase safe for storing cryptocurrency?
Yes. Coinbase uses industry-standard security practices including offline (cold) storage for 98% of assets, encryption, and crime insurance covering custodial holdings. However, using a personal hardware wallet offers even greater control.
Can non-U.S. residents use Coinbase?
Yes. Coinbase is available in over 100 countries, though service availability and supported cryptocurrencies vary by region due to regulatory requirements.
What’s the difference between Coinbase and Coinbase Pro?
Coinbase is designed for beginners with a simple interface and higher fees. Coinbase Pro offers advanced trading features, order types, and lower fees for experienced traders.
How does Coinbase make money?
Coinbase earns revenue primarily through transaction fees on trades, spreads on conversions, subscription services (like Prime), and interest income from lending programs.
Will Coinbase reach 100 million users?
Given current growth trends — adding tens of millions of users every few years — reaching 100 million+ verified users is highly likely within the next few years, assuming sustained market interest and regulatory stability.
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Coinbase’s journey from niche startup to global leader reflects the broader maturation of the cryptocurrency ecosystem. With a young, engaged user base, increasing transaction volumes, and expanding international access, it remains at the forefront of bringing digital assets to everyday investors.
As we move toward 2025 and beyond, expect continued innovation — from staking rewards to Web3 integrations — that will further solidify its role in shaping the future of finance.