With over 89 million verified users as of early 2023, Coinbase has cemented its position as one of the most widely used cryptocurrency platforms in the world. As digital asset adoption accelerates, understanding who uses Coinbase—and how—provides valuable insights into the broader crypto landscape.
This article explores the latest statistics on Coinbase's user base, demographic trends, average holdings, global reach, and platform appeal. Whether you're a new investor or a seasoned trader, this breakdown reveals what drives millions to choose Coinbase as their primary gateway to crypto.
Rapid Growth in Verified Users
Coinbase's journey from a startup to a crypto powerhouse reflects the explosive growth of the entire blockchain ecosystem. The platform’s user base has expanded at an accelerating rate:
- 2013–2017: Grew from 500,000 to 13 million users
- End of 2020: Reached 43 million verified users
- Q3 2021: Increased to 68 million verified users
- January 2023: Surpassed 89 million verified users
This trajectory shows a major shift: it took five years to reach 13 million users, but less than three years to more than double that number twice over. The surge aligns with rising mainstream interest in cryptocurrencies, fueled by events like the 2021 bull run, NFT mania, and growing institutional investment.
Beyond just user numbers, engagement is also increasing. According to Coinbase’s Q3 2021 shareholder letter, the average number of monthly transactions per user rose from 2.8 in Q3 2020 to 5.1 in Q3 2021—a near doubling in activity within a year. This indicates users aren’t just signing up; they’re actively trading and managing their digital assets.
👉 Discover how top platforms are shaping the future of digital finance.
Who Uses Coinbase? Key Demographics
While Coinbase serves a global audience, certain demographic patterns stand out:
Age: Millennials and Gen Z Dominate
A 2022 CNBC survey found that 46% of crypto investors are between 18 and 34 years old, with another source suggesting this group makes up around 50% of Coinbase’s user base. Among male investors, 43% are aged 18–29, indicating strong appeal among younger generations.
This trend makes sense—digital natives are more comfortable with online financial tools and early adopters of new technologies. Coinbase’s intuitive interface and educational resources further lower the barrier for entry.
Gender: Predominantly Male, But Gaining Diversity
The crypto space remains male-dominated. On Coinbase, approximately 71% of users are male, while 29% are female. While there’s room for improvement, the nearly one-third female participation is a positive sign of increasing inclusivity in decentralized finance.
Income: Broad Accessibility Across Income Levels
Over half (56%) of crypto investors earn less than $100,000 annually, showing that cryptocurrency isn’t just for the wealthy. Coinbase supports small-dollar purchases (as low as $2), making it accessible even for budget-conscious investors.
Average Crypto Holdings on Coinbase
As of Q3 2021, the **average retail user held approximately $5,482 in crypto assets** on Coinbase. While this varies by region—ranging from roughly $1,000 to $10,000—it underscores that many users treat Coinbase as a serious investment platform rather than a speculative playground.
With 89 million users, this implies that retail investors collectively store over $480 billion in digital assets on the platform—excluding institutional holdings. That level of trust speaks volumes about Coinbase’s reputation for security and reliability.
New users often start with small amounts before gradually increasing their portfolios. Active traders may transfer funds to Coinbase Pro for lower fees and advanced tools, but the main app remains popular for its simplicity and seamless onboarding.
Geographic Distribution: U.S.-Centric but Expanding Globally
Coinbase operates in over 100 countries, yet its user base is still heavily concentrated in the United States:
- 68% of retail users are from the U.S.
- Major international markets include Europe and Asia
- Supported countries grew by over 700% from 2020 to 2021
This international expansion is crucial for long-term growth. By entering emerging markets and supporting local payment methods, Coinbase enables more people worldwide to access the crypto economy—especially in regions with underbanked populations.
👉 See how global access to digital assets is transforming financial inclusion.
Why Users Choose Coinbase Despite Higher Fees
One common criticism of Coinbase is its relatively high transaction fees:
- Standard buy/sell fees range from 1.49% to 3.99% in the U.S.
- These are higher than competitors like Kraken or Binance
Yet millions continue to use Coinbase because it prioritizes:
- Security: Funds are insured and stored securely
- Ease of use: Simple interface ideal for beginners
- Regulatory compliance: Operates transparently under U.S. laws
- Educational content: Earn program rewards users for learning
For many, especially first-time investors, peace of mind outweighs cost concerns. Once users become more experienced, some migrate to lower-fee platforms—but often keep Coinbase as a trusted backup or onramp for converting fiat to crypto.
Customer Support: Progress Amid Challenges
Rapid growth has strained Coinbase’s customer support system. In early 2021, users reported wait times of 1–2 weeks for responses. However, the company has made significant improvements:
- Expanded support staff by 5x in 2021
- Reduced average wait times to 1–2 days by late 2022
While not perfect, these efforts show a commitment to scaling support infrastructure alongside user growth. Continued investment in AI-driven help systems and multilingual support will be key as the platform expands globally.
Trust, Simplicity, and Mainstream Adoption
Coinbase has succeeded by making cryptocurrency accessible to everyday people. Its combination of:
- Intuitive design
- Strong security practices
- Regulatory transparency
- Fiat onramps (bank transfers, debit cards)
...has made it the go-to platform for newcomers navigating the complex world of digital assets.
The typical user is young, tech-savvy, holds a meaningful portfolio, and values ease and safety over minimal fees. As crypto becomes more integrated into traditional finance—from payroll to retirement accounts—platforms like Coinbase will remain central to adoption.
Frequently Asked Questions (FAQ)
How many active users does Coinbase have?
While total verified users exceed 89 million, active user numbers fluctuate based on market conditions. In Q3 2021, Coinbase reported over 9 million monthly transacting users (MTUs)—a key metric for engagement.
Is Coinbase safe for storing cryptocurrency?
Yes. Coinbase uses a combination of cold storage, insurance, and two-factor authentication to protect user funds. Most customer assets are kept offline, reducing exposure to hacks.
Can non-U.S. residents use Coinbase?
Yes. Coinbase is available in over 100 countries, though service availability and supported cryptocurrencies vary by region. Users outside the U.S. should check local regulations and supported features.
Why are Coinbase fees so high?
Coinbase charges higher fees to cover operational costs, security infrastructure, regulatory compliance, and customer support. Users seeking lower fees can use Coinbase Pro, which offers tiered pricing based on volume.
Does Coinbase offer staking or interest accounts?
Yes. Coinbase offers staking for select cryptocurrencies like Ethereum (ETH), Solana (SOL), and others, allowing users to earn passive income. Rates vary by asset and network conditions.
Will Coinbase reach 100 million users soon?
Given its current trajectory—adding tens of millions of users in just a few years—reaching 100 million verified users is highly likely, potentially by mid-2025 if adoption continues at a steady pace.
👉 Start your journey into secure, easy-to-use digital asset management today.
As cryptocurrency evolves from niche technology to mainstream financial tool, platforms like Coinbase play a pivotal role in driving global adoption. With strong fundamentals, growing trust, and continuous innovation, it remains a leader in shaping the future of money.