Skip to main content

Coinbase’s Trading Volume Grew 8.5 Times in 2021 — With 89 Million Verified Users

Coinbase's Trading Volume Grew 8.5x in 2021 — Number of Verified Users Rises to 89 Million

The Nasdaq-listed cryptocurrency exchange Coinbase says the number of monthly transacting users on its platform rose to 11.4 million at the end of 2021, which was more than four times the previous year. In addition, Coinbase’s trading volume grew more than 8.5 times from the previous year, and the number of verified users has risen to 89 million.

A Good Year for Coinbase

The Nasdaq-listed crypto exchange Coinbase released its fourth-quarter and full-year 2021 earnings report Thursday.

“2021 was a year of tremendous growth and development in the cryptoeconomy, as well as for Coinbase. We ended 2021 with strong performance across our key metrics that were within our outlook,” the company wrote, adding:

We ended the year with 11.4 million Monthly Transacting Users (MTUs).

Coinbase noted that the number of MTUs at the end of 2021 was “over 4x compared to 2020.” In addition, the number of verified users on its platform has grown to 89 million.

During the year, Coinbase expanded its business a number of ways, including adding the “trading and custody support for 95 and 72 new crypto assets, respectively.” The company also “more than doubled the number of countries where users can buy and sell crypto via fiat rails to 90+, and added Apple Pay, Google Pay, and Paypal as payment methods.”

Moreover, Coinbase said:

In 2021, our trading volume grew more than 8.5x compared to 2020, and our market share of trading volume increased in virtually all assets.

The Nasdaq-listed crypto exchange also grew its institutional customer base by over 50% last year. “On the institutional side, a major theme throughout 2021 was adoption by a broader range of clients seeking to engage with crypto — beyond asset managers and financial services firms to corporate treasuries and institutional allocators,” the company noted, elaborating:

In 2021, we generated $3.6 billion in net income, up 11x compared to 2020.

What do you think about Coinbase’s 2021 performance? Let us know in the comments section below.



from Bitcoin News https://ift.tt/x2p5vn0
Labels:

Comments

Post a Comment

Popular posts from this blog

Deep Web Roundup: Dream Adds Monero and Bitcoin Tumbler “Chip Mixer” Launches

The darknet has been quiet of late, which is the way it’s meant to be. No news means no mega busts, honeypots, or mass market shutdowns. Even when it’s out of the spotlight though, the deep web is quietly making news, whether trialling the latest privacy coins or the newest coin mixers that promise to restore a little of the privacy that’s being stripped away from bitcoin users on a daily basis. Also read: U.S. Agency ICE Conducts Investigations That Exploit Blockchain Activity The Battle for Privacy Heats Up Privacy is all relative, but of late there’s been relatively little privacy to be enjoyed by bitcoin users. Blockchain monitoring software is becoming more sophisticated and more common, with U.S. law enforcement agencies using it to profile and hunt down deep web users. Chip Mixer is a relatively new bitcoin tumbler that’s designed to restore some of that privacy. Available on both the clearnet and darknet, the service uses a variety of techniques to obfuscate blockchain m
10 comments
Read more

International Crypto Exchange Luno Adds Bitcoin Cash Trading

Luno exchange has added bitcoin cash trading to the platform following feedback from its client base. BCH is now only the third cryptocurrency available for trading on the exchange, in addition to BTC and ETH , but more options could be on the way once Luno determines that they are credible enough. Also Read: Bitflyer Adds Bitcoin Cash Trading Across Europe and the US Luno Adds Bitcoin Cash Trading Luno, the London-headquartered company formerly known as Bitx, recently announced that bitcoin cash was made available on its cryptocurrency exchange. Starting from Monday, September 23, customers at Luno are now able to store, buy and sell BCH on the platform. The reason given for adding BCH to the exchange is feedback from users in developing markets that convinced Luno to expand their offering from previously just BTC and ETH . Marcus Swanepoel, CEO of Luno, said , “We are in a new and exciting financial era. Developing economies are leading the large-scale adoption and appli
Post a Comment
Read more

Ombudsman Receives Complaints About Crypto Investments in Spain

The Spanish ombudsman has been receiving complaints about cryptocurrency and how some Spanish citizens investing in these vehicles have lost everything. In his annual report, Angel Gabilondo recognized the rise of cryptocurrencies as a new problem due to the little or no regulation crypto sees in the country. In the same way, the EU has also warned about these assets recently. Spanish Ombudsman Gives His Take on Crypto Angel Gabilondo, the Spanish ombudsman, has given his take regarding cryptocurrencies and the effects they have on citizens investing in some of these projects. Gabilondo said in his yearly report that cryptocurrencies have become “a new problem” during the year examined, with many people having lost all of their funds invested. The report states : Cryptocurrency exchange companies or platforms are not regulated in the legal system, are not subject to any public supervision system, nor do they benefit from deposit guarantee systems. The affected users that sought
Post a Comment
Read more