Bitcoin Exchange Coinbase Booked $1 Billion in Revenue Last Year
While some companies are complaining about their unsatisfactory performance in 2017, digital exchange Coinbase revenue outperformed all the expectations.
By Julia SakovichUpdated
3 mins readPhoto: Pictures of Money / Flickr
As it has become known one the largest platforms for buying and selling cryptocurrencies Coinbase made more than $1 billion in revenues last year.
At the end of September the six-year-old company Coinbase expected to generate just $600 million in annual sales. But the achieved results mean that the company has exceeded its 2017 revenue forecast by 66 %.
Nevertheless, unpredicted factors played into the hands of the America’s largest cryptocurrency exchange: enormous interest in Bitcoin and other cryptocurrencies in November-December led to a skyrocketing demand for the company’s services toward the end of the year.
Coinbase is reported to add 100 000 users in just three days after the US Thanksgiving holiday period. Some other exchanges even were forced to stop welcoming new traders due to such rush of demand. But Coinbase was able to manage with it. The platform had over 13 million users by December.
Bitcoin that is traded at press time at $10,370.30 according to the data of CoinMarketCap (which is twice less than in December) is altogether worth about $175 billion in market value. But Bitcoin’s price is not the only source for the company’s revenue. The Coinbase’s income depends on the volume of trades as well.
During the last month of the year cryptocurrency trading volumes held steady above $25 billion a day. Coinbase, which makes money charging buyers and sellers a fee of between 0.25 % and 1 % to trade virtual currencies, appears to be one of the beneficiaries of this rising demand for crypto investments.
In spite of the fact that the interest of external investors continues its growth, the company remains private not letting its stocks be traded on secondary markets. One of the reasons for that is a lack of full and equal information available to the market.
Investors are willing to purchase shares in the company. But in August 2017, Coinbase raised $100 million in a series D funding run aimed at strengthening its engineering and customer service teams and opening a new office in New York. Those investors who didn’t take their chance at that time will probably have the only choice – to wait until the company decides to raise another round of funds.
Coinbase has always been famous for its recruitment policy of hiring experienced staff. In its team there are such professionals as Twitter executive Tina Bhatnagar, former top executive at Hewlett-Packard and TD Ameritrade Asiff Hirji and vice president of messaging products at Facebook and former president of PayPal David Marcus.
I’m a content writer and editor with extensive experience creating high-quality content across a range of industries. Currently, I serve as the Editor-in-Chief at Coinspeaker, where I lead content strategy, oversee editorial workflows, and ensure that every piece meets the highest standards. In this role, I collaborate closely with writers, researchers, and industry experts to deliver content that not only informs and educates but also sparks meaningful discussion around innovation.
Much of my work focuses on blockchain, cryptocurrencies, artificial intelligence, and software development, where I bring together editorial expertise, subject knowledge, and leadership experience to shape meaningful conversations about technology and its real-world impact. I’m particularly passionate about exploring how emerging technologies intersect with business, society, and everyday life. Whether I’m writing about decentralized finance, AI applications, or the latest in software development, my goal is always to make complex subjects accessible, relevant, and valuable to readers.
My academic background has played an important role in shaping my approach to content. I studied Intercultural Communications, PR, and Translation at Minsk State Linguistic University, and later pursued a Master’s degree in Economics and Management at the Belarusian State Economic University. The combination of linguistic, communication, and business training has given me the ability to translate complex technical and economic concepts into clear, engaging narratives for diverse audiences.
Over the years, my articles have been featured on a variety of platforms. In addition to contributing to company blogs—primarily for software development agencies—my work has appeared in well-regarded outlets such as SwissCognitive, HackerNoon, Tech Company News, and SmallBizClub, among others.
