Coinbase Crosses 650,000 Users

Since launching late last year, Coinbase has been on an extraordinary ride in becoming the U.S.’s leading consumer wallet for Bitcoin.

Earlier this week, we crossed more than 650,000 consumer Bitcoin wallets just days after raising $25 million in a round led by Andreessen Horowitz. The recent Senate hearings, where lawmakers and representatives from the Department of Justice and Secret Service talked about the currency’s potential, have helped the currency’s price rise by nearly tenfold in the last year alone.

Similarly, we’ve grown by more than twenty-fold in the last nine months after starting the year at just shy of 30,000 accounts. The average number of Coinbase transactions we’re seeing per day has grown even faster, and was up by more than twenty-fold in November from January.

We decided to share a bit of data about our user base to show how the adoption of the currency is growing. As you might guess, Bitcoin users are still overwhelmingly male. Nearly 90 percent of our visitors are male and more than half of them fall into the 25 to 34 age range.

But the share of women interested in buying Bitcoin is growing. The share of consumers interested in buying Bitcoin who were women rose to 12.5 percent of our total base in November from 5.8 percent in October.