Recent Data Shows Coinbase is the Most Trusted Name in Crypto

Update: Once again, in Q4 ‘23 we asked over a thousand UK residents to rank how much they trusted Coinbase compared to a number of other crypto exchanges. Coinbase remained the “most trusted” brand among those measured, at 74% (vs. 73% in 2022).  Respondents cited Coinbase’s efforts to make information and education about cryptocurrency readily available as one of the key reasons it was perceived as ‘the most trusted’ platform amongst its peers. Users also said that Coinbase’s commitment to being properly regulated by financial authorities, its strong security features, and its reputation as an industry leader all helped instill trust in the platform. Disclosure: UK Trust and Security Research, conducted by Coinbase through Qualtrics. Survey of 1,283 UK residents Age 18+, December 2023-January 2024

At Coinbase, we’re working hard to help update the financial system by building products that expand the utility and adoption of crypto. To achieve our goal of bringing over 1 billion people into crypto, we’re committed to providing a secure, compliant, and trusted platform for users to access the cryptoeconomy. But how do we know that these are the qualities that people value and are willing to pay for? 

We’ve done extensive research and data analysis to understand what our customers and potential customers value and how they perceive Coinbase. We’re sharing some of the key findings below.

Coinbase has consistently ranked as the most trusted crypto-native platform across multiple markets.

• In the US and the UK, 73% of adults surveyed who are aware of Coinbase report that they trust Coinbase - higher than any other crypto platform in both markets. In Germany and India, Coinbase similarly outperformed all competitors on trust. 

• In the US, UK, and Germany, trust in Coinbase is highest among experienced crypto traders - 84%, 78%, and 73% respectively.

Security is a foundational element of trust

It is clear from the data that people recognize the efforts we put into our security measures and value the safety and security we provide:

• In the US, Coinbase is considered a ‘secure platform’ by more people than other major brands.

• In the UK, twice as many people are aware of Coinbase compared to any other crypto exchange, and more respondents considered Coinbase a ‘secure platform’ than any other exchange.

• In the US, UK, Germany, respondents associated Coinbase with vital security features more than any other exchange. 

• In the US, Coinbase ranks the highest over any other crypto exchange on brand reputation, strong security for coins, financial stability, and compliance with regulation. 

• In Germany, Coinbase outranks any other exchange in financial stability and compliance with regulations. 

Trust in crypto companies is on par with their trust in traditional finance companies

In both crypto and traditional finance, our research shows that the factors that influence brand trust are a company's financial stability, user data protection, and security measures. 

• In the US, 85% of crypto-forward respondents trust crypto institutions, while 83% trust traditional financial institutions. 

• In the UK, 81% of crypto-forwards respondents trust crypto institutions, while  79% trust traditional financial institutions.

Conclusion

Our commitment to trust, security, and premium service continues to resonate with our customers across the globe. We are grateful for this trust and vow to continue to strive for the highest level of service and security in the crypto market.

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Disclosure: The surveys referenced in this blog were developed on behalf of and paid for by Coinbase, Inc. in consultation with market research providers YouGov and Qualtrics, which collectively interviewed a representative sample size of 10,000+ adults (age 18 or older) from the US, UK, India, Germany, to gauge overall brand and trust sentiment among crypto exchanges. Respondents of varying race/ethnicity, gender, educational attainment and region were polled. Findings have been extrapolated to represent the views of the adult general populations.