BitGo vs Copper — Head-to-Head Custody Comparison

An independent, data-driven comparison of BitGo and Copper across security, insurance, fees, regulatory compliance, and more.

Verdict

Quick Verdict

BitGo scores 8.2 vs Copper's 7.1. BitGo leads in 7 of 8 categories.

BitGo is better suited for Institutions, Exchanges, Funds. Copper is better suited for Institutions, Hedge funds, Trading firms.

8.2

Very GoodCustody Score

BitGo

7.1

GoodCustody Score

Copper

Scores

Score Comparison

Weighted scores across all 8 custody criteria.

Criterion	Weight	BitGo	Copper	Winner
Security	20%	9.0	8.5	BitGo
Insurance	15%	8.5	7.0	BitGo
Regulatory	15%	9.0	7.5	BitGo
Fee Transparency	10%	6.5	5.0	BitGo
Track Record	15%	9.0	7.0	BitGo
Withdrawal Flexibility	10%	8.0	7.5	BitGo
Reporting & Audit	10%	8.5	7.5	BitGo
Counterparty Diversification	5%	3.0	3.0	Tie
Overall Score	100%	8.2	7.1	BitGo

Visual

Score Radar

Visual overlay of BitGo and Copper across all categories.

BitGoCopper

Deep Dive

Category-by-Category Analysis

A deeper look at how each provider performs in every scoring criterion.

Security (9.0 vs 8.5)

BitGo uses Multi-signature + MPC key management with Majority cold in cold storage and regular penetration testing. Compliance: SOC 2 Type 2. Incident history: No major incidents. Minor service disruptions reported..

Copper uses MPC-based custody key management with Majority cold in cold storage and regular penetration testing. Compliance: SOC 2 Type 2. Incident history: No incidents.

Insurance (8.5 vs 7.0)

BitGo offers $250M policy limit via Lloyd's of London syndicate. Covers assets in hot and cold storage against theft and security breaches. Institutions should confirm per-asset limits and exclusions.

Copper offers Insurance coverage available via Lloyd's market. Institutional custody insurance available.

Regulatory (9.0 vs 7.5)

BitGo holds South Dakota Trust Charter, New York BitLicense and is a qualified custodian operating in United States. BitGo Trust Company is a qualified custodian regulated by the South Dakota Division of Banking.

Copper holds UK regulatory permissions pending and is not a qualified custodian operating in United Kingdom. UK-based. Seeking full FCA authorization.

Fee Transparency (6.5 vs 5.0)

BitGo charges Based on AUM — tiered pricing in annual custody fees with Varies per transaction. Enterprise pricing available. BitGo Go for smaller clients.

Copper charges Custom in annual custody fees with Custom per transaction. Enterprise pricing. ClearLoop reduces counterparty risk for trading.

Track Record (9.0 vs 7.0)

BitGo was founded in 2013 and is headquartered in Palo Alto, CA. AUM: $64B+ in custody. Incident history: No major incidents. Minor service disruptions reported..

Copper was founded in 2018 and is headquartered in London, UK. AUM: Not publicly disclosed. Incident history: No incidents.

Withdrawal Flexibility (8.0 vs 7.5)

BitGo withdrawal fees: Network fees. Minimum account: Contact for pricing. Supported assets: Bitcoin, Ethereum, 700+ tokens.

Copper withdrawal fees: Network fees. Minimum account: Institutional only. Supported assets: Bitcoin, Ethereum, 400+ assets.

Reporting & Audit (8.5 vs 7.5)

BitGo: SOC compliance is SOC 2 Type 2. As a qualified custodian, it meets SEC reporting requirements.

Copper: SOC compliance is SOC 2 Type 2. Not classified as a qualified custodian.

Counterparty Diversification (3.0 vs 3.0)

BitGo is a qualified custodian provider. Key management: Multi-signature (2-of-3) with optional MPC. Keys split between client and BitGo..

Copper is a qualified custodian provider. Key management: MPC-based custody. ClearLoop off-exchange settlement..

Fees

Fee Comparison

Side-by-side fee breakdown for BitGo and Copper.

Fee Type	BitGo	Copper
Setup Fee	Varies by plan	Custom institutional pricing
Annual Custody	Based on AUM — tiered pricing	Custom
Transaction	Varies	Custom
Withdrawal	Network fees	Network fees

BitGo: Enterprise pricing available. BitGo Go for smaller clients.

Copper: Enterprise pricing. ClearLoop reduces counterparty risk for trading.

Features

Feature Comparison

Checklist of features across both providers.

Feature	BitGo	Copper
400+ asset support	✗	✓
700+ token support	✓	✗
ClearLoop off-exchange trading	✗	✓
DeFi access from custody	✗	✓
DeFi and Web3 access	✓	✗
Global institutional service	✗	✓
Hot and cold storage options	✓	✗
MPC-based key management	✗	✓
Multi-signature wallets (2-of-3)	✓	✗
Policy engine	✗	✓
Policy engine for governance workflows	✓	✗
Portfolio and tax reporting	✓	✗
Staking services	✓	✗

Recommendation

Who Should Choose Which?

BitGo is better if you…

✓Are a institutions
✓Are a exchanges
✓Are a funds
✓Are a fintechs
✓Want: Industry-leading institutional track record since 2013
✓Want: $250M insurance coverage
✓Want: SOC 2 Type 2 compliant

Copper is better if you…

✓Are a institutions
✓Are a hedge funds
✓Are a trading firms
✓Are a asset managers
✓Want: ClearLoop — trade without moving assets to exchange
✓Want: MPC technology — no single point of failure
✓Want: SOC 2 Type 2 certified

FAQ

Frequently Asked Questions

Is BitGo or Copper better for Bitcoin custody?

BitGo scores 8.2 vs 7.1 in our weighted Custody Score. BitGo leads in 7 of 8 scoring categories. However, the best choice depends on your specific needs: BitGo is best for Institutions and Exchanges, while Copper suits Institutions and Hedge funds.

What is the difference between BitGo and Copper?

BitGo is a qualified custodian provider, while Copper is a qualified custodian provider. BitGo excels in Security, whereas Copper is strongest in Security.

How do BitGo and Copper fees compare?

BitGo charges Based on AUM — tiered pricing annual custody fees with Varies transaction fees. Copper charges Custom annual custody fees with Custom transaction fees.

Which is more secure, BitGo or Copper?

BitGo scores 9.0/10 for security while Copper scores 8.5/10. BitGo uses Multi-signature + MPC key management, and Copper uses MPC-based custody.