Gemini Custody vs Copper — Head-to-Head Custody Comparison

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

Verdict

Quick Verdict

Gemini Custody scores 7.7 vs Copper's 7.1. Gemini Custody leads in 3 of 8 categories.

Gemini Custody is better suited for Institutions, Funds, Family offices. Copper is better suited for Institutions, Hedge funds, Trading firms.

7.7

GoodCustody Score

Gemini Custody

7.1

GoodCustody Score

Copper

Scores

Score Comparison

Weighted scores across all 8 custody criteria.

Criterion	Weight	Gemini Custody	Copper	Winner
Security	20%	8.5	8.5	Tie
Insurance	15%	7.0	7.0	Tie
Regulatory	15%	9.0	7.5	Gemini Custody
Fee Transparency	10%	7.5	5.0	Gemini Custody
Track Record	15%	7.0	7.0	Tie
Withdrawal Flexibility	10%	7.5	7.5	Tie
Reporting & Audit	10%	9.0	7.5	Gemini Custody
Counterparty Diversification	5%	2.0	3.0	Copper
Overall Score	100%	7.7	7.1	Gemini Custody

Visual

Score Radar

Visual overlay of Gemini Custody and Copper across all categories.

Gemini CustodyCopper

Deep Dive

Category-by-Category Analysis

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

Security (8.5 vs 8.5)

Gemini Custody uses HSM-based cold storage key management with Majority cold in cold storage and regular penetration testing. Compliance: SOC 1 Type 2 + SOC 2 Type 2. Incident history: Gemini Earn program issues in 2022 (separate from custody). No custody-specific incidents..

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 (7.0 vs 7.0)

Gemini Custody offers Insurance on all crypto stored in hot wallet. Cold storage coverage varies. via Top insurance providers. Gemini is one of few exchanges offering insurance on online assets. Cold storage insurance details available to institutional clients.

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

Regulatory (9.0 vs 7.5)

Gemini Custody holds New York Trust Charter, SOC 1 Type 2, SOC 2 Type 2 and is a qualified custodian operating in United States. New York State Department of Financial Services regulated trust company. First crypto exchange to achieve both SOC 1 and SOC 2 Type 2.

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

Fee Transparency (7.5 vs 5.0)

Gemini Custody charges 0.40% AUM annually (40bps) — tiered in annual custody fees with Varies by volume per transaction. Lower than Coinbase Custody's 50bps for comparable service.

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

Track Record (7.0 vs 7.0)

Gemini Custody was founded in 2019 and is headquartered in New York, NY. AUM: Not publicly disclosed. Incident history: Gemini Earn program issues in 2022 (separate from custody). No custody-specific incidents..

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

Withdrawal Flexibility (7.5 vs 7.5)

Gemini Custody withdrawal fees: Network fees. Minimum account: Contact for pricing. Supported assets: Bitcoin, Ethereum, 70+ assets.

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

Reporting & Audit (9.0 vs 7.5)

Gemini Custody: SOC compliance is SOC 1 Type 2 + 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 (2.0 vs 3.0)

Gemini Custody is a qualified custodian provider. Key management: Proprietary cold storage system with HSMs and multi-layer security protocols..

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

Fees

Fee Comparison

Side-by-side fee breakdown for Gemini Custody and Copper.

Fee Type	Gemini Custody	Copper
Setup Fee	Contact for pricing	Custom institutional pricing
Annual Custody	0.40% AUM annually (40bps) — tiered	Custom
Transaction	Varies by volume	Custom
Withdrawal	Network fees	Network fees

Gemini Custody: Lower than Coinbase Custody's 50bps for comparable service.

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

Features

Feature Comparison

Checklist of features across both providers.

Feature	Gemini Custody	Copper
400+ asset support	✗	✓
70+ asset support	✓	✗
Available in all 50 US states	✓	✗
ClearLoop off-exchange trading	✗	✓
Cold storage custody	✓	✗
DeFi access from custody	✗	✓
Global institutional service	✗	✓
Hardware security key support (WebAuthn)	✓	✗
Integration with Gemini exchange	✓	✗
MPC-based key management	✗	✓
Policy engine	✗	✓
SOC 1 & SOC 2 Type 2 certified	✓	✗

Recommendation

Who Should Choose Which?

Gemini Custody is better if you…

✓Are a institutions
✓Are a funds
✓Are a family offices
✓Are a fiduciaries
✓Want: First crypto exchange to achieve SOC 1 + SOC 2 Type 2
✓Want: Competitive custody fee at 40bps
✓Want: Available in all 50 US states

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 Gemini Custody or Copper better for Bitcoin custody?

Gemini Custody scores 7.7 vs 7.1 in our weighted Custody Score. Gemini Custody leads in 3 of 8 scoring categories. However, the best choice depends on your specific needs: Gemini Custody is best for Institutions and Funds, while Copper suits Institutions and Hedge funds.

What is the difference between Gemini Custody and Copper?

Gemini Custody is a qualified custodian provider, while Copper is a qualified custodian provider. Gemini Custody excels in Regulatory, whereas Copper is strongest in Security.

How do Gemini Custody and Copper fees compare?

Gemini Custody charges 0.40% AUM annually (40bps) — tiered annual custody fees with Varies by volume transaction fees. Copper charges Custom annual custody fees with Custom transaction fees.

Which is more secure, Gemini Custody or Copper?

Gemini Custody scores 8.5/10 for security while Copper scores 8.5/10. Gemini Custody uses HSM-based cold storage key management, and Copper uses MPC-based custody.