Unchained vs Nunchuk — Head-to-Head Custody Comparison

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

Verdict

Quick Verdict

Unchained scores 7.1 vs Nunchuk's 5.9. Unchained leads in 6 of 8 categories.

Unchained is better suited for HNW individuals, Families, Small institutions. Nunchuk is better suited for Families, Teams, Multi-sig users.

7.1

GoodCustody Score

Unchained

5.9

Below AverageCustody Score

Nunchuk

Scores

Score Comparison

Weighted scores across all 8 custody criteria.

Criterion	Weight	Unchained	Nunchuk	Winner
Security	20%	8.5	8.0	Unchained
Insurance	15%	4.0	2.0	Unchained
Regulatory	15%	5.0	3.0	Unchained
Fee Transparency	10%	9.5	9.0	Unchained
Track Record	15%	8.5	6.5	Unchained
Withdrawal Flexibility	10%	9.5	9.5	Tie
Reporting & Audit	10%	6.0	4.0	Unchained
Counterparty Diversification	5%	6.0	7.0	Nunchuk
Overall Score	100%	7.1	5.9	Unchained

Visual

Score Radar

Visual overlay of Unchained and Nunchuk across all categories.

UnchainedNunchuk

Deep Dive

Category-by-Category Analysis

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

Security (8.5 vs 8.0)

Unchained uses 2-of-3 collaborative multisig key management with 100% (hardware wallets) in cold storage and regular penetration testing. Compliance: N/A (client-controlled keys). Incident history: No incidents.

Nunchuk uses Collaborative multisig wallet key management with 100% (hardware wallets) in cold storage and regular penetration testing. Compliance: N/A. Incident history: No incidents.

Insurance (4.0 vs 2.0)

Unchained offers Limited — Unchained's key is insured but client keys are client's responsibility via Not publicly disclosed. Because client holds majority of keys, insurance model is different from full-custodian solutions. Client bears primary responsibility for key security.

Nunchuk offers Limited — collaborative custody model via N/A. Users hold their own keys. Nunchuk assists but doesn't insure.

Regulatory (5.0 vs 3.0)

Unchained holds FinCEN MSB registration and is not a qualified custodian operating in United States. Not a qualified custodian in the SEC sense — by design, since the client holds majority of keys. This is a feature, not a bug, for self-sovereignty advocates.

Nunchuk holds N/A and is not a qualified custodian operating in Canada. Canadian company. Not a custodian — provides wallet software.

Fee Transparency (9.5 vs 9.0)

Unchained charges $250/year (Standard) / $1,200/year (Premium) in annual custody fees with No transaction fees for self-managed per transaction. Also offers Bitcoin-backed loans. IRA custody available at additional cost.

Nunchuk charges See setup (subscription model) in annual custody fees with No transaction fees per transaction. Premium includes server-assisted keys and inheritance planning.

Track Record (8.5 vs 6.5)

Unchained was founded in 2016 and is headquartered in Austin, TX. AUM: $2B+ in Bitcoin secured. Incident history: No incidents.

Nunchuk was founded in 2020 and is headquartered in Toronto, Canada. AUM: Not publicly disclosed. Incident history: No incidents.

Withdrawal Flexibility (9.5 vs 9.5)

Unchained withdrawal fees: Network fees only. Minimum account: No minimum for basic vault. Supported assets: Bitcoin.

Nunchuk withdrawal fees: Network fees only. Minimum account: No minimum. Supported assets: Bitcoin.

Reporting & Audit (6.0 vs 4.0)

Unchained: SOC compliance is N/A (client-controlled keys). Not classified as a qualified custodian.

Nunchuk: SOC compliance is N/A. Not classified as a qualified custodian.

Counterparty Diversification (6.0 vs 7.0)

Unchained is a collaborative custody provider. Key management: 2-of-3 multisig. Client holds 2 keys (hardware wallets), Unchained holds 1 key. Client can always transact independently..

Nunchuk is a collaborative custody provider. Key management: Collaborative multisig. Flexible key configurations (2-of-3, 3-of-5, etc.)..

Fees

Fee Comparison

Side-by-side fee breakdown for Unchained and Nunchuk.

Fee Type	Unchained	Nunchuk
Setup Fee	Free (basic) / $250 (concierge onboarding)	Free (basic) / $14.99/month (Premium) / Custom (Business)
Annual Custody	$250/year (Standard) / $1,200/year (Premium)	See setup (subscription model)
Transaction	No transaction fees for self-managed	No transaction fees
Withdrawal	Network fees only	Network fees only

Unchained: Also offers Bitcoin-backed loans. IRA custody available at additional cost.

Nunchuk: Premium includes server-assisted keys and inheritance planning.

Features

Feature Comparison

Checklist of features across both providers.

Feature	Unchained	Nunchuk
2-of-3 multisig vaults	✓	✗
Bitcoin-backed loans	✓	✗
Client holds majority of keys	✓	✗
Collaborative multisig	✗	✓
Concierge onboarding with Bitcoin expert	✓	✗
Flexible key configurations	✗	✓
Hardware wallet integration	✗	✓
IRA accounts	✓	✗
Inheritance planning	✗	✓
Inheritance planning (Unchained can assist beneficiaries)	✓	✗
Key replacement assistance	✓	✗
Taproot support	✗	✓
Team-based key management	✗	✓

Recommendation

Who Should Choose Which?

Unchained is better if you…

✓Are a hnw individuals
✓Are a families
✓Are a small institutions
✓Are a self-sovereignty advocates
✓Want: Client always maintains control — can move funds without Unchained
✓Want: Excellent for inheritance planning
✓Want: Very transparent, affordable pricing ($250-1,200/year)

Nunchuk is better if you…

✓Are a families
✓Are a teams
✓Are a multi-sig users
✓Are a inheritance planners
✓Want: Excellent multisig UX — genuinely easy
✓Want: Flexible key configurations
✓Want: Inheritance planning built-in

FAQ

Frequently Asked Questions

Is Unchained or Nunchuk better for Bitcoin custody?

Unchained scores 7.1 vs 5.9 in our weighted Custody Score. Unchained leads in 6 of 8 scoring categories. However, the best choice depends on your specific needs: Unchained is best for HNW individuals and Families, while Nunchuk suits Families and Teams.

What is the difference between Unchained and Nunchuk?

Unchained is a collaborative custody provider, while Nunchuk is a collaborative custody provider. Unchained excels in Fee Transparency, whereas Nunchuk is strongest in Withdrawal Flexibility.

How do Unchained and Nunchuk fees compare?

Unchained charges $250/year (Standard) / $1,200/year (Premium) annual custody fees with No transaction fees for self-managed transaction fees. Nunchuk charges See setup (subscription model) annual custody fees with No transaction fees transaction fees.

Which is more secure, Unchained or Nunchuk?

Unchained scores 8.5/10 for security while Nunchuk scores 8.0/10. Unchained uses 2-of-3 collaborative multisig key management, and Nunchuk uses Collaborative multisig wallet.