Onramp vs Anchorage Digital — Head-to-Head Custody Comparison
An independent, data-driven comparison of Onramp and Anchorage Digital across security, insurance, fees, regulatory compliance, and more.
Verdict
Quick Verdict
Onramp scores 8.7 vs Anchorage Digital's 7.9. Onramp leads in 4 of 8 categories.
Onramp is better suited for Family offices, RIAs, HNW individuals. Anchorage Digital is better suited for Institutions, Asset managers, Protocol treasuries.
Scores
Score Comparison
Weighted scores across all 8 custody criteria.
| Criterion | Weight | Onramp | Anchorage Digital | Winner |
|---|---|---|---|---|
| Security | 20% | 9.5 | 9.5 | Tie |
| Insurance | 15% | 9.0 | 8.0 | Onramp |
| Regulatory | 15% | 8.5 | 10.0 | Anchorage Digital |
| Fee Transparency | 10% | 7.5 | 4.0 | Onramp |
| Track Record | 15% | 8.0 | 8.0 | Tie |
| Withdrawal Flexibility | 10% | 8.5 | 7.0 | Onramp |
| Reporting & Audit | 10% | 8.5 | 9.0 | Anchorage Digital |
| Counterparty Diversification | 5% | 10.0 | 2.0 | Onramp |
| Overall Score | 100% | 8.7 | 7.9 | Onramp |
Visual
Score Radar
Visual overlay of Onramp and Anchorage Digital across all categories.
Deep Dive
Category-by-Category Analysis
A deeper look at how each provider performs in every scoring criterion.
Security (9.5 vs 9.5)
Onramp uses Multi-institution distributed key management with Varies by underlying custodian in cold storage and regular penetration testing. Compliance: Via underlying custodians (SOC 1 & SOC 2). Incident history: No incidents.
Anchorage Digital uses HSM + biometric authentication key management with Majority cold in cold storage and regular penetration testing. Compliance: SOC 2 Type 2. Incident history: No incidents.
Insurance (9.0 vs 8.0)
Onramp offers Aggregate coverage across multiple custodian insurance policies via Multiple (via underlying custodians). Each underlying custodian maintains their own insurance. Combined coverage exceeds single-custodian limits.
Anchorage Digital offers Significant coverage (not publicly disclosed) via Major carriers. As an OCC-chartered bank, subject to bank-level regulatory capital requirements.
Regulatory (8.5 vs 10.0)
Onramp holds State money transmitter licenses and is a qualified custodian operating in United States. Regulated through underlying custodian partnerships with qualified custodians
Anchorage Digital holds OCC National Trust Bank Charter and is a qualified custodian operating in United States. First and only federally chartered crypto bank. Highest level of US regulatory approval for a digital asset custodian.
Fee Transparency (7.5 vs 4.0)
Onramp charges Contact for pricing in annual custody fees with 0.50% per trade (brokerage) per transaction. Also offers Onramp Finance: lowest-cost Bitcoin brokerage at 50bps, 5% APY on cash, 1.5% cashback card
Anchorage Digital charges Custom in annual custody fees with Custom per transaction. Fully custom pricing for institutional clients. No self-serve option.
Track Record (8.0 vs 8.0)
Onramp was founded in 2021 and is headquartered in Austin, TX. AUM: $1B+. Incident history: No incidents.
Anchorage Digital was founded in 2017 and is headquartered in San Francisco, CA. AUM: Not publicly disclosed (serves major institutions). Incident history: No incidents.
Withdrawal Flexibility (8.5 vs 7.0)
Onramp withdrawal fees: Contact for pricing. Minimum account: $100,000. Supported assets: Bitcoin.
Anchorage Digital withdrawal fees: Custom. Minimum account: Institutional only. Supported assets: Bitcoin, Ethereum, Multiple digital assets.
Reporting & Audit (8.5 vs 9.0)
Onramp: SOC compliance is Via underlying custodians (SOC 1 & SOC 2). As a qualified custodian, it meets SEC reporting requirements.
Anchorage Digital: SOC compliance is SOC 2 Type 2. As a qualified custodian, it meets SEC reporting requirements.
Counterparty Diversification (10.0 vs 2.0)
Onramp is a multi-institution custody provider. Key management: Multi-institution distributed custody — keys and assets spread across multiple independent regulated custodians (BitGo, Coinbase, Fidelity, etc.).
Anchorage Digital is a qualified custodian provider. Key management: Proprietary HSM-based system with biometric authentication and multi-layer approval workflows..
Fees
Fee Comparison
Side-by-side fee breakdown for Onramp and Anchorage Digital.
| Fee Type | Onramp | Anchorage Digital |
|---|---|---|
| Setup Fee | Contact for pricing | Custom institutional pricing |
| Annual Custody | Contact for pricing | Custom |
| Transaction | 0.50% per trade (brokerage) | Custom |
| Withdrawal | Contact for pricing | Custom |
Onramp: Also offers Onramp Finance: lowest-cost Bitcoin brokerage at 50bps, 5% APY on cash, 1.5% cashback card
Anchorage Digital: Fully custom pricing for institutional clients. No self-serve option.
Features
Feature Comparison
Checklist of features across both providers.
| Feature | Onramp | Anchorage Digital |
|---|---|---|
| 1.5% cashback card | ✓ | ✗ |
| 5% APY on cash balances | ✓ | ✗ |
| Advanced governance and approval workflows | ✗ | ✓ |
| Biometric authentication | ✗ | ✓ |
| Bitcoin brokerage services (Onramp Finance) | ✓ | ✗ |
| DeFi access from custody | ✗ | ✓ |
| Federally chartered digital asset bank | ✗ | ✓ |
| Institutional-grade security and compliance | ✓ | ✗ |
| Multi-Institution Custody across multiple regulated custodians | ✓ | ✗ |
| No single point of failure | ✓ | ✗ |
| Staking from custody | ✗ | ✓ |
| Trading and settlement | ✗ | ✓ |
| White-glove onboarding for institutions | ✓ | ✗ |
Recommendation
Who Should Choose Which?
Onramp is better if you…
- ✓Are a family offices
- ✓Are a rias
- ✓Are a hnw individuals
- ✓Are a institutions
- ✓Want: Only provider offering true multi-institution custody — no single point of failure
- ✓Want: Aggregated insurance coverage exceeds any single custodian
- ✓Want: $1B+ in assets under custody demonstrates institutional trust
Anchorage Digital is better if you…
- ✓Are a institutions
- ✓Are a asset managers
- ✓Are a protocol treasuries
- ✓Are a government entities
- ✓Want: Only federally chartered digital asset bank — highest US regulatory status
- ✓Want: Trusted by Visa, Samsung, and other blue-chip institutions
- ✓Want: SOC 2 Type 2 compliant
FAQ
Frequently Asked Questions
Is Onramp or Anchorage Digital better for Bitcoin custody?
Onramp scores 8.7 vs 7.9 in our weighted Custody Score. Onramp leads in 4 of 8 scoring categories. However, the best choice depends on your specific needs: Onramp is best for Family offices and RIAs, while Anchorage Digital suits Institutions and Asset managers.
What is the difference between Onramp and Anchorage Digital?
Onramp is a multi-institution custody provider, while Anchorage Digital is a qualified custodian provider. Onramp excels in Counterparty Diversification, whereas Anchorage Digital is strongest in Regulatory.
How do Onramp and Anchorage Digital fees compare?
Onramp charges Contact for pricing annual custody fees with 0.50% per trade (brokerage) transaction fees. Anchorage Digital charges Custom annual custody fees with Custom transaction fees.
Which is more secure, Onramp or Anchorage Digital?
Onramp scores 9.5/10 for security while Anchorage Digital scores 9.5/10. Onramp uses Multi-institution distributed key management, and Anchorage Digital uses HSM + biometric authentication.
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