Onramp vs Cash App — Head-to-Head Custody Comparison

An independent, data-driven comparison of Onramp and Cash App across security, insurance, fees, regulatory compliance, and more.

Verdict

Quick Verdict

Onramp scores 8.7 vs Cash App's 6.7. Onramp leads in 7 of 8 categories.

Onramp is better suited for Family offices, RIAs, HNW individuals. Cash App is better suited for Mainstream users, Beginners, Small investors.

8.7

Very GoodCustody Score

Onramp

6.7

FairCustody Score

Cash App

Scores

Score Comparison

Weighted scores across all 8 custody criteria.

Criterion	Weight	Onramp	Cash App	Winner
Security	20%	9.5	7.0	Onramp
Insurance	15%	9.0	5.0	Onramp
Regulatory	15%	8.5	8.0	Onramp
Fee Transparency	10%	7.5	5.5	Onramp
Track Record	15%	8.0	7.5	Onramp
Withdrawal Flexibility	10%	8.5	8.5	Tie
Reporting & Audit	10%	8.5	7.0	Onramp
Counterparty Diversification	5%	10.0	2.0	Onramp
Overall Score	100%	8.7	6.7	Onramp

Visual

Score Radar

Visual overlay of Onramp and Cash App across all categories.

OnrampCash App

Deep Dive

Category-by-Category Analysis

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

Security (9.5 vs 7.0)

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.

Cash App uses Block Inc. managed custody key management with Majority cold in cold storage and regular penetration testing. Compliance: Block Inc. SOC 2. Incident history: 2022 employee data breach (Cash App Investing, not Bitcoin).

Insurance (9.0 vs 5.0)

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.

Cash App offers Block Inc. corporate insurance via Via Block Inc.. Publicly traded parent company (Block Inc. / SQ).

Regulatory (8.5 vs 8.0)

Onramp holds State money transmitter licenses and is a qualified custodian operating in United States. Regulated through underlying custodian partnerships with qualified custodians

Cash App holds NY BitLicense, State money transmitter licenses, FinCEN MSB and is not a qualified custodian operating in United States. Block Inc. (NYSE: SQ) — publicly traded fintech company.

Fee Transparency (7.5 vs 5.5)

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

Cash App charges None in annual custody fees with ~1.5-2.5% (spread) per transaction. Convenient but higher spread than dedicated exchanges. Free withdrawals.

Track Record (8.0 vs 7.5)

Onramp was founded in 2021 and is headquartered in Austin, TX. AUM: $1B+. Incident history: No incidents.

Cash App was founded in 2013 and is headquartered in San Francisco, CA. AUM: Not publicly disclosed. Incident history: 2022 employee data breach (Cash App Investing, not Bitcoin).

Withdrawal Flexibility (8.5 vs 8.5)

Onramp withdrawal fees: Contact for pricing. Minimum account: $100,000. Supported assets: Bitcoin.

Cash App withdrawal fees: Free Bitcoin withdrawals. Minimum account: No minimum ($1). Supported assets: Bitcoin only.

Reporting & Audit (8.5 vs 7.0)

Onramp: SOC compliance is Via underlying custodians (SOC 1 & SOC 2). As a qualified custodian, it meets SEC reporting requirements.

Cash App: SOC compliance is Block Inc. SOC 2. Not classified as a qualified custodian.

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.).

Cash App is a exchange custody provider. Key management: Bitcoin buying within Cash App payment ecosystem. Block Inc. custody..

Fees

Fee Comparison

Side-by-side fee breakdown for Onramp and Cash App.

Fee Type	Onramp	Cash App
Setup Fee	Contact for pricing	Free
Annual Custody	Contact for pricing	None
Transaction	0.50% per trade (brokerage)	~1.5-2.5% (spread)
Withdrawal	Contact for pricing	Free Bitcoin withdrawals

Onramp: Also offers Onramp Finance: lowest-cost Bitcoin brokerage at 50bps, 5% APY on cash, 1.5% cashback card

Cash App: Convenient but higher spread than dedicated exchanges. Free withdrawals.

Features

Feature Comparison

Checklist of features across both providers.

Feature	Onramp	Cash App
1.5% cashback card	✓	✗
5% APY on cash balances	✓	✗
50M+ monthly users	✗	✓
Auto-invest (DCA)	✗	✓
Bitcoin brokerage services (Onramp Finance)	✓	✗
Free Bitcoin withdrawals	✗	✓
Institutional-grade security and compliance	✓	✗
Lightning Network support	✗	✓
Mainstream accessibility	✗	✓
Multi-Institution Custody across multiple regulated custodians	✓	✗
No single point of failure	✓	✗
Proof of reserves	✗	✓
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

Cash App is better if you…

✓Are a mainstream users
✓Are a beginners
✓Are a small investors
✓Are a cash app existing users
✓Want: Most accessible Bitcoin on-ramp — 50M+ users
✓Want: Free Bitcoin withdrawals
✓Want: Publicly traded parent (Block/SQ)

FAQ

Frequently Asked Questions

Is Onramp or Cash App better for Bitcoin custody?

Onramp scores 8.7 vs 6.7 in our weighted Custody Score. Onramp leads in 7 of 8 scoring categories. However, the best choice depends on your specific needs: Onramp is best for Family offices and RIAs, while Cash App suits Mainstream users and Beginners.

What is the difference between Onramp and Cash App?

Onramp is a multi-institution custody provider, while Cash App is a exchange custody provider. Onramp excels in Counterparty Diversification, whereas Cash App is strongest in Withdrawal Flexibility.

How do Onramp and Cash App fees compare?

Onramp charges Contact for pricing annual custody fees with 0.50% per trade (brokerage) transaction fees. Cash App charges None annual custody fees with ~1.5-2.5% (spread) transaction fees.

Which is more secure, Onramp or Cash App?

Onramp scores 9.5/10 for security while Cash App scores 7.0/10. Onramp uses Multi-institution distributed key management, and Cash App uses Block Inc. managed custody.