Onramp vs Coinbase — Head-to-Head Custody Comparison

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

Verdict

Quick Verdict

Onramp scores 8.7 vs Coinbase's 7.8. Onramp leads in 5 of 8 categories.

Onramp is better suited for Family offices, RIAs, HNW individuals. Coinbase is better suited for Beginners, US-based investors, Passive holders.

8.7

Very GoodCustody Score

Onramp

7.8

GoodCustody Score

Coinbase

Scores

Score Comparison

Weighted scores across all 8 custody criteria.

Criterion	Weight	Onramp	Coinbase	Winner
Security	20%	9.5	8.0	Onramp
Insurance	15%	9.0	7.0	Onramp
Regulatory	15%	8.5	9.5	Coinbase
Fee Transparency	10%	7.5	6.0	Onramp
Track Record	15%	8.0	8.5	Coinbase
Withdrawal Flexibility	10%	8.5	8.0	Onramp
Reporting & Audit	10%	8.5	9.0	Coinbase
Counterparty Diversification	5%	10.0	2.0	Onramp
Overall Score	100%	8.7	7.8	Onramp

Visual

Score Radar

Visual overlay of Onramp and Coinbase across all categories.

OnrampCoinbase

Deep Dive

Category-by-Category Analysis

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

Security (9.5 vs 8.0)

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.

Coinbase uses Institutional cold storage system key management with 98%+ in cold storage and regular penetration testing. Compliance: SOC 2 Type 2. Incident history: 2021 account takeover attacks (phishing, not platform breach).

Insurance (9.0 vs 7.0)

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.

Coinbase offers Crypto insurance for hot wallet portion. FDIC on USD (up to $250K). via Crime insurance policy. Publicly traded company. FDIC insurance on cash. Crypto hot wallet insured.

Regulatory (8.5 vs 9.5)

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

Coinbase holds NASDAQ listed (COIN), FinCEN MSB, NY BitLicense, State licenses, Multiple international licenses and is a qualified custodian operating in United States / Global. Most regulated US exchange. Publicly traded. Custodian for multiple Bitcoin ETFs.

Fee Transparency (7.5 vs 6.0)

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

Coinbase charges None in annual custody fees with ~1.5% (Simple) / 0.05-0.6% (Advanced) per transaction. Simple interface has higher fees. Advanced trading has competitive fees.

Track Record (8.0 vs 8.5)

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

Coinbase was founded in 2012 and is headquartered in San Francisco, CA. AUM: $130B+ assets on platform. Incident history: 2021 account takeover attacks (phishing, not platform breach).

Withdrawal Flexibility (8.5 vs 8.0)

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

Coinbase withdrawal fees: Network fees. Minimum account: No minimum ($1). Supported assets: Bitcoin, Ethereum, 250+ cryptocurrencies.

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.

Coinbase: 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.).

Coinbase is a exchange custody provider. Key management: Exchange-managed custody with institutional-grade cold storage infrastructure..

Fees

Fee Comparison

Side-by-side fee breakdown for Onramp and Coinbase.

Fee Type	Onramp	Coinbase
Setup Fee	Contact for pricing	Free
Annual Custody	Contact for pricing	None
Transaction	0.50% per trade (brokerage)	~1.5% (Simple) / 0.05-0.6% (Advanced)
Withdrawal	Contact for pricing	Network fees

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

Coinbase: Simple interface has higher fees. Advanced trading has competitive fees.

Features

Feature Comparison

Checklist of features across both providers.

Feature	Onramp	Coinbase
1.5% cashback card	✓	✗
5% APY on cash balances	✓	✗
98%+ cold storage	✗	✓
Beginner-friendly interface	✗	✓
Bitcoin brokerage services (Onramp Finance)	✓	✗
Coinbase Vault for extra security	✗	✓
ETF custodian (BlackRock IBIT)	✗	✓
FDIC on USD	✗	✓
Institutional-grade security and compliance	✓	✗
Multi-Institution Custody across multiple regulated custodians	✓	✗
No single point of failure	✓	✗
Publicly traded (NASDAQ)	✗	✓
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

Coinbase is better if you…

✓Are a beginners
✓Are a us-based investors
✓Are a passive holders
✓Are a mainstream adopters
✓Want: Publicly traded — maximum transparency
✓Want: Custodian for BlackRock and other ETFs
✓Want: 98%+ cold storage

FAQ

Frequently Asked Questions

Is Onramp or Coinbase better for Bitcoin custody?

Onramp scores 8.7 vs 7.8 in our weighted Custody Score. Onramp leads in 5 of 8 scoring categories. However, the best choice depends on your specific needs: Onramp is best for Family offices and RIAs, while Coinbase suits Beginners and US-based investors.

What is the difference between Onramp and Coinbase?

Onramp is a multi-institution custody provider, while Coinbase is a exchange custody provider. Onramp excels in Counterparty Diversification, whereas Coinbase is strongest in Regulatory.

How do Onramp and Coinbase fees compare?

Onramp charges Contact for pricing annual custody fees with 0.50% per trade (brokerage) transaction fees. Coinbase charges None annual custody fees with ~1.5% (Simple) / 0.05-0.6% (Advanced) transaction fees.

Which is more secure, Onramp or Coinbase?

Onramp scores 9.5/10 for security while Coinbase scores 8.0/10. Onramp uses Multi-institution distributed key management, and Coinbase uses Institutional cold storage system.