Onramp vs Coldcard — Head-to-Head Custody Comparison

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

Verdict

Quick Verdict

Onramp scores 8.7 vs Coldcard's 5.9. Onramp leads in 4 of 8 categories.

Onramp is better suited for Family offices, RIAs, HNW individuals. Coldcard is better suited for Bitcoin maximalists, Security experts, Air-gap enthusiasts.

8.7

Very GoodCustody Score

Onramp

5.9

Below AverageCustody Score

Coldcard

Scores

Score Comparison

Weighted scores across all 8 custody criteria.

Criterion	Weight	Onramp	Coldcard	Winner
Security	20%	9.5	9.5	Tie
Insurance	15%	9.0	1.0	Onramp
Regulatory	15%	8.5	1.0	Onramp
Fee Transparency	10%	7.5	9.5	Coldcard
Track Record	15%	8.0	8.0	Tie
Withdrawal Flexibility	10%	8.5	9.0	Coldcard
Reporting & Audit	10%	8.5	2.0	Onramp
Counterparty Diversification	5%	10.0	9.5	Onramp
Overall Score	100%	8.7	5.9	Onramp

Visual

Score Radar

Visual overlay of Onramp and Coldcard across all categories.

OnrampColdcard

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.

Coldcard uses Air-gapped hardware wallet with secure element key management with 100% in cold storage and regular penetration testing. Compliance: N/A. Incident history: No known compromises.

Insurance (9.0 vs 1.0)

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.

Coldcard offers None — self-custody hardware via N/A. Hardware wallet. Full user responsibility.

Regulatory (8.5 vs 1.0)

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

Coldcard holds N/A — hardware manufacturer and is not a qualified custodian operating in Canada. Coinkite Inc. Bitcoin-focused hardware company.

Fee Transparency (7.5 vs 9.5)

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

Coldcard charges None in annual custody fees with Network fees only per transaction. Bitcoin-only by design. Air-gapped signing via microSD.

Track Record (8.0 vs 8.0)

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

Coldcard was founded in 2018 and is headquartered in Toronto, Canada. AUM: N/A (hardware manufacturer). Incident history: No known compromises.

Withdrawal Flexibility (8.5 vs 9.0)

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

Coldcard withdrawal fees: Network fees only. Minimum account: ~$148 (Mk4) / ~$99 (Q1). Supported assets: Bitcoin only.

Reporting & Audit (8.5 vs 2.0)

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

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

Counterparty Diversification (10.0 vs 9.5)

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.).

Coldcard is a cold storage / hardware provider. Key management: Air-gapped Bitcoin-only hardware wallet. Secure element. MicroSD transaction signing..

Fees

Fee Comparison

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

Fee Type	Onramp	Coldcard
Setup Fee	Contact for pricing	$99-$148 (device purchase)
Annual Custody	Contact for pricing	None
Transaction	0.50% per trade (brokerage)	Network fees only
Withdrawal	Contact for pricing	Network fees only

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

Coldcard: Bitcoin-only by design. Air-gapped signing via microSD.

Features

Feature Comparison

Checklist of features across both providers.

Feature	Onramp	Coldcard
1.5% cashback card	✓	✗
5% APY on cash balances	✓	✗
Air-gapped operation	✗	✓
Bitcoin brokerage services (Onramp Finance)	✓	✗
Dice roll entropy	✗	✓
Duress PIN	✗	✓
Institutional-grade security and compliance	✓	✗
Multi-Institution Custody across multiple regulated custodians	✓	✗
Multisig native	✗	✓
No single point of failure	✓	✗
PSBT support	✗	✓
Secure element	✗	✓
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

Coldcard is better if you…

✓Are a bitcoin maximalists
✓Are a security experts
✓Are a air-gap enthusiasts
✓Are a advanced users
✓Want: Gold standard for Bitcoin hardware security
✓Want: True air-gapped operation
✓Want: Duress PIN and security features

FAQ

Frequently Asked Questions

Is Onramp or Coldcard better for Bitcoin custody?

Onramp scores 8.7 vs 5.9 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 Coldcard suits Bitcoin maximalists and Security experts.

What is the difference between Onramp and Coldcard?

Onramp is a multi-institution custody provider, while Coldcard is a cold storage / hardware provider. Onramp excels in Counterparty Diversification, whereas Coldcard is strongest in Security.

How do Onramp and Coldcard fees compare?

Onramp charges Contact for pricing annual custody fees with 0.50% per trade (brokerage) transaction fees. Coldcard charges None annual custody fees with Network fees only transaction fees.

Which is more secure, Onramp or Coldcard?

Onramp scores 9.5/10 for security while Coldcard scores 9.5/10. Onramp uses Multi-institution distributed key management, and Coldcard uses Air-gapped hardware wallet with secure element.