Onramp vs Copper — Head-to-Head Custody Comparison

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

Verdict

Quick Verdict

Onramp scores 8.7 vs Copper's 7.1. Onramp leads in 8 of 8 categories.

Onramp is better suited for Family offices, RIAs, HNW individuals. Copper is better suited for Institutions, Hedge funds, Trading firms.

8.7

Very GoodCustody Score

Onramp

7.1

GoodCustody Score

Copper

Scores

Score Comparison

Weighted scores across all 8 custody criteria.

Criterion	Weight	Onramp	Copper	Winner
Security	20%	9.5	8.5	Onramp
Insurance	15%	9.0	7.0	Onramp
Regulatory	15%	8.5	7.5	Onramp
Fee Transparency	10%	7.5	5.0	Onramp
Track Record	15%	8.0	7.0	Onramp
Withdrawal Flexibility	10%	8.5	7.5	Onramp
Reporting & Audit	10%	8.5	7.5	Onramp
Counterparty Diversification	5%	10.0	3.0	Onramp
Overall Score	100%	8.7	7.1	Onramp

Visual

Score Radar

Visual overlay of Onramp and Copper across all categories.

OnrampCopper

Deep Dive

Category-by-Category Analysis

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

Security (9.5 vs 8.5)

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.

Copper uses MPC-based custody 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 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.

Copper offers Insurance coverage available via Lloyd's market. Institutional custody insurance available.

Regulatory (8.5 vs 7.5)

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

Copper holds UK regulatory permissions pending and is not a qualified custodian operating in United Kingdom. UK-based. Seeking full FCA authorization.

Fee Transparency (7.5 vs 5.0)

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

Copper charges Custom in annual custody fees with Custom per transaction. Enterprise pricing. ClearLoop reduces counterparty risk for trading.

Track Record (8.0 vs 7.0)

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

Copper was founded in 2018 and is headquartered in London, UK. AUM: Not publicly disclosed. Incident history: No incidents.

Withdrawal Flexibility (8.5 vs 7.5)

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

Copper withdrawal fees: Network fees. Minimum account: Institutional only. Supported assets: Bitcoin, Ethereum, 400+ assets.

Reporting & Audit (8.5 vs 7.5)

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

Copper: SOC compliance is SOC 2 Type 2. Not classified as a qualified custodian.

Counterparty Diversification (10.0 vs 3.0)

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.).

Copper is a qualified custodian provider. Key management: MPC-based custody. ClearLoop off-exchange settlement..

Fees

Fee Comparison

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

Fee Type	Onramp	Copper
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	Network fees

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

Copper: Enterprise pricing. ClearLoop reduces counterparty risk for trading.

Features

Feature Comparison

Checklist of features across both providers.

Feature	Onramp	Copper
1.5% cashback card	✓	✗
400+ asset support	✗	✓
5% APY on cash balances	✓	✗
Bitcoin brokerage services (Onramp Finance)	✓	✗
ClearLoop off-exchange trading	✗	✓
DeFi access from custody	✗	✓
Global institutional service	✗	✓
Institutional-grade security and compliance	✓	✗
MPC-based key management	✗	✓
Multi-Institution Custody across multiple regulated custodians	✓	✗
No single point of failure	✓	✗
Policy engine	✗	✓
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

Copper is better if you…

✓Are a institutions
✓Are a hedge funds
✓Are a trading firms
✓Are a asset managers
✓Want: ClearLoop — trade without moving assets to exchange
✓Want: MPC technology — no single point of failure
✓Want: SOC 2 Type 2 certified

FAQ

Frequently Asked Questions

Is Onramp or Copper better for Bitcoin custody?

Onramp scores 8.7 vs 7.1 in our weighted Custody Score. Onramp leads in 8 of 8 scoring categories. However, the best choice depends on your specific needs: Onramp is best for Family offices and RIAs, while Copper suits Institutions and Hedge funds.

What is the difference between Onramp and Copper?

Onramp is a multi-institution custody provider, while Copper is a qualified custodian provider. Onramp excels in Counterparty Diversification, whereas Copper is strongest in Security.

How do Onramp and Copper fees compare?

Onramp charges Contact for pricing annual custody fees with 0.50% per trade (brokerage) transaction fees. Copper charges Custom annual custody fees with Custom transaction fees.

Which is more secure, Onramp or Copper?

Onramp scores 9.5/10 for security while Copper scores 8.5/10. Onramp uses Multi-institution distributed key management, and Copper uses MPC-based custody.