Onramp vs Gemini Custody — Head-to-Head Custody Comparison

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

Verdict

Quick Verdict

Onramp scores 8.7 vs Gemini Custody's 7.7. Onramp leads in 5 of 8 categories.

Onramp is better suited for Family offices, RIAs, HNW individuals. Gemini Custody is better suited for Institutions, Funds, Family offices.

8.7

Very GoodCustody Score

Onramp

7.7

GoodCustody Score

Gemini Custody

Scores

Score Comparison

Weighted scores across all 8 custody criteria.

Criterion	Weight	Onramp	Gemini Custody	Winner
Security	20%	9.5	8.5	Onramp
Insurance	15%	9.0	7.0	Onramp
Regulatory	15%	8.5	9.0	Gemini Custody
Fee Transparency	10%	7.5	7.5	Tie
Track Record	15%	8.0	7.0	Onramp
Withdrawal Flexibility	10%	8.5	7.5	Onramp
Reporting & Audit	10%	8.5	9.0	Gemini Custody
Counterparty Diversification	5%	10.0	2.0	Onramp
Overall Score	100%	8.7	7.7	Onramp

Visual

Score Radar

Visual overlay of Onramp and Gemini Custody across all categories.

OnrampGemini Custody

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.

Gemini Custody uses HSM-based cold storage key management with Majority cold in cold storage and regular penetration testing. Compliance: SOC 1 Type 2 + SOC 2 Type 2. Incident history: Gemini Earn program issues in 2022 (separate from custody). No custody-specific 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.

Gemini Custody offers Insurance on all crypto stored in hot wallet. Cold storage coverage varies. via Top insurance providers. Gemini is one of few exchanges offering insurance on online assets. Cold storage insurance details available to institutional clients.

Regulatory (8.5 vs 9.0)

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

Gemini Custody holds New York Trust Charter, SOC 1 Type 2, SOC 2 Type 2 and is a qualified custodian operating in United States. New York State Department of Financial Services regulated trust company. First crypto exchange to achieve both SOC 1 and SOC 2 Type 2.

Fee Transparency (7.5 vs 7.5)

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

Gemini Custody charges 0.40% AUM annually (40bps) — tiered in annual custody fees with Varies by volume per transaction. Lower than Coinbase Custody's 50bps for comparable service.

Track Record (8.0 vs 7.0)

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

Gemini Custody was founded in 2019 and is headquartered in New York, NY. AUM: Not publicly disclosed. Incident history: Gemini Earn program issues in 2022 (separate from custody). No custody-specific incidents..

Withdrawal Flexibility (8.5 vs 7.5)

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

Gemini Custody withdrawal fees: Network fees. Minimum account: Contact for pricing. Supported assets: Bitcoin, Ethereum, 70+ 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.

Gemini Custody: SOC compliance is SOC 1 Type 2 + 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.).

Gemini Custody is a qualified custodian provider. Key management: Proprietary cold storage system with HSMs and multi-layer security protocols..

Fees

Fee Comparison

Side-by-side fee breakdown for Onramp and Gemini Custody.

Fee Type	Onramp	Gemini Custody
Setup Fee	Contact for pricing	Contact for pricing
Annual Custody	Contact for pricing	0.40% AUM annually (40bps) — tiered
Transaction	0.50% per trade (brokerage)	Varies by volume
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

Gemini Custody: Lower than Coinbase Custody's 50bps for comparable service.

Features

Feature Comparison

Checklist of features across both providers.

Feature	Onramp	Gemini Custody
1.5% cashback card	✓	✗
5% APY on cash balances	✓	✗
70+ asset support	✗	✓
Available in all 50 US states	✗	✓
Bitcoin brokerage services (Onramp Finance)	✓	✗
Cold storage custody	✗	✓
Hardware security key support (WebAuthn)	✗	✓
Institutional-grade security and compliance	✓	✗
Integration with Gemini exchange	✗	✓
Multi-Institution Custody across multiple regulated custodians	✓	✗
No single point of failure	✓	✗
SOC 1 & SOC 2 Type 2 certified	✗	✓
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

Gemini Custody is better if you…

✓Are a institutions
✓Are a funds
✓Are a family offices
✓Are a fiduciaries
✓Want: First crypto exchange to achieve SOC 1 + SOC 2 Type 2
✓Want: Competitive custody fee at 40bps
✓Want: Available in all 50 US states

FAQ

Frequently Asked Questions

Is Onramp or Gemini Custody better for Bitcoin custody?

Onramp scores 8.7 vs 7.7 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 Gemini Custody suits Institutions and Funds.

What is the difference between Onramp and Gemini Custody?

Onramp is a multi-institution custody provider, while Gemini Custody is a qualified custodian provider. Onramp excels in Counterparty Diversification, whereas Gemini Custody is strongest in Regulatory.

How do Onramp and Gemini Custody fees compare?

Onramp charges Contact for pricing annual custody fees with 0.50% per trade (brokerage) transaction fees. Gemini Custody charges 0.40% AUM annually (40bps) — tiered annual custody fees with Varies by volume transaction fees.

Which is more secure, Onramp or Gemini Custody?

Onramp scores 9.5/10 for security while Gemini Custody scores 8.5/10. Onramp uses Multi-institution distributed key management, and Gemini Custody uses HSM-based cold storage.