Onramp vs Gemini — Head-to-Head Custody Comparison

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

Verdict

Quick Verdict

Onramp scores 8.7 vs Gemini's 7.9. Onramp leads in 5 of 8 categories.

Onramp is better suited for Family offices, RIAs, HNW individuals. Gemini is better suited for Compliance-focused users, NY-based investors, Security-conscious traders.

8.7

Very GoodCustody Score

Onramp

7.9

GoodCustody Score

Gemini

Scores

Score Comparison

Weighted scores across all 8 custody criteria.

Criterion	Weight	Onramp	Gemini	Winner
Security	20%	9.5	8.5	Onramp
Insurance	15%	9.0	7.5	Onramp
Regulatory	15%	8.5	9.0	Gemini
Fee Transparency	10%	7.5	7.0	Onramp
Track Record	15%	8.0	7.5	Onramp
Withdrawal Flexibility	10%	8.5	8.5	Tie
Reporting & Audit	10%	8.5	9.0	Gemini
Counterparty Diversification	5%	10.0	2.0	Onramp
Overall Score	100%	8.7	7.9	Onramp

Visual

Score Radar

Visual overlay of Onramp and Gemini across all categories.

OnrampGemini

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 uses Institutional hot/cold custody key management with 95%+ in cold storage and regular penetration testing. Compliance: SOC 2 Type 2. Incident history: Gemini Earn issues (Genesis lending). Exchange itself unbreached..

Insurance (9.0 vs 7.5)

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 offers $200M+ hot wallet insurance via Leading carriers. One of the highest disclosed insurance amounts among exchanges.

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 holds NY Trust Company (NYDFS), SOC 2 Type 2, Multiple state licenses and is a qualified custodian operating in United States. NY Trust Company charter — highest US regulatory standard for crypto.

Fee Transparency (7.5 vs 7.0)

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

Gemini charges None in annual custody fees with 0.2-0.4% maker/taker (ActiveTrader) per transaction. 10 free crypto withdrawals per month. ActiveTrader has competitive fees.

Track Record (8.0 vs 7.5)

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

Gemini was founded in 2014 and is headquartered in New York, NY. AUM: $30B+ in assets. Incident history: Gemini Earn issues (Genesis lending). Exchange itself unbreached..

Withdrawal Flexibility (8.5 vs 8.5)

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

Gemini withdrawal fees: Free withdrawals (10/month). Minimum account: $1 minimum. Supported assets: Bitcoin, Ethereum, 100+ 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.

Gemini: 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.).

Gemini is a exchange custody provider. Key management: Exchange-managed custody with SOC 2 Type 2 certified infrastructure..

Fees

Fee Comparison

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

Fee Type	Onramp	Gemini
Setup Fee	Contact for pricing	Free
Annual Custody	Contact for pricing	None
Transaction	0.50% per trade (brokerage)	0.2-0.4% maker/taker (ActiveTrader)
Withdrawal	Contact for pricing	Free withdrawals (10/month)

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

Gemini: 10 free crypto withdrawals per month. ActiveTrader has competitive fees.

Features

Feature Comparison

Checklist of features across both providers.

Feature	Onramp	Gemini
$200M+ insurance	✗	✓
1.5% cashback card	✓	✗
10 free withdrawals/month	✗	✓
5% APY on cash balances	✓	✗
ActiveTrader low fees	✗	✓
Bitcoin brokerage services (Onramp Finance)	✓	✗
Gemini Dollar (GUSD)	✗	✓
Institutional-grade security and compliance	✓	✗
Multi-Institution Custody across multiple regulated custodians	✓	✗
NY Trust Company charter	✗	✓
No single point of failure	✓	✗
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 is better if you…

✓Are a compliance-focused users
✓Are a ny-based investors
✓Are a security-conscious traders
✓Are a stablecoin users
✓Want: NY Trust Company — highest regulatory standard
✓Want: SOC 2 Type 2 certified
✓Want: $200M+ disclosed insurance

FAQ

Frequently Asked Questions

Is Onramp or Gemini better for Bitcoin custody?

Onramp scores 8.7 vs 7.9 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 suits Compliance-focused users and NY-based investors.

What is the difference between Onramp and Gemini?

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

How do Onramp and Gemini fees compare?

Onramp charges Contact for pricing annual custody fees with 0.50% per trade (brokerage) transaction fees. Gemini charges None annual custody fees with 0.2-0.4% maker/taker (ActiveTrader) transaction fees.

Which is more secure, Onramp or Gemini?

Onramp scores 9.5/10 for security while Gemini scores 8.5/10. Onramp uses Multi-institution distributed key management, and Gemini uses Institutional hot/cold custody.