Onramp vs River — Head-to-Head Custody Comparison

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

Verdict

Quick Verdict

Onramp scores 8.7 vs River's 6.6. Onramp leads in 6 of 8 categories.

Onramp is better suited for Family offices, RIAs, HNW individuals. River is better suited for Bitcoin-only investors, DCA enthusiasts, Beginners.

8.7

Very GoodCustody Score

Onramp

6.6

FairCustody Score

River

Scores

Score Comparison

Weighted scores across all 8 custody criteria.

Criterion	Weight	Onramp	River	Winner
Security	20%	9.5	7.5	Onramp
Insurance	15%	9.0	4.0	Onramp
Regulatory	15%	8.5	7.0	Onramp
Fee Transparency	10%	7.5	7.5	Tie
Track Record	15%	8.0	7.0	Onramp
Withdrawal Flexibility	10%	8.5	9.0	River
Reporting & Audit	10%	8.5	6.0	Onramp
Counterparty Diversification	5%	10.0	2.0	Onramp
Overall Score	100%	8.7	6.6	Onramp

Visual

Score Radar

Visual overlay of Onramp and River across all categories.

OnrampRiver

Deep Dive

Category-by-Category Analysis

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

Security (9.5 vs 7.5)

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.

River uses Proprietary cold storage key management with Majority cold in cold storage and regular penetration testing. Compliance: SOC 2. Incident history: No incidents.

Insurance (9.0 vs 4.0)

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.

River offers Not explicitly disclosed via N/A. US-regulated Bitcoin-only platform.

Regulatory (8.5 vs 7.0)

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

River holds FinCEN MSB, State money transmitter licenses and is not a qualified custodian operating in United States. US-regulated Bitcoin financial services company.

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

River charges None in annual custody fees with 1.0-1.5% (spread) per transaction. Zero-fee recurring buys. Spread-based pricing. Free withdrawals.

Track Record (8.0 vs 7.0)

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

River was founded in 2019 and is headquartered in San Francisco, CA. AUM: Not publicly disclosed. Incident history: No incidents.

Withdrawal Flexibility (8.5 vs 9.0)

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

River withdrawal fees: Free Bitcoin withdrawals. Minimum account: No minimum. Supported assets: Bitcoin only.

Reporting & Audit (8.5 vs 6.0)

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

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

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.).

River is a exchange custody provider. Key management: Bitcoin-only exchange with proprietary custody infrastructure..

Fees

Fee Comparison

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

Fee Type	Onramp	River
Setup Fee	Contact for pricing	Free
Annual Custody	Contact for pricing	None
Transaction	0.50% per trade (brokerage)	1.0-1.5% (spread)
Withdrawal	Contact for pricing	Free Bitcoin withdrawals

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

River: Zero-fee recurring buys. Spread-based pricing. Free withdrawals.

Features

Feature Comparison

Checklist of features across both providers.

Feature	Onramp	River
1.5% cashback card	✓	✗
5% APY on cash balances	✓	✗
Bitcoin brokerage services (Onramp Finance)	✓	✗
Bitcoin education resources	✗	✓
Bitcoin-only focus	✗	✓
Excellent mobile app	✗	✓
Free Bitcoin withdrawals	✗	✓
Institutional-grade security and compliance	✓	✗
Lightning Network support	✗	✓
Multi-Institution Custody across multiple regulated custodians	✓	✗
No single point of failure	✓	✗
White-glove onboarding for institutions	✓	✗
Zero-fee recurring purchases	✗	✓

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

River is better if you…

✓Are a bitcoin-only investors
✓Are a dca enthusiasts
✓Are a beginners
✓Are a us-based bitcoiners
✓Want: Bitcoin-only — aligned with Bitcoin ethos
✓Want: Zero-fee recurring purchases
✓Want: Free Bitcoin withdrawals

FAQ

Frequently Asked Questions

Is Onramp or River better for Bitcoin custody?

Onramp scores 8.7 vs 6.6 in our weighted Custody Score. Onramp leads in 6 of 8 scoring categories. However, the best choice depends on your specific needs: Onramp is best for Family offices and RIAs, while River suits Bitcoin-only investors and DCA enthusiasts.

What is the difference between Onramp and River?

Onramp is a multi-institution custody provider, while River is a exchange custody provider. Onramp excels in Counterparty Diversification, whereas River is strongest in Withdrawal Flexibility.

How do Onramp and River fees compare?

Onramp charges Contact for pricing annual custody fees with 0.50% per trade (brokerage) transaction fees. River charges None annual custody fees with 1.0-1.5% (spread) transaction fees.

Which is more secure, Onramp or River?

Onramp scores 9.5/10 for security while River scores 7.5/10. Onramp uses Multi-institution distributed key management, and River uses Proprietary cold storage.