Onramp vs Strike — Head-to-Head Custody Comparison

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

Verdict

Quick Verdict

Onramp scores 8.7 vs Strike's 5.7. Onramp leads in 7 of 8 categories.

Onramp is better suited for Family offices, RIAs, HNW individuals. Strike is better suited for Lightning Network users, Fee-conscious buyers, International remittance users.

8.7

Very GoodCustody Score

Onramp

5.7

Below AverageCustody Score

Strike

Scores

Score Comparison

Weighted scores across all 8 custody criteria.

Criterion	Weight	Onramp	Strike	Winner
Security	20%	9.5	6.5	Onramp
Insurance	15%	9.0	3.0	Onramp
Regulatory	15%	8.5	6.5	Onramp
Fee Transparency	10%	7.5	7.0	Onramp
Track Record	15%	8.0	6.0	Onramp
Withdrawal Flexibility	10%	8.5	9.0	Strike
Reporting & Audit	10%	8.5	4.0	Onramp
Counterparty Diversification	5%	10.0	2.0	Onramp
Overall Score	100%	8.7	5.7	Onramp

Visual

Score Radar

Visual overlay of Onramp and Strike across all categories.

OnrampStrike

Deep Dive

Category-by-Category Analysis

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

Security (9.5 vs 6.5)

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.

Strike uses Exchange-managed custody key management with Not disclosed in cold storage and regular penetration testing. Compliance: N/A. Incident history: No incidents.

Insurance (9.0 vs 3.0)

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.

Strike offers Not publicly disclosed via N/A. Regulated US money transmitter. Custodial for Bitcoin held on platform.

Regulatory (8.5 vs 6.5)

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

Strike holds FinCEN MSB, State money transmitter licenses and is not a qualified custodian operating in United States. US-regulated. Focus on payments and Lightning Network.

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

Strike charges None in annual custody fees with ~0.0-0.99% (variable spread) per transaction. Among lowest Bitcoin buying fees. Free Lightning withdrawals.

Track Record (8.0 vs 6.0)

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

Strike was founded in 2020 and is headquartered in Chicago, IL. 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.

Strike withdrawal fees: Free via Lightning / Network fees on-chain. Minimum account: No minimum. Supported assets: Bitcoin only.

Reporting & Audit (8.5 vs 4.0)

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

Strike: SOC compliance is N/A. 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.).

Strike is a exchange custody provider. Key management: Bitcoin purchase and Lightning Network payment app..

Fees

Fee Comparison

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

Fee Type	Onramp	Strike
Setup Fee	Contact for pricing	Free
Annual Custody	Contact for pricing	None
Transaction	0.50% per trade (brokerage)	~0.0-0.99% (variable spread)
Withdrawal	Contact for pricing	Free via Lightning / Network fees on-chain

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

Strike: Among lowest Bitcoin buying fees. Free Lightning withdrawals.

Features

Feature Comparison

Checklist of features across both providers.

Feature	Onramp	Strike
1.5% cashback card	✓	✗
5% APY on cash balances	✓	✗
Bitcoin brokerage services (Onramp Finance)	✓	✗
Bitcoin payment rails	✗	✓
Clean mobile app	✗	✓
Instant Bitcoin purchases	✗	✓
Institutional-grade security and compliance	✓	✗
International transfers	✗	✓
Lightning Network native	✗	✓
Multi-Institution Custody across multiple regulated custodians	✓	✗
Near-zero buying fees	✗	✓
No single point of failure	✓	✗
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

Strike is better if you…

✓Are a lightning network users
✓Are a fee-conscious buyers
✓Are a international remittance users
✓Are a bitcoin payment users
✓Want: Lowest Bitcoin buying fees
✓Want: Lightning Network integration
✓Want: Instant purchases

FAQ

Frequently Asked Questions

Is Onramp or Strike better for Bitcoin custody?

Onramp scores 8.7 vs 5.7 in our weighted Custody Score. Onramp leads in 7 of 8 scoring categories. However, the best choice depends on your specific needs: Onramp is best for Family offices and RIAs, while Strike suits Lightning Network users and Fee-conscious buyers.

What is the difference between Onramp and Strike?

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

How do Onramp and Strike fees compare?

Onramp charges Contact for pricing annual custody fees with 0.50% per trade (brokerage) transaction fees. Strike charges None annual custody fees with ~0.0-0.99% (variable spread) transaction fees.

Which is more secure, Onramp or Strike?

Onramp scores 9.5/10 for security while Strike scores 6.5/10. Onramp uses Multi-institution distributed key management, and Strike uses Exchange-managed custody.