Onramp vs Trezor — Head-to-Head Custody Comparison

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

Verdict

Quick Verdict

Onramp scores 8.7 vs Trezor's 6.1. Onramp leads in 5 of 8 categories.

Onramp is better suited for Family offices, RIAs, HNW individuals. Trezor is better suited for Open-source advocates, Privacy-focused users, Long-term holders.

8.7

Very GoodCustody Score

Onramp

6.1

FairCustody Score

Trezor

Scores

Score Comparison

Weighted scores across all 8 custody criteria.

Criterion	Weight	Onramp	Trezor	Winner
Security	20%	9.5	8.5	Onramp
Insurance	15%	9.0	1.0	Onramp
Regulatory	15%	8.5	2.0	Onramp
Fee Transparency	10%	7.5	9.5	Trezor
Track Record	15%	8.0	9.0	Trezor
Withdrawal Flexibility	10%	8.5	9.5	Trezor
Reporting & Audit	10%	8.5	2.0	Onramp
Counterparty Diversification	5%	10.0	9.0	Onramp
Overall Score	100%	8.7	6.1	Onramp

Visual

Score Radar

Visual overlay of Onramp and Trezor across all categories.

OnrampTrezor

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.

Trezor uses Open-source hardware wallet key management with 100% in cold storage and regular penetration testing. Compliance: Open-source audited. Incident history: Physical extraction vulnerability (patched). No remote compromises..

Insurance (9.0 vs 1.0)

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.

Trezor offers None — self-custody hardware via N/A. Hardware wallet. Full user responsibility.

Regulatory (8.5 vs 2.0)

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

Trezor holds N/A — hardware manufacturer and is not a qualified custodian operating in Czech Republic (EU). SatoshiLabs — consumer electronics.

Fee Transparency (7.5 vs 9.5)

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

Trezor charges None in annual custody fees with Network fees only per transaction. One-time purchase. Fully open-source. Free Trezor Suite software.

Track Record (8.0 vs 9.0)

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

Trezor was founded in 2013 and is headquartered in Prague, Czech Republic. AUM: N/A (hardware manufacturer). Incident history: Physical extraction vulnerability (patched). No remote compromises..

Withdrawal Flexibility (8.5 vs 9.5)

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

Trezor withdrawal fees: Network fees only. Minimum account: ~$69 (Model One) / ~$219 (Model T) / ~$169 (Safe 3). Supported assets: Bitcoin, Ethereum, 1,800+ cryptocurrencies.

Reporting & Audit (8.5 vs 2.0)

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

Trezor: SOC compliance is Open-source audited. Not classified as a qualified custodian.

Counterparty Diversification (10.0 vs 9.0)

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.).

Trezor is a cold storage / hardware provider. Key management: Open-source hardware wallet. Keys stored on device. Trezor Suite for management..

Fees

Fee Comparison

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

Fee Type	Onramp	Trezor
Setup Fee	Contact for pricing	$69-$219 (device purchase)
Annual Custody	Contact for pricing	None
Transaction	0.50% per trade (brokerage)	Network fees only
Withdrawal	Contact for pricing	Network fees only

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

Trezor: One-time purchase. Fully open-source. Free Trezor Suite software.

Features

Feature Comparison

Checklist of features across both providers.

Feature	Onramp	Trezor
1.5% cashback card	✓	✗
5% APY on cash balances	✓	✗
Bitcoin brokerage services (Onramp Finance)	✓	✗
Coin control	✗	✓
Fully open-source	✗	✓
Institutional-grade security and compliance	✓	✗
Multi-Institution Custody across multiple regulated custodians	✓	✗
No single point of failure	✓	✗
Shamir backup (SLIP39)	✗	✓
Tor integration	✗	✓
Touchscreen (Model T)	✗	✓
Trezor Suite desktop app	✗	✓
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

Trezor is better if you…

✓Are a open-source advocates
✓Are a privacy-focused users
✓Are a long-term holders
✓Are a technically-inclined users
✓Want: First hardware wallet — longest track record
✓Want: Fully open-source firmware and software
✓Want: Shamir backup for better key security

FAQ

Frequently Asked Questions

Is Onramp or Trezor better for Bitcoin custody?

Onramp scores 8.7 vs 6.1 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 Trezor suits Open-source advocates and Privacy-focused users.

What is the difference between Onramp and Trezor?

Onramp is a multi-institution custody provider, while Trezor is a cold storage / hardware provider. Onramp excels in Counterparty Diversification, whereas Trezor is strongest in Fee Transparency.

How do Onramp and Trezor fees compare?

Onramp charges Contact for pricing annual custody fees with 0.50% per trade (brokerage) transaction fees. Trezor charges None annual custody fees with Network fees only transaction fees.

Which is more secure, Onramp or Trezor?

Onramp scores 9.5/10 for security while Trezor scores 8.5/10. Onramp uses Multi-institution distributed key management, and Trezor uses Open-source hardware wallet.