River
Exchange CustodyRiver is a Bitcoin-only financial institution focused on providing the best Bitcoin buying experience. Zero-fee recurring purchases. Known for excellent customer service, Bitcoin education, and a clean mobile app.
Quick Verdict
With a Custody Score of 6.6/10, River is ranked #9 of 10 among exchange custody providers. Its strongest category is Withdrawal Flexibility and its weakest is Counterparty Diversification.
Analysis
Score Breakdown
The Custody Score is a weighted average across 8 criteria, each rated 1-10.
| Criterion | Score | Weight | Weighted |
|---|---|---|---|
| Security | 7.5 | 20% | 1.50 |
| Insurance | 4 | 15% | 0.60 |
| Regulatory | 7 | 15% | 1.05 |
| Fee Transparency | 7.5 | 10% | 0.75 |
| Track Record | 7 | 15% | 1.05 |
| Withdrawal Flexibility | 9 | 10% | 0.90 |
| Reporting & Audit | 6 | 10% | 0.60 |
| Counterparty Diversification | 2 | 5% | 0.10 |
| Total | 100% | 6.6 |
Key Features
- ✓Bitcoin-only focus
- ✓Zero-fee recurring purchases
- ✓Free Bitcoin withdrawals
- ✓Excellent mobile app
- ✓Lightning Network support
- ✓Bitcoin education resources
Fee Breakdown
| Setup Fee | Free |
| Annual Custody Fee | None |
| Transaction Fee | 1.0-1.5% (spread) |
| Withdrawal Fee | Free Bitcoin withdrawals |
| Notes | Zero-fee recurring buys. Spread-based pricing. Free withdrawals. |
Security Details
Key Management
Proprietary cold storage
Cold Storage
Majority cold
SOC Compliance
SOC 2
Penetration Testing
Yes
Incident History: No incidents
Insurance Coverage
Coverage
Not explicitly disclosed
Carrier
N/A
Details
US-regulated Bitcoin-only platform.
Regulatory Status
Licenses
- FinCEN MSB
- State money transmitter licenses
US-regulated Bitcoin financial services company.
Pros & Cons
Pros
- Bitcoin-only — aligned with Bitcoin ethos
- Zero-fee recurring purchases
- Free Bitcoin withdrawals
- Lightning Network support
- Excellent customer service
Cons
- Higher spread than large exchanges
- Bitcoin only — no altcoins
- Newer company (2019)
- Limited insurance information
- Single custodian risk