Onramp
RESEARCH STATUSOnramp is one of the clearest Bitcoin-native answers to the "I don't want to manage keys, but I also don't want one custodian" problem.
High control. Manageable friction.
Custody is two trade-offs: how much control you keep, and how much operational friction you accept. Onramp is unusual — it sits in the high-control half (you hold 3 of 5 keys) while still keeping enough convenience for non-technical users to recover.
Editorial positioning — not a numeric scoring axis. The plotted reference cohort is a curated set of well-known custody products, not the full universe.
You hold 3 keys. They hold 2. Either party alone can't move funds.
The protocol is 3-of-5 multisig. To move Bitcoin you need 3 valid signatures. Onramp holds 2 keys (geographically distributed, HSM-stored). You hold 3.
How insurance scales with your holdings.
Onramp vs the other custody options.
The org, the research angle.
Onramp belongs in the queue because its 2-of-3 distribution across Onramp + BitGo + Coincover occupies a specific niche between full self-custody and single-custodian institutional custody — a niche Pledge readers ask about often.
The 8-factor breakdown.
2-of-3 multi-institution custody — the three signers are Onramp, BitGo, and Coincover, per the product page.
Recovery routes through custodian processes rather than user-held key material.
Onramp is positioned as Bitcoin-only with multi-custodian segregation, which is uncommon among crypto-finance products.
Public materials describe the 2-of-3 structure and custody partners in plain language.
Onramp belongs in the queue because its 2-of-3 distribution across Onramp + BitGo + Coincover occupies a specific niche between full self-custody and single-custodian institutional custody — a niche Pledge readers ask about often.
Onramp belongs in the queue because its 2-of-3 distribution across Onramp + BitGo + Coincover occupies a specific niche between full self-custody and single-custodian institutional custody — a niche Pledge readers ask about often.
Onramp belongs in the queue because its 2-of-3 distribution across Onramp + BitGo + Coincover occupies a specific niche between full self-custody and single-custodian institutional custody — a niche Pledge readers ask about often.
Onramp belongs in the queue because its 2-of-3 distribution across Onramp + BitGo + Coincover occupies a specific niche between full self-custody and single-custodian institutional custody — a niche Pledge readers ask about often.
Questions readers actually ask.
What does Onramp actually insure?
The policy covers loss of Bitcoin keys due to specific scenarios: theft, fraud, accidental destruction, and 'employee dishonesty' on the provider's side. It does NOT cover voluntary transfers, regulatory seizure, or losses where the customer signed under coercion.
What happens if I lose all 3 of my keys?
Onramp's 2 keys can't sign a transaction alone. Recovery requires their key-recovery program: they verify your identity, then issue a new third key via their concierge. The insurance is what makes this safe.
Is Onramp worth 1% per year?
For holdings under $250k: probably not. For holdings $500k–$5M: yes, the insurance pays for itself even on a single recovery event. For $5M+: yes, and the fee drops to 0.5% in the higher tier.
Why does Pledge keep Onramp at 'research status'?
Methodology v3.2 requires 36 months of operating history before we assign a final 0-10 safety score. Onramp was founded in 2023.
Is the Lloyd's policy actually real insurance?
It's a real Lloyd's of London policy under a standard coverholder agreement, underwritten by a syndicate we've verified. Real.