Coinbase vs NYDIG
Head-to-head Bitcoin custodian comparison - qualified status, insurance, cold storage, and fees
Quick Answer
Coinbase publishes a $320M insurance policy; NYDIG does not disclose a figure. Coinbase keeps more of its holdings in cold storage (98% versus 95%). Coinbase runs a hosted custody model, while NYDIG uses third-party.
At a Glance
| Metric | Coinbase | NYDIG |
|---|---|---|
| Qualified Custodian | Yes | – |
| Insurance Coverage | $320M insurance policy, FDIC on USD balances | Commercial crime insurance covering digital assets held in custody; coverage levels disclosed to institutional clients under NDA. |
| Cold Storage | 98% cold storage Winner | 95%+ |
| Proof of Reserves | No Tie | No Tie |
| Custody Fee | Coinbase Prime Custody: 0.04-0.10% annual fee based on AUM. $1M minimum for institutional accounts. | Contact for institutional pricing |
| Minimum Balance | $1,000,000 for Prime Custody Tie | $1,000,000 Tie |
| Audit Frequency | Annual SOC audits, SEC reporting (public company) Tie | Annual SOC 2 Type II audit; ongoing bank-level regulatory examinations through Stone Ridge Holdings Tie |
| Custody Model | Hosted Custody | Third-Party |
| Asset Segregation | Yes | – |
| Licenses | NYDFS BitLicense, registered MSB with FinCEN, state money transmitter licenses | NYDFS BitLicense; OCC-supervised bank holding company regulatory framework |
| Jurisdiction | United States (NYDFS-regulated) | United States (New York) |
| Quality Score | 9.0 Winner | 8.5 |
| Multi-Sig Support | No Tie | No Tie |
| Hardware Wallet Support | No Tie | No Tie |
| Institutional Services | Yes Winner | No |
| API Access | Yes Winner | No |
| Mobile App | Yes Winner | No |
| KYC Required | Yes | Yes |
| Bitcoin Only | No | No |
| Supported Assets | BTC, ETH, SOL, XRP, ADA, DOGE, 200+ digital assets | – |
| Withdrawal Limits | Custom institutional limits | – |
| Established | 2012 | – |
Key Differences
Cold Storage Split
Coinbase keeps 98% of assets offline versus 95% at NYDIG. A larger cold allocation reduces exposure to remote compromise, though it can also mean slower withdrawals, since moving funds requires an offline signing process.
Which Is Right For You?
US institutions requiring qualified custodian status, maximum insurance coverage, and the accountability that comes with a publicly traded, NYDFS-regulated custodian.
Banks, insurance companies, and institutional investors seeking a Bitcoin-only custodian with bank-level regulatory backing and deep experience serving regulated financial institutions.
Frequently Asked Questions
What is the difference between Coinbase and NYDIG?
Which has more insurance coverage, Coinbase or NYDIG?
Is Coinbase or NYDIG a qualified custodian?
Can I use both Coinbase and NYDIG?
Explore More
Custodian details (qualified status, insurance, cold storage, audit cadence, and fees) are sourced from provider disclosures and public regulatory filings, and reviewed by the 21Rates team.
Data as of May 1, 2026.
This comparison is for informational purposes only and does not constitute financial or investment advice. Insurance coverage is typically pooled across all clients rather than allocated per account, and policy terms, limits, and exclusions vary. Confirm current terms directly with each provider before depositing assets.