Compare the cost of multi-institution Bitcoin custody (Onramp-style, distributed across three independent regulated custodians) against single-custodian qualified custody (Coinbase Custody, BitGo, Fidelity Digital Assets) over a multi-decade horizon. The calculator models direct fees; the architectural risk-reduction benefit of distributed custody is structural and is not dollar-weighted in this output.
Multi-institution custody distributes keys across multiple regulated custodians, structurally addressing single-custodian concentration risk. The calculator models the direct fee differential; the architectural risk-reduction benefit of distributed custody is not dollar-weighted in this output.
The dollar differential is only part of the comparison. Multi-institution custody distributes failure risk across independent custodians; single-custodian arrangements concentrate failure risk at one institution with high regulatory standing. The architectural choice should be evaluated for risk profile in addition to dollar cost.
Even when multi-institution custody is more expensive at the headline fee level, holders may prefer it for the structural risk reduction. The reverse also applies: single-custodian arrangements may be acceptable for holders comfortable with the concentration risk.