How Long Does It Take to Open an Onramp Account?
September 18, 2024
You can open an Onramp account in a few minutes. Signup is self-service: enter your email, verify it, and complete identity verification, which is usually instant, and you go straight to your dashboard. You can activate Multi-Institution Custody from your dashboard the same day: a video verification, the agreements, and a short BitGo video call, and your vault is created as soon as those steps are done. Creating an account is free, and Finance and Core have no minimum.
When you activate Multi-Institution Custody, Onramp facilitates your onboarding directly with the other two institutions that protect your vault, so you have a direct relationship with each of them: BitGo, where you sign the custodial services agreement (plus the trading services agreement where eligible) and schedule a video verification session with their client services team, and CoinCover, which completes automatically and sends a welcome pack explaining its role in your vault. These institutional onboardings are usually completed within the same business day.
Once each institution that protects your vault has onboarded you, Onramp creates your Multi-Institution Custody vault and opens your user portal. The result is a personal vault where no single institution, including Onramp, can move your bitcoin alone.
Frequently Asked Questions
How long does it take to open an Onramp account?
A few minutes. Enter your email, verify it, and complete identity verification, which is usually instant, and you go straight to your dashboard.
What do I need to sign up?
A valid email address and identity verification: your full legal name, phone number, legal address, a government-issued ID and a selfie. US clients also provide a Social Security number; international clients don't need one.
How long until my Multi-Institution Custody vault is ready?
You can activate it the same day. Activation adds a video verification, the agreements, and a short BitGo video call, and your vault is created as soon as those steps are done.
Do I onboard separately with BitGo and CoinCover?
Yes, by design. Each institution that protects your vault onboards you directly, and Onramp coordinates the steps.
How long does a Bitcoin IRA take?
Most clients complete IRA setup within 5 to 7 business days.
Does it cost anything to open an account?
No. Creating an Onramp account is free, and Finance and Core have no minimum. You only pay for the products you use.
How long does a business account take?
Businesses can be onboarded within one business day.
This episode is editorial and educational content. Onramp does not provide tax, legal, or investment advice. Bitcoin is volatile and may lose value. Past performance does not guarantee future results.