Trading & Custody FAQ

Lantern now supports crypto trading and custody directly inside the platform. Below are answers to the most common questions about supported assets, custody, fees, limits, eligibility, internal transfers, and loan-related features.

1. What can I do with Lantern Trading & Custody?

You can buy, sell, hold, and manage supported crypto assets directly inside Lantern.

You can also deposit and hold USD in your Lantern trading balance through your connected bank account, use USD toward loan payments, move funds between your trading wallet and loan account, and borrow loan proceeds directly into your trading balance.

Please note that Lantern is not a bank account, and funds held with Lantern are not FDIC insured.

2. Which assets are supported?

At launch, Lantern supports trading for BTC, ETH, XRP, SOL, LTC, DOGE, LINK, and XLM.

We expect to add more supported assets soon.

3. What are the trading fees?

Lantern charges a 1% fee on buys and sells.

4. What are the current trading limits?

• Daily buy limit: $25,000

• Monthly buy limit: $500,000

• Daily sell limit: $100,000

We expect to increase these limits over time.

5. Who can use Lantern Trading & Custody?

Trading and custody are available to eligible individual Lantern users.

Trading and custody are not currently available to New York residents, Vermont residents, or business users. We expect to support New York residents and business users in the coming months, with Vermont expected to follow later.

6. Do existing Lantern users need to complete KYC again?

No. Existing Lantern users will automatically get access to trading. New users will complete Lantern’s standard KYC process and agree to the additional trading and custody terms.

7. Who powers Lantern Trading & Custody?

Lantern’s trading and custody product is powered by Coinme, with custody infrastructure provided by Fireblocks.

8. What is Fireblocks?

Fireblocks is an institutional digital asset custody and infrastructure provider used by many crypto and financial services companies to help securely store and transfer digital assets.

For Lantern Trading & Custody, Fireblocks provides custody infrastructure for trading assets. This is separate from Lantern loan collateral and loan account assets, which continue to be held with BitGo.

You can learn more about Fireblocks here.

9. Are my loan assets still held with BitGo?

Yes. Your Lantern loan collateral and loan account assets will continue to be held with BitGo. Trading and custody assets are separate from your loan collateral custody.

10. What insurance coverage applies to Fireblocks custody infrastructure?

Fireblocks maintains institutional insurance policies, including digital asset crime coverage and cyber / professional liability coverage, subject to policy terms, limits, and exclusions.

Fireblocks maintains Digital Asset Crime Insurance covering digital assets stolen under the definition of the policy following an external cyber breach of Fireblocks software or malicious / intentional misbehavior or fraud by employees. The aggregate policy limit is $30M.

Fireblocks also maintains Errors and Omissions / Professional Liability Insurance and Cyber / Privacy Liability Insurance covering certain liability, cyber, privacy, and computer-related events as defined in the applicable policies. The combined aggregate policy limit for these policies is $12.5.

Coverage is subject to the terms, conditions, exclusions, and limits of the applicable policies.

11. Can I use USD in my trading balance to pay my loan?

Yes. Users can hold USD in their Lantern trading balance and use it toward loan payments, including principal or interest.

12. Can I move funds between my trading wallet and my loan account?

Yes. Transfers from Trading -> Loans are designed to be fast.

Transfers from Loans -> Trading involve BitGo custody flows and may take more time, depending on BitGo processing, network activity, approvals, and operational review.

13. Can I borrow loan funds directly into my trading balance?

Yes. Users can choose to receive loan proceeds directly into their Lantern trading balance.

14. Can business users trade?

Not yet. Trading and custody are currently available for eligible individual users. Business-user support is expected in the coming months.

15. Is Lantern Trading available in New York or Vermont?

Not yet. Trading and custody are currently unavailable for residents of New York and Vermont. We expect New York support to become available in the coming months.

16. Who should I contact if I have an issue?

You can reach Lantern’s customer support team at [email protected] or by call/text at 415-365-0100.