Difference between revisions of "ICP custody options"
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| − | == | + | ==Do you want maximum control of your keys?== |
| − | + | ===No, then use 3rd party custody solutions=== | |
| − | + | 3rd party custody solutions allow you to interact your ICP and trade-off consumer experience for control. The trade-off is simple: if you do not feel comfortable managing your own keys and are willing to have a third party have access to your keys for the sake of being hand-held through the process, then 3rd party solutions can be the right choice for you. | |
| − | |||
| − | + | Here are some examples: | |
| − | |||
| − | + | * [https://www.coinbase.com/ Coinbase] | |
| − | [[ | + | * [https://www.stoicwallet.com/ Stoic wallet] |
| + | * [https://www.sygnum.com/ Sygnum] | ||
| − | == | + | ===Yes, then use self-custody=== |
| + | * [[ICP Custody with NNS frontend dapp]] | ||
| + | * [[ICP custody with Ledger Nano]] | ||
| + | * ICP Custody with [https://github.com/dfinity/quill Quill] (Minimalistic ledger and governance toolkit for cold wallets) Networked computer | ||
| + | * [[ICP custody with seed phrase and air-gapped machine]] | ||
| − | + | ==Self-custody: Maximum ease option == | |
| − | [[ICP Custody with NNS frontend dapp]] | + | If you choose self-custody, the option which maximizes ease is: [[ICP Custody with NNS frontend dapp]]. |
| + | |||
| + | It consists of [https://medium.com/dfinity/internet-identity-the-end-of-usernames-and-passwords-ff45e4861bf7 Internet Identity] with the [https://nns.ic0.app/ NNS frontend dapp]. | ||
===Traits=== | ===Traits=== | ||
| − | |||
* Most convenient. Entirely web-based. No need to download or install anything. | * Most convenient. Entirely web-based. No need to download or install anything. | ||
* [https://nns.ic0.app/ NNS frontend dapp] has all the functionality you need | * [https://nns.ic0.app/ NNS frontend dapp] has all the functionality you need | ||
* This is a very common method | * This is a very common method | ||
* Ideal for people who want to want the easiest path to control their ICP | * Ideal for people who want to want the easiest path to control their ICP | ||
| + | * This custody solution has staking built-in if you want to stake as well | ||
| + | |||
| + | ==Self-custody: Maximum control option== | ||
| − | + | If you choose self-custody, the options which maximizes control are: | |
| − | + | * [[ICP custody with seed phrase and air-gapped machine]] | |
| + | * [[ICP custody with Ledger Nano]] | ||
===Traits=== | ===Traits=== | ||
| Line 33: | Line 41: | ||
* This option requires more technical understanding | * This option requires more technical understanding | ||
* User has the most control over their ICP. | * User has the most control over their ICP. | ||
| − | * This is the | + | * This is the ''safest'' option from a software point of view because the user is relying on less software surface area, but it is the ''riskiest'' from a human point of view in that it puts the risk of the user's [[seed phrase]] and [[private key]] custody on them. |
* Ideal for people who want as much control over their ICP as possible | * Ideal for people who want as much control over their ICP as possible | ||
| + | * This custody solution has staking built-in if you want to stake as well | ||
| − | == | + | ==See Also== |
| − | + | * [[Managing ICP holdings]] | |
| − | |||
| − | |||
Latest revision as of 00:43, 8 January 2022
Do you want maximum control of your keys?
No, then use 3rd party custody solutions
3rd party custody solutions allow you to interact your ICP and trade-off consumer experience for control. The trade-off is simple: if you do not feel comfortable managing your own keys and are willing to have a third party have access to your keys for the sake of being hand-held through the process, then 3rd party solutions can be the right choice for you.
Here are some examples:
Yes, then use self-custody
- ICP Custody with NNS frontend dapp
- ICP custody with Ledger Nano
- ICP Custody with Quill (Minimalistic ledger and governance toolkit for cold wallets) Networked computer
- ICP custody with seed phrase and air-gapped machine
Self-custody: Maximum ease option
If you choose self-custody, the option which maximizes ease is: ICP Custody with NNS frontend dapp.
It consists of Internet Identity with the NNS frontend dapp.
Traits
- Most convenient. Entirely web-based. No need to download or install anything.
- NNS frontend dapp has all the functionality you need
- This is a very common method
- Ideal for people who want to want the easiest path to control their ICP
- This custody solution has staking built-in if you want to stake as well
Self-custody: Maximum control option
If you choose self-custody, the options which maximizes control are:
Traits
- This option requires more technical understanding
- User has the most control over their ICP.
- This is the safest option from a software point of view because the user is relying on less software surface area, but it is the riskiest from a human point of view in that it puts the risk of the user's seed phrase and private key custody on them.
- Ideal for people who want as much control over their ICP as possible
- This custody solution has staking built-in if you want to stake as well