Difference between revisions of "ICP custody options"
From Internet Computer Wiki
Diego.prats (talk | contribs) |
|||
| Line 1: | Line 1: | ||
==Do you want maximum control of your keys?== | ==Do you want maximum control of your keys?== | ||
| − | ===No | + | ===No? Then use third party custody solutions=== |
| − | + | Third 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: | Here are some examples: | ||
| Line 13: | Line 13: | ||
===Yes, then use self-custody=== | ===Yes, then use self-custody=== | ||
| − | * [[ICP | + | * [[ICP custody with NNS frontend dapp]] |
* [[ICP custody with Ledger Nano]] | * [[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 [https://github.com/dfinity/quill Quill] (Minimalistic ledger and governance toolkit for cold wallets) Networked computer | ||
| Line 20: | Line 20: | ||
==Self-custody: Maximum ease option == | ==Self-custody: Maximum ease option == | ||
| − | If you choose self-custody, the option | + | If you choose self-custody, the simplest option to consider is: [[ICP Custody with NNS frontend dapp]]. |
| − | It consists of [https:// | + | It consists of using an [https://identity.ic0.app/ Internet Identity] with the [https://nns.ic0.app/ NNS frontend dapp]. |
===Traits=== | ===Traits=== | ||
| − | * | + | * It's the most convenient, entirely web-based, with no need to download or install anything. |
| − | * [https://nns.ic0.app/ NNS frontend dapp] has all the functionality you need | + | * The [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 | + | * This custody solution has staking and voting built-in if you want to participate in governance |
==Self-custody: Maximum control option== | ==Self-custody: Maximum control option== | ||
| Line 41: | Line 41: | ||
* This option requires more technical understanding | * This option requires more technical understanding | ||
| − | * | + | * Users have the most control over their ICP. |
| − | * This is the ''safest'' option from a software point of view because the user | + | * This is the ''safest'' option from a software point of view because the user relies 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 | * This custody solution has staking built-in if you want to stake as well | ||
Revision as of 15:18, 5 July 2022
Do you want maximum control of your keys?
No? Then use third party custody solutions
Third 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 simplest option to consider is: ICP Custody with NNS frontend dapp.
It consists of using an Internet Identity with the NNS frontend dapp.
Traits
- It's the most convenient, entirely web-based, with no need to download or install anything.
- The 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 and voting built-in if you want to participate in governance
Self-custody: Maximum control option
If you choose self-custody, the options which maximizes control are:
Traits
- This option requires more technical understanding
- Users have the most control over their ICP.
- This is the safest option from a software point of view because the user relies 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