Difference between revisions of "ICP custody options"

From Internet Computer Wiki
Jump to: navigation, search
m
 
(30 intermediate revisions by 6 users not shown)
Line 1: Line 1:
−
== Options: maximum ease or maximum control? ==
+
Understand the benefits and limitations of each custody option so you can choose the wallet that best suits your needs.
  
−
To custody your ICP, you have many options, each with different security and usability trade-offs. Choosing your setup is usually where people get most stuck.  
+
{|
 +
|- style="vertical-align:top;"
 +
| style="width: 33%" |
 +
== Onchain Wallets==
 +
Onchain dapps that are easily accessible with the creation of an Internet Identity. Great for daily use and small amount transfers.
 +
* [https://oisy.com/ Oisy]
 +
*[https://nns.ic0.app/ NNS frontend dapp] with [https://identity.ic0.app/ Internet Identity]
 +
*[https://astrox.me/ AstroX ME]
 +
* [https://nfid.one/ NFID Wallet]
 +
*[https://orbitwallet.io/ Orbit] (private alpha)
 +
*[https://www.stoicwallet.com/ Stoic wallet]
 +
| style="width: 34%" |
 +
== Mobile Wallets ==
 +
Mobile apps offer easy access to crypto assets for people who use them frequently.
 +
*[https://plugwallet.ooo/ Plug wallet]
 +
*[https://astrox.me/ AstroX ME]
 +
*[https://klever.io/en-us/crypto-wallet/icp-wallet Klever]
 +
*[https://airgap.it/ AirGap]
 +
*[https://trustwallet.com/ Trust Wallet]
 +
| style="width: 33%" |
 +
==Hardware Wallets==
 +
Maximum security. Hardware wallets hold private keys in airgapped machines or ledger devices.
 +
*[[ICP custody with Ledger Nano|Ledger Nano]] and other Ledger hardware devices
 +
*[https://airgap.it/ AirGap]
 +
*[https://x.com/Tangem/status/1841759127845982370 Tangem]
 +
*[https://www.taurushq.com/blog/taurus-integrates-the-full-icp-value-chain-including-staking-in-its-custody-solution-taurus-protect/ Taurus]
 +
*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]]
 +
|- style="vertical-align:top;"
 +
|
 +
==Institutional Custody==
 +
For anyone managing large amounts of crypto assets. Institutional custodians offer reliability and customer support.
 +
*[https://www.coinbase.com/custody Coinbase]
 +
*[https://www.sygnum.com/digital-asset-banking/internet-computer-icp/ Sygnum]
 +
* [https://copper.co/en/insights/company-news/copper-adds-support-for-new-token-standards-on-the-internet-computer-blockchain-as-institutional-interest-grows Copper]
 +
*[https://www.crypto-finance.com/ Crypto Finance]
 +
*[https://www.dfns.co/article/icp-support Dfns] (wallet-as-a-service)
 +
*[https://www.primevault.com/ Primevault]
 +
* [https://www.taurushq.com/blog/taurus-integrates-the-full-icp-value-chain-including-staking-in-its-custody-solution-taurus-protect/ Taurus]
 +
*[https://nfid.one/ NFID Wallet]
 +
*[https://orbitwallet.io/ Orbit] (private alpha)
 +
|
 +
==Browser-Extensions==
 +
Great for users already familiar with crypto wallets from other chains.
 +
*[https://plugwallet.ooo/ Plug wallet]
 +
*[https://trustwallet.com/blog/beginners-guide-to-icp Trust Wallet]
 +
*[https://wallet.bitfinity.network Bitfinity Wallet]
 +
*[https://snaps.metamask.io/snap/npm/fort-major/msq/ Metamask] (MSQ snap)
 +
*[https://www.primevault.com/ Primevault] (coupled to institutional custody)
 +
|
 +
==Special Use Cases ==
 +
ICP staking, voting & governance (NNS)
  
−
===Do you want maximum control of your keys?===
+
*[https://nns.ic0.app/ NNS frontend dapp]
 +
*[https://www.ledger.com/coin/staking/internet-computer Ledger Nano ICP staking]
  
−
====No, then use 3rd party custody solutions====
+
SNS staking & governance
  
−
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.
+
*[https://nns.ic0.app/ NNS frontend dapp]
 +
*[https://www.ledger.com/coin/staking/internet-computer Ledger Nano ICP staking]
 +
|}
  
−
Here are some examples:
+
== Do you want maximum control of your keys?==
  
−
*** [https://www.coinbase.com/ Coinbase]
+
===No? Then, use third party custody solutions:===
−
*** [https://news.klever.io/p/internet-computer-live-in-klever-wallet klever]
 
−
*** [https://plugwallet.ooo/ Plug wallet]
 
−
*** [https://www.stoicwallet.com/ stoic walleyt]
 
−
*** [https://www.sygnum.com/ Sygnum]
 
  
−
====Yes, then use self-custody====
+
Third party custody solutions allow you to trade-off ease-of-use 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 to have access to your keys for the sake of being hand-held through the process, then third party solutions can be the right choice for you.
−
*** [[ICP Custody with NNS frontend dapp]]. (self-custody option with maximum ease)
 
−
*** ICP custody with hardware wallet + networked computer
 
−
**** [[ICP custody with seed phrase and Ledger Nano]] (Coming soon)
 
−
*** 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 option with maximum control)
 
  
−
===Examples if you prefer to have maximum control of your keys===
+
Third party custody solutions include the Institutional Custody solutions listed above, as well as any of the exchanges supporting ICP on these lists:
−
[[File:self-custody-options.png|1024px|self custody staking options]]
 
  
−
==Sef-custody: Maximum Ease Option ==
+
*[https://coinmarketcap.com/currencies/internet-computer/#Markets CoinMarketCap list of ICP exchanges]
 +
*[https://www.coingecko.com/en/coins/internet-computer CoinGecko list of ICP exchanges]
  
−
If you choose self-custody, the option which maximizes ease is: [[ICP Custody with NNS frontend dapp]].
+
===Yes? Then, use self-custody:===
 +
All of the solutions above, except Institutional Custody, are self-custody. On ICP, Oisy and other Onchain Wallets are the preferred solution.
  
−
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].
+
==Self-custody: Maximum ease option==
 +
 
 +
If you choose self-custody, the simplest option to consider is [https://oisy.com/ Oisy]. And if Staking is required, then [[ICP Custody with NNS frontend dapp]]. It consists of using an [https://identity.ic0.app/ 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.
+
*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
+
*This method is ideal for people who want the easiest path to control their ICP.
−
* This custody solution has staking built-in if you want to stake as well
+
*This custody solution has staking and voting built-in if you want to participate in governance.
  
−
==Sef-custody: Maximum Control Option==
+
==Self-custody: Maximum control option==
  
−
If you choose self-custody, the option which maximizes control is:  
+
If you choose self-custody, the options which maximize control are:  
  
−
* [[ICP custody with seed phrase and air-gapped machine]]
+
*[[ICP custody with seed phrase and air-gapped machine]]
−
* Coming soon: [[ICP custody with seed phrase and Ledger Nano]]
+
*[[ICP custody with Ledger Nano]]
  
 +
===Traits===
  
−
You can use your [[seed phrase]] directly with a few options for self-custody tools.
+
*This option requires more technical understanding.
−
 
+
*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.
−
===Traits===
+
*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 option requires more technical understanding
+
==See Also==
−
* User has the most control over their ICP.
+
*[[Tutorials for acquiring, managing, and staking 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
 

Latest revision as of 15:49, 2 December 2024

Understand the benefits and limitations of each custody option so you can choose the wallet that best suits your needs.

Onchain Wallets

Onchain dapps that are easily accessible with the creation of an Internet Identity. Great for daily use and small amount transfers.

Mobile Wallets

Mobile apps offer easy access to crypto assets for people who use them frequently.

Hardware Wallets

Maximum security. Hardware wallets hold private keys in airgapped machines or ledger devices.

Institutional Custody

For anyone managing large amounts of crypto assets. Institutional custodians offer reliability and customer support.

Browser-Extensions

Great for users already familiar with crypto wallets from other chains.

Special Use Cases

ICP staking, voting & governance (NNS)

SNS staking & governance

Do you want maximum control of your keys?

No? Then, use third party custody solutions:

Third party custody solutions allow you to trade-off ease-of-use 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 to have access to your keys for the sake of being hand-held through the process, then third party solutions can be the right choice for you.

Third party custody solutions include the Institutional Custody solutions listed above, as well as any of the exchanges supporting ICP on these lists:

Yes? Then, use self-custody:

All of the solutions above, except Institutional Custody, are self-custody. On ICP, Oisy and other Onchain Wallets are the preferred solution.

Self-custody: Maximum ease option

If you choose self-custody, the simplest option to consider is Oisy. And if Staking is required, then 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.
  • This method is ideal for people who 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 maximize control are:

Traits

  • This option requires more technical understanding.
  • 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.

See Also

Retrieved from "https://wiki.internetcomputer.org/w/index.php?title=ICP_custody_options&oldid=8027"