Difference between revisions of "ICP custody options"
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====Yes, then use self-custody==== | ====Yes, then use self-custody==== | ||
* [[ICP Custody with NNS frontend dapp]] | * [[ICP Custody with NNS frontend dapp]] | ||
| − | * [[ICP | + | * [[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 | ||
* [[ICP custody with seed phrase and air-gapped machine]] | * [[ICP custody with seed phrase and air-gapped machine]] | ||
Revision as of 19:57, 7 January 2022
Options: maximum ease or maximum control?
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.
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
Sef-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
Sef-custody: Maximum Control Option
If you choose self-custody, the option which maximizes control is:
- ICP custody with seed phrase and air-gapped machine
- Coming soon: ICP custody with seed phrase and Ledger Nano
You can use your seed phrase directly with a few options for self-custody tools.
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