Difference between revisions of "ICP custody options"
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* 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 | ||
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| + | ==See Also== | ||
| + | * [[Managing ICP holdings]] | ||
Revision as of 20:14, 7 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