Difference between revisions of "ICP custody options"
From Internet Computer Wiki
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(Completed the list of wallets and custody solutions. Added a table with all wallets on top) |
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| − | ==Do you want maximum control of your keys?== | + | Understand the benefits and limitations of each custody option so you can choose the wallet that best suits your needs. |
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| + | {| | ||
| + | |- 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://identity.ic0.app/ Internet Identity] with the [https://nns.ic0.app/ NNS frontend dapp] | ||
| + | *[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/blog/beginners-guide-to-icp 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://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) | ||
| + | |||
| + | *[https://nns.ic0.app/ NNS frontend dapp] | ||
| + | *[https://www.ledger.com/coin/staking/internet-computer Ledger Nano ICP staking] | ||
| + | |||
| + | |||
| + | SNS staking & governance | ||
| + | |||
| + | *[https://nns.ic0.app/ NNS frontend dapp] | ||
| + | *[https://www.ledger.com/coin/staking/internet-computer Ledger Nano ICP staking] | ||
| + | |} | ||
| + | |||
| + | == Do you want maximum control of your keys?== | ||
===No? Then, use third party custody solutions:=== | ===No? Then, use third party custody solutions:=== | ||
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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 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: | |
| − | * [https:// | + | *[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] | |
| − | |||
| − | * [https://www. | ||
| − | |||
===Yes? Then, use self-custody:=== | ===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. | |
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| − | + | ==Self-custody: Maximum ease option== | |
| − | It consists of using an [https://identity.ic0.app/ Internet Identity] with the [https://nns.ic0.app/ NNS frontend dapp]. | + | 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=== | ||
| − | * It's the most convenient, entirely web-based, with no need to download or install anything. | + | *It's the most convenient, entirely web-based, with no need to download or install anything. |
| − | * The [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. |
| − | * This method is ideal for people who 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 and voting built-in if you want to participate in governance. | + | *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== | ||
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If you choose self-custody, the options which maximize control are: | 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]] |
| − | * [[ICP custody with Ledger Nano]] | + | *[[ICP custody with Ledger Nano]] |
===Traits=== | ===Traits=== | ||
| − | * This option requires more technical understanding. | + | *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. | + | *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. |
==See Also== | ==See Also== | ||
| − | * [[Tutorials for acquiring, managing, and staking ICP]] | + | *[[Tutorials for acquiring, managing, and staking ICP]] |
Revision as of 14:58, 25 November 2024
Understand the benefits and limitations of each custody option so you can choose the wallet that best suits your needs.
Onchain WalletsOnchain dapps that are easily accessible with the creation of an Internet Identity. Great for daily use and small amount transfers.
|
Mobile WalletsMobile apps offer easy access to crypto assets for people who use them frequently. |
Hardware WalletsMaximum security. Hardware wallets hold private keys in airgapped machines or ledger devices.
|
Institutional CustodyFor anyone managing large amounts of crypto assets. Institutional custodians offer reliability and customer support.
|
Browser-ExtensionsGreat for users already familiar with crypto wallets from other chains.
|
Special Use CasesICP staking, voting & governance (NNS)
|
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.