Difference between revisions of "ICP custody options"

From Internet Computer Wiki
Jump to: navigation, search
m
 
(11 intermediate revisions by 4 users not shown)
Line 1: Line 1:
 
==Do you want maximum control of your keys?==
 
==Do you want maximum control of your keys?==
  
===No, then use 3rd party custody solutions===
+
===No? Then, use third 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.
+
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.
  
 
Here are some examples:
 
Here are some examples:
  
* [https://www.coinbase.com/ Coinbase]
+
* [https://airgap.it/ AirGap]
* [https://news.klever.io/p/internet-computer-live-in-klever-wallet Klever]
+
* [https://www.coinbase.com/custody Coinbase]
 
* [https://plugwallet.ooo/ Plug wallet]
 
* [https://plugwallet.ooo/ Plug wallet]
 
* [https://www.stoicwallet.com/ Stoic wallet]
 
* [https://www.stoicwallet.com/ Stoic wallet]
 
* [https://www.sygnum.com/ Sygnum]
 
* [https://www.sygnum.com/ Sygnum]
  
===Yes, then use self-custody===
+
===Yes? Then, use self-custody:===
* [[ICP Custody with NNS frontend dapp]]  
+
* [[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
 
* [[ICP custody with seed phrase and air-gapped machine]]
 
* [[ICP custody with seed phrase and air-gapped machine]]
  
==Self-custody: maximum ease or maximum control==
+
==Self-custody: Maximum ease option ==
  
===Sef-custody: Maximum Ease Option ===
+
If you choose self-custody, the simplest option to consider is: [[ICP Custody with NNS frontend dapp]].
  
If you choose self-custody, the option which maximizes ease is: [[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].
  
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].
+
===Traits===
 +
* 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.
 +
* 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.
  
====Traits====
+
==Self-custody: Maximum control option==
* Most convenient. Entirely web-based. No need to download or install anything.
 
* [https://nns.ic0.app/ 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 options which maximize control are:  
 
 
If you choose self-custody, the option which maximizes control is:  
 
  
 
* [[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 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.
  
* 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 07:37, 20 November 2023

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.

Here are some examples:

Yes? Then, use self-custody:

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.
  • 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