Difference between revisions of "ICP custody options"

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*** [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]]. (self-custody option with maximum ease)
 
*** [[ICP Custody with NNS frontend dapp]]. (self-custody option with maximum ease)
 
*** ICP custody with hardware wallet + networked computer
 
*** ICP custody with hardware wallet + networked computer

Revision as of 18:42, 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

Yes, then use self-custody

Examples if you prefer to have maximum control of your keys

self custody staking options

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:


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