Difference between revisions of "ICP custody options"

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==Maximum Ease Option ==
 
==Maximum Ease Option ==
  
Use [https://medium.com/dfinity/internet-identity-the-end-of-usernames-and-passwords-ff45e4861bf7 Internet Identity] with the [NNS frontend dapp](https://nns.ic0.app/)
+
Use [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===
 
===Traits===

Revision as of 21:02, 9 November 2021

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.

Below is a summary of the range of options available to you depending on your comfort level.

<img src="../assets/images/want-max-control-of-keys.png" alt="drawing"/>

  • Fig. 1: staking options*

Examples if you prefer to have third party custody your keys. <img src="../assets/images/3rd-party-solutions.png" alt="drawing"/>

  • Fig. 2: third party solutions*

Examples if you prefer to have maximum control of your keys. <img src="../assets/images/self-custody-staking-options-2.png" alt="drawing"/>

  • Fig. 3: self-custody staking options*

Maximum Ease Option

Use Internet Identity with the NNS frontend dapp.

Traits

  • Most convenient. Entirely web-based. No need to download or install anything.
  • [NNS frontend dapp](https://nns.ic0.app/) 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

Maximum Control Option

Use your `seed phrase` directly with a few options for self-custody tools.

Traits

  • This option requires more technical understanding
  • You have most control over your ICP.
  • This is the *safest* option from a software point of view because you are relying on less software surface area, but it is the *riskiest* from a human point of view in that it puts the risk of your `seed phrase` and `private key` custody on you.
  • Ideal for people who want as much control over their ICP as possible