Converting ICP into Cycles

Canister smart contracts are powered by cycles. Therefore, developers need cycles to create and manage canisters.

The NNS dApp allows developers to seamlessly convert ICP into cycles which then can be used to create and manage canisters.

If you want to create a new canister, simply do the following:

1. Click on the Canisters tab, then click Create or Link Canister
2. Click on Create New Canister. Doing so creates a new cycles wallet canister
3. Select your ICP wallet
4. Enter the amount of ICP you want to convert into cycles
5. Click Review Cycles Purchase and Confirm if everything is correct

Once you have confirmed the transaction, you can review the number of cycles available for your canister, the new canister identifier, and the controling principal which has the management rights for your canister.