Availability and Accessibility of Cold Wallets
Security is vital and possibly the most crucial issue when determining how to store your funds, and no doubt cold wallets such as AirGap Vault and hardware wallets have been helpful in this area. Accessibility and availability are also another set of factors worth considering while seeking to keep your funds safe. In this blog article, we’ll compare other hardware wallets to AirGap Vault in terms of availability and accessibility.
Availability
In this specific context, availability will be defined as whether or not you can easily obtain an item. Since hardware wallets are available as physical devices, there will likely be a shortage of these devices if demand increases. In contrast to hardware wallets, software wallets do not suffer from the effect of a decrease or increase in demand. No matter how popular our product becomes, you’ll always be able to access it without having to worry about it running out of stock.
Here is a post on Reddit during the bullrun back in 2017 in which a user has asked the following question:
“why are so many of the bitcoin hardware wallets out of stock”
The answer back then came promptly; “Bitcoin up, interest up”
Aside from interest, other factors can also impact the supply of this hardware; for instance, COVID in 2019 and the blockage of the Suez canal by an evergreen ship in 2021.
The internet is boundless — Shipping is not
Another significant challenge for hardware wallets, as it pertains to their availability, is that the devices are unavailable and cannot be purchased in countries where cryptocurrencies are prohibited or certain kinds of sanctions are issued, but as long as one has access to the internet, they can always download our AirGap solution from any location around the world irrespective of the constraint from government authorities or governmental regulation. For example, an android user can quickly go to our GitHub page, download the AirGap Vault apk, and spin up his hardware wallet in a few minutes.
Here is a typical example of how sanction placed on Russia has affected the shipment of the Trezor hardware wallet.
From Ledger’s list of unsupported countries, over 960 million people have no direct and secure access to their solution since they do not ship to those countries. If possible, these regions people have to purchase from resellers, which introduces middlemen and may result in increased prices, the possibility of a supply chain attack, or the sale of altered devices.
When will it arrive?
In the case of ordering a hardware wallet, the process is typically like this: first, locate an internet merchant that sells them, and fill out personal information such as name, address, email, and phone number. Afterward, the information is submitted, and payment made, then wait for a couple of days for the device to arrive. This can take a few days and up to weeks depending on your location and on the solution.
Whilst with the AirGap solution, you could immediately turn your old device into a cold wallet. This can be done by merely going online to download the application and have it ready in a few minutes, that’s what easy availability is all about while still offering the best possible security for your funds.
Here is a guide on how setup AirGap.
Prefer video? Here is a 4 minute video on how to set up AirGap
Accessibility
Some people get involved in crypto because of the possibility of making quick profits by taking advantage of any sudden market opportunities that present themselves, this is called day trading. To a day trader being able to access his or her asset and exchange it for another coin seamlessly is very important and this may not be convenient while using a hardware wallet. The typical process for exchanging a coin stored in a hardware wallet will involve connecting the device to a PC, then transferring the coin to a third-party exchange before executing the swap.
AirGap considered this and integrated a third-party exchange with a built-in feature that enables users to convert their assets without going through the trouble of transferring their coins outside the wallet.
(Note this functionality is limited to the assets that are listed by the third-party exchanges we integrated)
Usability
Another issue when it comes to accessibility in a hardware wallet is the limited screen size and the input via buttons that are used. This sometimes limits user experience.
When using a Ledger for example you have to input all the required information via only two buttons, which can quickly lead to mistakes. Further more the screen size is is with about 2.5 centimeters in diameter rather small. Same goes for a Trezor, which has a better usability because of a touchscreen. However, the screen is bigger than the on of Ledger but also on the smaller side.
With AirGap, usability feels like home. You get the screen size you’re used to because your cold wallet is on a mobile phone. Something that doesn’t differ from what you are accustomed to.
Conclusion
For us, security is the number one issue, and hence we have developed an air-gapped wallet with the maximum amount of security, but we also cared about accessibility and availability when making it. This is why we have chosen against the idea of creating a physical hardware wallet and instead distributing it via the web. So this means we have a great start when it comes to competing with hardware wallets, as we offer both a secure and convenient option.
Do you have any questions regarding AirGap?
Reach out to us via Discord, Telegram or visit the AirGap help-center.
Download AirGap
AirGap Wallet
📱 Android — Google Play (GitHub APK)
💻 macOS
💻 Windows
💻 Linux
AirGap Vault
📱 Android — Google Play (GitHub APK)
Interested in AirGap? Stay in touch.
