Why choose AirGap over other Cold Wallets?
Choosing the right cold wallet is crucial, and AirGap shines with unmatched security and flexibility. It eclipses traditional hardware wallets with its open-source approach and advanced features. Explore why AirGap is the top choice for safeguarding digital assets, blending innovation with practical security.
Hot and Cold Wallets — knowing the difference
Cold wallets are one of the most reliable and secure methods of storing cryptocurrency currently available on the market. They are cryptocurrency wallets that do not connect to the internet, thereby making them safe from any cyber-attacks or hacking attempts. On the other hand, hot wallets are wallets that connect to the internet, with the sole aim of making crypto transactions easier. While exchanges and most mobile wallets fall within the hot wallet category, examples of a cold wallet include hardware wallets (Ledger, Coldcard, and Trezor), paper wallets, and our solution, AirGap Wallet.
The Big 5 issues with traditional Cold Wallets
While cold wallets are essential for securing cryptocurrency assets, several shortcomings hinder their effectiveness. There are some common issues associated with traditional cold wallet solutions, which we refer to as the “The Big 5“. Let’s lay them out:
- Not truly Air-Gapped: The term Air-Gapped is often used in the military and security environment to explain a physical isolation technique employed to enhance security by ensuring that a device is completely detached from potentially insecure networks or devices. This isolation helps to safeguard sensitive data by eliminating unauthorized digital access paths. Many traditional cold wallets rely on physical connections via cables or bluetooth. True air-gapped systems avoid any form of wireless communication, including Bluetooth, as these can be exploited by attackers if they manage to get close enough.
- Supply chain attack vulnerability: At various points in the supply chain, an attacker can target any of the insecure points. This process is known as the supply chain attack. Traditional cold wallets are manufactured and distributed through complex supply chains, leaving them vulnerable to supply chain attacks. For instance, in 2020. Ledger suffered a data leak exposing the addresses of 270k+ users. Such address data can be exploited by criminals to track down people with crypto holdings and physically threaten them to hand out their funds.
- Usability challenges: Interacting with small screens or physical buttons on hardware wallets can be challenging, leading to user frustration and potential errors in transaction processes. Also many do not come with biometric identification, such as fingerprint or face recognition which can increase security and usability tremendously. On top of that, most hardware wallets are limited to single mnemonic only. Therefor people must purchase multiple hardware wallets when having a more professional setup which disrupts the usability of the product.
- Limited availability: Traditional cold wallets typically require users to purchase specialized hardware devices, which may not be readily available or affordable for everyone. This limited availability can create barriers to entry for individuals in regions with limited access to technology or financial resources, restricting their ability to secure their cryptocurrency assets effectively.
- Random Number Generation (RNG) concerns: The security of cold wallets relies heavily on the quality of the random number generation (RNG) used to generate cryptographic keys. The problem is that it is not verifiable how most RNG chips work. There is no way to tell whether the output of those chips is truly random or if it outputs a predefined sequences that appears random, but can be reconstructed by the device manufacturer.
Revolutionizing Cold Wallets: AirGap’s Mobile-Centric Approach
Upon its launch in 2017, AirGap’s developer team pinpointed the “Big 5” challenges and aimed to surmount them, aspiring to provide a secure cold wallet accessible to all, without compromising usability. With a deep-rooted background in mobile security, the team recognized the unparalleled resilience and widespread accessibility of mobile phones. They understood that not only are mobile devices among the most rigorously tested globally, but they are also among the most widely available electronic devices on the market.
Enter AirGap
AirGap is an open-source and free-to-use solution where users can turn their spare smartphone into a cold wallet. This can be achieved by installing the AirGap Vault application on this dedicated device and turn it into the offline mode. The AirGap Vault generates and stores your Private key securely on the security chip of your smartphone.
Overcoming the Big 5 with AirGap
- Truly Air Gapped: Unlike traditional cold wallets that rely on physical connections via cables or Bluetooth, AirGap adopts a unique approach by utilizing human readable QR codes exclusively to maintain an air-gapped environment. This was made possible with the help of ERC 4527 which the AirGap devs co-created with top industry experts. By eschewing physical connections altogether, AirGap ensures that users can securely access their cold wallet without the risk of external connectivity issues or vulnerabilities.
- Supply chain attack resilience: Concerns about supply chain attacks are prevalent in the digital realm. However, AirGap mitigates this risk effectively by allowing users to download the application directly from trusted sources such as GitHub or the App Store. Therefore AirGap Vault allows for anonymous setup, which might be appealing to users seeking enhanced privacy.
- Usability: AirGap leverages the expansive touch screen capabilities of smartphones, optimizing usability and enhancing the overall user experience. Also, unlike other cold wallets, AirGap Vault supports multiple mnemonics, thus offering an enhanced flexibility to its users.
- Availability: Unlike traditional cold wallet solutions that may require specialized hardware or accessories, AirGap leverages the ubiquity of smartphones. With smartphones being readily available in virtually every corner of the globe. Besides this, AirGap is completely free to use to everyone.
- RNG Enhancement: AirGap goes above and beyond in ensuring the randomness and security of cryptographic operations. By incorporating, besides the RNG chip output, various sources of randomness, such as touch-based inputs, inputs from the built-in gyroscope and more. besides the RNG chip, the option to make use of coin flips, and dice rolls inputs allowing the user to have full input control. To know more about this, check out our dedicated blog on PRNG attack vectors.
Security aspects of AirGap as compared to other cold wallets
The above-mentioned criteria are solely focused on security aspects. For further comparisons between AirGap and other cold wallets, visit AirGap’s documentation.
And it doesn’t stop there;
AirGap’s adoption of isolated modules has propelled cold wallet security to new heights by compartmentalizing different blockchain networks within distinct modules. Previously operating as a single codebase, AirGap’s transition to isolated modules ensures fault tolerance, where a failure in one module does not compromise others, guaranteeing the security and accessibility of users’ cryptocurrency assets. This modular architecture not only enhances security but also fosters flexibility and collaboration within the cryptocurrency ecosystem, allowing developers and users to integrate any chain with AirGap’s isolated modules. To know more about Isolated Modules, you can refer to our documentation.
Conclusion
In conclusion, AirGap emerges as a superior choice among cold wallets due to its transparency, flexibility, and enhanced security features. With its open-source nature, support for multiple mnemonics, anonymous purchasing capability, reproducibility, and user-friendly interface, AirGap offers a compelling solution for safeguarding cryptocurrency assets while ensuring accessibility and convenience for users worldwide.
Download AirGap
AirGap Wallet
📱 iOS — App Store
📱 Android — Google Play (GitHub APK)
💻 macOS
💻 Windows
💻 Linux
AirGap Vault
📱 iOS — App Store
📱 Android — Google Play (GitHub APK)
Interested in AirGap? Stay in touch.
