Cryptocurrency wallets are digital tools that allow users to store, send and receive cryptocurrencies. They work as a kind of virtual bank account, where the user has access to their private and public keys.
The private key is a unique and secret system-generated code that is used to access and manage the cryptocurrencies stored in the wallet. It is like a password and must be kept safe, because without it, it is not possible to access the stored cryptocurrencies.
The public key, on the other hand, is a system-generated public code that is used to receive cryptocurrencies. It can be shared publicly, like an email address, and anyone can send cryptocurrency to that public key.
Paper Wallet: Example of private and public key
The seed phrase is a system-generated string of words that is used to restore the wallet in case of loss or theft. It’s important to write it down in a safe place and never share it with anyone. The seed phrase is like the wallet’s master key and is used to retrieve the private and public keys associated with the wallet.
The passphrase is an additional password that can be used to protect the seed phrase. It is optional but highly recommended as it adds an extra layer of security to the wallet. The passphrase is usually used together with the seed phrase to restore the wallet in case of loss or theft.
In short, cryptocurrency wallets are digital tools that use private and public keys to manage stored cryptocurrencies. The seed phrase and passphrase are used to protect and recover the wallet in case of loss or theft. it is important to keep the private keys and seed phrase in a safe place and not share it with anyone.
Cryptocurrency Wallets
Cryptocurrency wallets can be divided into two main types: hot wallets and cold wallets. Each type of wallet has its own characteristics and advantages, and it is important to understand the differences between them in order to choose the best option for your needs.
Hot Wallets
Trust wallet, in the example.
Hot wallets are cryptocurrency wallets that are held online and accessible via an internet-connected device such as a computer, smartphone or tablet. They are called “hot” because they are always connected to the internet, unlike “cold wallets”, which are cryptocurrency wallets stored offline on devices not connected to the internet, such as hardware devices or paper.
Hot wallets are convenient because they allow users to easily access and manage their cryptocurrencies anytime, anywhere. They are also ideal for short-term operations such as buying and selling cryptocurrencies on the trading platform.
However, hot wallets are also more susceptible to cyber attacks as they are always connected to the internet. Therefore, it is important to take proper security measures, such as using strong passwords and enabling two-factor authentication, to protect your cryptocurrencies.
Some examples of hot wallets include mobile wallet apps like Coinbase Wallet and Trust Wallet and browser extensions like Metamask and Rabby. It is important to research and evaluate different hot wallets before choosing one, to ensure that it is secure and suitable for your needs.
Cold Wallets
Various hardware wallet options
Cold wallets are cryptocurrency wallets that are stored offline, on devices not connected to the internet, such as hardware or paper devices. They are called “cold” because they are disconnected from the internet, unlike “hot wallets”, which are cryptocurrency wallets kept online and accessible via an internet connected device.
Cold wallets are ideal for storing cryptocurrencies for the long term, as they are much more secure than hot wallets. This is due to the fact that they are disconnected from the internet, which protects them from cyber attacks. Furthermore, cold wallets are also useful for performing high security operations such as signing cryptocurrency transactions.
However, cold wallets are also less convenient than hot wallets as they require a physical device to access the cryptocurrencies stored in them. Also, it is important to remember to back up the cold wallet in case the physical device is lost or damaged.
Some examples of cold wallets include hardware devices such as the Ledger and Trezor and paper wallet.
Airgap Vault
https://airgap.it/offline-device/
Airgap Vault is a cryptocurrency wallet solution that stands out for its added security. It uses the airgap technique to ensure that the stored cryptocurrencies are completely disconnected from the internet, which means that they cannot be accessed or intercepted by hackers or other malicious actors. Additionally, it provides an extra layer of security with passwords and PIN codes, and uses digital signatures to ensure transactions are authentic and valid.
Other cryptocurrency wallet solutions include:
Hardware wallets: These are physical wallets that can be connected to a computer to store and manage cryptocurrencies. They offer similar security to the Airgap Vault in that the private keys are stored offline, meaning they cannot be accessed over the internet. However, if the physical device is lost or stolen, the cryptocurrencies stored on it will also be lost.
Hot wallets: These are wallets that are downloaded and installed on a device such as computers, smartphones, among others. They can be convenient to use, but offer less security than hardware wallets, as the private keys are stored online and can be accessed through an internet connection.
Paper wallets: these are wallets where the private and public keys are printed and stored offline, thus ensuring security similar to the Airgap Vault. However, these wallets are more susceptible to physical damage and loss, and they don’t offer the same ease of use as software or hardware wallets.
Airgap Vault with Airgap Wallet
The Airgap Vault is a physical device that is used to store cryptocurrency private keys securely and disconnected from the internet. It can be connected to a computer or mobile device using Airgap Wallet, which is an application that allows you to manage the cryptocurrencies stored in the Airgap Vault.
Airgap Wallet is used to make transactions, manage private and public keys, perform backups, as well as other operations to manage your wallet, all without exposing your private keys to the internet, thus ensuring greater security.
Together, Airgap Vault and Airgap Wallet form a complete solution for storing and managing cryptocurrencies securely and offline, ensuring that private keys are kept away from any unauthorized access.
Comparison of AirGap Vault with other Hardware Wallets
https://support.airgap.it/airgap-vault/comparison-of-airgap-vault-with-other-hardware-wallets
Airgap Vault Supported Devices
https://support.airgap.it/airgap-vault/supported-devices
If you want to install AirGap Vault on a device running an older Android version (Android 8 or below), make sure to update the Webview to the latest version.
Airgap Vault Supported Wallets
https://airgap.it/supported-wallet/
Airgap Vault is designed to work with a variety of different wallets including Metamask, Rabby Wallet, Blue Wallet, Specter and of course the Airgap Wallet itself. This allows users to choose the wallet that best suits their needs and preferences.
This means that, for example, you can choose to use Metamask as your main wallet, but still keep the private keys securely stored in the Airgap Vault, ensuring your crypto assets are always protected.
Reasons to choose airgap vault
Security: Airgap Vault stores cryptocurrency private keys securely and offline, meaning they cannot be accessed or intercepted by hackers or other malicious actors. Additionally, it provides an extra layer of security with passwords and PIN codes, and uses digital signatures to ensure transactions are authentic and valid.
Anonymity: Airgap Vault does not require any personal data to use, which ensures that users remain 100% anonymous and do not have to worry about personal information being leaked.
Convenience: It’s easy to install and use on your cell phone, without needing bank or address details, which makes it accessible to anyone.
Guarantee of origin: Buying a smartphone and knowing the origin of that smartphone is easier than buying a traditional hardware wallet and guaranteeing the origin of the device, avoiding problems with counterfeit devices, tampered with on the way, among others.
https://www.coindesk.com/tech/2021/06/17/scammers-are-sending-ledger-users-fake-hardware-wallets/
What I hope for the future of airgap
Airgap is an amazing and affordable product that helps users to safely protect their cryptocurrencies. I look forward to Airgap continuing to develop and expand its range of products and solutions.
It is possible that with venture capital funding, Airgap could expand its market presence and make its products accessible to a wider user base. This could include, for example, the development of new cryptocurrency-related products.
Backing up your seed phrase on paper is a common method, but it also comes with some risks. Paper is a fragile physical support and can be easily damaged by water, humidity, heat and other environmental elements. In contrast, using a steel plate to store the seed phrase offers some additional advantages. First, steel sheets are much more durable and tougher than paper, which means they are less prone to damage.
Airgap Wallet offers the functionality to exchange one cryptocurrency for another, using exchange platforms like Change Now and Changelly. These platforms work like websites, allowing users to choose the cryptocurrency they want to exchange and only use cryptocurrency addresses to make the exchange. This means that these platforms do not require identity verification (KYC) or documents, making switching simpler and faster.
An added advantage of using these platforms within Airgap Wallet is that they often charge fees for the exchanges, and these fees can be used to fund the development and maintenance of Airgap itself.
It is important to remember that this exchange functionality is only accessible within the Airgap app, not outside of it. And this is another safe way to exchange your cryptocurrencies, with less risk of exposing your personal information. Remembering that this is a third party service.
Storing your cryptocurrencies safely is a crucial part of investing in cryptocurrencies and Airgap Vault is a reliable option to achieve this goal. For more details about airgap and how to use it, head over to the FAQ https://support.airgap.it/FAQ
About me
My goal is to help build a fairer and more inclusive financial world by providing accurate and up-to-date information about cryptocurrencies, as well as tools and resources to help users make informed and safe decisions when using these technologies. I invite you to join me on this journey, and together we can help democratize and mainstream cryptocurrencies for the benefit of all.
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