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Updated February 15th, 2024 at 12:09 IST

Should you buy Cypherock X1 crypto wallet? Here’s the full review

Cypherock X1 crypto wallet uses Shamir's Secret Sharing method to split the private keys into multiple cards that you can store separately for better security.

Reported by: Anirudh Trivedi
Cypherock X1 crypto wallet
Cypherock X1 crypto wallet | Image:Cypherock
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Cypherock X1 wallet review: As cryptocurrencies continue to gain mainstream attention and global attempts to regulate virtual digital assets escalate, their adoption around the world is witnessing a strong rise. Amid the streak of wider adoption, users seek better security for their decentralised investments and hardware crypto wallets have become a must-have device for all serious crypto investors.

Even though the market is piled up with many hardware wallet options, not all are equally secure and efficient to use for beginners. This is where Cypherock X1 crypto wallet claims to have its place as a better alternative to widely popular crypto hardware wallets. In this review, Republic Business tests and examines the Crypherock X1 wallet to give you a detailed insight into the device, assisting you in making an informed buying decision. 

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What is inside the box?

The Cypherock X1 crypto wallet comes with a set of accessories to improve its usability and security. Inside the box, you will find the X1 Vault, which serves as the primary hardware component for securely storing private keys and seed phrases. 

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Additionally, the package includes four X1 Cards, each containing encrypted NFC technology for accessing and managing cryptocurrency assets. The cards are accompanied by four anti-theft card sleeves and a black lanyard to securely carry their cards and wallets. 

Apart from that, the package also contains two stickers, a user manual, a warranty document, a USB-C with, an OTG Adapter and lastly a webcam cover for your devices. 

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Security Features

Cypherock employs encrypted NFC-based cards to store private keys and seed phrases, eliminating common vulnerabilities associated with seed phrases. Using the Shamir Secret Sharing cryptographic technique enhances security by decentralising the storage of private keys, and the geographical distribution of keys adds an extra layer of protection against single points of failure. 

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Shamir's Secret Sharing is a cryptographic method used to split a secret into multiple parts, known as shares or fragments which in this case are four cards that come with Cypherock wallet. This method ensures that the original secret can only be reconstructed when a minimum threshold of shares is combined, while any subset of shares less than the threshold reveals no information about the secret.

Additionally, the wallet boasts EAL6 security certification that permits developers to gain high assurance from the application of security engineering techniques to a rigorous development environment to produce a premium TOE for protecting high-value assets against any major risks. 

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EAL6 is therefore applicable to the development of security TOEs for application in high-risk situations where the value of the protected assets justifies the additional costs.

User Experience

Despite the sophisticated security measures, Cypherock X1 remains easy to use with a simple transaction process, requiring just one of the four cards to be tapped on the wallet to complete the transaction. Moreover, the ability to manage up to four wallets on a single device allows users with diverse cryptocurrency portfolios flexibility and convenience.

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The wallet's compatibility with Wallet Connect opens it for users to engage with decentralised finance applications (DApps), further expanding its utility beyond basic asset storage. 

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Pros and Cons of Crypherock X1 Wallet

Audited by leading security firms, it boasts no seedphrase vulnerability and the ability to manage up to four wallets simultaneously. Its Shamir Backup ensures enhanced recoverability, complemented by an EAL6 security certification and compatibility with Wallet Connect for decentralised finance access. 

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However, the quality of the device as well as the cards could be improved as the overall build of the wallet feels plasticky and it may deter some users who wish to have a more robust build. The cySync desktop app's limited functionality also leaves room for improvement. Last but not least, the price of Cypherock X1 wallet puts it in direct competition with market leaders which can be a dealbreaker for many users. 

Crypherock X1’s innovative approach to addressing common security concerns, coupled with its user-friendly design and compatibility with emerging trends in the cryptocurrency space, positions it as a noteworthy contender in the hardware wallet market.

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Published February 15th, 2024 at 12:08 IST

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