New Delhi, 29th December 2023, Cypherock, the pioneering web3 security startup, proudly announces that its groundbreaking product, the Cypherock X1 hardware wallet, has been awarded an exceptional rating of 4.8/5 by Coin Bureau, the foremost influencer in the web3 and blockchain space. This achievement marks the highest rating ever bestowed by Coin Bureau upon a cold wallet.
Established in 2019 by Rohan Agarwal and Vipul Saini, Cypherock is on a mission to empower individuals with self-sovereignty, offering unprecedented control over their Cryptocurrencies and digital assets like NFTs. The Cypherock X1, designed to revolutionize private key management, addresses the core challenges faced by current crypto wallet solutions.
Notably, the Cypherock X1 stands out as a proudly Made in India hardware wallet, contributing to the growing recognition of India’s capabilities in the electronics and technology sector. This accomplishment is particularly significant in an industry where few global electronic gadgets are recognized as Made in India.
In a comprehensive review, Coin Bureau lauded the Cypherock X1 for its exceptional features and innovative design:
“Cypherock X1 is a hardware wallet employing encrypted NFC-based cards to store users’ private keys and seed phrases. It offers an industry-leading secure option for those looking to protect their assets and mitigate the risks associated with seed phrases. With portfolio management and the ability to act as a seed phrase vault for up to 4 wallets, the Cypherock is one of the most secure wallets we’ve reviewed!” – Coin Bureau.
Cypherock X1 is an open-source hardware wallet for secure crypto storage, embracing transparency and providing users access to the codebase for scrutiny and verification. The wallet underwent rigorous audits by leading security firms KeyLabs and WalletScrutiny, cementing its position as the world’s best hardware wallet for crypto storage. The Cypherock X1 cold wallet eliminates risks associated with seed phrase backups, offering enhanced security against potential vulnerabilities or a single point of failure. With Cypherock X1, there’s no need for a seed phrase backup like metal or paper backups. Having said that, in case of emergencies, users can still extract their recovery phrase, ensuring access to their funds. Users can import seed phrases of up-to 4 wallets and use Cypherock X1 as a seed phrase backup. Not only this, users can also manage portfolios of all these wallets in a single app designed and developed by Cypherock. With a user-friendly interface, the Cypherock X1 hardware wallet is accessible to both beginners and experienced users.
Implementing Shamir Secret Sharing, the wallet enhances private key security by decentralizing cryptographic parts across multiple components – 4 X1 cards and 1 vault device. Users need to fetch any one of their four X1 cards and tap it on the vault device to make the transaction. Losing 1 or 2 components doesn’t mean losing funds. The Cypherock X1 features EAL6+ security certification with dual-chip architecture, an OLED display, and a joystick for offline transaction verification, ensuring bank-grade security. The wallet seamlessly integrates with WalletConnect, facilitating connections with favorite dApps for DeFi activities.
Rohan Agarwal, Co-founder and CEO of Cypherock expressed his gratitude, stating, “We are honored to receive this exceptional rating from Coin Bureau. It validates our relentless pursuit of excellence in redefining crypto security and empowering individuals with true self-sovereignty. We are also proud to be a part of the ‘Make in India’ initiative, showcasing the innovation and quality that India brings to the global tech landscape.”
Vipul Saini, Co-founder and CTO of Cypherock urges users to prioritize asset and data security by switching from centralized exchanges to secure hardware wallets. Emphasizing the Coin Bureau rating, security audit by Keylabs as testaments to their commitment to security, Saini states, “Our mission is to empower individuals with control over their crypto assets and personal data, and hardware wallets like Cypherock X1 are a crucial step towards achieving that goal.”
