 | Joining us in today's AMA is Rohan Agarwal, Co-founder and CEO of Cypherock. Two random winners would get a free Cypherock X1 cold wallet worth 199 USD each! Cypherock X1 is the safest hardware wallet with decentralized key storage. Unlike other hardware wallets, which store private keys in one device which makes them hackable, Cypherock X1 decentralizes them using Shamir's Secret Sharing across 5 tamper-proof hardware components: 1 X1 vault and 4 X1 cards, each protected by a user-set PIN. To make a transaction, you need the X1 vault and any one X1 card. Your funds are safe even if you lose the X1 vault. The X1 Vault features dual-chip architecture for offline operations, an OLED display, and a joystick for easy offline transaction signing. X1 Cards are NFC-based with EAL 6+ secure elements, offering the same security as your bank credit cards. Cypherock X1 is highly rated with a 4.8/5 from Coin Bureau the highest for any hardware wallet. It has passed security audits by KeyLabs, successfully scrutinized by WalletScrutiny & is open-source. Key features include: No Single Points of Failure: Seed phrases can expose your crypto to various risks such as hacks, theft, fire, and natural disasters. Cypherock X1 cold wallet mitigates these issues by eliminating the single point of failure associated with traditional seed phrases. Your private key is protected in a decentralized way that does not require conventional seed phrase backups. If you are a technical user, you still can backup the seed phrase separately anytime you want by fetching the X1 vault and any X1 card. Extensive Crypto Asset Support: Supporting over 9000 crypto assets, Cypherock X1 provides comprehensive coverage and access to DeFi through WalletConnect. Create Up to 4 Wallets in a Single Cypherock X1: Unlike other hardware wallets, Cypherock X1 allows up to 4 wallet accounts per device, enabling asset segregation. Secure Seed Phrase Backup for Other BIP39 Wallets: Cypherock X1 is more than a cold wallet. It can also serve as a secure backup solution for seed phrases from other crypto wallets. Replace insecure paper or metal plate backups by importing your existing seed phrases of BIP39 wallets like Ledger, Trezor, Metamask etc and use Cypherock X1 as secure wallet backup. Unified Crypto Portfolio Management: If you have your crypto assets scattered across various wallets like Ledger, Trezor, Metamask etc., Cypherock X1’s CySync desktop app allows you to manage all your assets in one place by storing the seed phrases of your existing crypto wallets (BIP39 compatible) in the Cypherock X1. Non-Custodial Inheritance: To address the risk of losing crypto assets in case of unforeseen events, Cypherock X1 is coming up with a non custodial inheritance feature called Cypherock Cover. This ensures that your assets can be transferred securely after your death without Cypherock itself ever controlling the assets. You can setup inheritance of your crypto for up to 4 of your existing wallets (like Ledger, Trezor, Metamask, TrustWallet) in Cypherock X1 itself. Cypherock Cover is a non-custodial, non-KYC, multi-chain, inheritance-style recovery service which is set to launch in September 2024. Exclusive Offer for r/cryptocurrency community: Get 40% off Cypherock X1 hardware wallet with code ‘cryptocurrency’ at https://www.cypherock.com/?wt_coupon=cryptocurrency . Offer valid for the next 7 days. Follow Cypherock for updates: Website: www.cypherock.com [link] [comments] |
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