Cypherock X1 Review 2024
The Cypherock X1 hardware wallet is an innovative hardware wallet that relies on two different device types. On the one hand, there is the main device, the Vault, which you use to carry out transactions. The 4 NFC cards are an additional security feature that store part of the private key. This results in a kind of vault-key combination that secures your cryptocurrencies – without having to write down the recovery seed.
You can find out how the Cypherock X1 hardware wallet performs in everyday life and how the decentralized storage of the recovery seed works without the need to write it down in one place in my following test report.
First impression of the Cypherock X1 hardware wallet
The Cypherock X1 Wallet comes in an inconspicuous black box, which is additionally shrink-wrapped. When you open it, a small hard-shell case is revealed. This serves as a secure and robust storage option for your Cypherock X1 Wallet. A Faraday cage is integrated, which protects the devices inside against electromagnetic signals – a cool feature. When you open the small case, the entire contents are revealed – more on that in a moment.
Where can I buy the wallet?
Hardware Wallets should preferably be ordered directly from the manufacturer or official resellers if possible. Dubious stores or private sellers on platforms like ebay or amazon could manipulate the devices for their own purposes or trick the buyer. This way, the thieves can steal all the coins from your hardware wallet at a later time. Unfortunately, there have already been such cases in the past.
The Hardware Wallet is best ordered directly from the Cypherock Shop. It is available at 189,00 € (click here to check the current price) and can be paid for using all common payment methods, including credit card, PayPal and cryptocurrencies. Depending on the delivery region, shipping costs may be added.
A special feature is that you can personalize your Cypherock cards and packaging with your own picture during the ordering process at no extra charge.
The extensive scope of delivery
When the package finally arrives, everything is neatly organized in a hard-shell case as described above.
The scope of delivery is really extensive: In addition to the main device, the Cypherock X1 Vault, there are four extra backup cards. The scope of delivery also includes a USB-C to A cable, which can also be connected to a laptop or smartphone with USB-C using the OTG adapter supplied.
Also included is a lanyard that can be attached to the Vault, a webcam cover for more privacy for your laptop, four card sleeves to protect the Cypherock cards against unauthorized reading. Of course, stickers and user instructions are also included.
To summarize, there really is a lot included, but the small case keeps everything neatly packed.
The Cypherock X1 Vault and the cards
At the heart of the scope of delivery are, of course, the two appliance types.
Cypherock X1 Vault
The Vault is the 3×6.4×1.5 cm main device with dual-chip architecture for offline calculation and verification of your transactions. It never stores the complete private key to your crypto assets.
The device has a 0.96-inch OLED display for clear verification of transactions so that you can see exactly what you are authorizing. The screen is conveniently navigated using a 5-way joystick, similar to your favorite game console. “5-way” because you can navigate in four directions and select something by pushing the joystick in.
Thanks to USB-C support, the device communicates seamlessly with your PC, making it compatible with any computer. The Cypherock X1 Vault also has a small hook for the lanyard.
Cypherock X1 cards
The four X1 cards are encrypted NFC-based smartcards with EAL 6+ security elements. This simply means that they have exactly the same secure hardware as your bank’s credit card. The cards serve as a backup device, with each card storing a portion of your wallet’s private key.
They are the size of a conventional credit card and communicate with the Vault via an end-to-end encrypted path using NFC. According to the manufacturer, a card supports at least 500,000+ taps with the X1 Vault and stores the data for at least 20 years.
Setting up Cypherock is very straightforward
Now you’re probably wondering how the Vault and the cards interact and why two different types of device are necessary. I will try to explain this to you using the set-up process and the final security section.
Start the setup
The enclosed operating instructions ask you to go to https://cypherock.com/go to start setting up. There you can download the cySync desktop application for your computer. After the installation, you can start with the setup.
Set up the Cypherock X1 Wallet with cySync
Once the software is installed, you can launch it and start setting it up as a new wallet. The software is available in various languages, so you can choose German and other languages in addition to English.
After you have set a password for the software, you must connect your Vault. This is followed by an authenticity check of the wallet to rule out manipulation. The 5-way joystick and communication with the cards via tap, i.e. holding on to the Vault, are then explained.
Card authentication
This is followed by card authentication. To do this, you have to hold the four cards up to the Vault one after the other. This process links the cards to your Vault. At first I had a little difficulty reading the cards through the Vault. It worked best when the cards lay flat on the table and I put the Vault on top of the cards.
The wallet generation
You can then generate your first wallet with Cypherock or, of course, import an existing one. You can store a total of four different wallets in a vault.
To do this, select the “Create Wallet” option on the vault, choose a name and, if necessary, a PIN for this wallet and tap each card once on the vault. Your wallet is already set up. It is not necessary to note the recovery seed, as this has been safely distributed to the cards and vault. But more on this later in the security section.
The wallet is then synchronized with the cySync application and you can use the wallet. To interact with the wallet in the future, you will always need the vault, one of the four cards and, if specified, the wallet PIN to sign the action.
Once you have generated or imported all the necessary wallets, you should pack the cards in the protective sleeves provided and store them in separate, secure locations.
Summary of the facility
The Cypherock X1 Wallet takes a completely different approach to hardware wallets. No recovery seed needs to be noted, instead the private key is distributed to all participating devices. This makes setup quick and uncomplicated. The software is very clear and easy to use. It is also good that there are different languages to choose from.
This video provides a good summary of how to set up the wallet:
When you play this YouTube video, data is transmitted to Google.
Handling in everyday life
For everyday use, the Vault must be connected to your computer and the cySync software must be started. After entering the application password, you can use your wallet.
Use of the Cypherock cySync application
The application is the linchpin of your Cypherock Wallet
Here you can monitor your current portfolio, manage your maximum of four independent wallets, create new accounts for numerous cryptocurrencies for your wallets and send and receive them.
You can also interact with DApps and manage DeFi positions with the Cypherock X1 hardware wallet via WalletConnect.
As is usual with hardware wallets, interactions must always be confirmed on the hardware wallet, in this case the Cypherock X1. You must always enter the PIN for this.
Cypherock X1: Supported cryptocurrencies and devices
The wallet supports over 9.000+ (to the complete list) cryptocurrencies, including the following:
You can find a complete list here: Cypherock X1 cryptocurrencies.
The wallet can currently be used on a PC with all common operating systems:
According to the manufacturer, use via smartphone is planned.
Documentation and support
Cypherock attaches great importance to user-friendliness, even apart from the hardware. In addition to the intuitive operation of the wallet itself, you will find comprehensive documentation online. All important functions are explained in detail there – from setup and use to security aspects. There are also numerous video tutorials on the official YouTube channel.
If you still have questions or need help, Cypherock Support is there to assist you. You can describe your request by e-mail and you will usually receive a prompt reply.
Security of the hardware wallet
A hardware wallet is the most secure way to store cryptocurrencies. This is because these devices store the private keys that provide access to your cryptocurrencies. Only a hardware wallet can effectively protect private keys through numerous security measures. Even though all hardware wallets are considered very secure, there are small differences between each model. In addition, even with a hardware wallet, it cannot be 100% ruled out that a hacker can extract information with physical access with great effort.
Cypherock X1 Wallet describes itself as the first decentralized hardware wallet. I will explain what this means in this last part of the test report.
Security through Shamir’s Secret Sharing
Cypherock X1 decentralizes your private keys into five cryptographic parts using Shamir’s Secret Sharing, so that the loss of one part does not mean the loss of your crypto assets.
These five parts are divided between the four cards and the vault itself when setting up or importing a wallet. This means that the recovery seed is not displayed and noted during setup, as is the case with other wallets.
Five parts to save, but only two to spend
This means that the important private key is not in one place, but divided into five parts. However, you only need two parts to interact with the wallets. So it is sufficient to use the Vault plus a card in everyday life.
If the vault is defective or you lose it, you can use two cards to import your wallets to a new vault. Or if you lose three cards, all you need to do is restore the wallet with the vault and one card and distribute it to four new cards. Of course, you also need the wallet PIN that you defined during setup for each of these processes.
This additional PIN means that you are still protected if an unauthorized person gains access to two parts. The Cypherock architecture prevents brute force attacks on the Cypherock X1 by implementing an incremental wait time for incorrect PIN attempts. Brute force attempts block the wallets for up to 100 years.
Use Cypherock as a wallet backup
As the hardware wallet can manage up to four wallets with its own seed phrase and the option of securing them with a different PIN, Cyphrock X1 is also suitable as a wallet backup vault.
Let’s take the following example: You have two wallets: a software wallet and a hardware wallet. This gives you two seed phrases that need to be saved. You can import the seed phrase of the existing wallets into Cypherock X1 and use Cypherock as a seed phrase vault. This means you no longer have exposed seed phrases, no single point of failure and therefore more peace of mind.
How to store the five parts
As already explained in detail, Cypherock does not rely on a single seed phrase, but distributes your private key across several cards. You should keep these cards, protected by the special sleeves supplied, in different places. This minimizes the risk of someone gaining access to all your cards and stealing your cryptocurrencies.
Cypherock recommends not only separating the cards spatially, but also making sure that they cannot all be lost at the same time. For example, you could store them in different places inside and outside your home.
You can also appoint a person you trust as a “Human Guardian”. This person will have access to one of your cards in an emergency, for example if you lose a card.
Thanks to these security measures, Cypherock offers a high level of protection for your digital assets.
Security tested by Keylabs
The Cypherock X1 Wallet has undergone a comprehensive security audit by Keylabs, a leading company in the field of hardware security. Keylabs is known for uncovering vulnerabilities in common hardware wallets. The audit confirmed that the X1 implements numerous best practices in hardware and software security and offers some innovative security features not yet found in other wallets.
One highlight is the elimination of the single point of failure. By using the Shamir Secret Sharing protocol and splitting the seed across multiple cards, the risk of an attacker gaining control of the wallet is minimized. Even if a card is compromised, the funds remain secure.
Cypherock also relies on a proof-of-work algorithm in the event of a forgotten PIN and uses tamper-proof hardware components. The X1 cards are EAL6+ certified, comparable to the security standards of credit cards. You can find the full report here.
Product Specifications
| Advantages | |
| Disadvantages | |
| Compatibility | Bitstamp, NFT, DApp |
| Cryptocurrencies | Bitcoin, Dogecoin, Tron, Solana, Avalanche, Polygon, Fantom Opera, Ethereum, Litecoin, Dash, Ripple |
| Package Contents |
|
| Brand | Cypherock |
| Platform | Windows, Linux, Mac |
| Altcoin Support | |
| Supported Coins | 9.000+ (to the complete list) |
| Open Source | |
| Secure Element | |
| Display as 2FA | |
| Interfaces | USB, NFC |
| Input Options | Joystick |
| Weight | 20g |
| Size | 30x64x15mm |
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