Home Cypherock X1 Brings Unmatched Security and Asset Inheritance Solutions with Cypherock Cover

Cypherock X1 Brings Unmatched Security and Asset Inheritance Solutions with Cypherock Cover

While self-custody wallets offer a high level of security, they also come with potential risks like losing your access or not being able to pass down your assets safely to your family. Popular hardware wallet provider Cypherock offers a new solution, Cypherock Cover, that is currently unmatched, combining cold wallet security and innovative features like inheritance planning and PIN recovery.

Secure and Seamless Solutions for Crypto Inheritance and PIN Recovery

While hardware wallets have sophisticated security features to protect users’ assets, their design flaw makes it difficult to pass on the assets in case of a user’s death.

Existing inheritance solutions often rely on seed phrases in wills, on-chain protocols, or custodial services. These methods introduce risks such as centralization and potential exposure to insider attacks.

Cypherock Cover offers an innovative alternative. It uses the Cypherock X1 wallet’s decentralized architecture to transfer assets to designated nominees without compromising security or privacy.

cypherock cover

This way, users maintain complete control over their assets without requiring a third party to manage their private keys. Moreover, this solution supports multiple blockchains, tokens, and NFTs, allowing the inheritance to pass all the user’s assets.

Cypherock Cover also offers a PIN recovery service to easily recover access to your account. The process involves splitting the encrypted PIN into multiple parts using Cypherock’s decentralized architecture, ensuring no single point of failure.

To access Cypherock Cover, users can choose between a Silver Plan for PIN recovery and a Gold Plan for PIN and estate recovery.

cypherock cover comparison

Here’s how the inheritance feature works in detail:

  1. Set up a Cyperhock X1 wallet by creating a master seed phrase split into five secure parts.
  2. Select a recovery plan, linking the PIN to the master seed.
  3. Select a trusted nominee, such as family members or attorneys.
  4. Each nominee is assigned a Cypherock X1 card and receives an encrypted message for inheritance. The message remains unreadable and inaccessible until the estate recovery triggers it.
  5. Whenever the system detects inactivity defined by the user, the activation trigger ensures assets are transferred in genuine inheritance scenarios.

The Ultimate Security Solution with Cypherock X1

In addition to the incredibly valuable inheritance feature, Cypherock X1 also changes the game with its decentralized approach to private key management. This ensures user funds remain secure even if some components are lost.

The Cypherock X1 wallet decentralizes private keys into five cryptographic parts using Shamir Secret Sharing. These parts are distributed across five tamper-resistant components: one X1 Vault and four X1 Cards. Users only need one card and the vault device to authorize transactions, ensuring continued access even if one or two components are misplaced.

cyperhock x1

With its dual-chip architecture, the X1 Vault enables offline computation and verification, while an OLED display and joystick make signing transactions effortless. At the same time, the NFC-enabled X1 Cards provide secure storage using EAL 6+ secure elements — the same technology found in high-security bank credit cards.

Comprehensive Portfolio Management with cySync app

The cySync app adds another layer of convenience for Cypherock X1 users. It enables them to manage over 9,000 cryptocurrencies, including popular coins like Bitcoin, Ethereum, and Solana, and all the tokens and NFTs built on these blockchains, like the popular meme coins Bonk and Trump.

Using WalletConnect, users can seamlessly connect their wallet to dApps for NFT transactions and DeFi activities like yield farming and staking for passive income.

cysync app

Cypherock X1 also supports up to four distinct wallet profiles within a single device. This flexibility allows users to allocate separate wallets for NFTs, DeFi assets, or Bitcoin holdings. Additionally, it serves as a seed phrase backup manager and is compatible with wallets like Ledger, Trezor, Metamask, and Trust Wallet.

Industry Recognition

Cypherock X1 has been rigorously scrutinized to ensure its reliability and security. KeyLabs, renowned for identifying vulnerabilities in other hardware wallets, has audited it. WalletScrutiny has verified its software builds, further solidifying its reputation. With a 4.8/5 rating from Coin Bureau, Cypherock X1 is among the highest-rated hardware wallets globally.

Adding to its credibility, Cypherock X1 is listed in the Bitcoin.org wallets directory and has been recognized by prominent platforms like 99Bitcoins.

Cypherock has ambitious plans for the future, including launching a mobile app and introducing a swap feature in early 2025. These developments aim to make cryptocurrency management even more accessible and efficient for users.

Explore the Future of Digital Asset Inheritance

Cypherock has consistently been at the forefront of digital asset management. Now they are pushing the boundaries once more. With Cypherock Cover Estate Recovery, you can have peace of mind that your assets can be passed on to your loved ones, ensuring their wealth and prosperity.

About ReadWrite’s Editorial Process

The ReadWrite Editorial policy involves closely monitoring the tech, gambling and blockchain industries for major developments, new product and brand launches, AI breakthroughs, game releases and other newsworthy events. Editors assign relevant stories to in-house staff writers with expertise in each particular topic area. Before publication, articles go through a rigorous round of editing for accuracy, clarity, and to ensure adherence to ReadWrite's style guidelines.

Gaurav Roy
Editor

Gaurav is a skilled writer and content expert who has collaborated with companies and individuals worldwide. While he specializes in the crypto and iGaming industries, he also writes for sectors like eCommerce, artificial intelligence, clean-tech, and various technology-specialized websites. To date, he has contributed his insights to more than 50 businesses and news sources, such as Ledger, Energent Media, Coin Market Cap, Shyft Network, and Venture Beat. Gaurav holds a digital marketing certificate from Brandveda and is a Google Ads-certified marketer. In his leisure time, he blends imagination and technology to create engaging doodles using AI.

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