What happens to my Cypherock X1 if Cypherock goes out of business?
- 1.Cypherock X1 allows users to be able to view the seed phrase of any of the wallets that are currently being secured. Therefore, having the X1 Vault and any one of the X1 Cards in possession, a user can view the seed phrase and transfer assets to another Crypto wallet of their choosing, which is BIP39 compatible. Here is the video guide for the same. To view the seed phrase, you don't even need to connect it to the cySync desktop app. You can view the seed phrase by connecting the device to a power bank as well.
- 2.In case Cypherock goes out of business and the user also breaks the X1 Vault, we will soon be releasing an open-source Android and IOS app that will allow the user to tap their X1 cards directly on an NFC-enabled smartphone to recover the seed phrase by entering the PIN and using any 2 X1 cards. Here is a prototype video of the same.