In this article, I will discuss the SafePal Wallet, a secure and convenient means of storing and managing one’s assets.
SafePal Wallet is simple – it is designed for secure cryptocurrency management and supports a variety of cryptocurrencies, so this tool is essential for every crypto lover.
What is Safepal Wallet?
SafePal has taken it upon itself to provide an efficient means of overseeing and managing a user’s cryptocurrency with no risk to the user’s virtual property.
SafePal, the first hardware wallet supported by Binance, has overcome more than 2 million customers in more than 146 countries.
The company’s range also includes safePal hardware wallets and the safePal mobile App for cryptocurrency management.
This facilitates the secure storage, administration, swapping, trading, and enhancement of cryptocurrency by users without compromising safety.
Quick Facts About Safepal Wallet
| Feature | Details |
|---|---|
| User Base | Over 2 million users across 146+ countries |
| Backed By | First hardware wallet invested in by Binance |
| Product Range | Hardware wallet and software wallet solutions |
| Management App | SafePal App for seamless access and management |
| Security Features | Advanced encryption, offline storage |
| Multi-Currency Support | Supports a wide range of cryptocurrencies |
| User Interface | Designed for ease of use for all experience levels |
| Trading Capabilities | Swap and trade cryptocurrencies directly in the app |
| Updates | Regular updates for security and user experience |
| Community Engagement | Actively seeks user feedback and suggestions |
How to Set Up & Use Safepal Wallet?
To install a SafePal Wallet and to use it, do the following steps:
Setting Up a SafePal Software Wallet:
Download SafePal App
Go to the official web or the app stores to download the SafePal application.
Set Up a Password
Create a password and an extra locking pattern or fingerprint for enhanced security.
Open A Wallet
Create a new software wallet and develop a 12 or 24-word seed phrase. Record it down and secure it.
Enter a Name For Your Wallet
Tag the wallet with a name and commence payment activities.
Add Coins/Tokens
Attach some of your favourite coins and tokens to the wallet.
Using the SafePal Wallet:
Find My Wallet
Click on the SafePal application and enter your password and pattern/fingerprint.
Send Cryptocurrencies
You can also send new crypto through the app or other applications.
Update On Other Functionalities:
There are also more features, such as multiple chains swapping tokens or linking with Dapps.
Stay Safe
Implement measures that will ensure the safety of your assets, such as good passwords and keeping your seed phrases in safe places.
Safepal Wallet Pricing
| Product | Price (USD) |
|---|---|
| SafePal S1 | $49.99 |
| SafePal X1 | $69.99 |
| SafePal S1 Pro | $89.99 |
These prices are exclusive of VAT and duty. SafePal offers a range of hardware wallets to suit different needs and budgets, ensuring secure management of your digital assets.
Safepal Products and Services
SafePal provides several relevant products and services for protecting and securing your digital assets.
SafePal S1
The SafePal S1 is also the first hardware wallet that is an open-source effort and sells for $49.992
SafePal X1
A more advanced air-gap version of the affordable SafePal S1 charged $69.993
SafePal S1 Pro
This comes with a full-colour display with a pixel resolution of 320*320and is priced at $89.994
SafePal Cypher
A ubiquitous wallet for crypto assets that provides portability.
SafePal Software Wallet
A handy electronic wallet for cryptocurrencies and various digital assets.
SafePal App
An all-in-one application that supports users in storing, managing, and conducting transactions with crypto assets.
SafePal Extension Wallet
Application for controlling and managing cryptocurrency assets through a Google Chrome browser.
Services
Crypto Bank
SafePal banking gateway facilitates crypto transactions8
Visa Card
Recently, the company issued SafePal Visa, a plastic card that accepts cryptocurrency for payment9
Multi-Chain Capability
SafePal app and extension can work with many blockchains, enabling easy use of Dapps and NFTs
SafePal Swap Fee
A booking fee of 0.3% is charged on every Swap order placed, while Bridge orders have no cost. This is in addition to the acceptable gas fee on the blockchain.
Bridge orders refer to the Swap orders that exchange a token of the same value from one Blockchain to another e. g from USDT (TRC20) to USDT (BEP20, or from BNB (BEP2) to BNB (BEP20). For such orders, SafePal does not collect commission fees.
Supported Cryptocurrencies
SafePal supports a wide range of cryptocurrencies, including:
- Bitcoin (BTC)
- Ethereum (ETH)
- Binance Coin (BNB)
- Solana (SOL)
- Ripple (XRP)
- Dogecoin (DOGE)
- Tron (TRX)
- Cardano (ADA)
- Avalanche (AVAX)
- Bitcoin Cash (BCH)
- Polkadot (DOT)
- Litecoin (LTC)
- NEAR Protocol (NEAR)
- Stellar (XLM)
- Ethereum Classic (ETC)
- Cronos (CRO)
- VeChain (VET)
- Cosmos (ATOM)
- Fantom (FTM)
SafePal also supports various tokens on these networks, such as ERC20 tokens on Ethereum, BEP2 tokens on Binance Smart Chain, and TRC10/20 tokens on Tron.
How SafePal Wallet Works
The function of the SafePal Wallet is to offer a safe way to manage all digital assets, such as purchases, exchanges, and storage.
Multi-chain and multi-token capabilities permitted easy use of tokens and Dapps.
Various features include a protective self-destruct function, video CC EAL5® Secure Elements for Encryption, and more.
SafePal mobile app and hardware wallet enable users to send and receive cryptocurrencies, track their portfolio, and use DeFi protocols easily.
User-friendly design with high security satisfied the management of digital assets through SafePal.
Are There Any Risks to Using SafePal Wallet?
Though the SafePal Wallet is constructed with numerous security features, there are still some risks that one has to acknowledge.
Phishing Attacks: Beware of fake websites/applications that impersonate SafePal Wallet.
Do not install any application that has not been downloaded from the SafePal website or authorized app stores.
Malware: Ensure this device has some viable antivirus capable of combating malware.
User Error: Forgetting or misplacing access devices to the virtual currency can lead to irretrievable currency loss.
Market Risks: There is a high probability of volatility in cryptocurrency values, and transactions may also depend on the market conditions.
Support Scams: Certain guilds, often on social media, charge users and offer fake support services.
6 Reasons to join SafePal Affiliate
Competitive Commission
Earn up to 10-20% commission from each sale
Distinct Brand Image
Binance invested in the first hardware wallet. Trusted and used by individuals across the continents
Flexible Settlement
Receive commissions in fiat or crypto, as you like
Comprehensive Media Kit
Useful sales materials are available anytime
Real-time Tracking
Track your sales data and income in real-time 7*2
Dedicated Sales Support
A strong SafePal sales team is always ready to help
SafePal Wallet Pros & Cons
Pros
High Security
Offers hardware and software wallet options, with advanced encryption and offline storage for maximum security.
Multi-Currency Support
Surpasses the expectation of offering a wide range of alternative currencies.
User-Friendly Interface
The app, the wallet, is designed to make it easy for first-time and experienced users.
Cons:
Limited Customer Support
Users have managed to speak above the support, but even when the need to reach out is there, hardly any user care or pleasure.
Learning Curve
The hardware wallet setup may be a little brutal for individuals not used to using hardware wallets.
No Direct Fiat Support
Some users may see the inability to purchase cryptocurrencies with credit cards through SafePal as a drawback.
SafePal Token (SFP
Mid-January of the year 2021 saw the launch of an SFP token in the SafePal ecosystem.
SFP is an ERC-20 token belonging to the ecosystem running on the Binance Smart Chain with 500 million thereabouts. The token has the following applications:
Paying Fees
For services paid for in SFP, users receive discounts on hardware wallets, SafePal Swap, and other products.
Staking Rewards
Holding SFP tokens and participating in the SafePal Earn program allows users to accrue gains from such holdings.
Bonuses & Airdrops
Besides buying and staking it, SFP also allows access to certain exclusive coupons, promotions, or partner earnings.
Community Governance
SFP tokens allow users to vote on new SafePal and PAL blockchain integration proposal features.
Is SafePal Wallet Safe?
SafePal Wallet incorporates high-security features to ensure its digital assets’ credibility.
It employs CC EAL5+ secure elements for encryption, self-destruction for security from unauthorized usage, and offline signing of private keys.
It has a friend-enabling interface while applying tight safety measures; hence, it is a good alternative to cryptocurrencies.
Still, just as with every digital wallet, security measures such as protecting one’s private keys and being aware of phishing are valid and must be adopted.
SafePal Wallet provides security, ease of usage, innovation, and protection to every cryptocurrency holder.
Security
The security of digital assets remains the first and foremost reason why investors or traders tend to look for a crypto wallet.
SafePal is ready to please its customers with impressive advanced security features.
Recovery seed
When creating your account in SafePal, you will receive either 12 or 24 random phrases that serve as your wallet’s recovery seeds. These must be taken note of and stored.
Secure element.
A SafePal Hardware wallet is embedded with a hack-proof EAL5+ secure element.
The EAL5+ is the world’s most sophisticated crypto chip used in stores for private key control.
Once an intruder steps in for unauthorized access or hacking attempts to take over, the destruction and erasure of the device will take place pic.
Two Factor Authentication.
Every crypto transaction on the SafePal mobile applet incorporates two-factor verification to-factor, using something you use and something you know to sign and verify the election.
Key-reverify
SafePal S1 hardware wallet possesses a key deletion tool. This allows you to manage adding and removing various cryptos and tokens easily.
SafePal Wallet Alternatives
Here are some popular alternatives that can replace SafePal in managing your cryptocurrencies, with the majority of the competitive features being of concern:
Ledger
Regarded as very secure, this company markets a series of hardware wallets, including the Ledger Nano S and Ledger Nano X.
Trezor
Trezor is another great and secure hardware wallet with a Trezor Model T and Trezor One model.
Elliptical
Apart from the other, this wallet is revolutionary because it is completely 100% air-gapped, meaning there is no physical connection to the internet.
CoolWallet S
A thin and stylish wallet in the shape of a card can be placed in your purse where ultimate protection is guaranteed.
SafePal vs. Tangem Wallet Comparison
| Feature | SafePal Wallet | Tangem Wallet |
|---|---|---|
| Price | $49.99 (S1), $69.99 (X1), $89.99 (S1 Pro) | Varies |
| Security | CC EAL5+, self-destruct mechanism, offline signing | Secure chip, tamper-proof design |
| Supported Cryptocurrencies | BTC, ETH, BNB, SOL, XRP, DOGE, TRX, ADA, AVAX, BCH, DOT, LTC, NEAR, XLM, ETC, CRO, VET, ATOM, FTM | BTC, ETH, BNB, SOL, XRP, DOGE, TRX, ADA, AVAX, BCH, DOT, LTC, NEAR, XLM, ETC, CRO, VET, ATOM, FTM |
| User Interface | Mobile app, hardware wallet | Mobile app, hardware wallet |
| Additional Features | Visa card, multi-chain support, DeFi support | Multi-chain support, DeFi support |
| Availability | Widely available | Widely available |
SafePal Wallet offers Customer Support.
The SafePal Wallet offers customer support to its users through different helping channels.
Help Center
You may go through the SafePal Help Center to check for FAQs, product troubleshooting materials, and relevant articles on how to use their products.
Submit a request
It is also easy for people who need support to submit a request through the SafePal website.
At the bottom of the homepage, click the “Submit A Request” button, select the issue category, and explain the details surrounding the issue.
Customer Support
A Help Desk telephone number is also available for immediate assistance. Call SafePal customer support at +1 (815)-306-0309 for assistance.
Email can be used for general issues and support ticket resolution, although email should not be used for emergencies.
Within 24 – 48 hours, SafePal is focused on ensuring its services are very satisfactory and will respond in the time zones provided above.
Conclusion
SafePal Wallet is a reliable, easy-to-use, and cost-efficient platform that effectively handles one’s digital assets wishing to improve security and comfort.
SafePal contributes to the safety of the assets with various cryptocurrencies, advanced security such as CC EAL5+ secure elements, and user functions such as a self-destruct feature and offline signing.
The wallet can work with devices such as hardware and mobile applications.
To first-time crypto investors and those experienced in the field alike, SafePal Wallet looks and works just right for one’s requirements and improves digital finance capabilities.
