Today I would like to write a review about the Safepal. I was searching the internet for a couple of weeks to find the perfect Hardware wallet, and I must say I am really impressed.
The Safepal S1 can hold over 20,000 different tokens/coins and is the one and only that works COMPLETELY offline. How you say? Through QR code! Scanning and getting back and forward from your mobile phone and your Safepal. Besides that you also need to put your pin code everytime. Without your device, you can not really do much with your app. Even for staking your coins you need to scan a qr code. Launched in 2019 and backed by Boss Binance itself they made quite an appearance. With a 1.3 inch screen and the looks of a MP3 player, I thought, this is it for me. It is not hackable online, and physicly if somebody tries to screw around with your Safepal it wipes out all data. Whether it is by putting the wrong pin code all the time or actually opening up the device, it recognizes it as danger.
It comes in a neat small box including a charging cable, wipe, recovery phrase sheets, an easy manual and some stickers.
What also appealed to me a lot is that the software works on your phone. Even though I can not stake my coins offline, I still am a big fan of the staking itself. You have access to multiple big rewarding Liquidity Pools, but the one I use is just CAKE (The only non-LP pool besides Banana). I get an APY of around 60% and it works so good. The euros are flowing in and I don't have much risk unlike LPs since CAKE is undervalued. The only downside to this is with every fart (change) you make, you pay a fee or around 1.50. Whether it is retrieving your funds, putting funds or cashing in on your rewards.
The software is pretty safe too since you need your physical device to send Crypto. I like the layout of the app a lot and it gives access to dApps (please still be careful with what you use) and Binance itself. Safepal also has it's own mini exchange but in order to trade you need high amounts.
Then there is also the Giftbox with Airdrops (always nice) and their own token: The Safepal Token SFP on the BEP20 Chain. If you don't know BEP20, since Ethereum has it's own smartchain with ERC20 Binance got it too, but then it is called BEP20. Bep is actually an old Dutch name. Some grandma's are still called Bep in this country. Coming back to the topic, Safepal S1 is the one and only Hardware Wallet with it's own Token. And I believe it to be undervalued. If you have been reading more of my blogs, I guess you have already found out that I love undervalued things :)
Owning the Safepal token you get a decent amount of benefits. You can get some discounts, earn extra yields, getting rewards and having a saying in future features.
Some important notices: The Safepal S1 comes installed with some safety measures, you can even check if the device has been tempered with or if you are truly the first owner. Also the checkup if you wrote down your recovery phrase good etc. But still please be careful: ONLY BUY FROM TRUSTED SELLERS OR SAFEPAL ITSELF. GO CHECK IF YOUR SELLER IS AN OFFICIAL SELLER. PLEASE DON'T TAKE RISK AND BUY FROM AMAZON OR WHATEVER!
With a current price of $60 it definitely beats the Ledger Nano S. The Safepal S1 is an affordable mobile friendly hardware wallet that will steal your heart.
