Cold Wallets

What is SafePal?

Binance Labs, the entrepreneurial arm of cryptocurrency exchange Binance, has supported SafePal. The SafePal S1 Hardware Wallet, SafePal Cypher Seed Protection Board, SafePal Leather Protective Case, and the SafePal Token are the company's most important goods and services (SFP).

Due to its products and services, particularly the SafePal S1 hardware wallet, the company is gaining traction in the crypto world. Another aspect boosting the company's growth is its capacity to build alliances with other crypto-based or crypto-supporting platforms, such as Rarible, a crypto ecosystem NFT marketplace, and Travala, a trip booking platform that accepts crypto payments.

How to open a SafePal account?

After opening the downloaded SafePal app, click on “Software Wallet” and then on “Create Wallet”. Next, give the wallet a name and choose the number of the seed phrase you want to create for it. The longer the seed phrase is, the more secure it will become. Now you have created your software wallet, and all you need to do now is to find your SafePal cold wallet on the list of available devices, connect to it, and send your assets.

What are the Pros and Cons of SafePal?

It supports over 1000 assets, has strong security measures, has a self-destruct mechanism when the device detects a virus or malware attack, is very affordable, and integrates with Binance. The cons are that it has a complex process of sending trasactions, has a small screen, its build quality isn’t as good compared to its competitors, and it is not completely air-gapped.

Website

Visit the official wallet website, which contains detailed valuable information about it. You'll also find here answers to frequently asked questions, various support tools, or interesting news and articles.