An In-Depth Guide to SafePal Cryptocurrency Wallet (2024 Latest and Most Comprehensive)

Source: SafePal

SafePal Wallet Introduction

For cryptocurrency investors, having a reliable and secure Web3 crypto wallet is an important step in entering this ecosystem. Today, let's get to know a top Web3 crypto wallet brand - SafePal.

SafePal is a Web3 non-custodial crypto wallet brand founded in 2018, with its team based in Singapore. The lineup of behind-the-scenes investors is impressive, including Binance, Animoca Brands, and Superscrypt, a Web3 investment fund under Temasek. Currently, SafePal serves users in over 200 countries and regions worldwide, with over 20 million users. The wallet supports over 200 public chain ecosystems, is available in 15 languages, and provides cross-chain swaps, NFT aggregation trading, DeFi yield farming, and the Inscription ecosystem in the app.

SafePal Product Line

At its inception in 2018, SafePal's first product was a hardware wallet (also known as a cold wallet). Later, SafePal successively released an app software wallet, a browser plugin wallet, and subsequently launched new hardware wallets S1, S1 Pro, X1. The current product line covers various forms of wallets, making it one of the few full-stack wallet brands in the industry. Moreover, according to the wallet's official statement, there have been zero security incidents since its establishment, and it has been audited by multiple security institutions. Next, let's take a look at the features of SafePal's products one by one:

SafePal App

The SafePal App is the core connecting hub for SafePal's various forms of crypto wallets. It can connect to SafePal hardware wallets, create multiple software wallet accounts, and support scanning to connect to SafePal plugin wallets on browsers, making it quite powerful.

In addition to regular wallet functions such as transfers, receipts, and currency management, the SafePal App also includes many practical extension features, including:

1. Cross-chain DApp support, customizable networks: SafePal currently supports 100+ public chains, including Bitcoin, Ethereum, BSC, Solana, TON, and TRON, along with the mainnet tokens, tokens, NFTs, and DApps on each chain (see the full list on the official website). It also supports customizable networks, allowing users to add the latest and most popular EVM networks themselves, which is flexible and convenient, suitable for users who often participate in airdrops.

2. Swap Trading: SafePal has aggregated decentralized and centralized cross-chain transaction channels, automatically recommending the most optimal channel. It supports numerous cryptocurrencies, including popular ones such as BTC, ETH, SOL, BNB, and MATIC, as well as meme coins like Babydoge. The fee display is transparent. In a test conducted by the author on the ETH/USDT pair, the fee was lower compared to the majority of wallets the author has seen, amounting to less than a quarter of the fee in the Trust Wallet.

3. Market Trading + Information Feed + AI Broadcast: The "Market" section in the SafePal App supports viewing real-time market data for tokens and NFTs, including basic token information, K-line charts, NFT floor prices, recent trades, whale tracking, among other features. Recently, a dynamic information feed was added, aggregating firsthand information and opinions from major domestic and international media and community KOLs, facilitating an understanding of the latest developments and unlock information of different projects. Additionally, the app includes an AI-powered Chinese audio broadcast, allowing users to stay informed about market dynamics in their spare time while doing tasks like brushing teeth, using the restroom, or commuting. This feature is particularly user-friendly for heavy traders or research-oriented users.

4. Exchange DApp: SafePal has integrated exchange DApps such as Binance and Bitget. The trading fees on these DApps are the same as those on the exchange platforms. Users can directly link multiple exchange accounts within the wallet, a feature that is relatively rare in other wallets. Moreover, when depositing or withdrawing on exchange DApps, users can choose to directly select one of the wallet accounts in the app, eliminating concerns about copying the wrong address and providing a seamless experience.

5. DeFi Yield Farming: In addition to displaying the types and amounts of assets staked by users in on-chain DeFi protocols, SafePal also offers a yield farming aggregator suitable for lazy and novice users. Currently, there are three main categories: DeFi Staking, Binance Earn, and DeFi Mining Pool, but the supported protocols are not yet extensive. For example, support for the recently popular restaking re-staking protocol is not comprehensive, and there is room for improvement in the user experience.

6. NFT Aggregation Trading: Aggregates transactions from OpenSea, Blur, Looksrare, X2Y2, allowing users to simultaneously receive bids from these platforms. Users can also input their own bid to list their NFT on multiple NFT trading platforms with one click, facilitating fast buying and selling of NFTs.

7. Fiat Onramp/Offramp: Supports mainstream compliant fiat onramps/offramps such as Moonpay and Simplex, enabling credit card and debit card purchases of cryptocurrencies (unfortunately, cards from mainland China cannot be used at the moment).

8. Bank Account Opening: SafePal also supports bank account opening functionality, currently available to users from 63 countries and regions globally. Users can easily open a compliant Swiss-named bank account in their wallet in just 10 minutes. After the account is opened, users can seamlessly transfer USDC to their SafePal bank account to convert it into USD, EUR, CHF, or CNY. Users can also transfer EUR from their other bank accounts to the SafePal bank account and then convert it into USDC, BTC, ETH, and hundreds of other tokens in their wallet, ensuring 100% genuine compliant fiat onramp/offramp. After opening an account, users will receive a Mastercard for convenient online and offline spending, which can be linked with GooglePay, ApplePay, Samsung Pay, AliPay, WeChat Pay, Meituan, and more. This feature meets the essential needs of cryptocurrency users. SafePal also supports fiat deposit to well-known trading platforms such as Interactive Brokers, Kraken, and Binance.

9. Airdrop Center QuestHub: Primarily hosts airdrop activities from other ecosystem projects to SafePal. It offers two types of airdrops: WHO and Giftbox. WHO activities usually involve projects before listing, and participants can receive early airdrops from the project team after whitelisting and completing specific tasks. Whitelist tasks typically include owning a hardware wallet or engaging in wallet transaction activities. Giftbox participation usually has lower entry requirements, and the number of activities is typically higher than WHO. Recently, the Airdrop Center held an event in collaboration with Circle, offering a limited-edition USDC custom hardware wallet for free. Users can take advantage of this offer. Previously hosted events included well-known projects such as Binance, Ultiverse, PancakeSwap, Injective, and Stader, making this section indispensable for airdrop enthusiasts.

10. Airdrop Radar: A part of the information board, SafePal will collect information on projects currently conducting airdrops, making it easy for everyone to understand which ecosystem projects are currently conducting airdrop activities. It is also a good tool to discover and participate in early airdrop events.

How to Download the SafePal App

The SafePal App is currently available for download on the App Store (you may need to switch to an overseas Apple ID) and Google Play. Android users can also download the APK installation package directly from the official website by clicking here.

SafePal S1/S1 Pro Hardware Wallet

The SafePal S1 is SafePal's most classic hardware wallet model, while the S1 Pro is an upgraded version of the S1, featuring a metal casing and a larger battery capacity. Both wallets pair with the app and sign transactions offline using QR codes, eliminating the need for a USB data cable, Bluetooth, or NFC. The QR code communication protocol is open source, ensuring security. The security audit of these wallets was conducted by the European team KeyLabs, known for their 2019 hacks of Ledger and Trezor. Both hardware wallets and the app support 100+ chains and are available in 15 languages. The current official pricing for the S1 is $49.99, and the S1 Pro is $89.99, with support for orders from the mainland China region.

SafePal X1 Hardware Wallet

The SafePal X1 is a new Bluetooth hardware wallet released by SafePal in 2023. It is open source and different from the other two hardware wallets in that the X1 pairs with the app and signs transactions using Bluetooth, simplifying the user's operation process and making it beginner-friendly. It comes with a 12-key keypad, is slightly smaller in size compared to the previous two models, resembling a bank U shield, making it very convenient to carry around. The product's audit was also performed by the Keylabs team mentioned earlier. The current official price on the website is $69.99, with support for orders from the mainland China region.

SafePal Browser Extension

Supporting both EVM and non-EVM blockchains, the SafePal Browser Extension allows users to connect to DApps on different chains simultaneously within the same browser, making it convenient to use. It also integrates a Swap feature for instant exchanges and supports linking with other wallets such as Ledger, MetaMask, Trust Wallet, and more. One notable security feature is that this extension wallet supports logging in by scanning a QR code from the SafePal App. Wallets generated on the SafePal App can be connected without importing the mnemonic phrase into the browser extension. When a signature is required, it automatically prompts the user to sign in the SafePal mobile app, thus significantly reducing the risk of private key exposure and theft.

That concludes today's introduction to the SafePal wallet brand. For more information, you can follow their Chinese Twitter or join the Telegram community.