SafePal SFP Price

SafePal History

• SafePal was founded in January 2018. The SafePal team has more than a decade of experience in hardware, software, user interface design, and cybersecurity.
• In September 2020 the integration with the Binance Smart Chain (BSC) crypto network was performed as well as the implementation of support for all tokens on the BEP-20 protocol
• In October 2020 the developers implemented full support for NFT tokens on the ERC-721, ERC-1155 and BSC protocols
• In January 2021, SafePal token (SFP) was launched.

SafePal Products

SafePal Software Wallet

This is a decentralized wallet that allows users to import, manage and restore digital assets as well as wallets on mobile devices. This is the mobile version of the wallet available for mobile devices and you can download it to your iOS or Android device. Alternatively, you can use a browser extension: just load SafePal Wallet into your Opera, Firefox, or any other browser and use it just like any other browser wallet.

SafePal Cypher Seed Protection Board

SafePal Cypher is a metal board with source phrases that protects your mnemonic phrase. It is completely corrosion-resistant to water, fire or acid. The board is made of 304 stainless steel and has an average melting point of 2548F/1398C.

SafePal's secure seed-phrase protection mechanism is easy to use, easy to install and compatible with BIP39 software and hardware wallets. The SafePal Cypher Seed Protection Board allows users to securely store 12, 18 and 24 word seed phrases in a convenient storage location.

SafePal Cypher is completely offline and makes setup and use easy. SafePal Cypher is compatible almost all BIP39 wallets.

SafePal Application

The SafePal app is an app that helps users link and manage SafePal Hard wallet and SafePal Soft wallet.

The SafePal token is safeguarded by a share confirmation mechanism (POS). In addition, Binance, on which SFP is based, has implemented a bug bounty program that offers rewards in BNB to people who discover flaws in Binance Chain and its smart contracts.  

SafePal Functionality

The big advantage of SafePal Wallet is that it provides users with staking and income farming functionality. You'll be able to do staking of your crypto assets and get a passive income hike with APY. The actual percentage will depend on staking assets as well on time. Meanwhile, SafePal claims to have several staking programs at different times so that everyone can find something suitable.

You can buy various crypto tokens and coins directly from your wallet using a credit or debit card. In addition to simplifying the purchase of crypto, SafePal also offers users the ability to exchange (swap) cryptocurrency in the wallet, as well as spot trading. SafePal's storage platform also supports cross-chain transfers. This means you can transfer your crypto assets from one network to another.

SafePal Advantages and Disadvantages

Summary

SafePal focuses a lot of attention on the security of its services. It has many different features, supports the purchase of crypto in the wallet and is available in three different forms, but the main plus is in its security measures.

SafePal is considered a very secure wallet. It is almost impossible to hack thanks to its built-in self-destruct mechanism when detecting such attempts. Also, the depository is universal: it supports about 30 thousand cryptocurrencies.