CoinEx | Binance’s Quiet Triumph in Cold Wallet, What Makes SafePal Sell Well All Over the World?
At present, the cryptocurrency market has seen a deluge of hardware wallet projects, and investors’ preferences and needs for crypto wallets have become more and more diversified. Among all the emerging products, a cold wallet, though usually low-key, is attracting much attention. As a star project that gained strategic investment from Binance in 2020, this wallet became a popular buy in nearly 60 countries around the world within half a year after the initial sale. It is SafePal — the only hardware wallet that Binance has invested so far.
SafePal is a crypto wallet project that integrates hardware and software technologies. It is committed to providing a secure and user-friendly crypto management platform for the public, safely and conveniently protecting and increasing users’ digital assets. At the same time, it supports real-time hardware and software management, allowing users to store, manage, and transact crypto in the easiest way.
With its unique hardware and software services, SafePal has received over 3 million users in more than 200 countries. And it currently supports 20-plus public chains including ETH and Solana, multiple NFT platforms such as Opensea, Rarible, and DEGO, and over 10,000 tokens.
Moreover, users can check out various DeFi protocols on SafePal, including PancakeSwap, UniSwap, and Compound, or execute other functions such as staking. It is fair to say that as a crypto wallet, SafePal features high compatibility and user convenience.
The current Safepal wallet package is both functional and stylish, which contains an S1 hardware wallet, mnemonic phrase cards, and a leather sheath. Like in other hardware wallets, users scan QR codes to verify and confirm transactions. But different from others, SafePal has a more budget-friendly purchasing price, which is lower than $50.
SafePal S1 features an innovative hardware design. It is embedded with a cutting-edge secure element, a high-quality camera, and a high-resolution screen. SafePal is tiny and slim in size, and its operation is 100% off-line, protecting user information from any leakage. Also, its self-destruct mechanism is worth mentioning. Once any malicious attack is detected, software or physical, the device will destroy the private key to ensure maximum security. But still, users are recommended to use SafePal under security protection.
In terms of operation system, SafePal supports both IOS and Android devices and offers Buy, Send/Receive and Swap functions on both. It is compatible with Binance DEX and other popular projects from the Ethereum ecosystems such as 1Inch, Curve, and AAVE. In addition, SafePal integrates the most popular DApps on Ethereum, Tron, and Binance smart chains, allowing users to bookmark their favorite Dapps with one click.
SFP is SafePal’s native token and has the following attributes:
1) Fees and discounts: Users enjoy gas fee discounts on relative products such as SafePal Wallet and SafePal Swap;
2) Staking: Users can stake their assets on SafePal and receive SFP rewards;
3) Rewards: SFP holders are entitled to special coupons, exclusive activities, and special collectibles from SafePal and its eco-partners;
4) Community governance: SFP holders can initiate proposals and vote on items such as the use of the fund reserve, or new initiatives, for example, listing a new blockchain on SafePal products.
As the first hardware wallet project strongly supported by Binance, SafePal has gained a substantial user base. At present, the team has raised a total of $7.2 million, along with considerable user traffic potential. Safepal’s native token SFP has been listed on trading platforms such as Binance, Gate, and CoinEx. Furthermore, whether the project will show a better security performance, let’s wait and see.