SafePal is one of the effective and highly secured hardware that is best for crypto investors and traders who are new to this digital currency market. Moreover, to this, it also offers software wallets as well. Meanwhile, its hardware wallet is integrated into the SafePal App, which is a one-stop solution that lets its users not only store but also manage and trade their crypto assets in simple steps without taking any much effort.
Among several products and services by SafePal, one of the popular hardware wallets is SafePal S1. It is a Hardware Wallet that was launched in the market back in January 2019. As this hardware wallet has been recently launched, it is significantly quite the latest in the crypto space. This hardware wallet supports a total of 19 blockchains, more than 10,000 tokens and also includes Non-Fungible Tokens (NFTs). Its supported 19 blockchains consist of Binance Chain and Binance Smart Chain (BSC) and apart from its native coin. Also, who are not aware, this is the first wallet that has been launched by SafePal.
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SafePal S1 Wallet setup steps
SafePal S1 wallets let its users send, buy, as well as secure, swap, and even exchange the crypto in most effortless way. The users can easily manage more than 10,000 cryptocurrencies at a single SafePal S1 hardware wallet. Today in this article, we are going to provide you a review of SafePal S1 including the process of its setting-up.
Setting up SafePal S1 is also a very easy and straightforward process. All you have to do is to download SafePal App and after installing it open the app on your device. After that, you will create or recover a wallet on your SafePal S1 hardware wallet and then pair it together. As soon as it is paired with the SafePal App, the users can easily secure as well as manage their owned crypto anytime at any place. This process is very easy and will take only a few of your minutes for the SafePal S1 Setup.
What makes SafePal S1 better than its Rivals?
There are a lot of features that makes SafePal S1 a better option from many hardware wallets that are present in the market from their competitor brands. Here we have provided you a list of SafePal S1 beneficial features which makes it one of the best hardware wallets in the market.
Cost-Effective
SafePal S1 is one of the cheapest hardware wallets available in the crypto market or space with only a cost of $39. Comparing this price to their popular competitors such as Ledger and Trezor, Ledger Nano S comes with a price tag at $69.99, while Trezor One is available at $79, and this makes SafePal S1 highly cost-effective.
Mobility & Compatibility
SafePal S1 is highly portable with its compact size and is also mobile-friendly as it is compatible with Android 5.0/iOS9.0 and its above version as well. The users can easily receive money anytime and anyplace with the help of an encrypted QR code. It also features a slim and lightweight design which makes it handy that you can easily carry around anywhere.
Top Security Features
SafePal has a high-security mechanism that self-destructs, which is also missing in its popular competitors such as Ledger Nano S and Trezor One. It is also built with a dual chip architect and features EAL5+ crypto chip which provides top level of security to your cryptocurrencies stores in the SafePal S1 wallet.
In addition to that, SafePal S1 wallet is completely offline and with no blue-tooth, Wi-Fi, and internet access, it ensures the safety of your digital currencies that are stored in its hardware wallet. Furthermore, it is also featured with true random number generator that most of the hardware wallets don’t have even at this present date. This also makes sure of your private key uniqueness to100 per cent.
It also comes with several sensor detector layers which identify any potential software or else any possible hardware attacks. As soon as any malicious attack is identified by the device, it itself is going to activate the self-destroy and the key-erasing mechanism, which will prevent your cryptocurrencies from stealing by any fraudster.
Easy-to-Use & Sleek Design
SafePal comes with a 1.3′ IPS screen, while talking about its biggest competitors Nano S and Trezor One both features a single colour display. It has high-resolution screen that displays each detail of the transaction that the user will make. In addition to that, its high designed UI details let its users to begin the crypto storage in a very simple and easy way.
Is SafePal S1 Wallet safe to Use?
Yes! SafePal S1 is highly safe to use and as it is a hardware wallet due to which it is 100 per cent offline which makes it secure from any malware. In addition to that, this hardware wallet comes with the advanced security features such as Self-Destruct mechanism, EAL5+ hack-proof chip, and few more. It also comes with easy backup and recovery features due to which the user don’t have to worry about their SafePal S1 wallet from getting lost or damaged. We have also described the safety features of SafePal S1 above in this article which are even better than its competitors as well and make it one of the best choices for hardware wallet to store and manage your cryptocurrencies.
Conclusion
Overall, it is highly recommendable and best for new crypto traders as well as investors and Crypto enthusiasts. It is completely offline and comes with a self-destruct mechanism for preventing any kind of malware attack. In addition to that, SafePal S1 also supports 19 blockchains along with more than 10,000 tokens as well.
Compared to its rivals, SafePal S1 is cost-effective and comes with the price tag of $39.99. However, there are some cryptocurrencies that this hardware wallet doesn’t support but overall it is a good choice that supports popular digital currencies like Bitcoin, Binance Coin Ethereum, ERC-20 tokens, and more. The best part is that even if your SafePal S1 is somehow damaged or is nowhere to be found, then also you can easily recover your fund as it features BIP39/44 seed phrase recovery which makes this possible.
