Find & Compare DeFi Products

USD

Search

SafePal S1 Review

SafePal S1

10

SafePals S1 is one of the new wallets on the market with high security standards and support from Binance. SafePal is founded in China in 2018 by industry veterans and is the first hardware crypto wallet manufacturer invested and backed by BinanceLabs. Binance is the world’s leading cryptocurrency platform and supports early stage blockchain startups in terms of contributing to the development of the crypto markets.

Get Wallet

SafePals S1 is one of the new wallets on the market with high security standards and support from Binance. SafePal is founded in China in 2018 by industry veterans and is the first hardware crypto wallet manufacturer invested and backed by BinanceLabs. Binance is the world’s leading cryptocurrency platform and supports early stage blockchain startups in terms of contributing to the development of the crypto markets.

When you open the box, you will find a SafePal S1 hardware wallet with a USB cable, cleaning cloth, mnemonic phrase card, and user manual. SafePal is an air-gapped hardware wallet that means it never establishes an active internet connection during the transactions. The camera on the device will help you to scan QR codes on the screen and transactions will be proceeded. The USB cable is only for upgrade purposes. When the company’s firmware has an update, you can always connect your device to any computer and update the firmware.

When you first open the package and start using the wallet, read the manual carefully. It is super easy to finish setup in a few minutes. You are required to create a PIN code and Mnemonic phrase words before being able to use your wallet. 12 or 24 keywords are very important to retrieve your account in case of the device is stolen, broken, or lost. You will use your key words to reach your account. Write your keywords on paper and keep it in a safe place.

SafePal is designed to work with mobile phones. If you are an active user and use a hardware wallet for daily operations, this wallet is a great choice. It is very easy to set up and convenient to navigate. The company provides updates on firmware very often. You need to connect your device to a computer only for update purposes. All transactions and operations can be handled by using a mobile phone. During the transactions, the hardware wallet will stay offline and never establish an active connection. All you need is scanning QR codes to authorize transactions.

SafePal S1 is the only wallet offered by the company SafePal. It is a very user friendly hardware wallet with an ergonomic design. SafePal is designed to be used with mobile phones. You can always carry the wallet in your pocket and use it with your mobile phone by using the QR code feature. The wallet is waterproof, scratch-proof, and self-destructive. The wallet will erase all important data in case of the hardware is attacked or tried to be broken into.

SafePal is built with dual chip technology that makes it more secure against hacks. Dual chip technology is that one of the chips is used to store the mnemonic phrase only while the other chip is used for all other operations and transactions.

Pros

Airgapped

Supported unlimited cryptocurrencies

waterproof and scratch-proof

Unlimited memory, capacity with unique algorithm

Cons

Not Open Source

Sales network is not well established

BC Vault One Reviews

SafePal S1 has excellent reviews overall. This wallet is quite easy to use for daily operations with your mobile phone. The device has a 1.3 inch big enough colourful, high resolution display and arrow keys to navigate. The size of the device is like a credit card but in thicker shape. The device has its own battery. The price and safety performance ratio is good compared to its competitors. SafePal S1 is priced reasonably compared to the same tier hardware wallets.

It is super easy to navigate while you perform your daily transactions. This wallet is great if you use a hardware wallet to manage your cryptos daily. There are 4 arrow keys and a OK button in the middle of arrow buttons. The screen is big enough and you can read and see every detail from a comfotable distance. The biggest part is it’s being airgapped. The device can work offline and this is a very high security feature.

Even the top tier hardware wallets have capacity problems for their non-premium wallets. Basic wallets have limited storage and you can not install too many apps. SafePal doesn’t have that problem. SafePal is compatible with the most of the popular DApps and platforms. You can use it on Uniswap, Compound or Binance with its mobile app’s integration.

SafePal S1 Wallet is a wallet compatible with many different apps and networks such as Bitcoin, Ethereum, BSC, XLM, ONE, XRP, Doge, and PolkaDot. The good side about SafePAl S1 is you can install and use as many as different cryptocurrencies you want, thanks to its unique and innovative encryption algorithm. You need to install different apps for different cryptocurrencies and networks on some other wallets. This problem is solved with SafePal S1. This wallet allows you to operate between different networks. SafePal S1 is tecnically can support unlimited cryptocurrencies. You can always reach customer service for a new coin to be added. They will add the new coin immediately.

SafePal has its own utility token SFP. SFP is a BSC based token with 500 million maximum supply. The wallet regularly makes offers and incentivize users to buy, earn and hold SFP tokens. Users can enjoy discounts with its utility token while trading. SFP token is a community governance token which means that holders can decide for the token’s future by proposing and voting.

SafePal S1 doesn’t have Bluetooth, WiFi or NFC features. The company’s claim is that the wallet is safer without those features. It works completely offline. The downside about SafePal is its retail network. It is not available and not easy to reach from most of the countries. The company doesn’t offer a traceable shipping process. It is not mentioned that if the wallet is shipped in a sealed box or not. There is an unique ID number for each wallet on the front side, this feature is to prevent fake and scam attempts.

Another big downside about the product is its firmware. It has been debated and anounced that the company was planning to go open source in 2021. However it didn’t happen. Open source softwares are good for security purposes. Communities can adopt and contribute the development of the software when it is open source. Individuals can check and audit the open source software independendly and user can be sure about the software.

SafePal S1 works with both IOS and Android. You can not use your wallet on a computer. The only need for computer is updating device’s firmware. You will connect the device to a computer with a USB cable and upgrade the firmware. You can download and install its app to your mobile phone and manage all daily

SafePal S1 Supported Cryptocurrencies

The SafePal S1 supports over 7 cryptocurrencies including Ethereum, Tether, USD Coin and Cardano.

Supported Software and Platforms

SafePal S1 Specification

Core Data

Brand name	SafePal
Wallet name	SafePal S1
Release date	May 0019
Package contents	SafePal wallet, USB Cable, Mnemonic phrase card, User Manual, Cleaning Cloth
Input methods	QR reader, Arrow keys
Mobile app	Yes
Tablet app	Yes
Desktop app	No
Open source	No
Altcoin support	Yes
FIDO U2F authentication	No
On screen 2FA	Yes
Multisignature	No
Fee control	Yes
Hierarchically deterministic	No
Pin code	Yes
Passphrase	Yes
Shamir backup	No
Password manager	Yes
Memory card slot	No
Not battery powered	Yes
Warranty	12months
Total supported cryptocurrencies	79
Supported languages	French, Korean, Japanese, Vietnamese, Spanish, Simplified Chinese, German, Traditional Chinese and Italian
Interfaces	Camera
Operating systems	Android and iOS
Fingerprint reader	No
Fast destruction	No
Self destruct	Yes
Face ID	No
Segwit	Yes
Legacy addresses	Yes
BIP32 compliant	No
BIP39 compliant	Yes
BIP44 compliant	Yes
BECH32 compliant	No

Physical Characteristics

Width	8.6mm
Length	5.4mm
Height	0.6mm
Air gapped	Yes

Display

Display diagonal	33mm
Display type	IPS
Touchscreen	No

Useful Links

Sign Up to Our Newsletter

Sign up to our email newsletter to be notified about the highest staking yields, loans and other DeFi products

Signup

Our Promise:

We never sell or give your email address to anyone

No spam

Cancel anytime

Thanks for signing up to our newsletter