About 43.8% of stolen crypto in 2024 came from private key compromises. Such alarming statistics call for better crypto wallet security, which we hope to explore in this SafePal wallet review. We will look at not only the security but also the overall value for users.
SafePal offers a unique combination of hardware, mobile, and extension wallets. This approach offers flexibility that most products in its category lack. You can seamlessly conduct your transactions with the extension wallet or opt for a hardware wallet you can carry around or leave in a secure location.
In this guide, we’ll look at how the SafePal wallet works, its features, and its security architecture. Our goal is to discover if it is worth buying in 2025 compared to other wallets and which wallet we recommend as an alternative.
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What is the SafePal Cold Wallet?
The SafePal cold wallet debuted in 2018 as one of SafePal’s first products in the crypto wallet industry. It’s a hardware wallet, fully air-gapped, and 100% offline.
Two products are available in the cold wallet segment, S1 and X1. The SafePal S1 has a pro version that offers enhanced security and features. Nonetheless, the base S1 wallet is okay for storing old and new cryptocurrencies without worrying about a breach.
The SafePal S1 wallet is one of the first hardware wallets to receive investment from Binance Labs. That endeared it to crypto users during its launch, making it a trusted hardware wallet among users in over 200 countries.
You’ll pay more for the SafePal X1 wallet. While the SafePal S1 hardware wallet offers air-gapped signing, the X1 wallet uses high-speed Bluetooth signing. The X1 wallet also uses a larger monochromatic screen (1.8”) compared to the S1’s full-color 1.3” screen.
How does the SafePal wallet work?
Like any other cold wallet, the SafePal hardware wallet allows users to keep the private keys offline. It is also fully decentralized, meaning you have full control over your assets (self-custodial).
The hardware storage approach is one of the best ways to guard against crypto scams and hacks. With the S1 wallet, you never have to worry about connecting to the internet.
Instead of an internet connection, the SafePal S1 wallet uses a secure chip to store your private keys and perform cryptographic operations. Such operations occur during crypto transactions, whether it’s transferring crypto or receiving tokens in your wallet.
When it comes to usability or functionality, you can pair your SafePay crypto wallet with the app. This approach allows you to access more functions with the wallet, such as:
- Managing your crypto and NFT assets right at your fingertips
- Connecting your wallet to the expanding DApp galaxy for more crypto functionalities
- Seamless swapping of assets across chains with low fees and the best rates
- Ability to boost rewards and APY with established staking and yielding DeFi and Binance Earn products
The SafePal hardware wallet is accessible in several regions and continents through its broad reseller network. When you get it, these are the items you can expect in the box:
- One SafePal S1 hardware wallet
- A cleaning cloth
- Two stickers
- Three mnemonic phrase cards
- A user manual
- The download app card
- One USB cable
The wallet is only the size of a credit card, portable, and lightweight. Hence, you can carry it around like your credit card while maintaining 24/7 access to your crypto assets.
Pairing with the Wallet App
As mentioned earlier, most functionalities come with the SafePal wallet app. Once you get the wallet, download the app via the download app card.
Before we get to the pairing process, you’ll have to set up the wallet as a first-time user. Setting up allows you to subsequently pair it with the app and get set for new ICO drops in 2025.
For the setup process, here’s what you have to do:
- Select a language and proceed with device authentication.
- Scan the QR code on the S1 device with your cellphone to open the verification page.
- Enter the 6-digit randomly generated verification code on the verification page.
- The authentication result should show that the device has never been used before.
- Scan the QR code on the authentication page to activate the S1 wallet.
Once activated, you can set up your S1 wallet by creating a new wallet or recovering an old one. Simply click your preferred option and proceed with the on-screen prompts.
The Pairing Process
At this stage, your SafePal S1 wallet is set and ready to go. The next step is downloading and setting up the SafePal wallet app. You can download the app from the official website.
Once downloaded, complete the security configurations. These include setting up a password, fingerprint lock, and pattern. Then, choose the hardware wallet option to add a new hardware wallet to the app.
You should receive a QR code on the SafePal wallet app. Open the S1 wallet and select “Scan on device.” Then, use the S1 wallet to scan the QR code on the S1 wallet app.
The next step is entering the PIN code on the S1 device to authorize the connection. Entering the PIN code will generate a set of dynamic QR codes on the screen. Use the SafePal app to scan the QR codes on the S1 device. Once that happens, your hardware wallet and the app will be paired.
With the app pairing, there’s no need to manually add coins or tokens to your wallet after the first time. You can use the wallet app to view all the supported cryptocurrencies in the wallet.
Adding a Native Coin to Your SafePal Wallet
During our SafePal wallet review, we added several coins to our newly created wallet. Surprisingly, the process was swift. But, most importantly, it is simple enough for any new crypto wallet user to understand.
Here’s what you have to do when adding a coin to your SafePal hardware wallet:
- Open the SafePal wallet app.
- Select the “+” button to add a new coin.
- Select the coin or coins you want to add.
- Scan the generated QR codes on your S1 device to add the coins.
- Once added, you can view the coins in your “Asset Management” tab.
Functionalities in the SafePal Wallet App and Browser Extension
One of SafePal’s standout features is flexibility through its mobile app or browser extension. Both are available on iOS and Android devices and browsers. As such, you can access your crypto assets anywhere, anytime.
With the app, you can create wallets for different crypto assets, just as you would with Best Wallet. For example, your NFTs could all be in one wallet while your Solana tokens stay in another for easy access and management.
These are the things you can do with the wallet app:
- Buy crypto: The SafePal wallet app supports several payment options for crypto purchases. We tried card payments during our SafePal wallet review, and the process was snappy. Besides credit and debit cards, you can also use PayPal and other cryptocurrencies. Some of them include BTC, ETH, and Dai.
- Swap tokens and conduct spot trading: You can make several crypto swaps through the “Swap” tab. As for spot trading, that is possible due to the Binance integration in the wallet. You can spot-trade on the Binance mini-program and also bridge tokens without leaving the app.
- Crypto analysis: The wallet app offers real-time K-line tracking inside the app. With that, you can effortlessly stay ahead of bull and bear markets, especially with Bitcoin’s recent surge.
- Staking and earning: You can stake crypto assets in mining pools within the SafePal wallet app. Like Best Wallet, you don’t need any third-party DeFi to stake and earn in the app. Even better, the app’s yield aggregator avoids gas fees and auto-compounds interest to maximize returns from the stake pools.
- Explore with DApps: During our SafePal wallet review, we were impressed by the number of supported DApps. The support cut across several chains, including Ethereum, Optimism, and Polygon.
The X1 Hardware Wallet
The X1 hardware wallet is another outstanding product from SafePal. If you don’t want the regular S1 device or the Pro version, then the X1 is the one to go for.
Instead of using the air-gapped signing mechanism in the S1 device, the X1 hardware wallet uses a Bluetooth signing mechanism. This approach improves efficiency, hence the higher price than the regular S1 device.
You’ll also get 12 buttons on the X1 hardware wallet for more functionality and smooth usage. As for global accessibility, we had no trouble during our SafePal wallet review. The wallet supports 10 languages, including French, English, and Spanish. Even so, there are plans to add more languages soon.
Just like the S1 device, you’ll have to pair the X1 wallet with the SafePal wallet app. That unlocks all the functionalities you need to manage new ICOs, crypto airdrops, new tokens, and NFTs. The pairing process is similar to the S1 device. Hence, we recommend referring to that process when pairing your X1 wallet with the app.
Note that all signatures on the X1 hardware wallet require the hardware wallet authorization. There is also room for a firmware upgrade for the open-source Bluetooth hardware wallet.
The SafePal Wallet Browser Extension
SafePal wallet’s browser extension is available for Chrome, Edge, and Firefox browsers. Whichever you pick, you can be sure of stellar service, as we did during our SafePal crypto wallet review.
With the browser extension, you can buy, trade, view, and store digital assets on your browser. You can also access DApps across different chains while working on your laptop or desktop. Even chains beyond EVM are accessible on the browser extension, making it one of the most versatile options among SafePal’s products.
The user interface is friendly, even to beginners. We had no trouble navigating the platform during our review. Even better, the connection to DApps remains solid when you switch to another wallet. The DApp connection will automatically redirect you to the new DApp.
Supported DApps in SafePal include PancakeSwap, Uniswap, QuickSwap, OpenSea, Curve, and Raydium.
You can create or import multiple seed phrases via the browser extension. That allows you to manage all your wallets in one place, improving efficiency.
When needed, you can always connect your browser extension with your mobile and hardware wallets. That is possible via the QR codes or Bluetooth (for the X1 hardware wallet). Your private keys will remain encrypted on your phone or kept offline in your SafePal devices.
We recommend connecting the browser extension to the SafePal hardware wallets. That way, you can keep your private keys offline.
How to Use the Browser Extension
The first step is to install the extension on your browser. Go to the official website and click the link for the installation. The installation will go smoothly, just like any other browser extension.
Once you’re done with the installation, do the following:
- Click the SafePal wallet extension button at the top of the page.
- Click “Create New Wallet.”
- Enter a password for your wallet.
- Generate a mnemonic wallet phrase. This phrase is a random 12-word phrase. It will serve as your private or secret key to access your wallet if you forget your password.
The process is that simple. You will be redirected to your dashboard, where you can manage your cryptocurrencies or NFTs.
To receive a coin or NFT, simply navigate to that section and click “Receive.” The wallet will generate a QR code and your wallet address. You can use any one to receive cryptocurrency or NFTs.
Swapping is also possible with the browser extension. This process was as straightforward as using the app during our SafePal wallet review.
You can keep all three running (mobile app, wallet extension, and the hardware wallet). It’s the best approach to get the most out of the SafePal wallet in 2025.
SafePal Hardware Wallet Security & Features
When it comes to security, the SafePal hardware wallet performed impressively during our tests. Just as described, the S1 device is completely offline. That means it is nearly impossible to hack. Nonetheless, we recommend you keep your private keys secure as well. If those leak, your hardware wallet may be hacked effortlessly.
The SafePal hardware wallet is also fully decentralized. You are in control of 100% of your assets, whether tokens or NFTs.
Other core security features in the wallet include the following:
- EAL 6+ independent secure element
- True random number generator
- Multiple layers of security sensors
- Anti-tampering self-destruct mechanism
With the S1 device, there’s no WiFi, NFC, or USB connection. That creates a 100% air gap, giving users fully offline cold storage for their crypto assets.
The battery in the S1 device can last up to 420 hours on standby. It is a 400 mAh battery. Besides that, the wallet offers a self-destruct mechanism. This mechanism will automatically delete your sensitive data if it detects tampering on the physical device. The sensitive data erased in such a scenario includes your private keys.
Multi-currency support is another strong suit for the SafePal hardware wallet. The wallet supports over 30,000 cryptocurrencies and tokens. That includes major players like Bitcoin and Ethereum. With this extensive support, you can effortlessly manage multiple portfolios. We had several portfolios running during our SafePal wallet review, from AI agent coins to meme tokens.
Despite its many advanced security features, the S1 hardware wallet and the X1 wallet remain competitively priced. You can also choose among basic, classic, holder’s, and backup bundles. The classic bundle is the most popular, and it comes with free shipping as of the time of this writing.
CeDeFi Banking Gateway
This gateway allows you to use your SafePal wallet with over 40 million merchants across the globe. It is the bridge between traditional finance and crypto trading.
With the CeDeFi banking gateway, you can top up your SafePal wallet with fiat or crypto. Whichever you pick, the wallet will be accepted by merchants in the network. You don’t have to worry about conversions from crypto to fiat or vice versa. Simply use the virtual VISA card for your transactions seamlessly.
The CeDeFi banking gateway is a fully compliant Swiss bank account. It operates with a license from the Swiss Financial Market Supervisory Authority (FINMA).
You can set up your account seamlessly with zero fees. Account management also comes with zero fees for SafePal wallet users.
Onboarding and Acquisitional Gateway
SafePal wallet isn’t restricted to crypto wallet services like most wallets. It is also an onboarding bridge for public chains as well, and a good one at that.
Blockchain partners, including their mainnet, native coins, token standards, NFT standards, and decentralized applications, will enjoy robust support from SafePal. The platform also offers educational content to guide users through the blockchain ecosystem and how to secure their crypto assets.
SafePal partners with blockchain foundations to boost their ecological growth. It does this by supporting their early-stage projects.
Another prominent feature is the user acquisition gateway. This gateway allows blockchain projects to educate, acquire, and convert high-quality real crypto users.
So far, SafePal has completed successful quest campaigns for over 30 projects. These projects cut across DeFi, NFT, CEX, and DEX sectors.
The SFP Token
SafePal isn’t the first wallet to have a native token. Best Wallet, our top recommended choice, has its native token as well.
Like other native tokens, the SFP token powers the SafePal ecosystem and governs the community. It is issued on the BNB Chain and Ethereum.
The total supply of SFP tokens is 500 million. 300 million are on the BNB Chain, while 200 million are on Ethereum. The token launch in 2021 was the first IEO on Binance Launchpad.
SFP is available on over 20 centralized and decentralized exchanges, including Binance, PancakeSwap, KuCoin, Bybit, and Biswap.
The SFP token utilities range from fees and discounts to asset management, exclusive bonuses, candies, and the ecosystem.
Fees and Discounts
You can use SFP for fees and discounts when buying SafePal products and services. They include the following:
- SafePal hardware products, including the S1 and X1 wallets and accessories
- Fees when submitting new DApps for listing on the SafePal platform
- Fees when submitting new tokens for listing on SafePal
- Fees to rank your DApps higher in the SafePal DApp store
- Fees to publish AD banners within the SafePal wallet app
- Fees to customize the hardware wallet for you
- Fees for future services, like a collectible marketplace
You may also enjoy exclusive discounts on the Binance App mini program if you pay with SFP. The full utilization of the token for transactions began in 2022.
Asset Management
The SafePal Earn programs provide several opportunities for you to earn by staking SFP tokens. You can also exchange for gas fees seamlessly using SFP. Simply do that through the Gas Station feature in the SafePal wallet app.
Besides getting extra interest by staking SFP tokens, you can also get points to level up the account tiers. Higher account tiers in the SafePal banking services bring several exclusive benefits.
Exclusive Bonus and Ecosystem
As an SFP token holder, you will be privileged to enjoy the following:
- Special coupons and privileges from SafePal and its partners
- Exclusive first-seat access to airdrops launched on SafePal, including Wallet Holder Offering and Gift Box programs
- Special collectibles from SafePal and its partners
- Access to exclusive SafePal features like VIP title, leaderboard in future programs, and customer avatar
As for the ecosystem, the SFP token is a primary driver for the open-source hardware solution. With it, developers can effortlessly integrate QR code communication protocols into their systems. That includes DApps and wallets.
Developers will also need the SFP token to build custom applications based on SafePal’s hardware architecture. Then, they can utilize the solution in diversified user cases like F2U.
How to Get SFP Tokens
You can buy SFP from supported centralized and decentralized exchanges. Binance is a prominent option, given its long-term support for SafePal. You can also buy the tokens on PancakeSwap.
Another way to get SFP tokens is through token airdrops. For that, you’ll have to use SafePal products and join the community to participate in airdrops and other incentive programs.
SafePal Hardware Wallet – Supported Coins
As of 2022, SafePal supported 48 blockchains. That number has increased to over 80 chains, as seen during our SafePal wallet review. The blockchains include major names like Bitcoin, BNB Chain, Ethereum, Solana, Tron, Cardano, Polkadot, and Fantom.
For tokens and coins, we counted thousands of them. However, not all tokens are available for purchases or swaps on the platform, which is a minor letdown. Some of the tokens not supported for purchases or swaps include KuCoin tokens, XinFin, Venom, Caduceus, Boba Ethereum, and Chroma. A few others are supported for purchases but not swaps, and vice versa.
Similarly, not all tokens and coins are available across all the platforms. Some are available on the mobile wallet app, S1 device, and X1 wallet, but not the extension.
The prominent tokens onboard include Manipulated Time, Defiant, Tether USD, Shiba Inu, Bitget Token, Render Token, Aave Token, Mantle, and Official Trump. For the coins, you have Bitcoin, Ethereum, Ripple, Binance, Solana, Dogecoin, Cardano, Avalanche, Bitcoin Cash, NEAR Protocol, Litecoin, and Cosmos.
You’ll find the best altcoins and DeFi tokens on SafePal. That makes the wallet a valuable resource for any crypto user. It not only provides secure, self-custodial storage but also supports thousands of tokens and coins across dozens of blockchain networks.
For even better support, we recommend Best Wallet as the best alternative. This wallet is available primarily on mobile, meaning you can access your tokens anywhere. You’ll find all the major cryptocurrencies and blockchain networks on Best Wallet, with even more features than SafePal Wallet.
SafePal Wallet: Advantages & Disadvantages
When compared to other crypto wallets, SafePal is among the best and most affordable. The wallet maintains a low price while retaining all the significant security features that make a crypto wallet worth the purchase. Nonetheless, we discovered several shortcomings as well during our SafePal wallet review. Here are the advantages and disadvantages:
| Advantages | Disadvantages |
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Where Can You Buy a SafePal Cold Wallet?
You can buy a SafePal cold wallet directly on its official website. Free shipping is also available for selected countries, depending on how many you buy.
Besides the wallet, you can also buy the leather case. SafePal offers a 1-year warranty on the wallet with 24/7 customer service.
As of this writing, the bundles for the S1 device are as follows:
- Basic Bundle
- Classic Bundle
- Backup Bundle
- Holder’s Bundle
The same bundles apply to the S1 Pro and the X1 wallet. There isn’t much difference between the S1 Pro and the regular S1 device besides the build quality and the bigger battery. You still get the air-gapped signing mechanism and fully offline cold storage.
Here are the steps to set up your Best Wallet account: You can download the app via the links on the official Best Wallet website. Alternatively, you can search for the app on the Google Play Store and the App Store. The only reason for your email is to receive the 6-digit verification code when setting up your wallet. It is not for any KYC reasons. Simply enter the code to verify your email and complete other security settings like password, biometric, and 2FA. You can create a new crypto wallet or import an existing one to manage it in Best Wallet. Direct crypto purchases are available in the wallet as well.
We were impressed with the features and functionalities during our SafePal wallet review. The crypto wallet’s air-gapped signing mechanism gives it an edge over most software wallets. You also get the feature to manage NFTs seamlessly on the wallet in addition to your coins and tokens. Speaking of coins and tokens, SafePal is a notable choice for broad portfolio management. The wallet supports thousands of coins and tokens on over 80 blockchain networks. SafePal Wallet is worth buying in 2025. However, we don’t recommend it for beginners. Our best alternative to SafePal is Best Wallet. It is much simpler for beginners while still offering advanced features for expert crypto users.Best Wallet – Our Recommended Alternative
Step 1: Download the app
Step 2: Enter your email
Step 3: Log in and create/import your wallet
SafePal Wallet Review – Conclusion
FAQs
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