Grow and keep your crypto safe and with SafePal Wallet.
In this SafePal fundamental analysis and price prediction, I will be exposing you to everything you need to know about SafePal.
From its mobile and hardware wallets to its native cryptocurrency.
And how investing in and using SafePal products and services could be one of the best crypto investment decisions you will make this year.
So, without wasting time, let’s start digging out everything there is to know about SafePal.
What is SafePal?
SafePal is a secure, sophisticated, and simple cryptocurrency software and hardware wallet. It enables users to buy, swap, trade, grow and manage their crypto assets with ease.
The company was established in January 2018 with the sole aim of making crypto secure, simple, and easily accessible for everyone.
SafePal is the first hardware wallet to be backed and invested in by Binance.
And it also holds the “unofficial” record of the first tokenised hardware wallet.
What that means is that it is the first hardware wallet to have a native token.
The company claims to currently have over 60,000 users from more than 80 countries.
And supporting 10,000+ different crypto assets in its software and hardware wallets. And this is being updated several times within a month.
Check out the below infographic to see how far SafePal has come since 2018 until now.
The company is based in Shenzhen, China. The “cryptocurrency hub” and “silicon valley of hardware and electronic production” in China.
The SafePal team
SafePal was founded by Veronica Wong (CEO), who is responsible for user acquisition and global market expansion.
Harry Zhang (CPO), is in charge of products planning and management.
And Leaner Zhang CTO), who heads the development of firmware, App and back-end technology.
The team is said to have a 10 years+ combined experience in hardware, software, UI design, and cybersecurity.
Haven worked previously and maintaining connections with top technology brands such as Tencent, Huawei, and Samsung.
Watch the introductory video about SafePal and the team below put together by the Binance Labs.
SafePal Products and Services
What does SafePal have to offer? What are their core products and services that could be of any benefit to you?
We’ll find all that out in this section of the post.
SafePal is primarily a cryptocurrency wallet services and solutions provider.
Its wallet come in both hardware and software to cater to your every crypto assets storage and management needs.
From long term storage (hardware) to buying, receiving, sending, swapping, trading, investing, and management of your crypto assets (software).
Whatever your crypto assets storage and management needs are, SafePal got you covered.
And what’s more, the SafePal hardware wallet is the easiest and simplest to use.
It is equally the most secure and least expensive among its competitors, due to its competitive advantage of having low-cost access to cutting edge technology in its home town, Shenzhen, China.
List of SafePal products:
- The SafePal Software Wallet
- SafePal S1 hardware wallet
- The SafePal Cypher seed protector
- SafePal leather case
1. The SafePal mobile wallet
The SafePal mobile wallet App is more than just a wallet.
With it, you can buy crypto with cash via its fiat payment gateways such as Simplex.
The wallet is integrated with Binance so that you can easily trade like you would on Binance exchange.
Also packed into the wallet is the token swap functionality.
You can easily swap one token or coin for another with just a click of the button.
Did I forget to say that you can perform an instant swap of tokens from one chain onto another?
Yes! There’s an instant swap for ERC20 tokens to BEP2, ERC20 to TRC20, erc20 TO bep20 and vice versa.
Pretty cool, I must confess.
The app also comes with a dApp browser for accessing your favourite AMMs and yield optimizers from the major chains for your trading and yield farming operations.
Downloading the SafePal App
Also, you can easily pair your SafePal hardware wallet with the App and manage your assets seamlessly.
It’s worth trying out given how feature-rich the App is.
2. The SafePal S1 hardware wallet
What does one need in a hardware wallet?
- Absolute security
- Unlimited coin and token storage
- Easy asset management
- And affordable
The SafePal S1 wallets have some wow features that would impress even someone like who doesn’t fancy hardware wallets.
Aside from the fact that the wallet supports over 20 blockchains and 10,000+ tokens (and counting.
The SafePal S1 hardware wallet also has a self-destruct mechanism that deletes your private keys when someone tries to physically break into the device or using a software.
It is also 100% offline and air-gapped cold storage with no Bluetooth, no Wifi, no NFC, or USB connectivity.
Making it nearly impenetrable to unauthorised persons.
Oh! and should I also tell you that it’s as affordable as it is slim. As small as the size of a credit card and costs just $40 (excluding shipping cost).
If you need a hardware wallet, get the SafePal S1.
3. The SafePal Cypher seed protector
This is one item in their store that got me really thinking how cool SafePal is.
There’s this SafePal Cypher Seed Protection Board.
What does it do?
It is used to store and preserve your private key or seed phrase from corrosion, fire and heat damage, and other harsh conditions.
Above all, it is designed for easy installation and convenient storage.
And it is compatible with any hardware or software BIP39 wallet.
The current price of the SafePal Cypher seed protector is $45.
Some cool features of Cypher I cannot do without mentioning are:
- Cypher is made of premium 304-grade stainless steel
- It is fully resistant to water, fire, and acid
4. The SafePal leather case
Last but certainly not the least in their product line is a $10 protective leather case for your SafePal S1 hardware wallet.
The case is said to be waterproof, anti-drop, and scratch-proof. Effectively protecting your wallet from scratches and bumps.
The case can also double as store credit cards.
The SafePal Token (SFP)
The SafePal Token (SFP) is a Binance Smart Chain (BSC) based BEP20 native token that fuels the entire SafePal ecosystem.
The token has a total supply of 500,000,000 SFP.
And was launched and distributed via Binance Launchpad on February 8, 2021.
The token was listed on Binance the same day at $0.1 per SFP and it pumped hard by over 1,800% within the first 24 hours to $1.9.
As at the time of writing this line, SFP is trading at $3.30 according to CoinGecko —just 48 hours after Binance listing.
But what is SFP used for?
SafePal Token (SFP) use cases
- SFP is used to get discounts on SafePal products and services.
- The token can be used to claim special coupon and enjoy higher yields on the SafePal Earn and Lending programs.
- SFP can also be used to claim limited SafePal NFTs, get airdrops of tokens from SafePal partners, staking and earning rewards.
- The will also serve as the governance token of the SafePal ecosystem. Giving holders the ability to propose and vote for new features on SafePal products.
SafePal Token (SFP) price predictions 2021-2025
How much will the SFP token be worth by the end of 2021 and through 2025?
The short and correct answer is, nobody knows!
However, we’re going to apply knowledge, experience, research, and some hopium to try and predict the price of SFP token by the end of 2021 and through 2025.
SFP price predictions
The price of a token is determined by both speculation and project fundamentals.
Sometimes speculation can take the driving seat and pump a token beyond mathematical and economic reasons.
But sustained growth can only be achieved by strong fundamentals.
The SafePal Token (SFP) got both factors working in its favour.
Being a Binance-backed project, listed on Binance from the day one, and given its large community, there’s a lot of speculative money flowing through the SFP token.
The fundamentals are also very strong.
Wallets are an essential need of every cryptocurrency investor.
Whether you’re new or you’ve been here since the days of Satoshi, everyone needs a good wallet to store and manage their crypto.
And SafePal has a great product.
Its SafePal S1 hardware wallet beats competitors hands-down.
And the Mobile App is second to none in the space in terms of features and functionalities.
And remember this is all happening at a time the entire crypto market is experiencing a massive bull run.
Given the above analysis and the performance of the SFP token since listing, I am confident it will stabilise around $7 to $10 by the end of 2021.
For subsequent years I will assume a 100% YOY growth for the next 5 years.
And accounting for normal dips and market movements I feel safe expecting the SFP token to print these arbitrary price targets.
SafePal (SFP) price predictions for:
- 2022 = $10
- 2023 = $15
- 2024 = $20
- 2025 = $25
I personally don’t fancy hardware wallets but I must confess that I am impressed by the features of the SafePal S1 hardware wallets.
Its mobile App with complete DeFi suite, trading, token swap, fiat on-ramp, and other awesome features you would hardly find in other existing wallets is a winner.
What’s more, the project is partnered with some big names in the industry.
And it’s backed by none other than Binance —the world’s largest and fastest-growing blockchain company.
But does all these mean investing in the SFP token and buying the SafePal S1 hardware wallet is good for you?
Only you can decide that for yourself.
What’s your thought on SafePal, its hardware wallet, and mobile App? Share with us in the comments section below.