What is SafePal (SFP) Token?
SafePal is a crypto wallet backed by the world’s popular exchange Binance. SafePal intends to offer a secure and user-friendly crypto management platform where-in users may grow their crypto assets safely without any hassle. Focusing on security, user experience, and completeness, SafePal strives to protect assets from malicious attacks.
The main aim of the platform is to provide a decentralized, open source-offline wallet with an enhanced security system. The users here can easily swap, manage and grow their portfolio and also view their DeFi assets across different chains. They can also manage their software and hardware wallets with a single App.
| Launch Date | 02-02-2021 |
| Founder | Veronica Wong |
| Blockchain Protocol | Binance Smart Chain |
| Native Token | SFP |
| Market Cap | $52.33 million |
| Token Type | BEP-20 |
| Circulating Supply | 108.16 million |
| Max Supply | 500 million |
| Consensus Method | Proof-of-Stake |
Who Are the Founders of SafePal?
A tech veteran, Veronica Wong, along with Anthony Morrissey founded SafePal in 2018 with a mission to cut out the middleman with enhanced security. Further, SafePal was incubated by Binance in December and was aided by the platform to carry out the developments and upgrades. Within a couple of years of launch, SafePal has managed to gather over 3 million users in 196 countries globally.
How Does SafePal Work?
SafePal is a crypto wallet known to provide better security & user-friendly crypto management platform. The wallet supports 23 blockchains, 15 languages, more than 10,000 tokens and Non-Fungible token standards. The platform is also integrated with Binance spot trading, Binance DEX as well as all of the decentralized applications on the BSC, Tron, Ethereum & Polygon networks.
The native token of the platform is SFP which is built on the Binance Smart chain and works as both a utility and a governance token. The SFP holders are eligible for discounts on SafePal products & services. One can also stake SFP tokens to earn rewards and also participate in the governance system by casting a vote.
What Makes SafePal Unique-Uses Cases?
The crypto wallet supports multiple crypto assets like Bitcoin, Ethereum, BNB, etc and many more. The native token SFP can be transferred to any Binance Smart Chain-based wallet and may also be exchanged with other assets and can serve as means of payment for services also. The holders may also create proposals and vote on new features.
Below mentioned are some of the use cases of SafePal,
SFP Token
As mentioned earlier, SEF is the native token which works as a utility and governance token, possessing huge use cases. Being a BEP-20 token, it can be easily transferred within the Binance Smart Chain network.
SafePal App
SafePal App is a platform built for users to manage their Hardware and Software wallet.
SafePal Sofware Wallet
The software App is basically a mobile App using which the users can import, recover, and manage wallets & other assets.
SafePal S1 Hardware Wallet
The S1 hardware wallet is the most secure cold wallet which is 100% offline. It is a decentralized wallet that supports more than 30 blockchains and 10K plus crypto assets. The wallet is highly secured as it uses advanced security technology that includes EAL5+, secure element, self-destruction mechanism, device authentication mechanism etc.
Safepal S1 Cypher
It is a metallic Seed Phase board that protects your mnemonic phrase which is usually 12 to 24 words long, wherein each word in the phrase is unrelated to the other. These phases are provided each time you open a new account and noting down & storing these phases is imperative. The metallic seed phases intend to protect these mnemonic phrases against water, fire, salt or corrosion.
SafePal WHO
SafePal WHO or Wallet Holder Offering is an innovative mechanism that offers the users the highest priority to access the tokens of the airdrop conducted by the partners. Meanwhile, the participants are required to hold SFP tokens within their wallets. However, the amount of tokens required to hold depends on the offering, tasks and timeline.
SafePal GiftBox
Giftbox is an integrated feature within the wallet that enables the community to learn about new projects along with their latest updates. The rewards like tokens or NFTs are also given on completion of certain tasks and quizzes.
SafePal Price Analysis
Source: Tradingview
- SafePal token had ignited the 2022 trade with a significant upswing after undergoing a minor correction post the 2021 bull run
- However, the token dropped heavily as the bears regained control and external factors like the Terra Crisis then and FTX now compelled the price to remain within bearish captivity
- Despite the bearish start for the month, the SFP price managed to gather significant buying volume, which uplifted the price by nearly 200%
- The bears continue to reclaim their dominance but the bulls appear to be poised to keep up the momentum and maintain a notable upswing after a brief consolidation
| SafePal Price Today | $0.447 |
| Price Change <Yearly> | -79% |
| Market Dominance | 0.018% |
| Market Rank (as per CMC) | 319 |
| Market Cap | $48.38M |
| Fully Diluted Market Cap | $223.38M |
| ATH | $4.39 |
| ATL | $026 |
How to Buy SafePal in India?
One can buy SafePal on CoinDCX which is the most popular bitcoin & crypto investment App in India. The App is simple and safe with industry’s best security measures. Registering on CoinDCX is also very easy, all you need to do is follow the below-mentioned steps,
- Download CoinDCX App on your smartphone
- Enter the details and register yourself
- Complete KYC
- Once your profile is verified, fund your wallet and buy SFP token
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