SafePal is a cryptocurrency wallet that enables customers to store and grow their digital assets securely. It is a powerful platform for managing assets that lets users trade crypto, buy, swap, and easily access dApps. SafePal delivers hardware and software wallets, linked and maintained by the SafePal App, and was the first hardware wallet in which Binance funded and provided support.
The platform's main goal is to provide a decentralized, open source, offline wallet with a better security system. Users can easily trade, manage, and build their portfolios, as well as monitor their DeFi assets across many chains. Additionally, they can manage their software and hardware wallets using a single application.
A tech veteran named Veronica Wong and Anthony Morrissey started SafePal in 2018 with the goal of removing the middleman while improving security. Moreover, SafePal was incubated by Binance in December and assisted by the platform in carrying out its development and improvement efforts. Within a few years of its introduction, SafePal has attracted over 3 million users in 196 countries worldwide.
SafePal was created to provide customers with affordable hardware wallets and secure software wallets. The wallet platform supports various cryptocurrencies, such as Bitcoin, Ethereum, and Binance Coin (BNB). Its native token SFP is the wallet's utility token and is used to offer discounts to users, encourage SafePal users, and for other purposes.
SafePal is a well-known crypto wallet that offers enhanced protection and a user-friendly interface for crypto asset management. The wallet is compatible with 23 blockchains, 15 languages, over 10,000 tokens, and the Non-Fungible token standard. The platform is also connected to Binance spot trading, Binance DEX, and all the decentralized apps on the BSC, Tron, Ethereum, and Polygon networks.
SFP is the utility token natively used for:
Fees & Discounts: Users can utilize SFP to receive discounts on SafePal products and services, including the SafePal Hardware Wallet and SafePal Swap.
Bonus Program: SafePal users can utilize SFP to get special coupons and earn higher returns on the Earn and Lending programs.
Reward & Incentives: SFP token holders are entitled to perks such as token airdrops from ecological partners, staking benefits, and limited SafePal NFTs.
Community Governance: SFP token holders can make proposals and vote for new features, like adding new blockchains to SafePal products.
DATE NEWS/EVENTS IMPACT 14/11/2022 The collapse of FTX helped decentralized wallets since the SafePal wallet acts as a mediator, connecting different blockchains via its nodes +73% Increase 23/11/2021 SafePal gets listed on KuCoin +60% Increase
SafePal is one of the most popular wallet applications in the DeFi industry. It is a key tool for people who want to keep track of their assets. Its Binance endorsement enables customers to fine-tune their deals with Binance's built-in spot trading features.
The wallet offers a variety of assets and blockchains, in addition, to yield farming opportunities with SafePal Earn. The Hardware wallet is a specialized layer of security for users who wish to safeguard their money in cold storage. It is intended for long-term storage, whilst the software wallet application is designed for daily interaction.
SafePal gives users many ways to earn, send, and receive tokens in one place. The protocol has built-in features that make it easy for users to buy and sell crypto and interact with decentralized applications (dApps). With the huge alliances already recorded by the protocol, users would be able to interact with more dApps in the future.
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