SafePal is a crypto wallet introduced in 2018 that helps users protect and increase their digital assets. SafePal offers hardware and software wallets, which are paired and managed through the SafePal app. It was the first hardware wallet to be invested in and supported by Binance.
SafePal supports numerous popular crypto assets and tokens on the Ethereum, BNB Chain (BSC), and TRON blockchains. Users can store, manage, exchange, trade, and expand their assets without jeopardizing the security of their assets, as SafePal assures.
Since its launch in 2018, SafePal has grown exponentially, with more than 3 million users in 196 countries worldwide.
As a governance token, SFP holders can participate in decision-making regarding allocating funds to the community treasury and adding new features within the SafePal ecosystem. Holders with a minimum stake of 500,000 SFP tokens can submit proposals and vote on these matters.
SafePal offers both hardware and software wallets, all of which are managed through the SafePal app. The SafePal S1 Hardware Wallet is a 100% offline and decentralized hardware wallet supporting over 30 blockchains and over 10,000 cryptocurrencies. SafePal S1 has advanced security technology, including EAL5+ Secure Element, self-destruction mechanism, device authentication mechanism, and more.
The SafePal Software Wallet is a secure, decentralized wallet that allows users to import, restore, and manage wallets and crypto assets on mobile devices. In addition, SafePal also offers the Cypher product, a metallic seed phrase board that protects your mnemonic phrase from water, fire, salt, and corrosion.
SafePal's native token, SFP, is a BEP 20 token that can be transferred to any wallet that supports the BNB Chain network. SFP can also be exchanged for other assets and used as a payment method for services. In addition, SFP also serves as SafePal's governance token, and holders can create proposals and vote on new features, such as adding new blockchains to SafePal products.
SafePal was founded in 2018 to create a secure and user-friendly crypto wallet that caters to beginners and experienced crypto users. It was supported and promoted as the first hardware wallet project by Binance Labs, Binance’s venture capital arm.
The team behind SafePal consists of experts in the fields of cybersecurity, hardware, and software. Although the company is still relatively young, its advanced products and services have quickly gained popularity in the crypto community.
Since its inception, SafePal has rapidly expanded its user base and now counts over 3 million users in 196 countries worldwide. This exponential growth has helped to increase the recognition and acceptance of SafePal as a trustworthy and secure solution for crypto asset management.
Period | Change | Change (%) |
---|---|---|
Today | $0.0392 | 4.89% |
7 Days | $0.1535 | 22.31% |
30 Days | $0.1901 | 29.16% |
3 Months | $0.1537 | 22.35% |
Several reasons could make SafePal (SFP) an attractive investment:
SafePal has strong support from Binance, one of the world’s largest and most reputable crypto exchanges, which speaks to the project’s security and future viability.
Second, the SFP token is not just a utility token that offers discounts for users and incentivizes SafePal users. Still, it also serves as a governance token for the SafePal ecosystem. SFP holders can actively participate in further developing and improving SafePal's product offering by submitting proposals and voting on new features.
SafePal has a broad and growing user base, which can increase the demand and, thus, the price of the SFP token. Since SafePal offers hardware and software wallets, it can appeal to a wide range of crypto users, from beginners to experienced users.
Finally, SafePal has various features and services beyond merely providing a crypto wallet, including the Wallet Holder Offering (WHO), which offers SafePal users access to airdrop tokens from SafePal's ecological partners in a secure, decentralized, and user-friendly manner.
While we cannot provide a reliable SFP price prediction over any timeframe, the following factors could offer you a better insight into the price action and volatility in this cryptocurrency:
Partnerships or integrations with other prominent projects or platforms in the crypto space can positively impact the SafePal price. Collaborations that enhance the utility and adoption of SafePal may attract more investors and drive up the SFP to USD price.
News of significant developments, upgrades, or new features related to the SafePal ecosystem can influence the price of SFP. Positive developments that improve the security, usability, or functionality of the SafePal platform may generate increased interest from investors and contribute to SFP price appreciation.
Investor sentiment and market speculation can significantly impact the price of SafePal. Positive news, endorsements from influential individuals, or positive sentiment within the community can attract more investors and drive up the value of SafePal token.
SafePal has a maximum supply of 500 million SFP tokens, of which about a quarter is currently in circulation. The circulating supply of SFP will continue to grow as more people use the wallet. SafePal users earn SFP tokens as part of staking rewards, by participating in SafePal campaigns, and by completing tasks within the wallet app.
According to the official source from SafePal, the token allocation is as follows:
1. Team: 20.00% of the total token supply
2. Foundation reserve: 20.00% of the total token supply
3. Community: 15.00% of the total token supply
4. Product & Marketing: 15.00% of the total token supply
5. Strategic Sale: 9.00% of the total token supply
6. Partnership & Ecosystem: 5.00% of the total token supply
7. Private Sale: 4.00% of the total token supply
8. Airdrop: 5.00% of the total token supply
9. Seed Sale: 2.00% of the total token supply
Users must first have SFP tokens in their SafePal wallet to stake them. The exact number of required SFP tokens can vary depending on the circumstances of the offer, including the reward allocation, tasks, and schedule.
Once users have enough SFP tokens, they can stake them by participating in the Wallet Holder Offering (WHO). This innovative airdrop mechanism offers SafePal users the first token reward allocation system. By staking SFP tokens, users can gain access to the airdrop tokens from SafePal's ecological partners in a secure, decentralized, and user-friendly manner.
As a project backed by Binance, SafePal has strong support from one of the world’s largest and most reputable crypto exchanges. In addition, SafePal has partnerships with various ecological partners who provide airdrop tokens for the Wallet Holder Offering (WHO).
Additionally, SafePal has built a strong relationship with its community, which is crucial in promoting and supporting the SafePal ecosystem. The community is actively involved in developing and improving SafePal by submitting proposals and voting on new features.
To use SafePal, you must first download the SafePal app and create an account. Connect a hardware or software wallet with their SafePal app to store, manage, and trade your crypto assets.
The SafePal app also provides access to various features and services, such as the Wallet Holder Offering (WHO), which offers SafePal users the first token reward allocation system of its kind, and the SafePal GiftBox, a feature that informs the SafePal community about new crypto projects and their latest updates and rewards users for completing assigned tasks and quizzes.
Finally, you can acquire and use SFP tokens, the native token of SafePal, for various purposes within the SafePal ecosystem, including user discounts, incentives for SafePal users, and participation in SafePal governance. You can hold and transfer SFP on any wallet that supports the BNB Chain network.
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