Latest SFP Crypto Review 2021: Is SFP crypto safe?

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SFP Crypto

Hi, And welcome to DesirePaul Network on SFP Crypto, In this post you will get full knowledge about SafePal(SFP) Crypto. SFP Crypto is the Cheapest hardware Wallet that help users to grow Digital Assets with ease.

SafePal was launched in 2018, it helps the users to grow the digital assets and provides security to ensure the safety of the funds.

Backed by Binance, the SFP crypto operates on the Binance Smart Chain protocol and was introduced to offer users a full end-to-end crypto wallet experience.

SafePal crypto (SFP) has enjoyed a bull-run off late. Ever since it announced to work with DreamQuest for its Dream Airdrop, the market has been abuzz with activities.

The SFP crypto has slowly but surely consolidated after seeing a low of US $0.82 on September 28. The news of it working with DreamQuest on October 12 led the SFP coin to climb over 140%, catching the eye of the investors.

Besides, Binance Smart Chain, the SafePal wallet support other blockchain assets such as Ethereum, TRON etc. The users can use the wallet services to trade, store and grow their portfolio without compromising with security.

What is SFP Crypto

SFP is short for SafePal Token, a utility token that fuels the entire SafePal ecosystem.

SFP is a decentralized digital asset based on the Binance Smart Chain, with a limited total supply of 500,000,000, issued by SafePal.

Who Are the Founders of SafePal?

SafePal was founded in 2018 by a team of crypto enthusiasts led by Veronica Wong. The project was developed to provide a reasonably affordable hardware wallet for crypto users.

Subsequently, SafePal was incubated by Binance in December 2018, receiving funds from the exchange to foster its development. In May 2019, SafePal launched its first project, the hardware wallet SafePal S1.

What makes SFP crypto unique?

Founded by Veronica Wong, the SFP crypto comes across as an affordable hardware wallet along with the software wallet. The users can trade in multiple cryptocurrencies such as bitcoins, Ethereum, BNB etc.

The users can take advantage of the SFP crypto to avail discounts and can also enjoy extra yields on various SafePal Earn and Lending programs.

Besides, the SFP crypto also offer the holders incentives such as token airdrops from ecological partners and staking rewards to its users.

The token can also be exchanged with other assets and can be utilised as a mode of payment and gives voting rights to the users.

SafePal products and services Include:

SafePal S1 Hardware Wallet: SafePal S1 Hardware Wallet is a 100% offline and decentralized hardware wallet that has supported 20 blockchains and 10,000+ cryptocurrencies.

SafePal S1 is embedded with advanced security technology, including EAL5+ secure element, self-destruct mechanism, device authentication mechanism, etc.

SafePal Cypher:

SafePal Cypher is a metallic seed phrase board that protects your mnemonic phrase against water, fire, salt and corrosion.

SafePal Software Wallet:

SafePal Software Wallet is a secure decentralized wallet that enables users to import, recover and manage wallets and crypto-assets on mobile devices.

SafePal App:

SafePal App is an application for users to manage the SafePal Hardware Wallet and SafePal Software Wallet.

(SafePal) SFP Crypto Benefits.

This are the likely benefits you will enjoy for creating SFP Crypto Account as a User.

Fees & Discounts

Users may use SFP for discounts on the SafePal products and services such as the SafePal Hardware Wallet and SafePal Swap.

Bonus Program

SafePal users can utilize SFP to claim special coupon and enjoy extra yields on the SafePal Earn and Lending programs.

Rewards & Incentives

SFP token holders have the privilege to enjoy incentives such as token airdrops from ecological partners, staking rewards or limited SafePal NFTs.

Community Governance

SFP token holders have the ability to create proposals and vote for new features such as adding new blockchains on the SafePal products.

How does SFP Crypto Works/ How to get SFP

  • Download SafePal App

Users may use SFP for discounts on the SafePal products and services such as the SafePal Hardware Wallet and SafePal Swap.

  • Buy SafePal Wallets

SafePal users can utilize SFP to claim special coupon and enjoy extra yields on the SafePal Earn and Lending programs.

  • Use SafePal Services

SFP token holders have the privilege to enjoy incentives such as token airdrops from ecological partners, staking rewards or limited SafePal NFTs.

  • Join SafePal Communities

Stay tuned with our latest update on Twitter, Telegram and Instagram.

  • Invite Friends & Families

Introduce SafePal to your friends and families to keep their crypto assets safe and sound.

SFP Crypto Review

SafePal provides efficient and highly secured hardware and software wallets for crypto investors and traders alike. These wallets are incorporated into the SafePal App, a one-stop solution, allowing users to store, manage, and easily trade their crypto assets.

Best For:

  • Newbie crypto traders and investors
  • Crypto enthusiasts.

Set up is pretty straightforward, it’s as easy as counting ABC. After you download and open the SafePal App, you have two options to choose from— software wallets and hardware wallets.

You can only pair hardware wallets. You can create a new wallet for the software wallets if you are a new user or import the old one.

New users can create a software wallet by tapping on the “Software Wallet” tab. This would lead you to the welcome screen. Then you press the “Next” button. You will be automatically asked to set a security password for your SafePal software wallet.

Like other platforms, you would need to input at least 8 alphanumeric characters to create your password. You can add your fingerprint to it and create a pattern password as an extra layer of protection.

Safepal S1 Hardware Wallet

SafePal S1 Hardware Wallet was launched in January 2019 and as such, it is considerably new to the crypto space.

The wallet supports 19 blockchains (including Binance Chain and Binance Smart Chain (BSC) and excluding its native coin), 10,000+ tokens, including Non-Fungible Tokens (NFTs). It is the first wallet launched by SafePal.

Tip: Non-Fungible Tokens are pieces of digital content supported by blockchain. Each NFT has its unique value and cannot be interchanged.

SafePal or SFP Crypto Pros and Cons

Pros

  • A self-destruct mechanism to prevent a malware attack.
  • Very cost-effective. It is priced at only $39.99.

Cons

  • Presently does not support some trending cryptocurrencies like Litecoin, Monero, TRON, EOS.

SafePal Token (SFP)

In January 2021, SafePal introduced the utility token SFP to the SafePal ecosystem.

SFP is a decentralized token that is based on the Binance Smart Chain (BSC). So far SafePal has issued about 500,000,000 limited SFP tokens.  SFP can be used in several different ways, including:

To pay fees:

Users can pay fees with the SFP and get discounts on SafePal products such as the SafePal hardware wallets and SafePal Swap.

  • For staking rewards:

You can stake SFP tokens to qualify for rewards from the SafePal Earn program. To stake means to hold funds in a cryptocurrency wallet.

  • To receive bonus & airdrops:

Holding the SFP token gives you the privilege to receive special coupons and collectibles from SafePal and its partners.

  • In community governance:

SFP token holders can vote on new features and initiate proposals such as including new blockchains on the SafePal products.

How is SFP crypto fairing in the market?

SFP is ranked 246 on CoinMarketCap and it was trading at US $2.88 with a 24-hour trading volume of US $ $1,940,429,294. At the time of writing (BST 7:35 am), SFP was enjoying a massive rally of 174.65% in the last 24 hours with a live market cap of US $311,762,123.

The SFP crypto has enjoyed a bullish run of late, and investors would do well to cash in on the wave at the moment. Provided the bull run last, it could well reach its all-time high mark of US $4.39 by the end of the year. The market experts are predicting that the rally will continue even in the next year as well.

Is SafePal safe?/ Is SFP Crypto Safe?

Yes, SafePal is easily one of the safest wallets out there. It comes with advanced security features like Self destruct mechanism, hack-proof EAL5+ secure element and two-factor authentication.

How many cryptocurrencies does SafePal support?

SafePal supports 19 blockchains plus its native coin and more than 10,000 tokens.

Conclusion on SafePal Crypto ( SFP)

In my research SafePal is among the best crypto wallets for both newbie and professional investors and traders, including crypto enthusiasts, It’s a reasonable price and also the best option for investors who are looking for affordable storage option.

It has also been confirmed that SafePal or SFP Crypto is the most cheapest hardware Wallet in the Crypto Space.

SafePal can be use Completely offline, SafePal provides an air-gapped solution for fast crypto transactions. It works 100% offline, with no need for Wi-Fi, Bluetooth or NFC connectivity.

Although it has a USB interface, the USB is only used for performing firmware updates only.

All in all, the market sentiment indicates a positive wave for SFP. As the wallet offers multiple cryptos to trade, it gives the users wide options to choose from and supports other blockchain networks.

This could be a viable investment option, considering its growth and investors would do well to make the most of it wave at the moment.

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