Most secure Cryptocurrency Hardware wallet. World’s best cold storage wallet backed by Binance. Latest cold wallet to store Bitcoins.
This Product has
– SafePal S1 Hardware Wallet
– Seed Phrase case
– Alphabets list card
– User Manual
– Cover
SafePal S1 Cryptocurrency Hardware Wallet
In the year 2019 Cryptocurrencies worth $1.7 Billion were stolen from Crypto exchanges, Cryptocurrency wallets etc. Mostly because of shoddy security oversight and in some cases, extremely skilled hackers were able to gain access to the private key of funds by exploiting unaddressed security loopholes. Even Binance, one of the world’s biggest and the most secure exchange was attacked and a portion of the funds were stolen from it.
The point is, losing your cryptocurrencies to a human error isn’t worth the risk. Not even a fraction of your hard earned money should be wasted. That’s where Hardware wallets come in, to protect your cryptocurrencies from prying eyes on the internet.
What is a SafePal S1 Cryptocurrency Hardware wallet/ Cold Wallet?
When you think of a crypto wallet, imagine a safe storage for all your funds and the private key that allows only the authorized personnel to access the funds on the blockchain. The SafePal S1 Cryptocurrency Hardware Wallet helps you safely store your Private keys that let’s you access them offline. The Private keys stored on this Wallet cannot be accessed from the internet and hence protected from any attacks. When an attack happens on an exchange, there’s no real fund/fiat currency being taken out, but rather the private keys of the wallets of the user stored on the exchange’s server. An attacker then uses these private keys to withdraw the cryptocurrencies to their account.
SafePal supports over 20 Blockchain and 10000+ tokens. Support for more tokens and blockchains will be added in the future with firmware upgrade. There’s no connectivity like NFC, Bluetooth, or WiFi. This makes sure, that certain Over The Air (OTA) attacks can’t happen.
So how does the Safepal s1 Cold Wallet work?
Step 1: Users of the cold wallet need to download the SafePal App and pair it with the hardware wallet.
Step 2: When you choose to pair the SafePal hardware wallet and the mobile app; the wallet displays the QR Code for pairing. The QR Code is scanned by the scanner on the Phone app.
Step 3: Using the phone app, you can access some more data like portfolios of the cryptocurrencies stored etc.
Step 4: The App allows you to even send or receive cryptocurrencies when you need to.
What’s more? The Cold Wallet is even backed by Binance’s investment arm.
Features of SafePal S1 Cold Wallet
– Unlimited Cryptocurrency storage
– Add and Delete Tokens anytime
– Continuous feature upgrades/firmware upgrade on the roadmap
– Unique sign in mechanism that makes sure only authorized person can use it
– Super light weight & Easy to carry
– Camera for scanning the QR Code
– Small High Res display
– 400 mAh (lasts upto 20 days on a single charge)
How Safe is a Cold Wallet?
A Cold wallet or a hardware wallet is generally considered safe, as it can be carried anywhere with you to any place. As long as you don’t lose it, you’re good to go. In terms of protection from hackers, the hardware has military grade encryption that doesn’t allow access without the mnemonic phrase and the pin.
What is a Hot Wallet and a Cold Wallet?
Hotwallets are the one that are part of an exchange or a standalone wallets that is accessible via the internet. A Cold wallet is completely disconnected from the internet and can only be held and accessed offline.
Which tokens does SafePal S1 support?
For now, SafePal S1 supports 19 blockchains and more than 10,000 tokens.
The 19 blockchains and their native coins are:
– Bitcoin(BTC)
– Ethereum(ETH)
– Ripple(XRP)
– Bitcoin Cash(BCH)
– Litecoin(LTC)
– EOS
– Binance Coin(BNB)
– Stellar Lumens(XLM)
– TRON(TRX)
– Neo(NEO)
– Dash(Dash)
– Ethereum Classic(ETC)
– Dogecoin(DOGE)
– Harmony(ONE)
– Zcash(ZEC)
– DigiByte(DGB)
– Polkadot [IOU](DOT(Mainnet is yet launched))
– Kusama(KSM)
– Qtum(QTUM)
– and the Tokens below
Apart from the 19 coins mentioned above, all tokens issued on the Ethereum, Binance Chain, Tron, NEO, EOS, and Stellar have also been supported by SafePal S1
How do I upgrade my SafePal?
SafePal S1 supports firmware upgrade to enable SafePal users to regularly on-board the latest features and currencies. You can upgrade the S1 device by downloading the SafePal firmware version from here.
What if the wallet is missing or damaged?
So long as your mnemonic phrase is kept safe, no one can take control of your assets even if the thief gets your wallet. In the case of a wallet lost, stolen, or damaged, you can recover your wallet with the correct mnemonic phrase on a new SafePal device.
View our tutorial of wallet recovery from here.
How do I upgrade the firmware of Cryptocurrency Cold Wallet?
The firmware can be easily upgraded by downloading the firmware source code from the website and updating it through your Windows or Mac powered system. Please follow this step by step guide on ‘ How to upgrade the firmware of SafePal S1? ‘ mentioned below.
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