The SafePal S1 hardware wallet is probably the most affordable feature-packed wallet you can get today. Its development was invested in by Binance Labs and it has many advantages to other much more expensive wallets on the market today.
This wallet was sent to me for free, however, this video is not sponsored, and these are my genuine thoughts on the product after testing it out myself and I will continue to use it out of preference.
It allows you to store many different cryptocurrencies and is very thin and easy to carry around. I wish I had a case or something with it given it has a camera on the back though to avoid scratching it. That being said, this is the only wallet I know of that has a camera that allows you to scan QR codes which makes its usage much faster and more convenient than other wallets. The screen also has color so it’s a bit easier to read and use than most colorless screens. The d-pad is easy to use and they even have a nice verification system to determine this wasn’t used by anyone else beforehand when you set it up for the first time.
It uses the same secure chipset as most other mainstream hardware wallets which is the CCEAL5+ certified chip and safely can store your private keys on the wallet itself with this chip. It connects and charges via a micro-USB cable. While it has slightly more limited coin support than say the newest Ledger Nano device, it supports BTC, ETH, BNB, TRON, and their tokens. This includes over 1,000 ERC20 tokens and many BEP2 tokens. Compared to the ledger devices, you’re only missing a few major coins like LTC, XRP, and several other less popular coins. Though you have less cryptocurrency support, the amount you save with this device is well worth the small limitations. The only other downside is that it doesn’t have Bluetooth like the Nano X, but again the price difference is huge and for the small convenience you’re better off saving your money.
In the setup process, I verified my device with the mobile application by first scanning the QR on the wallet and then typing in the verification code. Then you can start creating your wallet. Write down and verify your mnemonic phrase which can be 12,18, or 24 words, set your 6-digit pin and then begin connecting to your wallet. With the mobile application, you go to add wallet, scan the QR code on your phone and then scan the QR code on the wallet. Now you’ve paired your wallet and you’re ready to roll.
Given this was sent to me for free and I already have a Ledger Nano X, I was debating selling it after the review, but I actually like it so much that I’ve decided to keep it to store my BNB, TRON, and a few ERC20 tokens. It easily has the best navigation and usability, one of the major drawbacks is just aesthetic and it's that due to its glossy front side, it ends up with a lot of fingerprints, but aside from that and lacking support for some coins, it has next to no drawbacks. Given though that the more comparable wallet is the Ledger Nano S which is about $40 more, it’s fairer to say that the S1 is significantly better given the Nano S can only hold a few wallets due to space limitations, limited navigation, colorless screen, and higher price. However, it would be nice if it also had a desktop app like Ledger live.
There’s a reason Binance invested in this product. I highly recommend it as one of the cheapest options out there with the best functionality and navigation. Though, I’m curious to hear from you what you think about the SafePal wallet and whether you’re thinking of getting one for yourself. If you are going to, I would really appreciate you using my affiliate link to do so here: https://shop.safepal.io/products/safepal-hardware-wallte-s1-bitcoin-wallet?ref=scottcunningham4
You can also learn more about SafePal on https://www.safepal.io/.
Thanks again to SafePal for the wallet and I’d love to hear from you what your thoughts are on it in the comments below and don’t forget to subscribe!
