Source: CoinMarketCap

Crypto has been one such industry that has managed to make its place and mark its presence globally and has been more than successful in luring in potential investors from all across the globe. Not just that, the crypto world has had a surge in its overall growth and popularity recently, thus helping it to reach onto greater heights!

Having said that, I believe, a majority of you are already familiar with the basics of the industry but, if for some reason that is still not the case, let me help you with that first.

Crypto is nothing but a blockchain-based platform that is decentralized to its very core. Being decentralized, the industry becomes more than capable of stepping outside the control and jurisdiction of central authorities and can work freely without any unnecessary government interference as well.

This digital asset of yours can also be made use of for a variety of purposes including the purchase and sale of goods and services as well as for the purpose of trade and exchange over cryptocurrency exchanges available online.

Since the industry has come so far, compared to when it all first started, unlike its initial phase, there are pools of currencies available today for you to choose from, with newer ones coming in with each passing day and tons of new investors joining in every hour.

Speaking of a lot of currencies available today in the marketplace, some of the most popular ones worth investing in includes Ethereum, Binance Coin, PancakeSwap, Polkadot, Bitcoin, EverGrow Coin, Cardano, Baby Doge as well as Dogecoin to name just a few of course.

Source: Twitter

Also, it is worth noting that, some of the major contributing factors for this huge success of the industry include its ease of use, convince it offers, portability, intuitive nature, high-profit margins, negligible response time, real-time updates as well as the volatility of course.

Being volatile, it is important for you to be aware of the fact that, it is not always possible to predict the price changes and act accordingly as the price fluctuations in the crypto marketplace are almost immediate, thus leaving no time to plan. Therefore, whenever dealing in online currencies, keep in mind that, if the industry is providing you with an opportunity to earn huge profits and make quick money, if not done right, you could also end up having significantly huge losses as well.

Not just that, as per the chatter amongst some of the leading experts on the field, it has come to our notice that, crypto is rapidly progressing towards completely revolutionizing the global payment system and from where I stand, it looks like it has already started to do so as many merchants and businesses have started accepting crypto as an official mode of payment from their customers.

Now that you have a brief backstory about the crypto world, you will be able to have a much better understanding of what we have with us today, SafePal. To know more, I suggest you read further!

Everything to know about SafePal (SFP)

Source: Moralis Academy

SafePal or as commonly referred to as SFP is nothing but a cryptocurrency wallet that was launched about four years ago, back in 2018 in order to help users protect as well as grow their virtual assets. Not just that, SafePal is a platform that is known to provide software and hardware wallets, which are all made and paired with the help of SafePal application and was the very first hardware wallet invested in and back by the popularly known Binance Smart Chain.

As mentioned, SafePal wallet is said to support several popular cryptocurrency-based assets apart from popular tokens on Binance Smart Chain (BSC), Ethereum as well as TRON blockchains. Also, you should know that, users on the platform can easily store, swap, manage, grow as well as trade their portfolios without having to compromise on asset security, as per the SafePal’s team.

Before moving any further, it is probably worth noting that, SafePal was founded by a team of cryptocurrency enthusiasts which was led by Veronica Wong back in 2018, developed in order to provide a reasonably affordable hardware wallet for cryptocurrency users globally. In addition to this, SafePal was incubated by Binance in December that year, thus receiving funds from the said exchange to foster its so-called development.

Source: SafePal

In May 2019 the platform managed to launch its very first project, the hardware wallet known as SafePal S1. Also, SFP is said to be the native utility token of the SafePal platform, which as a matter of fact, can be used for a variety of purposes on the platform itself like allowing holders to create as well as vote on new features including adding new blockchains on SafePal products. Know that, since its launch, SafePal has been able to grow exponentially and has over 80,000 users in about 87 countries worldwide.

Basically, SafePal is a crypto wallet that is known to aim at providing a rather secure and user-friendly cryptocurrency management platform for the masses. Furthermore, SafePal not only supports 23 blockchains, 15 languages, more than 10,000 tokens as well as NFT (Non-fungible token) standards but is also integrated with Binance Spot Trading, Binance DEX (decentralized exchange) as well as all of the decentralized applications on the BSC, Tron, Ethereum and Polygon networks.

For some of you wondering as to what is it that makes the SafePal unique? Allow me a chance to explain. As mentioned, SafePal is known to focus on affordable hardware wallets and secure software wallets for its users, while supporting various cryptocurrencies like BNB, Bitcoin as well as Ethereum for that matter.

Source: SafePal S1 Hardware Wallet

Moreover, the SFP token talked about earlier can also be used to offer discounts for users as well as incentivize SafePal users and more. On a similar note, SFP is a BEP-20 token that can easily be transferred to any and all wallets, provided that they support the Binance Smart Chain. Also, it can be exchanged with other assets as well and can serve as a means of payment for several services.

Speaking of the products and services that SafePal offers, some of the most prominent ones include SafePal S1 Hardware wallet, SafePal Cypher, SafePal Software wallet as well as the SafePal app. For you to have a much better clarification, let’s have a look at these in brief.

To begin with, SafePal S1 Hardware wallet is a hundred percent offline as well as a decentralized hardware wallet that is known to support 20 blockchains and 10,000 plus cryptocurrencies. Also, SafePal S1 is embedded with advanced security technology which includes a self-destructing mechanism, EAL5+ secure element, device authentication mechanism, etc.

Moving on to SafePal Cypher, it is a metallic seed phrase board that is said to protect your mnemonic phrase against salt, water, fire, as well as corrosion. On the other hand, SafePal Software wallet is a secure decentralized wallet, known to allow users to recover, import, and manage wallets and cryptocurrency assets on mobile devices. Lastly, the SafePal application is an app that allows users to manage the SafePal Hardware wallet as well as SafePal Software Wallet too.

Now that we have talked much about SafePal, some of you must be wondering, whether or not it is a good idea to invest in the platform? If that’s the case, then let’s find out, shall we?

Investing in SafePal (SFP)

Source: SafePal

As of today, the price of SafePal is about 0.895495 US dollars with a twenty-four-hour trading volume of 25,342,679 dollars. Not just that, in just the past twenty-four hours, the value of SafePal has been up by 5.86 percent, and with the current market cap of 96,862,758 US dollars, SFP is currently placed at #407 position as per the CoinMarketCap rankings.

Also, it is worth mentioning that, the current circulating supply of SafePal is 108,166,667 SFP coins, with a maximum lifetime supply of the token being 500,000,000 SFP coins. In just the past week alone, the price of the platform has risen by 10.09 percent.

Reading so far, you must have gotten a fair understanding of the platform and by now, you should be able to figure out on your own whether or not investing in SafePal is the right thing for you to do. Seeing what it has to offer when combined with its performance in the recent past as well as its plans for the near future, I certainly believe that SafePal can prove to be a profitable investment in the near future, which is likely to provide you with higher returns and it is a possibility that your current investment may increase in value. But again, nothing can be said or sure!

Source: BSC News

As mentioned at the very beginning, crypto is a highly volatile marketplace and is extremely uncertain. Thus, It is very important for you to understand the fact that just like any other currency in the crypto marketplace, SafePal does have its own risks as well and you should invest only if you are willing to take those risks and bear any and all losses if at all necessary.

If you are wondering, where can you buy SafePal? Let me help you with that. Currently, SafePal is available on all major crypto exchanges but, some of the popular exchanges that have SFP listed on them include Mandala Exchange, Binance, CoinTiger, KuCoin as well as ByBit to name a few.  

In conclusion, what are your thoughts on SafePal? Do let us know in the comments area below. To know more about various cryptocurrencies, do check out other articles we have on our website. Thank you for your time & if you found our content informative, do share it with your investor friends!

Also read: Quantstamp: Everything you need to know