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What Is SafePal?

Dec 27, 2022
4 min read

This blog post will cover:

  • About SafePal (SFP)
  • Where did SafePal (SFP) come from?
  • What are the advantages of SafePal (SFP)?
  • What are the disadvantages of SafePal (SFP)?
  • How to buy SafePal (SFP) on SimpleSwap?

About SafePal (SFP)

SafePal is a company that produces hardware wallets. With the help of crypto wallets, users can store their cryptocurrency safely and comfortably. Such a wallet should help customers not only protect but also multiply their assets. With the SafePal app, users can easily store, manage, exchange, and trade cryptocurrencies. At this stage, it supports more than 20 blockchains.SFP is a platform token of the BEP-20 standard. It can be used to:

  • get a discount on services and products developed by the platform;
  • get a special coupon and additional passive income from SafePal Earn and Lending programs;
  • get benefits such as distribution of tokens from partners, limited NFT or staking rewards;
  • be able to vote for the implementation of new functions;
  • participate in exclusive giveaways, etc.

Where did SafePal (SFP) come from?

SafePal was created in 2018. It was designed in order to simplify, secure and make storage of cryptocurrency available for every user. The development team has over 10 years of experience not only in hardware and software but also in design and cybersecurity. It is located mainly in Asia, moreover, it has close ties with the Chinese cryptocurrency center Shenzhen.

What are the advantages of SafePal (SFP)?

  • Self-destruct function
    As soon as the user or someone else (for example, a cracker) wants to open a hardware wallet, all data is instantly destroyed. Thanks to this, personal information about the user's keys will not fall into the hands of a third party.
  • Lower price on the market
    The SafePal wallet is currently priced lower than some other wallets with similar technology. At the same time, it does not require an additional USB, Bluetooth, or WiFi connection, it works autonomously.
  • A lot of cryptocurrencies
    This hardware wallet supports over 20 blockchains, which makes up a big list of coins and tokens, as well as expanding its use among customers.

What are the disadvantages of SafePal (SFP)?

  • Strong competitors
    Do not forget that this sea already is full of large sharks that are strong enough and already have the significant market power to compete with SafePal.
  • A complex process of sending transactions
    In order to carry out any transaction, the user has to do a lot of different actions using the application and the wallet.
  • Incomplete autonomy
    In order to update the firmware, there is a necessity of connecting to a PC.

How to buy SafePal (SFP) on SimpleSwap?

If you are interested in the SFP cryptocurrency and want to add it to your crypto wallet, you are welcome to use SimpleSwap to make a purchase. To get SFP tokens, you can follow the instructions below:

  • For example, you want to swap BTC for SFP. Select the currency you want to exchange (e.g. BTC) in the first drop-downlist. Then enter the amount you want to swap.
  • Select SFP in the second drop-down list. You’ll see the estimated amount that you’ll get after the exchange.
  • Click the Exchange button.
  • Enter the Recipient's Address. SFP will be sent. Be careful and make sure you use the correct address.
  • Create the exchange.
  • You will see the Bitcoin deposit address. You need to transfer the necessary amount of BTC to this address to start the BTC to SFP exchange.

SimpleSwap reminds you that this article is provided for informational purposes only and does not provide investment advice. All purchases and cryptocurrency investments are your own responsibility.

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