SafePal Product Review and Claiming SFP
It’s my first hardware wallet for crypto.
Although there are several well-known hardware wallets such as Imkey, Coolwallet and Ledger, eventually I chose SafePal for the purpose of joining SFP airdrop Round 2.
It’s not a problem when paired SafePal app with its hardware wallet, but when claiming SFP it alerted that BNB(BEP20) need to be added. As a result I changed the wallet address that holding BNB(BEP20) token, but the same message still alerted. Since there are several type of assets listed in SafePal hardware wallet, including Bitcoin, Ethereum and BNB. The solution is probably to update SafePal firmware. Yes, it’s right and I successfully claimed SFP for this task.
SafePal is cool to some extent. After connecting the wallet address with this app, it supports token swap within SafePal. In addition, users can switch to Binance exchange within this app, which means there is no need for KYC as we use Binance exchange via SafePal.
I remembered that swap fee is 0.3%, same as Uniswap. It might be a little strange for people who like using DEX coming back to CEX. When trying some functions of SafePal, I found plenty of BEP20 tokens. These tokens are created running on Binance smart chain instead of Ethereum blockchain. If I hold BEP20 tokens and want to sell them, the best way is to use SafePal or Binance exchange insted of going to the major DEX such as Uniswap. This is its own ecosystem and looks like keeping developing.