SafePal S1 specifications
What’s in the box?
USB-A to Micro-USB cable
Three recovery sheets
Quick start guide
Safepal S1 overview
The SafePal is a relatively new entrant to the hardware wallet scene, and it’s certainly a unique one. Backed by the likes of Binance Labs, Trust Wallet, and the Litecoin Foundation, the SafePal is an affordable and portable cold storage option.
The device is reminiscent of an MP3 player. The D-pad below its color screen is used to navigate the various menus, and a camera is used to scan QR codes when signing transactions. It has no wired connection (other than that used to charge the battery and to receive updates). The SafePal is almost air-gapped – after updates, its only communication with the outside world is via the information displayed on the screen.
Since the device is almost never plugged into an internet-connected machine, many attack vectors are eliminated. This does come at the cost of usability, though, as the process of spending funds is somewhat clunky. Users pair the wallet with a smartphone app and relay information between the two via QR codes.
That said, the SafePal’s smartphone compatibility and lack of cables make it portable and convenient to use on the go. Like most (if not all) hardware wallets nowadays, the device requires that a PIN code is entered. Users can choose whether to generate a 12-word seed, or a 24-word one.
The greatest downside to the SafePal is that it feels quite fragile. But then again, it’s one of the cheapest hardware wallets available.
SafePal S1 pros and cons
Supports 1000+ assets
The device is wiped if physically tampered with.
Not completely air-gapped (needs to be plugged into computer for firmware upgrades)
Cumbersome to transact
SafePal S1 pricing
As of February 2020, the SafePal S1 is priced at $39.99.
It’s advised to always buy hardware wallets directly from the manufacturer or official resellers. Buying second-hand hardware wallets poses the risk of the private keys being compromised.
The SafePal S1 occupies a unique place in the hardware wallet lineup. It’s straightforward to operate and comes with some neat features, in spite of being one of the cheapest offerings. Understandably, it doesn’t feel as robust as the likes of a Ledger or Cobo Vault, so users should ensure they back up their seeds carefully.
Nonetheless, this is a great product for users taking the first steps in transitioning from a hot or custodial wallet. For those that don’t plan on frequently transacting, it’s a good portable solution that involves no cables.