SafePal S1 review
- Supported assets
- 30,000
- Price (USD)
- $49.99
- Wallet type
- Hardware wallet
Our verdict
This Binance-backed hardware wallet will appeal to crypto investors on a budget – but it only integrates with 1 software wallet.
The SafePal S1 is a budget-friendly crypto hardware wallet that enables you to sign the crypto transactions you make in a more secure manner.
The SafePal S1 works with the companion SafePal Wallet software. Together they allow you to manage + crypto assets and engage with decentralised apps (dapps), to name just 2 of its notable features. You can download either the mobile app or browser extension version of the wallet for free.
The SafePal S1 adds a layer of security to the SafePal Wallet. It's a unique hardware wallet in that it allows you to sign transactions in a 100% air-gapped manner and it includes a self-destruct feature that protects the information on your device from viruses or malware attacks.
However, it's important to keep in mind that the SafePal S1 doesn't integrate with software wallets other than the SafePal Wallet, while competitor hardware wallets can sync with a variety of third-party software wallets.
Pros
-
One of the most affordably priced hardware wallets on the market at US$49.99
-
Supports 15 languages, 54 blockchains and 30,000+ crypto assets
-
CC EAL 5+ security certification (highest level of security against penetration tests)
-
100% offline, air-gapped signing mechanism (fully cold storage)
-
Self-destruct mechanism helps to prevent against malware attack
Cons
-
The SafePal S1 doesn't integrate with software wallets other than SafePal
-
The SafePal mobile wallet doesn't support the Ripple (XRP) or Stellar Lumen (XLM) blockchains
What's in the box?
The following items come in the box for the SafePal S1:
- SafePal S1 hardware wallet
- Cleaning cloth
- 2 stickers
- USB-C charging cable
- Mnemonic phrase card (3)
- User manual
- Download app card
⚠️ Must read
Before using your SafePal S1, carefully check the shrink wrap and box for any evidence of tampering.
If someone has accessed your device, it may be vulnerable to hacking and theft of funds.
Contact SafePal customer support if you have any concerns about the integrity of your device.
SafePal S1 price
At US$49.99, the SafePal S1 is one of the most affordable crypto hardware wallets on the market.
2 comparable devices – the Ledger Nano S Plus and the Trezor Model One – retail for US$79 and US$59 respectively.
Where to buy the SafePal S1 in Australia
Purchase the SafePal S1 directly from SafePal's website – and not from a third party – to reduce the chances of someone tampering with your device before it reaches you.
SafePal S1 features
The SafePal S1’s physical features include a full-colour screen, a D-pad for scrolling and a built-in camera for high-speed QR code scanning for signing transactions.
The SafePal S1 enables you to securely sign the transactions you make with the SafePal Wallet, which has a number of notable features related to managing your crypto.
Manage 30,000+ crypto coins and tokens as well as NFTs
The SafePal Wallet supports over 30,000 crypto assets.
The wallet supports 54 blockchains as well as thousands of ERC-20 and BEP-20 tokens.
You can also manage NFTs on a number of blockchains with the SafePal Wallet.
Built-in decentralised exchange (DEX) and Binance spot trading
You don’t have to send your assets from your SafePal wallet to a centralised exchange (e.g. Coinbase, Gemini) to trade them.
You can trade within the SafePal Wallet using either the Binance DEX or the Binance spot trading platform.
Access to dapps
You can connect to dapps on a number of blockchains including Ethereum, BNB Chain, Solana and Polygon within the SafePal Wallet.
These dapps include Aave, Compound, Uniswap and Curve.
SafePal S1-supported coins and NFTs
The SafePal S1 supports over 30,000 coins and tokens.
The device also supports NFTs on Ethereum, Solana, BNB Chain, Polygon and other blockchains.
Is SafePal safe?
When you use the SafePal software wallet on its own, you are more vulnerable to hacks than when you use it in conjunction with the SafePal S1.
The SafePal S1 offers the following security features:
100% air-gapped transactions
You sign transactions with the SafePal S1 by using the device’s built-in camera to scan a QR code in the SafePal Wallet before inputting your PIN.
Signing your transactions using your SafePal S1 doesn’t require a Bluetooth, Wi-Fi, NFC or USB connection.
CC EAL 5+ certification
The SafePal S1 uses a secure element chip – the same chip used to protect information on passports and credit cards – to protect the private keys to your digital assets.
Because of the level of protection that secure element chips provide, the SafePal S1 received CC EAL 5+ security rating, which is the highest level of protection against penetration tests.
Self-destruct mechanism
If the SafePal S1 detects either a virus or malware, the device automatically self-destructs.
Because of this, it’s very important to keep your recovery seed phrase in a safe place. You’ll need it to recover your assets on a new SafePal S1 if your current device self-destructs.
SafePal vs Ledger
SafePal and Ledger offer a comparable amount of security:
- Both devices are protected by secure element chips
- Both devices have a CC EAL 5+ security rating
However, only the SafePal S1 has a self-destruct mechanism that protects the data that the device stores against viruses or malware attacks.
The native software for both SafePal and Ledger brands – SafePal Wallet and Ledger Live – both offer a number of features, but there are some differences between what the software for the 2 brands offers.
| SafePal Wallet | Ledger Live | |
|---|---|---|
| Number of assets supported | 30,000+ | 5,500+ |
| In-app support for NFTs | Ethereum, BNB Chain, Polygon, Near, Solana and more | Ethereum and Polygon |
| Built-in spot trading via a CEX | ✅ | ❌ |
Lastly, you can use a Ledger device in conjunction with a variety of third-party software wallets including MetaMask or MyEtherWallet, whereas you can only use a SafePal S1 with the SafePal Wallet.
SafePal S1 vs Ledger Nano S Plus specs
| SafePal S1 | Ledger Nano S Plus | |
|---|---|---|
 Finder rating
★★★★★ |  Finder rating
★★★★★ | |
| Dimensions | 86 x 54 x 06mm | 62.39 x 17.40 x 8.24mm |
| Weight | 125g | 21g |
| Screen size | 1.3in IPS | 128 x 64px |
| Built-in camera | ✅ | ❌ |
| Coin support | Over 30,000 | Over 5,500 |
| Apps that can run simultaneously | Unlimited | Up to 100 |
| Storage capacity | Unlimited | 1.5MB |
| Bluetooth | ❌ | ❌ |
| Battery life | 400mAh — 20 days if used 10 min. per day | No battery |
| Connection type | USB-C to microUSB (for charging only) | USB-A to USB-C |
| Native NFT support | ✅ | ✅ |
| Security rating | CC EAL 5+ | CC EAL 5+ |
| Mobile phone compatibility | Android, iOS | Android |
| Supported desktop OS | N/A | Windows macOS Linux |
| Supported browsers for browser extension wallet | Chrome, Firefox, Microsoft Edge | N/A – but can be paired with third-party wallets like MetaMask |
| Price | US$49.99 | US$79 |
Hardware wallet ratings methodology
★★★★★ – Excellent
★★★★★ – Good
★★★★★ – Average
★★★★★ – Subpar
★★★★★ – Poor
We rate cryptocurrency hardware wallets by scoring each wallet out of 10 for 3 components: security, functionality and cost. Each component is weighted based on importance, as follows:
- Security: 50%
- Functionality: 40%
- Cost: 10%
These scores are aggregated and visualised as a total score out of 5 stars.
Read the full methodology on how we rate cryptocurrency hardware wallets.
Frequently asked questions
- Discover all the SafePal supported assets, SafePal
- The SafePal difference: Now available on Chrome: Introducing SafePal browser extension wallet, SafePal
- SafePal S1 hardware wallet, SafePal
- Binance makes moves in hardware wallet industry with new investment, CoinDesk
- SafePal supports Solana, Polygon NFTs, BSC News
- Experience the convenience of SafePal's integration into your Binance app, Binance
- You can manage over 5,500 coins and tokens on Ledger Live, Ledger
- SafePal, Golden
Your reviews
Frank Finder
Senior analyst
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