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SafePal: New Opportunity x DeFi and Why it is the Best Wallet?

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Written by   334
1 month ago

I've been using a SafePal wallet for several months. I was a fan of Trustwallet not until SafePal came. It's quite a long time since SafePal launched and started their service in the crypto-verse, so far, I am using them well and smoothly. It is sad that I did not take the opportunity of having a $SFP token, I was a newbie back then (until now) and didn't understand how the airdrop works, it is the biggest opportunity that I let pass.

I like it because the devs are constantly improving their service. From its user-interface which is cooler than other wallets, in my eyes, it looks cool and better especially its dark theme color. Also, this wallet is user-friendly and easy to navigate. 

We all know that scammers are everywhere, especially in this world of crypto, but SafePal team are doing their best to solve this by improving its security and privacy which is their priority. In using this wallet, you need to have a lot of passwords to access mostly everything that makes it safe and secured. Of course, the devs don't guarantee your safety, the activities that you will do on their platform is not their fault. If you forgot your password and didn't list seed phrases, it's not their fault anymore. If you connect your wallet to suspicious links, it's not them, it's you! 

Disclaimer: Everything written on this blog is not financial advice, it is based on the author’s opinion and experience. Do your own research. The information and data written on this are based on today's date (October 22, 2021 PH time).

It has also their own token called $SFP, according to coingecko, $SFP token has 500 million supply and in my opinion, it is a lot fewer than others that will give a positive insight when it comes to long-term investment. Its all time low was $0.6025 last 06-26-2021 and having an all time high $4.19 which is I believe that it is the time when they launched their token. As of now, its market rank is lower and who knows that this is a hidden gem? This is an undervalued token!

Contract address: 0xd41fdb03ba84762dd66a0af1a6c8540ff1ba5df

Binance DEX integration to SafePal

In my opinion, this is one of the best features integrated by SafePal wallet. As a student, my actions in the original Binance app are very limited because my account is not verified. However, SafePal solved this issue when they launched the Binance DEX feature last July 2019. This helps me to trade without any KYC verification. 

I like how the Binance DEX was built on SafePal, since it is a DEX, this exchange is connected to your non-custodial wallet, it is the reason why you can recover your asset in Binance DEX on SafePal if you deleted and installed againd the app. 

You can trade on this, 24/7. They also introduced future trading. Future trading on Binance DEX was not implemented before, but after updating the app, I noticed that it has futures now. It also has an Earn Tab where you can put your asset into flexible and locked savings to earn a small portion of interest.

SafePal Earn: New Earning Opportunity x DeFi

SafePal recently launched their mew feature called “SafePal Earn” this feature makes it easier to stake your assets without using any third-party dApps outside the platform. It aggregates popular DeFi mining pools such as Pancakeswap and ApeSwap. Other DeFi mining pools will be added soon as their blog says. 

They offer a lot of pools that will help the users to maximize their earnings through staking. Of course, $SFP token, which is their native utility token, is the core of this feature. $SFP holders and stakers will earn higher APY compared to other pools.

As of writing, they offer 165.66% APY on their pool if you stake $SFP. They also offer different Liquidity Providers to give you much higher interest, however, keep in mind that it is risky compared to pool without pair. 

Is SafePal Earn audited?

“The smart contract of SafePal Earn has been audited by CertiK, a leading blockchain security service provider. According to the CertiK security audit report, no critical vulnerability was found.”

Sources:

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