SafePal, Backed by Binance Labs, Launches the SafePal S1 Crypto Hardware Wallet

SafePal, a firm that develops hardware wallets for cryptocurrencies, has announced the launch of their first-ever product, known as the SafePal S1.

The SafePal S1 fronts itself as an easy-to-use and affordable hardware storage solution for digital assets. The gadget is secured using an EAL5+ chip. It also has a small LCD screen that shows transaction details.

Users can interact with this wallet through Bluetooth and NFC connections. The SafePal S1 also supports QR codes. However, it doesn’t connect to the internet because of the security risks associated with such connections.

The head offices of SafePal are located in Shenzhen. The Chinese city is acknowledged worldwide as a world-class hub for the manufacture of IT hardware. The firm’s leadership consists of seasoned pros from various sectors, including fintech, software, cybersecurity, and marketing.

Ultimately, SafePal aims to promote the adoption of cryptocurrencies by providing a cheap and user-friendly storage mechanism. The wallet will become available in North America as from next month.

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