Key Takeaway
For a relatively inexpensive device, Safepal S1 is surprisingly user friendly and simple. Although build quality is truly lacking, that’s made up for in an amazing app with some of the best crypto token support on the market.
- Unboxing
- Safepal S1 Lacks Some Quality And Design
- Your Average Hardware Wallet Setup On Safepal S1
- Safepal Wallet App: Excellent Design Overall
- Safepal S1 Has Massive Token Support
- Safepal Security Record: A Mixed Bag
- Safepal S1 Reputation & Reviews
- Safepal S1 Vs. Other Crypto Wallets
- Final Thoughts: Safepal S1 Gets The Job Done
What‘s Inside The Box?
Safepal S1 Lacks Some Quality And Design
Safepal S1 has a compact, credit card-sized design, making it ideal to hide away or slip in a pocket.
It’s made of ABS and PVC plastic, giving it shock and heat resistance. This means the device is extremely lightweight, weighing 38 grams.
But build quality does feel a bit on the cheaper side, especially where the panels are molded together.
The 1.3-inch IPS color screen houses 320×320 resolution, which is small but functional.
Also on the front is a D-pad for navigation, a nice throwback to classic handheld gaming devices.
On the back is a built-in camera for high-speed QR code scanning.
Before getting worried, this is the whole purpose of the device. From this camera, we will scan QR codes to verify transactions.
The wallet is 100% ‘air-gapped’, meaning it has no Bluetooth, WiFi, or NFC, and is much harder to hack remotely.
Battery-wise, it’s got a 400mAh battery, which lasts up to 20 days with 10 minutes of daily use.
Your Average Hardware Wallet Setup On Safepal S1
To begin, turn on the device and choose a language.
Verify the device with the 6 digit code displayed. And then scan the QR with the S1.
Click ‘create a wallet’. Always choose 24 word recovery for extra protection.
The seed phrase is now generated.
Grab one of the backup cards and write down all 24 words shown
Once written down, confirm all 24 words on the device.
Next, set the PIN.
Lastly, name the wallet, confirm it and we’re good to get started!
Download the SafePal app.
On the app, choose ‘connect hardware wallet’. Create a 6 digit pin there as well.
Then select the S1 and pair it using the built in camera scanner.
The last thing to discuss is upload the firmware.
This was quite difficult and hands on. Most wallets let users update in app, by with Safepal we need to download the file, plug it in, and manually drag it into the folder on PC.
Quite user-unfriendly in 2025.
Safepal Wallet App: Excellent Design Overall
Safepal app is a formidable crypto wallet experience.
View balances, check exchange rates, and manage crypto assets.
We can also send, receive, swap, bridge, buy and sell crypto.
Earn yield through staking, aka locking tokens for a fixed time.
Sending crypto is super simple. Just scan the QR code, enter the amount, and select the network fee. Then confirm on both devices.
This companion app is the first I’ve seen that included news stories. It’s even possible to search news for each chain specifically, a cool extra feature.
It also supports DeFi applications and third-party dApps, some of which are shown here in the explore tab.
Another important note is that there’s unlimited storage for cryptocurrencies, unlike other hardware wallets that have a storage limit.
Safepal is the only hardware wallet brand I know of with their own token, launched in 2021 on BNB chain through Binance launchpad.
The brand lists $SFP tokens use cases on their website, such as staking and gas fee reductions.
A bit odd, but hey, its crypto, right?
Lastly, there is a browser extension for the app on desktop which is similar to Metamask and Phantom wallet.
Safepal S1 Has Massive Token Support
Safepal supports 200 plus blockchains, with over 30,000 tokens.
As for NFT management, Ethereum, Ordinals, TON, Solana, SUI and many more are currently available.
Safepal Security Record: A Mixed Bag
Here’s how the Safepal S1 works.
Instead of wallets such as Trezor that use microcontrollers, SafePal runs a different dual chip setup.
The system on a chip, or SoC runs Linux to handle camera input, QR code scanning, UI, and general system functions.
The second chip is a CC EAL5+ secure element, which stores private keys, signs transactions, and ensures cryptographic security safely away from the SoC.
One standout security feature is the Anti-Tampering Self-Destruct Mechanism, wiping the device clean if opened.
There’s also Firmware Anti-Tampering Protection which ensures downloads are authentic.
As for audits, this was done by Keylabs (not public) and Kraken Security Labs.
To be fully transparent, the 3rd party report in 2021 from Kraken Security Labs identified potential vulnerabilities in the SafePal S1 hardware wallet, highlighting several concerns.
Read more on the outcomes in Kraken’s article here and Safepal’s response here to come to your own conclusions.
Based on an article here from Sept 2023, the Safepal mobile wallet, including the S1 QR scanning mechanisms, were made open source.
As for the hardware of the S1, that information isn’t too clear. But to use the EAL 5+ secure element chip, which the brand is unnamed, Safepal must sign an NDA agreement making it closed source.
Safepal S1 Reputation & Reviews
Safepal was founded in 2018 in China, but is now based in Singapore.
Their first hardware wallet, the S1, was launched in 2019. Soon after came the S1 Pro and X1 launches.
In terms of reviews, the wallet brand holds a 3.9 out of 5 with 348 reviews on trustpilot.com.
As for the Safepal S1 device specifically, the wallet scored a 4.0 out of 5 on Amazon.com, 8.6 out of 10 on hardware-wallets.net and a 8.2 out of 10 on 99Bitcoins.com.
Here’s what users are saying about the Safepal S1:
When trying to find more negative reviews on Amazon, some of them seem to have been removed.
To get a true idea of Safepal’s reputation, consult their socials, metrics and read what other users are saying.
And if support is needed, go to safepal.com, click ‘about’, then ‘contact us’.
This page can also be reached in the Safepal app in ‘settings’, help center, where there’s also a chatbot who isn’t very friendly!
Safepal S1 Vs. Other Crypto Wallets
How does the Safepal S1 ($49) differ from other popular hardware wallets?
Ledger
- Ledger S Plus ($59): USB only, 2 buttons, similar experience without QR codes, better build quality
- Ledger X ($149): battery powered, bluetooth or USB-C connection, better build quality
- Ledger Flex ($249): bluetooth or USB C, larger screen, additonal features, better build quality
- Ledger Stax ($399): essentially same as Flex, but with a curved screen and label binding, better build quality
Trezor
- Trezor Safe 3 ($79): USB-C only, 2 buttons, better build quality
Tangem
- Tangem card ($50): NFC, less security, more portable
- Tangem ring ($160): NFC, less security, more portable
OneKey
- OneKey Classic 1S ($99): 4 buttons, bluetooth or USB C, similar experience without QR codes, similar build quality
Coolwallet
- Coolwallet Go ($69): NFC, less security, more portable
- Coolwallet Pro ($149): battery, small screen, clunky, slow, more portable
Cypherock
- Cypherock X1 ($149): USB-C only, joystick, 4 card backups, worse app, similar build quality
Secux
- Secux Neo X ($179): bulky, similar build quality
Final Thoughts: Safepal S1 Gets The Job Done
This wallet surprised me a bit.
At $50, users get essentially all the necessary features and security of a hardware wallet in a decently minialisitic design.
There’s also tons of token and NFT support, as well as a friendly app and simple process using QR codes.
Now there are few of the drawback considerations:
1. The difficulty to upgrade the firmware.
2. Although good for the price, experienced crypto users may want a product that feels more durable and time resistant.
3. Not everything is open sourced, and with the Kraken team’s comments, we must be aware that no product is 100% safe.
4. No desktop app.
So should you buy the Safepal S1?
It’s a decent option for either a first hardware wallet or an additional wallet to diversify some assets.
But I’d personally go with either the Ledger S Plus, which just dropped its retail price to $59, the Tangem wallet around $55 while on holiday discount, or even the Safepal X1 which has a smooth experience.
If you want to grab one, check the link below.
Thanks for reading and catch ya in the next review!
What that difference between Safepal S1 and S1 Pro?
The Safepal S1 is made of plastic, while the S1 Pro is made of aluminum with a tempered glass screen.
The S1 pro also has the camera in the middle of the device and has a slightly more powerful battery.
Is Safepal S1 open sourced?
Yes and no. Although the app and software is open sourced, the S1 device itself isn’t, including the secure element chip.
But if you want more auditing info, make sure to read through Kraken’s security findings in the article above.
Is Safepal S1 compatible on all devices?
Safepal S1 works on iOS, Android, Windows and MacOS. But be aware there’s no desktop app. Only a mobile hot wallet browser extension is available.
What if I lose my Safepal S1 device?
Your seed phrase is written down on the paper sheets or with a metal backup. Keep this safe, as it’s the key to your crypto.
What is the expiry or shelf life of the Safepal S1?
It’s generally standard for screened cold wallet devices to last between 3-5 years. But with the S1’s build quality, maybe even less longevity.
Is Safepal S1 safe and secure?
Yes, but be cautious. The QR code system is claimed to be ‘safer’ since it doesn’t connect to the internet, but you still need to download their firmware online which holds inherent risks.
Find the hardware wallet that works best for you, or try out multiple brands if you can.