The First Binance Approved Crypto Wallet – Watch to Earn Some BNB – Safepal S1 Wallet Review


What’s up everyone. So at this point, it 2019, hardware wallets
are a dime a dozen at this point. I’ve reviewed a whole bunch of them, the
reality is I dont get that excited for a new hardware wallet. But the guys over at safepal contacted me,
and they’re the first hardware wallet that actually had Binance invest with them and
they’ve partnered with them. And they’ve brought some really cool features
to the table. I was skeptical when I first looked at the
device, ive gotten in I’ve used it now. And I’m actually really excited about this
review. I think this is a really cool device. And yeah, were going to dive in and check
out the safepal hardware wallet. Were going to do a little unboxing for you
guys, show you the set up and talk about some of the basic functionality and kind of what
I think of this wallet. Alright so we’ve got the safepal here. Pop it open, very nice little packaging. I have to say, I don’t love that its a gloss
device, it gets fingerprints all over it, but that’s not what this is all about, its
a hardware wallet. So inside the box we’ve got the device itself
of course, your usb cable, and we’ve got; I love that they actually did include multiple,
you’ve got three separate mnemonic cards here. These are obviously for writing down your
private keys, keeping them safe. Little instruction booklet, nice little safepal
stickers, and obviously they know that it’s a fingerprint magnet because they gave you
a little cleaning cloth there. So, that’s all we’ve got in there so lets
take this, hook it up, get that initial firmware update that you need to do with any hardware
wallet and check out the device. Okay, before i hop over and cgo into the firmware
update on my pc, i just want to talk a little bit about the features of the device. As of right now the coin support is far from
limited but it is limited in terms of what Id like to see. It only currently supports bitcoin, binance
coin, and then ethereum and any erc20 tokens. That being said, they have a seriously aggressive
roadmap, and currently i know they’re looking at adding litecoin and ripple. But they have a long hotlist of coins that
they’re looking at adding to the device. Now one of my favorite things about this,
its a very kind of little simple thing. But it actually has a full color high resolution
screen. Which is a little thing but it really does
give it a premium feel. It feels like a very nice device. Its well constructed, it is battery powered
which I absolutely love. I’m tired of being tethered by usb to my hardware
wallets. It has the camera within, four point touch
pad. You know, its very simple to use. And it’s just a very nice device, and really
the pairing with binance is absolutely huge. Were going to get to that kind of towards
the end of the video, but with that partnership comes something i’ve never seen before. You can actually trade through the binance
dex with your device and your phone. Absolute game changer in my opinion. So we’ll check that out in a second, but
I just wanted to give you guys kind of a little bit of basic info on the device itself, it
really is just an absolutely great looking device. If they continue to add support for these
different coins that they’re talking about i think its going to do nothing but improve
over time. So, anywho, like i said lets pop over there,
im going to show you how to do that initial set up, how to do your first update, because
thats a key part of setting up your hardware wallet. And actually one thing i will say, they’re
update process is really one of the simplest ive seen to date. You know, like we had the ellipal in here
relatively recently. And that thing you had to load it onto an
sd card, bring the firmware over, update it, pull the card out for security. Much much simpler. So lets swing over to the pc, im going to
give you a screenshare on how to get this going and then were going to dive into the
device and show you how to get some money moving. Alright, so once you’ve got it plugged in
your just going to have your kind of basic set up screen here. Obviously were going with english. Just kind of some little basics on how the
buttons work. And it’s going to ask you if you’re ready
to begin. Lets go ahead and here its going to say create
or recover, obviously were creating a new wallet. And here its just going to ask you, you know,
what is a mnemonic? Most of you that are in the crypto space will
already know this. Basically it’s just a set of words that represent
your private key. So were going to go and hit create now. Now, when Im setting this up for my personal
use I would be doing a 24 word mnemonic, I just, that’s my choice. But for this video were actually going to
do a 12 word. And when you click this, it will generate
your mnemonic phrase. And there’s the first four words, you’ve got
the next four, and a little treat for you guys. I’m going to blot out this last word on here,
and at some point through the rest of the video i’m going to flash that word on screen. And my little gift to you guys is, I’m going
to be transferring a binance coin over onto the device for the sake of showing a transfer. But I’m going to leave it there; and the first
one of you lucky crypto people that can get in there and import the seed and move it out
of that wallet congratulations, you’re going to get a free binance coin. So keep an eye out for that. And if you’re the first lucky one, hey, you
get some free coins. So anyways were going to hit okay, alright
so it’s going to ask us to confirm the mnemonic phrase so were just going to run through this
real quick and you’re just going to enter back in the phrase as it was given to you. Alright, now once you’ve got this set up itsx
going to ask you to create a pin. And for this one obviously it’s a video so
we’re going basic. 1, 2, 3, 4, 5, 6. And actually, that’s an interesting one. It actually has protections against simple
codes, that’s rather interesting so were going to go with something a little different. Alright, we’ve got our pin code set and it’s
going to take a second here to just configure itself. And there we go, wallet is created. And let’s create a name for it. This one, once again just a video so were
going to go very simple; aaa. Alright, and there we go. Confirm, and this is one of the great things
I just absolutely love about what they did with this. It’s going to give you a QR code. If you have a qr code scanner on your phone,
you can simply just scan that code and it’s going to automatically download the safepal
wallet app for you. So, I’ve already done that, but were going
to do before getting into the wallet itself on the phone; the first thing we gotta do
as with any hardware wallet is go over to our settings and we need to update the device. So in order to do this were going to spin
around and look at my screen capture here. And were going to be going to the upgrade
page. And your going to download this file, upgrade.bin. Were going to save that. And were up to the upgrade screen, as you
can see here, it’s just going to show up as wallet. And the upgrade process is so simple. You just drag the upgrade.bin file over into
the wallet and once it’s in there your going to hit the upgrade button and there we go. Just hit upgrade, and the process begins. Alright, so we’ve got the device setup. Once you do the upgrade you are going to have
to “recover” the wallet. And I just kind of montaged that together
for you guys. One thing that I do think is great is when
you’re reentering that seed phrase it actually has kind of a quick complete with the different
words on there, so that makes the process much simpler and much easier. So, anywho if you have fingerprint scanning
on your device it will actually use that for the safepal wallet which i think is a great
feature. So what we’re going to do is we’re going
to add a wallet. And we need to put in our security password
here. Alright, and once you get your password, you’re
going to take the device itself. And as you can see ive got it disconnected
from the USB now, absolutely love that. And were going to go to scan. Got your nice little camera there, find my
angle; it’s going to be out of screen there but when you grab it its going to say confirm
to pair. We’ll hit okay, enter that pin code that
we set up and this is going to scramble each time that you do it, so obviously it’s harder
to track. Pretty usual feature of most hardware wallets
these days. So were going to enter in our pin, and we
hit okay. Now this is a very cool little feature. So instead of doing a singular QR code to
scan in; it’s actually going to give you a dynamic code on the device itself. And were going to bring the phone over and
were going to scan that dynamic code, and it actually runs through 7 separate QR’s. And there we go, we officially have the wallet
linked and we have it in there. Now in order to add new assets from this screen
all you have to do is hit the plus button. And any of ERC20 tokens are going to show
up in here. These are ones ive added on a prior occasion. But if you don’t see one that you’re looking
for and you know its an ERC20 you can go up here, hit search, and you know, I mean it
has a quick autocomplete, and there you go. You’ve got your full list of ERC20s. But for this one were just going to stick
with the binance coin. So were going to click that, and we want to
receive some coins. So, there is our QR code. And of course you can also get a saved QR. Going to have to give it access to allow it
to save it. And you can also see that down here it gives
you the physical write out for the QR code as well. So what Im going to do real quick, is im going
to break out from here; im going to get on binance and send that coin over, and we’ll
continue from there. Alright, so we’ve got our BNB transferred
over, and as you can see i’ve got a little bit of LOKI in there as well, so what we’re
going to do is the absolute best feature in my opinion, of the safepal wallet and app. Were going to go over and hit trade. As you can see, this takes us right into the
binance dex. I mean this is just too cool. So what we’re going to do is were going to
go, and just say, were going to do a twenty five percent purchase. That’s going to give us 24 LOKI, and were
going to hit submit. And we have to sign these transactions, so
what we’re going to do here is were going to scan. And were going to scan the phone there, as
you can see. We scan it, its showing our buy order there,
were going to hit okay, and then this is going to give us a dynamic QR code after we set
in our password, so put in that pin. Signing the TX, and this is going to now put
out that dynamic code and we do our swap. Were going to take the phone out now, hit
next. And lets see, there we go! Transfer is signed and ready to broadcast. So were going to hit confirm. This one I believe I did right there at market
price, yup. So no open orders, go to order history, bam. Right there, it’s already been executed, it
is in our wallet, let’s go back over here to our assets. We’ll reload, and there we go, we’ve got
24 more LOKI sitting in there. I just really think this is an absolutely
amazing feature, it’s really something different, something very cool i haven’t seen with other
devices. It’s really kind of true to that core crypto
value. So anyways I hope you guys found this kind
of insightful, were going to back out of here and kind of close out. I might leave the loki, I might turn it back
into BNB. But either way, remember if you find that
last word, you have some free coins coming to you. Alright guys, so I hope you enjoyed kind of
getting a first glance, and hopefully just a basic little tutorial to help you get started
on the safepal wallet. And don’t forget, if you skipped around the
video you might have missed it, go back through, watch the video all the way through and find
that twelfth seed word and you’ve got yourself a free binance coin. You know, this is really, its another hardware
wallet but that dex integration is just absolutely next level. I think it’s such a crypto savvy idea, you
know, the idea of decentralization I think has gotten a little bit lost as we move further
and further into the space and I love seeing a hardware wallet that is actually integrated
directly into a dex. Now, truthfully to stay completely anonymous
while doing that i would say you have to use a vpn on the device your accessing with it,
but that’s neither here nor there, the technology is there and it’s absolutely wild. I love this device, you know, I think that
with the current coin support there are other wallets out there that cover more bases. But if they keep with that roll out schedule,
this is going to be sitting at the top of my stack in terms of my hardware wallets that
I enjoy. So, anywho, if you guys have any questions
about usability, support, you know, if you’re confused about anything with the tutorial
or set up, drop me a comment below, ill be glad to get back to you and help you get your
wallet set up. But anywho, hope you enjoyed this, and have
a cryptotastic day.

6 thoughts on “The First Binance Approved Crypto Wallet – Watch to Earn Some BNB – Safepal S1 Wallet Review”

  1. Thanks for helping to walk through the setup and DEX trade in our wallet, Austin!

    Apart from the amazing DEX feature, SafePal offer world-leading security mechanism to provide the most secure and user-friendly HW wallet to crypto masses:

    Independent security element + 100% offline + True random number generator + Self-destroy mechanism, etc.

    More details kindly check our website and Twitter and welcome to ask us any question in our Telegram group:

    Website: https://safepal.io

    Twitter: https://twitter.com/iSafePal

    Telegram: https://t.me/SafePalwallet

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