SafePal: keys, security, fees and reviews
In short
- Key control
- Non-custodial: private keys stay in the user's wallet and SafePal has no access to them.
- Fees
- Device price: S1 $49.99, X1 $69.99, S1 Pro $89.99, VAT and duty excluded (as of 31 October 2026).
- Risks and caveats
- SafePal cannot recover a lost private key or recovery phrase; the user alone is responsible for backups.
- Checked
- 31 October 2026
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Key facts
- Official site
- safepal.com
Key facts checked on 31 October 2026 against official sources.
What is SafePal
SafePal is a non-custodial crypto wallet suite made up of hardware wallets (the air-gapped S1 and S1 Pro and the Bluetooth X1), a mobile app for iOS and Android, a browser extension and a Telegram mini app. It was founded in 2018 by Veronica Wong and two co-founders and started as a hardware wallet.
Who holds the keys
| Parameter | Details |
|---|---|
| Key control | Non-custodial: private keys stay in the user's wallet and SafePal has no access to them. |
| Recovery | SafePal does not keep a backup of private keys or recovery words and cannot recover them. |
| Seed phrase | The wallet generates a set of recovery words (mnemonic) used to restore the wallet or private key on another device. |
| Air-gapped signing | The S1 line has no Bluetooth, Wi-Fi or NFC and signs transactions offline, exchanging data with the app by QR code. |
Features and supported networks
| Parameter | Details |
|---|---|
| Platforms | Mobile app for iOS and Android, browser extension for Chrome, Firefox and Edge, Telegram mini app, and S1, S1 Pro and X1 hardware wallets. |
| Supported networks | Hardware wallets support 200+ blockchains; Bitcoin, Ethereum, Solana and thousands of other assets. |
| Connectivity | S1 and S1 Pro: QR code only, no Bluetooth, Wi-Fi or NFC. X1: Bluetooth 5.0. |
| Secure element | All current hardware models use a CC EAL6+ secure element (upgraded from EAL5+ in April 2025). |
| Display | S1: 1.3-inch colour IPS screen, 320x320. X1: 1.8-inch monochrome LCD, 128x64, 12-button keypad. |
| Swaps | In-app cross-chain swaps and trading mini-programs connected to third-party services. |
| Buy / sell | Fiat on- and off-ramps and a banking gateway; bank account and card services are provided by Fiat24 under Swiss rules. |
| dApp browser | Access to decentralised apps, NFTs and DeFi from the wallet. |
Security and audits
- Hardware wallets use a Common Criteria EAL6+ secure element, upgraded from EAL5+ in April 2025; SafePal does not name the chip or publish its certificate.
- Code for key generation, signing and the app-device link was opened on GitHub from September 2023; the safepal-s1 and safepal-x1 repositories use the GPL-3.0 licence.
- SafePal says the X1 was audited by Keylabs before release; the audit report itself is not published on SafePal's site.
- Device protections include a true random number generator, tamper sensors with self-destruct, device authentication and a scrambled PIN display.
- On 16 August 2026 SafePal disclosed that an authorization flaw in its order-tracking plug-in exposed order data (name, email, address, phone, purchase details) of about 39,798 customers who ordered between 2 March 2025 and 11 April 2026; wallet keys were not involved. Cure53 later reviewed the e-commerce system.
Fees
| Parameter | Details |
|---|---|
| Device price | S1 $49.99, X1 $69.99, S1 Pro $89.99, VAT and duty excluded (as of 31 October 2026). |
| Third-party services | Swap, trading and other partner services can charge their own fees and may pay SafePal a commission. |
History
| Date | Event |
|---|---|
| 2018 | SafePal founded by Veronica Wong and two co-founders, initially as a hardware wallet maker. |
| 2019 | SafePal S1 air-gapped hardware wallet launched. |
| 13 September 2023 | X1 Bluetooth hardware wallet announced at $69.99, together with open-sourcing of key wallet code. |
| 6 April 2025 | Secure element of the whole hardware line upgraded from CC EAL5+ to CC EAL6+. |
| 16 August 2026 | SafePal disclosed unauthorized access to customer order information from its online store. |
Risks and caveats
- SafePal cannot recover a lost private key or recovery phrase; the user alone is responsible for backups.
- Store customer data was exposed in 2025-2026, so affected buyers may receive targeted phishing; SafePal says it never asks for a seed phrase or a firmware update via a link.
- Swaps, banking and card services are provided by third parties with their own fees and terms.
About the developer
- Legal entity
- SkyGenesis Holdings Limited operates the SafePal website and services.
- Founded
- 2018
- Founders
- Veronica Wong with two co-founders.
- Backers
- Backed by Binance (Binance Labs), Animoca Brands and SuperScrypt.
- Headquarters
- Remote-first company with staff on four continents.
Official links
- Website: www.safepal.com/en
- Download: www.safepal.com/en/download
- Source code: github.com/SafePalWallet
- Security: www.safepal.com/secure
- Support: safepalsupport.zendesk.com/hc/en-us
- Blog: www.safepal.com/en/blog
Questions and answers
Is SafePal self-custodial?
Yes. Private keys stay in the user's wallet; SafePal stores no backup and cannot recover a lost recovery phrase.
Is SafePal open source?
Partly. Key-generation, signing and app-device code is on GitHub under GPL-3.0 (safepal-s1, safepal-x1 repositories).
Is SafePal audited or certified?
Its hardware uses a CC EAL6+ secure element, and SafePal says Keylabs audited the X1 before release. In 2026 a store bug exposed order data of about 39,798 customers, not wallet keys.
How much does a SafePal hardware wallet cost?
S1 $49.99, X1 $69.99 and S1 Pro $89.99 before VAT and duty (as of 31 October 2026); the app and extension are free to download.
Who makes SafePal?
SkyGenesis Holdings Limited operates SafePal, which was founded in 2018 by Veronica Wong and two co-founders and is backed by Binance Labs and Animoca Brands.
Sources
- SafePal — Home
- SafePal — About
- SafePal — Security
- SafePal — S1 store page
- SafePal — X1 store page
- SafePal — CEO's letter on the X1 and transition to open source
- SafePal — Upgrade of the hardware line: EAL certifications
- SafePal — Unauthorized access to a subset of customer order information
- SafePal — Terms of Service
- SafePal — Scam protection
- GitHub — SafePalWallet/safepal-x1 LICENSE
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