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.