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SafePal review

Updated September 28, 2026 · HodlCue Editorial Team · Facts checked September 26, 2026

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Our verdict

SafePal suits buyers who want a self-custody hardware wallet with open source firmware and wide coin coverage at a modest upfront cost. The device costs $49.99 to $89.99 and support runs on email, help centre and community alone, so anyone holding a large balance should expect to handle setup questions alone.

Key facts

Best for
A self-custody hardware wallet with open source firmware, wide coin coverage and a modest upfront price.
Wallet type
Hardware↗
Price
$49.99 to $89.99↗
Custody
Self custody↗
Coins supported
200↗
Secure element
CC EAL6+ secure element↗
Open source
Yes↗
Connectivity
Bluetooth, USB-c↗
Backup options
Seed↗
Legal entity
SkyGenesis Holdings Limited↗
Founded
2018↗
Support channels
Email, Help-centre, Community↗
Features
Self-custody
Official website
safepal.com

Facts checked September 26, 2026, 4 sources

Apps and profiles

Get the app
App StoreGoogle Play
Elsewhere
XLinkedInyoutube.com

Pros and cons

Pros

  • Priced at $49.99 to $89.99, which sits in line with the hardware wallet median of €69.28 across this category
  • Custody is self custody, so the keys sit on the device and no operator holds or can move the balance
  • The firmware is open source, so the code that handles keys and signs transactions can be read and checked by others
  • Coverage runs to 200 coins, and the device connects over bluetooth and usb c for phone and desktop setups

Cons

  • Backup is a seed phrase, and there is no split-share option, so a paper copy covers the whole balance
  • Support runs on email, help centre and community, with no live chat or phone line listed for holders who get stuck mid-setup
  • Signing needs a phone or computer running the app, so recovery depends on your own seed phrase alone
SafePal

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Scored 9.0 / 10 by HodlCue.

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Who it suits

  • Buyers who want to hold their own keys rather than see a balance sit with a platform operator
  • Holders of many small positions who need wide coin coverage from a device they must set up themselves
  • People who are comfortable buying hardware and writing down a seed phrase that they will keep offline and private

Who should look elsewhere

  • Anyone who wants a platform account with deposit rails and an app balance, since bynex runs on custodial custody
  • People who need help from a live agent, since support runs on email, help centre and community with no phone line listed
  • Buyers who want a phone-only software wallet, since this is a hardware device they have to buy first

How your money is protected

Custody is self custody, so the keys are generated on the device and no operator can move a balance. Signing runs on a CC EAL6+ secure element, the chip class used to resist physical extraction attempts on the hardware. The firmware is open source, so the code that handles keys and builds transactions is published for review rather than kept closed.

The company behind it

SafePal was founded in 2018 and operates through SkyGenesis Holdings Limited, the entity named in its terms. Because it sells a device rather than holding money, it is not listed with a financial regulator and no deposit protection scheme applies. Support runs on email, help centre and community, so setup questions go through written replies, the help centre and the community.

How SafePal compares

Frequently asked questions

How much does a SafePal hardware wallet cost?+

The device costs $49.99 to $89.99, and that is the whole outlay because no account subscription is attached. It sits in line with the hardware wallet median of €69.28, so the purchase price is typical for this category of device.

Does SafePal hold my coins?+

Custody is self custody, so private keys are generated on the device and never sit with the company. Nothing is credited to a SafePal account, so no deposit protection scheme applies to any balance. Losing the seed phrase means losing the coins, with no operator able to restore them.

How is the wallet backed up?+

Backup runs through a seed phrase, the recovery method listed for the device. There is no split-share option, so a paper copy has to cover the whole balance. Anyone who finds that paper controls the coins, which makes careful offline storage more important here.

How many coins can the device hold?+

Coverage is 200 coins, and the device ranks 35 out of 108 brands on that measure. That is a broad list for hardware, though token support follows the chains the firmware tracks, so check the current coin list before buying.

What support does SafePal offer?+

Support runs on email, help centre and community, so written replies, a help centre and the community cover most setup questions. There is no live chat or phone line listed, which matters more for anyone holding a larger balance and wanting a human on the other end.

Who is behind SafePal?+

SafePal was founded in 2018 and operates through SkyGenesis Holdings Limited, the entity named in its terms. It is a hardware maker rather than a financial firm, and no regulator is listed for the business. That suits buyers who want a device only, not a balance held for them.

Sources

  • safepal.com checked September 26, 2026

    Backs: Custody, Support channels, Wallet type

    “Your private keys never leave your non-custodial wallet so no one else has access to them, ever.”

  • safepal.com/en/about checked September 26, 2026

    Backs: Founded

    “In 2018, Veronica Wong, a veteran in the tech industry, founded SafePal with two co-founders who shared her mission.”

  • safepal.com/en/about/terms checked September 26, 2026

    Backs: Legal entity

    “SkyGenesis Holdings Limited (hereinafter referred to as, "SafePal", "the Company", "ourselves", "we" or "us")”

  • safepal.com/en/store/x1 checked September 26, 2026

    Backs: Backup options, Coins supported, Connectivity, Features, Open source, Price, Secure element

    “Mnemonic Phrase Card x 3”

Compiled from 4 source pages, checked September 26, 2026. We did not open an account.

SafePal

SafePal

A self-custody hardware wallet with open source firmware, wide coin coverage and a modest upfront price.

9.0/10See alternatives