How to buy SafePal (SFP)
Learn how to buy SafePal (SFP) in our step-by-step guide.
SafePal (SFP) is in the top 1,000 cryptocurrencies by market cap, valued at $247,435,760.
SafePal is a highly volatile asset capable of major price swings in a single day. Today SFP is trading for $0.588509, which is slightly up from yesterday's trading price of $0.6256132457. SafePal's seen an increase of 66% over the past year.
So before you buy SafePal, make sure you understand these unique risks as well as its legal, regulatory and tax status here in the US.
If you're ready to get started, read on for step-by-step instructions and a list of platforms you can buy SafePal.
How to buy SafePal in 4 steps
The whole process can take as little as 15 minutes and all you'll need is a smartphone or computer, an internet connection, photo identification and a means of payment.
Compare crypto exchangesThe easiest way to buy SafePal is from a cryptocurrency exchange. Comparing in the table below lets you find one with the features you want such as low fees, ease of use or 24-hour customer support.
Create an accountTo create an account on an exchange, you will need to verify your email address and identity. Have some photo ID and your phone ready.
Make a depositOnce verified, you can deposit USD using the payment method that best suits you – cryptocurrency, card and bank payments are widely accepted.
Buy SafePalYou can now exchange your funds for SafePal. On easier-to-use exchanges, this is as simple as entering the amount you want to purchase and clicking buy. If you like, you can now withdraw your SafePal to your personal wallet.
Where to buy SafePal
Find an exchange to buy, sell and trade SFP by comparing deposit methods, supported fiat currencies and fees. Select Go to site to sign up directly with the provider.
How we keep this SafePal guide up-to-date
How do I find the best places to buy SafePal?
Cryptocurrency exchanges offer similar services, but differ in a few key ways – mainly fees, the range of cryptos available and payment methods. You can use our table to compare the features of popular cryptocurrency exchanges available in to help you choose the one that's right for you.
Some other factors you may want to consider are customer support, user reviews, ease of use and whether or not the exchange is registered with a local regulator. This information can be found by clicking on the exchange name in the table which will take you to its review page.
What will I need to buy SafePal?
To create an account on any cryptocurrency exchange you will need an email address. Some exchanges may also ask for a phone number and photo ID, so it's a good idea to have those ready.
An increasing number of cryptocurrency exchanges will ask to verify your identity before you can deposit funds and start trading SafePal.
- This process is known as Know Your Customer (KYC) and usually requires photo ID and a webcam or smartphone. You may also need to prove your address by uploading a copy of a recent bank statement or utility bill.
- Some exchanges allow you to deposit and trade cryptocurrencies without passing KYC, but they will not allow you to transfer local currency from your bank account. So if you are planning on purchasing SFP with your local currency then you will need to pass KYC.
- Once you have verified your identity, it is a good idea to enable 2-factor authentication (2FA) before depositing any funds. This will increase the security of your account and help keep your funds safe.
What are the best ways to buy SafePal?
Once you've created an account, you will need to deposit funds to buy SFP with. You can either deposit local currency from a bank account or credit card, or transfer cryptocurrency from another exchange or wallet. Here are some popular ways to to buy SFP:
- Bank account: Transfers from local bank accounts are usually free, but you will need to double-check this with the exchange you choose – this information can be found in our table by clicking on 'view details'.
- Credit or debit card: Linking a card to your account is another convenient way to top up your account, but be aware that it usually attracts an additional fee. An advantage, though, is that you can use a card to make instant purchases or set up a recurring purchase.
- Cryptocurrency: You can usually purchase SFP by trading it for another cryptocurrency like Bitcoin or a stablecoin. This varies between exchanges though, so you will need to search for SFP on the spot market to see what cryptocurrencies it can be traded for.
What is the easiest way to buy SafePal?
The easiest way to buy SFP is by placing an 'instant buy' order to purchase it for a fixed price but not all crypto exchanges offer this feature.
Alternatively, you can open a trade on the spot market which allows you to set your own price – this is the most common way to purchase cryptocurrency. Using the instant buy feature is straightforward but typically more expensive than using the spot market.
Best SafePal wallets to store your SFP
You can keep your SFP on the exchange you purchased it on, or move it to a personal wallet:
- Some people like to use their own wallets to guarantee total ownership over their assets, or to use them with other applications like DeFi services.
- Hardware wallets are typically considered to be the safest type of cryptocurrency wallet, as they use a physical device to enhance security in a number of ways. You can take a look at some of our top hardware wallet picks for self-custody of your SFP below.
Is SafePal a good investment?SFP can boast a security-first approach and the support of Binance, the world's largest cryptocurrency exchange. But before you invest in SafePal, there are a few things to consider.
- Competition. SafePal isn't the company to start with a wallet and gradually expand its services. Like digital wallet Klever, SafePal has laid out an ambitious roadmap towards developing a fully integrated crypto ecosystem.
- Supply. SFP token supply is limited to 500,000,000 on the Binance Smart Chain (BSC). Current market cap is roughly $357 million according to BSCScan. As more users discover SafePal's wallet offerings and enter the company's crypto ecosystem, SFP's changing liquidity may cause dramatic price shifts.
- Rewards. SFP is earned through staking and through completing tasks and earning rewards within the SafePal app. The network uses a proof-of-stake model.
- SafePal Earn. Aside from the hardware wallet, SafePal provides some unique features within its app. SafePal Earn aggregates the different ways to make your SFP work for you, from CeFi interest-earning programs to DeFi lending and staking.
- Expansion. Key to the long-term success of SafePal and the SFP token will be the ability of the company to make the jump from manufacturing hardware and software to maintaining a fully functional blockchain ecosystem. The support of Binance will help, but it remains to be seen if SFP can surpass its competitors.
Today's SafePal price versus ATH
Compare today's price of SafePal ($0.588509 USD) against its all-time high (ATH) price of $4.19 on February 09, 2021. The closer the bar is to 100%, the closer SFP is to reaching its ATH again.
How do I trade, convert or sell SafePal?You can convert or sell your SFP with the same exchange you bought it through:
- Sign in to the exchange you have SFP on.
- If you store your SafePal in a digital wallet, compare crypto exchanges to convert or sell it on.
- Choose Sell or Convert and place a sell order.
- Choose the amount of SFP you'd like to convert or sell.
- Confirm the sell price and fees and close your sale of SafePal.
- Complete your transaction and move your SFP to a wallet for storage.
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