SafePal X1 Review: The Cheapest Cold Wallet – Is It Secure?

If you’re looking for an affordable cold wallet to secure your crypto assets, the SafePal X1 might have caught your attention. At just $29 with a discount code, it’s currently the cheapest cold wallet on the market. But is there a catch? Can such an inexpensive hardware wallet truly offer robust security? In this review, we’ll break down everything you need to know about the SafePal X1, including its design, features, security, and whether it’s worth buying.

SafePal X1: The Cheapest Cold Wallet on the Market

The SafePal X1 is normally priced at $69, but with a $40 discount code, you can grab it for just $29. While that price is unbeatable, it raises questions about how SafePal can offer a hardware wallet so cheaply while still making a profit. To answer that, let’s examine the X1’s build quality, security features, and usability.

Design & Build Quality: Basic Yet Functional

The SafePal X1’s design is simple and practical, resembling an old-school calculator. Here’s what you need to know about its build:

• Material: Made entirely of ABS and PVC plastics, which keeps costs low but makes it feel less premium than competitors like Ledger and Trezor.
• Buttons: Features 12 mechanical buttons, which make navigation easier compared to many cold wallets that have only 2-4 buttons. This makes entering a PIN or seed phrase much quicker.
• Screen: A 1.8-inch monochrome display with three brightness settings. While it’s not the most advanced screen, the text is large and easy to read, even for users with poor eyesight.

Although the SafePal X1 doesn’t have a premium look or feel, its simplicity actually works to its advantage. It blends in as a calculator-like device, making it less conspicuous as a crypto wallet—an added layer of stealth security.

Connectivity & Usability

One of the standout features of the SafePal X1 is its Bluetooth 5.0 functionality. This allows for:

• Faster data transfer
• Extended range (up to 800 feet)
• Lower power consumption

With Bluetooth connectivity, the X1 pairs seamlessly with the SafePal app, which is available on iOS, Android, and desktop browsers (Chrome, Edge, and Brave). This makes managing your crypto much easier compared to traditional USB-only wallets.

For those concerned about wireless security, Bluetooth can be disabled, and transactions can be conducted via the included USB-C cable instead.

Battery Life

The SafePal X1 comes with a 2100mAh battery, which lasts:

• Up to 3 hours with continuous use
• Several weeks to months when powered off

Although the battery is relatively small, its efficient Bluetooth 5.0 connectivity helps conserve power.

Security: Can a $29 Cold Wallet Be Secure?

Security is the biggest concern for any cold wallet. Despite its low price, the SafePal X1 comes with impressive security features:

1. Open-Source Firmware (Mostly)

SafePal markets the X1 as their first open-source Bluetooth hardware wallet, which is mostly true. The firmware and essential security functions (like private key generation, signature approvals, and smart contract interactions) are fully open-source and available on GitHub.

However, the E5+ secure element chip, which stores private keys, is not open-source. This isn’t unusual—most hardware wallets, including Ledger and Trezor, also keep their secure elements closed-source.

2. Self-Destruct Mechanism

If the X1 detects unauthorized access (such as someone physically opening the device), its self-destruct mechanism wipes all data, preventing hackers from accessing your funds.

3. Multi-Layer Security Features

• PIN protection: Prevents unauthorized access
• Hidden wallet option: Also known as the passphrase feature (13th or 25th seed word)
• Tamper sensors: Detects physical intrusion attempts and erases data

For a $29 hardware wallet, these security measures are impressive and comparable to more expensive options.

Coin & Token Support

Despite its low price, the SafePal X1 supports tens of thousands of cryptocurrencies and NFTs across 100+ blockchain networks. This includes:

• Bitcoin (BTC)
• Ethereum (ETH) & ERC-20 tokens
• Binance Smart Chain (BSC) tokens
• Polygon (MATIC)
• Solana (SOL)
• NFTs

This level of coin support is on par with industry leaders like Ledger and Trezor.

The SafePal App: One of the Best Hardware Wallet Interfaces

The SafePal app is a major advantage of the X1. With it, users can:

• Manage multiple cryptocurrencies
• Track favorite assets
• Swap certain coins directly in-app
• Stake crypto for passive income
• Use decentralized applications (DApps)

The app is user-friendly, making the X1 a great choice for beginners and advanced crypto holders alike.

Why Is the SafePal X1 So Cheap?

The biggest mystery around the X1 is its low price. Here’s the explanation:

1. The $29 price is a temporary promotion – Its actual price is $69, but SafePal is offering a $40 discount code to promote the wallet.
2. Lower production costs – The X1 is made of cheaper plastic materials and lacks premium features like a color touchscreen or metal casing.
3. Market strategy – SafePal aims to compete with Ledger and Trezor by offering an affordable alternative.

When asked why the discount exists, SafePal stated:

“We want to promote asset security, and the X1 is our new product. A Ledger or Trezor is too expensive for many people.”

While this seems like a jab at competitors, it’s true that Ledger and Trezor could lower their prices but don’t need to because of their dominant market positions.

Final Verdict: Should You Buy the SafePal X1?

The SafePal X1 is hands down the best budget cold wallet currently available. Here’s a quick summary:

✅ Pros:

• Extremely affordable ($29 with discount)
• Open-source firmware (mostly)
• Bluetooth 5.0 & USB-C for flexibility
• Excellent security features (self-destruct, PIN, hidden wallets)
• Wide coin and NFT support (100+ blockchains)
• User-friendly SafePal app

❌ Cons:

• Plastic build feels cheap
• Small monochrome screen
• Secure element chip is not open-source

Final Rating: 9/10 ⭐⭐⭐⭐⭐⭐⭐⭐⭐

For just $29, the SafePal X1 offers unbeatable value. Whether you’re new to crypto storage or an experienced user looking for a cheap backup hardware wallet, the X1 is a great investment.

💡 Tip: If you’re serious about securing your assets, make sure you understand cold wallet best practices—even the most secure wallet won’t help if you make common mistakes.

🔗 Get the SafePal X1 while the discount lasts!   $40 OFF Code: “13246500@sfp

FAQs on Crypto Wallets and Exchange Delisting

1. What should I do if I forget the last two words of my wallet seed phrase?

You can try using a basic seed recovery tool like SeedRecover. It helps to recover missing or partial seed phrases by checking possible combinations.

2. Can I recover my crypto if an exchange delists a token?

No, once an exchange delists a token, it may no longer be accessible or tradable on that platform. However, if you withdraw the token to a self-custody wallet before delisting, you can still manage and trade it elsewhere.

3. What happens if I lose my entire seed phrase?

If you lose your entire seed phrase, you will likely lose access to your crypto permanently. There is no way to recover it unless you have backed it up somewhere safe.

4. Is it safe to store my seed phrase online?

No, storing your seed phrase online (in cloud storage, notes apps, or email) is extremely risky. Hackers can steal it, giving them full access to your funds. Always write it down and store it in a secure, offline location.

5. Why do exchanges delist certain cryptocurrencies?

Exchanges delist tokens for various reasons, such as low trading volume, regulatory issues, security risks, or project abandonment. Always keep track of announcements from your exchange.

6. Can I still access my delisted crypto?

Yes, if the token exists on a blockchain, you can still access it using a compatible wallet that supports the token’s network. You may need to trade it on a decentralized exchange (DEX) or another platform that still supports it.

7. What should I do before a token gets delisted?

Before delisting, you should withdraw the token to a private wallet or trade it for another asset on the exchange. If you wait too long, you might lose access to your funds.