Safepal Price Prediction 2023, 2025 and 2030: Is SFP token a good investment?
Safepal Price Prediction: Considering SafePal’s growth rate of 51% in one month, its value might get doubled in less than two months.
SFP Price Prediction: Latest Price
SFP Price Prediction: What is SFP used for?
There is a maximum supply of 500 million SFP tokens and out of which 108,166,667 are in circulation (which is nearly 22% of the total). SFP tokens are earned through SafePal campaigns, staking rewards, and other tasks within the SafePal app.
Let us have a look at its use cases:
- SFP is used to provide numerous offers and discounts to users within the SafePal ecosystem.
- SFP holders can participate in the development of the SafePal ecosystem through voting.
- The token can be exchanged for other crypto assets including Bitcoin and Ethereum.
- SafePal token can also be used as a mode of payment for various services.
- SFP tokens can be staked in SafePal Earn and Lending programs to get rewards.
- SFP can help its holders to earn more tokens via SafePal’s Airdrop named “Wallet holder Offering”.
SFP Price Prediction
The current market price of SFP is $0.77 (as of November 18th) and is up by 19.59% in 24 hours. Its market capitalization is $83,828,030.3 and is increased by almost 22.65% since the last day.
Before predicting whether SFP is expected to go up or down in the coming future, let us first overview its price history for the past few months. Its performance in the past months can help us gain the required context for the future.
Above is the SFP’s graph for 1 year and as we can see that the market price of SafePal token one year ago was $1.27. Hence, there is a decline of 62.8% in SFP’s price since November 2021. Also, there a numerous ups and downs stating that the decline wasn’t consistent.
The above graph depicts that the SFP’s price has increased by more than 46% in just three months, keeping in mind that its price 3-months ago was $0.41. One of the reasons for the price hike in recent months is the increasing popularity of non-custodial wallets. No doubt that self-custodial wallets provide users with full control of their private keys and funds, eliminating the need for third-party in-between.
The all-time high value of SFP is $3.54 achieved in March 2021 and after that, the price started to fall (non-consistently though). It means that SFP is currently 359% below its all-time high value stating that it has a huge capability to grow.
Also, SFP’s market price a month ago i.e., on 18th October was $0.37, meaning that it has grown by more than 51% since then till November 18th.
Now, considering its growth rate of 51% in one month, its value might get doubled in less than two months.
SFP Price Prediction: Comparison with competitors
SafePal’s one notable competitor or alternative is Trust Wallet whose native cryptocurrency is Trust Wallet Token (TWT).
Similar to SafePal, Trust Wallet is a crypto wallet that is non-custodial and mobile-based supporting more than 4.5 million digital assets and 65 blockchains.
The current market price of Trust Wallet Token (TWT) as of November 18th, 2022 is $2.19 and is down by around 5.73% in the last 24 hours. Its 1-month price graph states that the price has increased by 50.68% in one month in comparison to a 51.94% increase in the price of SFP.
Other factors to compare:
|Product Features||Crypto Wallets||Crypto Wallets, Crypto Staking, Defi Tools, NFT Wallets, and Crypto exchanges|
|Deployment||iPhone, iPad, and Android||SaaS, iPhone, iPad, and Android|
|Performance in past 7 days||+58.9%||+46.8%|
|Performance in the past 1 year||-62.8%||+50.9%|
|Number of users||6 million in 140 countries||25 million+ users|
|Safety Features||SafePal has advanced security features such as a hack-proof EAL5+ secure element, two-factor authentication, and self-destruct mechanism.||Trust Wallet’s additional safety feature is that it safely stores the private keys for backup purposes and hence, the users can access it in case their device is broken or lost.|
Apart from the above-mentioned features, both tokens are backed by Binance.
To conclude, SafePal’s one-month growth is comparable to its competitor but has underperformed in 1 year as compared to Trust Wallet. However, its advanced safety features make it a clear winner over its competitors. Additionally, the SafePal S1 hardware wallet is completely safe to store cryptos.
SFP Price Prediction: Is SafePal (SFP) a good investment?
To answer, whether SFP is a good investment or not, let us first analyze its competitor’s price movements.
SFP’s competitors’ price analysis:
Apart from SFP’s price movement, let’s have a look at how its competitors have done so far this year.
The current market price of TWT (as of November 18th) is $2.19 and has a market capitalization of $912,217,397.
The market price of SFP has declined by more than 62.8% in a year, while in the case of TWT, there is a hike of 50.9%, as suggested by the above graph, since November 2021.
Also, because more people are now switching to non-custodial wallets, wallets such as Trust Wallet and SafePal have much scope for future growth. It is because the custodial crypto wallets store all the user’s data in cold and hot storage which are easier to hack by intruders. It means that their security level is lower compared to the non-custodial wallets, where only users guard their private keys without the involvement of any third party.
Moreover, the recent FTX crash has made people distrust centralized exchanges even more, and hence, the use of such wallets has increased in the past week. Also, Trust Wallet being acquired and supported by Binance has an ecosystem in place hard to compete.
However, analyzing the price movements of SafePal and its competitor, we can safely say that SafePal is far below its all-time high which leaves a huge scope for its future growth. Also, it has more scope because it is one of the top wallet tokens, and given the current market scenario and shift in consumer preferences this can become one of the go-to wallets.
What are the distinctive features of SafePal that set it apart?
- SafePal is the first hardware wallet that is backed by one of the largest crypto exchanges, Binance.
- The wallet serves 6 million users across the globe (140 countries).
- SafePal offers multi-functional storage for the wallet with its three different products. Its product range includes both, a software wallet and a SafePal S1 hardware wallet.
- SafePal makes it easier to transfer cryptocurrencies to the wallet along with maintaining the security of the private keys.
To conclude, SFP is indeed a good investment option for the medium term, not just because it’s non-custodial, but because it also provides a safer option to secure funds and assets. Its wide product line is another factor that makes the platform more user-friendly and hence, worth investing in.
Safepal Price Prediction 2023, 2025, and 2030
Although the price prediction cannot be 100% accurate, deep analysis and the coin’s past performance can indeed predict its future. Let’s try to forecast SFP’s price for 2023, 2025, and 2030:
With a Coinmarketcap ranking of #185, SafePal has a market capitalization of $83,828,030.3. Currently, 108,166,667 SFP tokens are in circulation, which is 22% of the total supply. Its all-time graph depicts that SFP’s price has decreased by more than 68% since 2021.
SFP Price Prediction 2023
As per the Price Prediction, in 2023 the SFP price is expected to reach a maximum price level of $1.2.
SFP Price Prediction 2025
As per the Price Prediction, in 2025 the SFP is expected to reach a maximum price level of $2.5.
SFP Price Prediction 2030
As per the Price Prediction, in 2030 the SFP price is expected to reach a maximum price level of $17.8.
SafePal Price Prediction: About SafePal
SafePal is a secure and user-friendly crypto wallet, serving more than 3 million users across the world. Being user-friendly, it is very much suitable for beginners. The Wallet was launched in 2018 with the aim of facilitating users to protect their crypto assets.
One important point regarding SafePal is that it provides both i.e., hardware and software wallets. SafePal S1 is the hardware wallet that stores all the users’ assets in offline mode and thus, is absolutely safe.
Moreover, it supports a number of cryptocurrencies (including ETH, BNB, and BTC) that the users can easily swap, trade, store and manage without worrying about security. Users can manage their SafePal Software and Hardware Wallets using SafePal App, which they can find on Appstore and Google Play.
The native token of SafePal is SFP, which is a BEP-20 token and can be transferred to any wallet over the Binance Smart Chain network.
Note: Crowdwisdom360 collates Predictions and data from all over the net and has no in-house view on the likely trends in the Stocks or Crypto Coins. Please consult a registered investment advisor to guide you on your financial decisions.