[AMA Recap] Women’s Day Special AMA with SafePal CEO Veronica

On the 2022 International Women’s Day, the SafePal Discord community is delighted to welcome the SafePal CEO Veronica, an outstanding female entrepreneur, to talk about the most exciting moments in her crypto journey, how she built SafePal into a global wallet serving 5 million+ users, how she views crypto adoption in the next 3-5 years, and more. Scroll down and read the fantastic recap!


🎤FIRST SEGMENT: Guest Interview🎤

V: Veronica Wong
I: Ivy

I: Greetings everyone !! 😊
Let’s extend a warm welcome to Respected woman, @Veronica_SP the CEO of SafePal, who is today’s AMA guest. 😊🙏🏻
🎉 🎉

V: Hi everyone, it’s so exciting to be here. The last time when I shared and talked among the community was still back when we were on Telegram. It’s a great pleasure to join here again and talk to you all! 🔥 🔥 🔥

I: It’s our absolute pleasure to have you here with us today. 😊 I am sure that we all will learn so much from you.

V: Thank you, Ivy!! It feels like home to be here. I’m glad that we have a chance together to celebrate International Women’s Day in this most special way. Best wishes to every one of you in the community. Wish you a happy International Women’s Day. 👩🏼‍🦰 👷🏼‍♀️ 🧝🏼

I: Let’s begin with today’s AMA by starting with the first segment, which is questions from me (I am the host today). 🎤 🌷

V: Can’t wait 👌🏼

I: Let’s start!
Q1: It’s been 4 years since SafePal was founded, and SafePal has achieved a lot of milestones throughout the journey. What are the most exciting moments, in your opinion, and why?

V: It’s been an amazing journey since we started all of this in 2018. We’ve built a lot of milestones with the strong support and love from the community, which we’ve shared on the homepage (https://safepal.io/about). I do want to express my gratitude and thankfulness to all of you, who are supporting SafePal along the way and witness our growth in the last 4 years.

The most exciting moments out of the 4 years, however, are not when our user base reached 4 million a few months ago, not when we launched the $SFP token and witnessed its Binance Launchpad listing last February, not when we launched new features such as Swap, trade, Earn, but when I received appreciation, recognition, thank-you letter and 5-star comments from our genuine users. I’ve even collected some! Let me show you!

The moments that we know that the product we built is useful and helpful for you are the most exciting moments that are driving us to move further and faster. We are deeply encouraged by your support and thank you all for this. We can’t make this happen without you. Thank you for this! 🙌🏼 👏🏼 💯

I: So impressive!!! SafePal has a bright future, and I look forward to seeing more achievements!

Q2: It’s rare to see female CEOs. Have you faced any barriers in the crypto area due to being a woman?

V: Female indeed takes a smaller percentage in the crypto space but this is not rare in the tech industry. Since crypto and blockchain are still in their early-stage, we are seeing more and more women joining the space to contribute their intelligence and wisdom to the trajectory of Web3 world.
Among the SafePal team, we have many excellent female members who are doing a great job in customer success, community (our dearest Ivy! @Ivy_SafePal 💟 ), and talents. I don’t see any practical barriers stopping women from entering this world and actually the women that I’ve seen in the space are actually very successful! The CMO of Binance, for example, is a lady called He Yi. There are a lot of examples to go and I won’t name all of them here. I look forward to seeing more women joining the space in the long term. ✅

I: These are some valuable experiences. 🌷 Thank you for sharing.

Q3: What is the most important message you want to send to young women thinking about building their careers in the crypto world?

V: Well, it’s very simple:

If you feel like doing it and being part of this ecosystem, just come and join it. There is nothing that can stop you from achieving your goals. Soon you will realize this space is the most fast-growing and magical world on earth. 🙂

I: Absolutely true 😁

Q4: Can you list 3 excellent features of SafePal that make it ahead of competitors? What are the competitive advantages of SafePal?

V: WOW this is a tough one
Firstly, our mission is to enable users to secure and grow their crypto assets safely and conveniently.
Till now SafePal is the only decentralized wallet on the planet that provides advanced hardware wallet, mobile, powerful software wallet, and most importantly diversified asset management solutions all in one place. Users can store a large number of assets in the hardware wallet for asset safety, smaller assets in the software wallet for daily transactions, stake assets into SafePal Earn to yield passive income, and exchange crypto via the Binance Trading DApp.
Honestly, it is impossible to pick only 3 features out of these many shining points of the SafePal products. I will strongly recommend you to try them out by yourselves. Feel free to share your comments and feedback in the community 👉🏼 👉🏼 👉🏼 https://discord.gg/c3xg3Q5hxP

I: Q5: SafePal wallet provides low fees, fast transaction speeds, reliable and easy-to-use services.
What can we expect from SafePal in the near future?

V: 🎇 More blockchain supports: this is the fundamental part of our mission. The team will continue to support as many blockchains as possible to enable safe and easy crypto storage for more users across the different native blockchain ecosystems. You will be seeing a lot of new chains supported in 2022.
🎊 New wallets: we’d like to provide a seamless experience for users across different platforms and via different types of wallets. Recently we are going to launch a new product that will provide an ultra-smooth experience for users. Stay tuned.
📜 Open-source: It’s been on our roadmap for a while and we haven’t stopped pushing it through. Massive technical preparation and research are going on. We look forward to building trust and transparency among the community via this program.
🌟 Rebranding: We are working with one of the best design studios in the US to bring a fresh design to our VI and products. Hope to see you all with our new look later this year.
Actually, there are a lot more but I’ll stop here and let you discover as we launch more new items 🙂

I: All right, we’re counting the minutes to see!! 😍

Q6: What is the development direction of SafePal?

V: As mentioned above, part of the dev plan is surrounding multi-chain support, new types of wallets, and open sourcing.
On top of that, we are also actively iterating the products to make them easier to use, especially for users without any crypto background.
We recently have launched user research in which we talked to a lot of users who have entered this space for less than 6 months. We collected their feedback about using our products and learned a lot of useful findings. For example, the way we guide users through the wallet import and recovery process need to improve to eliminate the information flow and let users focus on one item at a time. There are more details like this.
So the product team is now actively working on all these user demands and suggestions, and gradually pipeline them into our improvement plans coming next. At the end of the day, all of the product and dev plans would be tightly surrounding making the products safer and easier to use for everyone.

I: Q7: How long do you think it will take for cryptocurrency to become mainstream?

V: Hm…..interesting
I have to say that it’s already taking place
in real life
In the last 2-3 months, the world has put its eyes upon cryptocurrency, web3, and decentralization.
Firstly Coinbase, Crypto.com, and some other crypto companies have sponsored the US superball event which covers more than 300 million audiences. It has brought everyone’s attention to the crypto space. It’s also strong proof of crypto playing a brand-new role in front of the general public.
Also, the Canada truck convoy has accidentally led the public attention to cryptocurrency when the Canada Deputy PM explicitly said that the names of both individuals and entities as well as crypto wallets have been shared by the RCMP with financial institutions and accounts have been frozen and more accounts will be frozen.
About this, the CEO of Kraken Jesse has replied to the community that they will be forced to do as the regulator requests if the time comes to take legal action (https://twitter.com/jespow/status/1494462097161220104?s=21 ). All of a sudden the whole world especially those who trust their funds in exchanges are aware of how important it is to own their decentralized wallet.
And the Russian-Ukrain war has pulled the world’s attention to crypto further as the Ukrain president announced accepting crypto donations. Due to the US sanction upon Russia, the bank accounts of numerous Russian people are frozen, forcing them to switch to cryptocurrency.
I’d say what happened in the last couple of months has dramatically shifted the direction of cryptocurrency and it will become an important milestone for the whole industry if we look back from the future.
It’s pretty exciting to be part of this history witnessing moments that have never happened before in the life of many of us.
This is a great question. I’m done answering. Thanks a lot.

I: Q8: More and more people jump into the crypto area and want to learn about projects and blockchain technology. Has SafePal noticed this and provided any educational material?

V: Yes, we have been working on it for a while now.
As the product features of the SafePal wallet continue to grow and evolve, we are keen on producing educational content to walk users through how to use the wallet to store and protect their funds.
For example, we’ve been posting info-graphics to teach people how to use a decentralized wallet like SafePal, how to protect themselves from malicious smart contracts, etc (Following are some of the examples). And we have dedicated channels in this server to provide beginners’ guide and tutorial ( 🎒︱beginners’-guide & 🎒︱infographic 🎒︱video-tutorials ). User education will be our primary operation focus for the coming 1-2 years.

I: Q9: While you build your project, do you consider community feedback and demands?

V: Of course!

That’s the most important momentum we will consider when building the product. We’ve built an internal channel to dedicatedly collect user feedback (good or bad). Our customer support team also daily collects user feedback from the CS tickets and submits them to the product team as well. The product should be built for people, for you. Feel free to share your product feedback in the community.


I: Let’s move on to the next segment – Questions from the community.

V: https://discord.com/channels/909067029791776819/950348683386429440/950623779162300426
Q: Currently technology is changing every second, Are you afraid in the future your project will lag behind new projects with newer technology? Do you have a plan for this?

A: No. A user-centered spirit is lying in the heart of every SafePal member. We want to build secure, useful, and convenient products for users to secure and grow crypto assets. It doesn’t make sense if we don’t listen to the community about their comments and feedback because this is directly against our product philosophy. Keeping a sensitive mindset of user demand helps us to move faster in the right direction. Hence I’m not worried about the rapidly evolving industry at all. Instead, I’m excited about it.

V: https://discord.com/channels/909067029791776819/950348683386429440/950625016398094336
Q: Almost 80% of investors are focused purely on the price of tokens in short term instead of understanding the real value and health of the project. Could you tell us on motivations and benefits for investors to hold your token in long term?

Actually, this type of question about $SFP and its utility has been asked a lot in our past activities and monthly community chat.

Firstly I have to admit that building the $SFP utility into the product takes time, considering we need to build useful features that people will actually use. It is against our morals to simply build something that no one will use or shitty in order to fulfill the so-called utility goal. So please bear with us when we are building the token utility into every bit of our product.

Secondly, as an investor, or a member participating in a project like SafePal, it’s also important to aim for the long-term. In the future multi-chain world, the wallet will act as THE most important point of entry for all decentralized crypto users into the blockchain ecosystem.
We are extremely excited to see the potential of SafePal as we step onto a new stage where we’ve served 5Million global users already. Being part of SafePal growth means you will witness and join in the huge suggest that we envision in the future.
I picked this question because I agree partially with the opinion that the crypto space is still highly speculative. That’s why it’s important for us to dive down, dive deep into building tangible solutions for all, instead of shilling tokens and urging ppl to buy our tokens all day long.
We welcome those who share the same vision for SafePal, for crypto, for blockchain to join us and be part of our growth and success.
Thank you.
The third question, just a sec

I: Totally agreed!! I think we should just pay more attention to the SafePal products and their ecosystem.

V: https://discord.com/channels/909067029791776819/950348683386429440/950627365011222529
3rd Q: How do you plan to spread awareness about your project in different countries where English is not good? Do you have local communities like Vietnam, Indonesia, Thailand, Korea,.. so they can better understand your project?

I think this is a great question because indeed it is one of the most important questions to answer for every project in this space where we are all serving a global audience from Day 1. The Crypto world is flat, where everyone shares the same consensus, same blockchain values, and same investment opportunities.
Yet the crypto world is not flat because there are language and cultural barriers between people from different countries speaking different languages.
We have kept this in mind and decided to build products useful for all the crypto users speaking different languages and sharing different cultural backgrounds
1️⃣ First, we have supported 1️⃣ 5️⃣ languages in the product, enabling users to use the products seamlessly without any hurdle.
2️⃣ Secondly, we’ve built a reseller program across the continents, especially in non-English speaking countries such as Spain, Thailand, UAE, Netherlands, and more. The growing reseller network enables us to better support users from different countries on a deeper level.
If you are interested in becoming our resellers, feel free to leave a message here: https://www.safepal.io/reseller

I: Yes! To provide a better community for all of the SafePal users, we are creating more events and having more moderators. I’d like to welcome our new mods joining us last week again @Danny_SafePal @Sarafa_SafePal @Robert_SafePal @Sam_SafePal @Juna_SafePal

V: 3️⃣ Thirdly, we’ve built a Discord community (previously Telegram) into a diversified hub for users coming from every corner of the world. People can talk in Russia, Japanese, Turkish, and all different kinds of languages in the community, sharing crypto knowledge and understandings.
We deeply understand that this is an international market. Hence we need to build the product even stronger to support the fast-scaling-up user base. On the other hand, we also pay attention to multi-cultural backgrounds for different users in our products, sales network, and community.

Hope to hear your feedback about what else languages you want SafePal to support in the product in 🙋︱proposal

I just came across another long one. Let me post it here. Just a sec.
Q: Good afternoon @Veronica_SP. Congratulations on International Women’s Day! I have a question, please. Due to the situation in the world, many users from Russia are facing various blocking. In this regard, there is a question about the safety of storing cryptocurrencies on Safepal wallets. As I understand it, all centralized stable coins support AML, CFT, KYC and are easy to identify, in other words, if they identify the address on the Safepal wallet with an identity, then the stable coins can be frozen even on the wallet itself, as this is supported by their smart contract. Tell me, is this possible? I am also interested in information on whether such a blocking, freezing of funds from the technical side on Safepal wallets in networks such as BSC, Etherium, and others are possible. After all, if you track transactions from a verified exchange account to a wallet, you can identify the owner of the Safepal wallet and block tokens in these networks? Can you tell me if this is technically possible? Also interested in the question, some people say that the funds in the Safepal wallet can be locked at the contract level if necessary. Tell me, is this possible? I am also interested in what will happen to the blockchain, bitcoin, and other coins if Russia is isolated from the global Internet and switches to its own cheburnet or runet? Thanks in advance. Happy holidays and all the best.

This is the 4th that I just came across. I’d say it represents the concerns coming from a lot of users like this one.
Firstly, SafePal is a decentralized wallet, meaning we don’t have access to your private keys or mnemonic phrase. Hence we can’t move or control your money stored in the SafePal wallet. There is no KYC required for users in order to use the decentralized SafePal wallet, namely the SafePal S1 hardware wallet, the software wallet, and the SafePal App.
Based on the above context, we don’t know who, behind each SafePal App, is using or owning a decentralized wallet.
Hence we are not able to freeze them even if as requested by regulators.
I think the users who are concerned about this, are mostly using the Binance Trading DApp.

V: Hence I have to point out that, the above context doesn’t apply to the Binance Trading DApp within the wallet.
The Binance Trading DApp within the SafePal App complies with the Binance terms of use and the funds in the BinanceDApp trading accounts are under the Binance custodian services. There could be further compliance actions taken to protect users’ funds against criminal acts including but not limited to money laundering, terrorism, and more.
Hence please estimate and make your own choice when you want to create a BinanceTradingDApp account.

I: Thank you for mentioning this, I’m sure some of the ppl really concerned about this issue.

V: Indeed it’s important to distinguish between the Binance TradingDApp and the decentralized wallet services.
Last one

5th Q: How do you rate the importance of user community? Coming up, Do you have any special plans to attract and expand the community?

This is the last one
Also, an interesting one because it’s closely related to the community here
The answer is yes.
We’ve been planning to launch further activities and incentives to expand the community and make it useful and helpful for our users.
Today is a great chance that we get together and share knowledge, opinions, and comments.
Coming next we are going to do more.

We will invite the partners of SafePal and their members to participate in our Discord conversation to bring fresh, insightful, educational information to the community.
Also, we are building the Discord level into our product as part of our social incentives within the product as well!
Please share with your friends and invite them if your friends are interested in learning useful knowledge and opinion about crypto, blockchain, NFT, DeFi, Web3, and more.
Thank you! 🚀 🚀 🚀

I: Thank you so much Veronica for giving us such informative and exciting insight.

V: @Ivy_SafePal Thanks a lot for setting this up. I’ve really enjoyed it.
Appreciate your patience in waiting for my last part.

I: I am wishing you and the team all the best for the future!

V: Thank you!

I: Is there anything you want to share with our community at the end of the AMA?

V: Hey everyone, sorry that I can’t answer all of the questions here today. But I look forward to talking to you in the near future as I regularly come back and share exciting news and feedback here.
Chat to you at the March Twitter Space community chat.
Talk soon 👋🏼

I: Thank you, everyone, for joining in, and don’t forget to follow Veronica’s Twitter for further updates. @V_SafePal

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