How to Use SafePal Wallet? Complete Setup and Transfer Guide

Wallet Creation and Initial Setup

1. Download the SafePal mobile application from official app stores or the SafePal website.

2. Launch the app and select “Create Wallet” to generate a new non-custodial wallet.

3. Carefully write down the 12-word recovery phrase on paper—never store it digitally—and confirm it in reverse order.

4. Set a strong six-digit PIN and optionally enable biometric authentication for faster access.

5. Complete onboarding by granting necessary permissions, including location access required for later bank account verification.

Integrating Fiat24 Banking Services

1. Navigate to the “Bank” tab inside the SafePal app and tap “Open Account” to initiate Swiss banking integration.

2. Provide valid government-issued ID—Chinese users may use their second-generation national ID card.

3. Input accurate personal details including occupation, annual income range, net worth, and primary source of funds.

4. Select intended usage purpose such as investment, currency exchange, or withdrawal—multiple options can be selected.

5. Accept Fiat24’s terms and conditions, verify your email address using the six-digit code sent to your inbox, then proceed to identity validation.

USDC Deposit and EUR Conversion

1. Go to the “Bank” section and choose “Deposit” to begin funding your Swiss IBAN account.

2. Select USDC on Arbitrum network as the deposit asset and copy the provided wallet address.

3. Initiate an on-chain transfer from your existing Arbitrum-based wallet or exchange.

4. Wait for confirmation—typically two to three block confirmations—before the amount appears in your SafePal Bank dashboard.

5. Tap “Convert” to exchange deposited USDC into EUR at real-time market rate; the converted balance becomes immediately available for SEPA transfers.

SEPA Transfers to Crypto Exchanges

1. Enter the recipient’s SEPA-compliant IBAN and BIC details—such as those provided by Kraken or Bitstamp for EUR deposits.

2. Specify the exact EUR amount and ensure sufficient balance covers both principal and potential intermediary fees.

3. Review all transaction fields including reference field, which must match exchange requirements exactly.

4. Authenticate the transfer using your device’s fingerprint sensor or PIN.

5. Monitor status within the “Transaction History” panel—SEPA credits usually settle within one business day.

Card Binding and Domestic Consumption

1. Once your SafePal-branded Mastercard is issued and activated, go to “Cards” in the app and select “Bind to WeChat Pay”.

2. Follow WeChat’s built-in card binding flow—enter card number, expiry date, CVV, and billing address matching your Fiat24 profile.

3. Confirm binding via SMS OTP sent to your registered mobile number.

4. Use the card for QR code payments at physical stores or online merchants accepting WeChat Pay.

5. Note that per-card daily spending limit stands at ¥3,000, with an annual cap of ¥15,000.

Frequently Asked Questions

Q: Can I receive fiat deposits directly into my SafePal bank account from a traditional Chinese bank?A: Yes—Fiat24 supports incoming SWIFT transfers in USD, EUR, GBP, and CHF. Domestic CNY transfers are not supported due to regulatory constraints.

Q: Is there any KYC requirement beyond ID verification when opening the Swiss account?A: Additional documentation may be requested if declared annual income exceeds $100,000 or net worth surpasses $500,000—such as proof of employment or asset statements.

Q: What happens if I lose my SafePal hardware wallet while holding the linked bank account?A: Your Fiat24 banking credentials remain separate; only the recovery phrase restores crypto assets. Bank access relies on app login credentials and verified identity—not hardware device linkage.

Q: Are there restrictions on withdrawing EUR to non-SEPA accounts?A: Withdrawals outside SEPA zones incur higher fees and longer processing times. Non-SEPA destinations require SWIFT routing and may involve correspondent bank deductions.