Is veet safe to use on female genitals?!

No, it specifically says on the package that it's not for use down there.
Yes I did once ignore the precautions, many women do, but you do end up paying for that!

Basically pubic hair is too course for it so it would only partly-work causing patchiness and rubbery hairs that have only partly been effected by the cream, so you'd not even be able to shave to tidy it up, as it dissolves the hairs and the hairs are so thick you tend to get bleeding too. Ingrown hairs and general irritation is more common too - given the thickness of the hairs and how fast they grow back it's really not worth it as the hair grows back about as fast as they would from shaving.

This stuff is also nasty on any part of your body - I've had horrific chemical burns on my arms after using this stuff, you can just suddenly have freak reactions. On more delicate skin down below, or worse on vulva mucosa which is inside your vulva and an area where you may have hair so get the cream either on purpose or accidentally, it is even more sensitive so more prone to irritation, allergic reactions and chemical burns. You seriously don't want to risk chemical burns down there!

Did you read the can? Because it says on the can not to use it there.

it shouldnt do you any harm but if you experience pain or discomfort, you should stop