Looking for a best crypto wallet in India? Great! You have reached the right place; we are here to help you Cryptocurrency is a financial asset that is available digitally and can be mined or transferred on online secured platforms using blockchain technology.
There are various types of cryptocurrencies such as bitcoin, ethereum, dogecoin, etc. A crypto wallet is very similar to a mobile wallet. It helps you store and keep a track of all the cryptocurrencies you own and allows in their smooth transfer.
The only difference between the crypto and mobile wallet is that a crypto wallet has private keys. It is usually protected by password and can be accessed only by its owner unlike blockchain which is decentralized and shared.
There are various crypto wallets available to store your cryptocurrencies. All these wallets need to follow the Bitcoin protocol irrespective of how they function.
Types of Cryptocurrency Wallets
The cryptocurrency wallets can be in the form of software, hardware or paper. The software wallet can further be categorized into desktop, mobile and online.
Desktop wallets
Desktop wallets need to be installed on your desktop or laptop. It is the most secure way to access your bitcoins; however, you may lose all your coins in case your computer gets hacked. This wallet can only be accessed through the computer on which the software is installed.
Mobile wallets
Mobile wallets as the name suggests are installed on your mobile phone. It is the easiest and most convenient method to send and receive bitcoins as it does not require and special equipment.
Online wallet
Online wallets are cloud based wallets and can be accessed on any computer with a stable internet connection. Since it can be accessed from any location, it is the most convenient type of wallet for people who travel frequently; however, it is also the most prone to online theft and hacking.
Hardware wallets
Hardware wallets store private keys in a hardware device such as USB. It is the most secure way of storing cryptocurrencies as there is no chance for online theft or hacking. It supports various types of currencies which can be transacted by connecting to the internet.
Paper wallets
Paper wallets requires you to have a printed copy of your keys to easily send and receive funds. It offers the highest level of security and is very easy to use and access.
Also Read: Best Crypto Exchanges in India, best bitcoin wallet in india
In this guide, we ranked and reviewed the best cryptocurrency wallet in India, along with our top 3 choices, so that you can pick the best one for you.
Top 10 Best Crypto Wallet in India (2022)
Want to jump straight to my top picks? My favorite's among best crypto wallets are Trust Wallet and WazirX.
1. WazirX
WazirX, an Indian cryptocurrency exchange, also offers a wallet. You use the WazirX exchange and have a web or mobile-based crypto wallet.
WazirX has partnered with Binance (the largest cryptocurrency exchange in the world).
To use the wallet, you must first create a WazirX account. On Wazirx, you can trade in over 200 pairs and store all of your cryptocurrencies in the wallet.
The wallet can be used to trade on the WazirX exchange and to conduct P2P (direct buy/sell) transactions. WazirX uses two-factor authentication, such as Google authenticator or mobile OTP-based authentication, for security.
Features
FEES
WazirX does not charge a deposit fee, but withdrawal fees (which vary depending on the cryptocurrency) and minimum and maximum withdrawal amounts apply.
2. Zebpay
Zebpay is a multi-cryptocurrency exchange that also has a crypto wallet feature.
Following a brief closure as a result of the RBI's cryptocurrency advisory, Zebpay is back in business.
Your cryptocurrencies are stored in a secure pool rather than in individual wallets with private keys at Zebpay.
You can transfer your crypto coins to other exchanges or your own wallet using Zebpay. All of your crypto assets are stored in cold wallets signed with HSM by Zebpay for security reasons (hardware security).
They also use the Omnitrix proprietary security protocol to safeguard all transactions. Zebpay accepts eight cryptocurrencies and allows you to store and trade them in a variety of currency pairs.
Features
FEES
Zebpay currently charges Rs. 0 for trading. However, if you do not trade, you must pay a monthly wallet fee of 0.0001 BTC to keep your wallet running.
The fees for depositing and withdrawing cryptocurrency are charged separately.
3. Coinbase
Coinbase is a cryptocurrency exchange that also offers a wallet. To store and use your bitcoins and other cryptocurrencies, you get a mobile wallet.
The Coinbase app is separate from the cryptocurrency exchange, and the wallet is stored on your phone.
To keep your private keys safe, the app has a secure enclave (Secure Element Technology) that uses biometric authentication technology.
The Coinbase app is available for free download from Google Play or Apple Store (depending on your mobile OS). It can also be used to send money or make payments instantly.
Features
FEES
It's completely free to download and use. To use the wallet, you don't need a Coinbase account.
Coinbase, on the other hand, charges a miners fee for any payment you make with the wallet. Coinbase passes the fee on to the cryptocurrency miner.
4. Unocoin
Unocoin, India's best crypto exchange, is currently leading the cryptocurrency game in the country.
This wallet is a web-based cryptocurrency wallet that is linked to the user's Unocoin account in order to increase the user's accessibility.
This platform accepts bitcoin, ethereum, and tether, which are the most popular cryptocurrencies in India.
The Unocoin wallet works well with both Android and iOS devices. To prevent identity theft and ensure secure transactions, it uses two-factor authentication or OTP-based authentication.
This platform provides a variety of purchasing options for users who want to add funds to their wallet. After a period of time, the user's account is upgraded, allowing them to take advantage of several benefits available only to upgraded customers.
Payments are handled through an integrated merchant gateway. For transactions, the user must pay a small fee. Unocoin wallets can also be used to pay for phone bills and DTH subscriptions. The Unocoin wallet is regarded as the best wallet for cryptocurrency due to its numerous benefits.
Features
FEES
Unocoin has no fees for storing or receiving bitcoins. However, you must pay a fee of 0.0005 to 0.0009 BTC when sending bitcoin to a bitcoin address (miners fee).
When you send bitcoin to an Unocoin user's email address, Unocoin does not charge you anything.
5. Trust Wallet
Trust bitcoin is a mobile wallet that stores bitcoins as well as other popular cryptocurrencies such as Ethereum, Litecoin, Ripple, and 40 other blockchains.
Trust wallet has partnered with Binance (the world's largest cryptocurrency exchange) and is now an official Binance cryptocurrency wallet.
On the Binance exchange, you have the convenience of trading directly from your wallet.
With pin numbers and biometrics, Trust wallet secures your digital assets and private keys. The Trust wallet can be used to send and receive bitcoins via QR code. However, there are only a few reports of coins arriving late.
Features
FEES
The Trust Wallet app is completely free to download and use. However, every time you send any cryptocurrency, you must pay a network transaction fee.
6. Vauld Wallet
The Vauld wallet is an online hot wallet that works in conjunction with the Vauld cryptocurrency platform.
Vauld is a lesser-known cryptocurrency exchange in India because they put in a lot of effort into developing the product before spending money on marketing.
BTC, ETH, USDT, DOGE, LTC, MATIC, ATOM, BAT, and UNI are among the 55 major cryptocurrencies that can be stored in the Vauld wallet.
Vauld's biggest benefit is that you can make a fixed deposit of your cryptocurrencies and earn up to 12.68 percent interest. Vauld allows long-term investors (HODLs) to earn additional returns in the form of interest earnings.
Vauld allows you to get a crypto loan by putting up 150 percent of your wallet as collateral. If you need BTC for online payments, for example, you can borrow from Vauld using 150 percent of your ETH as collateral.
Features
FEES
None
7. Ledger Nano X
The Ledger Nano X is a bitcoin-storage hardware wallet.
The Ledger Nano X is a secure USB stick wallet that works with Windows 8+, macOS 10.10+, and Linux operating systems.
For maximum security, the Ledger Nano X comes with a certified secure chip and a custom operating system.
Ledger Nano X is compatible with iOS (9+) and Android (7+) smartphones.
The hardware wallet is made of stainless steel and plastic and weighs only 34 grammes. Directly from your computer or smartphone, the Ledger Nano X allows you to manage 24 coins and 1250+ ERC-20 tokens.
The Ledger Nano X wallet is powered by a 100mAh battery and can be purchased directly from Ledger or Amazon.
Features
FEES
The Ledger Nano X is priced between Rs. 10,000 and Rs. 12,999.
8. Trezor Model T
Trezor is a hardware wallet that allows you to store over 8 coins and 1000+ ERC-20 tokens offline.
The Trezor Model T wallet weighs 22 grammes and features firmware signature verification as well as a secure bootloader.
An updated security procedure ensures that your wallet is completely secure.
If the wallet fails to verify an invalid firmware signature, the device memory is erased to protect the device from any potential threats.
Trezor is packed in ultrasound hardware seals that cannot be restored after breakage, adding an extra layer of security. To connect the wallet to your computer or mobile device, you'll need a USB connector.
The Trezor T is equipped with a full-color touchscreen and an easy-to-use interface.
Features
FEES
In India, the Trezor T Model costs between Rs. 14,999 and Rs. 18,999.
9. Guarda Bitcoin Wallet
For over 50 major blockchains and tokens, Guarda Wallet offers web-based, desktop-based, and mobile-based wallets.
You can even install the Guarda Chrome extension for Ethereum, which gives you direct access to Ethereum-based blockchain (Dapps) from your Chrome browser.
Your private keys or information are never stored in your Guarda wallet (non-custodial).
You are the sole owner of all your coins. As a result, you must exercise caution; if you lose your backup or password, your wallet will be lost.
On Guarda, your browser generates public and private keys for bitcoin and other currencies, which you can use to send and receive bitcoins.
Guarda protects transactions and private keys with encryption technology.
Features
FEES
You will not be charged by Guarda to download and use the wallet. However, any transactions you make may be subject to a network transaction fee.
10. BuyU Coin Multi-Cryptocurrency Wallet
This platform includes advanced algorithms to prevent online theft, as well as excellent security measures such as encryption, hashing, and two-factor authentication.
To avoid any inconvenience, the storing and transactions are done on separate platforms.
It supports over 30 different digital currencies and allows you to trade right from the wallet.
Features
FEES
BuyUcoin is a cryptocurrency exchange with extremely low fees. You pay no taxes when you open an account, complete your KYC, or fund your fiat or crypto wallet.
The only fees that apply are those imposed by your bank. Furthermore, BuyUcoin warns that transferring your cryptos may incur fees from your personal wallet or other exchanges.
The maker and taker fees on transactions are the only fees charged directly by BuyUcoin. Both the maker and taker fees are 0.24 percent of the transaction value, but they include GST, or government taxes.
There's also an interesting fact about BuyUcoin fees: if you're just starting out in trading and don't want to pay taxes, you can start a trial period that will keep you from paying them.
How to choose the best wallet for your needs
It is very important to determine the type of wallet you need for your cryptocurrencies. If you use bitcoin regularly, it may be wise to choose a mobile or online wallet. However, you need to keep several things in mind before deciding on a wallet. They are:
Crypto Coin Support
Check whether the wallet you are using can support different types of cryptocurrencies. Most wallets support bitcoin, ethereum, litecoin, or ripple. However, if you wish to use other coins then you may need to check whether your wallet supports them or not.
Security
Security is the most important factor that you need to consider before zeroing on a crypto wallet. Does the wallet offer two factor authentication? Is the login safe? Can anybody with my phone easily access it or does it ask for a passcode?
These are some of the questions you must ask yourself before making a decision.
Most crypto wallets in India are password protected and have a private key encryption. The security of the mobile wallet depends on the security level of the device you are using to access it.
Price
Online, web and mobile wallets are generally free for holding cryptocurrencies. The only charges you will have to pay are the convenience and transaction fees that will be applicable every time you send or receive funds.
These wallets only require you to download and install the software available on the app store. For hardware wallets, you may have to purchase them from an offline store which may cost you a few bucks.
Multisignature (Multisig) Support
This feature requires the user to provide multiple keys (the person sending and receiving need to provide keys) for a bitcoin transaction.
This is also the safest way as it can protect your funds from theft. Look out for this feature in addition to regular security in your crypto wallets for a safe and smooth transaction.
Ease of Use
You need to use the crypto wallet that are most suited to your needs. If you wish to transact bitcoins on the go, then a mobile or web wallet may be the best fit.
However, if you store large amounts of bitcoins, then having a hardware wallet may provide the best security to your funds.
If you're a beginner, a desktop or mobile version may be the most convenient. Select the crypto wallet based on your personal use and transaction requirements.
Transparency
The wallet provider's identity and operation needs to be transparent in order to understand how they protect the bitcoins.
Ensure that the wallet you choose has an open source code that can be scanned for flaws and is updated regularly fro maximum protection.
Wallet Backup
Wallet backup is another important aspect to consider before opting for a crypto wallet. Most wallet providers offer a way to backup your account and restore it seamlessly in case of any issue.
The backups are also password protected to ensure it does not fall in the wrong hands. It is essential to look out for these possibilities as it may come in handy incase of any mishap in the future.
Conclusion
Cryptocurrencies are the future. As technology advances, the usage of these currencies is going to steadily increase in India as well as the world. Most wallets can be used to hold currencies such as bitcoin, ethereum, ripple or litecoin.
The bitcoin wallets can be downloaded from anywhere regardless of the location. It is a decentralized process and a person can send or receive Best Crypto Wallet in India to anyone irrespective in which country they are located.
Before downloading a wallet, cross check all its features and ensure that it offers the highest level of security to its users. Weigh all the pros and cons of each wallet and select one that is best tailored to your needs.
It may take time for you to completely understand the bitcoin system; however, with regular use, a person may get a hang of it and start trusting the system.
frequently asked question
Q1. What is the difference between cryptocurrency exchange and crypto wallet?
A crypto currency wallet is similar to a mobile wallet. It allows an investor to store various cryptocurrencies or for crypto transactions.
On the other hand, crypto exchange is a website or service which allows you to convert real money into bitcoin or any other cryptocurrency and even help in the transactions.
Q2. What is the difference between a private and public key?
A private key helps an investor in both encryption and decryption. It is shared between the sender and the receiver and is required to send or receive cryptocurrencies.
Public key can only be used to encrypt the data. If a person wishes to receive the funds, he may have to use a private key which is shared between the two parties, to decrypt the data.
Q3. What is the use of 2-factor authentication?
A 2 -factor authentication is an additional step that is added to your login process, such as OTP or fingerprint scan to strengthen the security of you online account.
It is basically a two step identification process that is done before allowing a person to access their wallet.
Q4. What is the difference between hot wallets and cold wallets?
A hot wallet is an online wallet which can be easily accessed using the internet on any device. It is the most convenient form of wallet to use; however, it also is vulnerable to online thefts and hacking.
Cold wallets are hardware wallets. They need to be purchased from a store and offer a high level of security. But it is costly and may not be easy to use.
Q5. Does transferring crypto between wallets cost any fee?
It generally costs a small amount of money to transfer crypto from one wallet to another. There is a standard fee for transactions which may increase depending on the sum of crypto being transferred.
This fee generally goes to the bitcoin miners and may vary from wallet to wallet.
Here are my best picks among top crypto wallets in India:
