Top Crypto Wallet in India 2022
What is Cryptocurrency?
Cryptocurrency is a growing market, and many people in India are getting involved. You need a crypto wallet to store and trade Bitcoin as well as altcoins.
Most crypto wallets these days are loaded with features that enhance the process of trading cryptocurrency.
The top bitcoin wallets in India usually have two-factor authentication to keep them secure. But with so many options available, it is very difficult to select one.
Following is a handpicked list of Top Crypto Wallet in India, with their popular features and website links. The list contains both open source (free) and commercial (paid) software.
You will require crypto wallets if you:
a) Want to store your bitcoins and other cryptos safe from hackers
b) Want to send coins or tokens to someone
c) Want to receive cryptos from a friend
d) Shop at companies that accept cryptocurrency
Crypto wallets are similar to the payment wallets like Paytm and Phone Pay that help you to make quick online payments without worrying about the change.
Crypto wallets safe-keep your crypto tokens (coins) and come with a set of public and private keys (explained below) that gives you full control over your crypto assets.
A Crypto wallet is different from having a cryptocurrency exchange account.
Crypto exchanges have risk of getting shut down or getting hacked, theft, frauds and mismanagement. You may lose your coins.
It’s better to store your coins in a crypto wallet rather than keeping in the exchange.
Following are the top Bitcoin Crypto Wallet in India:
Top Crypto Wallet in India 2022
1) Binance
2) Coinbase
3) WazirX
4) BuyUcoin
5) Zebpay
6) Ledger
1. Binance
Binance: This is one of the widely popular crypto trading exchanges. It offers a secure platform for trading more than 250+ cryptocurrencies. This web wallet offers an API that helps you to integrate your current trading application.
Features:
a) It provides both basic and advanced exchange interfaces for crypto trading.
b) It is one of the best cryptocurrency wallets in India that provides 24/7 support
c) Binance offers secure storage of your digital assets.
d) Supported platforms: Web, iOS, and Android.
Key Statistics:
Type: Desktop wallet
Cryptocurrency Supported: BTC, ETH, BTG, DASH, XRP, ADA, NEO, TRX, etc.
Deposit Fees: Free
Withdrawal fees: Depends upon the type of cryptocurrency.
Payment Methods: Cryptocurrency, Credit and Debit Card, Koinal, etc.
KYC: Required
2) Coinbase
Coinbase: This is a cryptocurrency exchange that also offers a wallet facility. You get a mobile-based wallet to store and use your cryptocurrencies. Coinbase bitcoin wallet works on decentralized blockchain technology.
Features:
a) The app has a secure enclave that uses biometric authentication technology to keep your private keys safe.
b) Decentralized from the Coinbase exchange.
c) Secure Element Technology to protect keys.
Key Statistics:
Type: Mobile Wallets
Cryptocurrency Supported: BTC, LTC, XRP, TRX, ADA, DASH, NEO, etc.
Deposit Fees: 0.00% and 0.50%
Withdrawal fees: Taker and will pay a fee between 0.04% and 0.50
Payment Methods: Bank transfer (ACH), credit card, debit card, Bank transfer, and Wire transfer.
KYC: Not required.
3) WazirX
WazirX is one of the best bitcoin wallets in India that allows you to buy, sell & trade digital currencies like Bitcoin, Ethereum, Ripple, Litecoin with complete ease. This one of the best crypto wallet in India provides a seamless and powerful trading experience across all platforms.
Features:
a) Identity verification systems process your KYC within a few hours of signing up.
b) This one of the best crypto wallets in India offers P2P trading with no crypto trading fees.
c) This digital currency wallet can handle Millions of transactions in a few seconds.
d) Supported platforms: Android, Google Play, iOS, Windows, and Mac.
Key Statistics:
Type: Desktop Wallets
Cryptocurrency Supported: Bitcoin, Ripple, Ethereum, Tron, Zilliqa, and 100+ other cryptocurrencies.
Deposit Fees: WazirX does not charge any deposit fee
Withdrawal fees: 0.0005 BTC per BTC withdrawal and no INR withdrawal fee.
Payment Methods: Bank Transfer, NEFT & RTGS, IMPS, and UPI.
KYC: Required
4) BuyUcoin
BuyUcoin: This is one of the best Crypto currency wallets in India. It allows you to access all your Portfolio in one place with Light and Dark Mode. It allows easy Deposit Crypto or INR into Your Digital Wallet.
Features:
a) You can complete Your KYC in a minute and start trading
b) Invite Your Friends to earn free Bitcoin for a lifetime
c) BuyUcoin has an excellent affiliate and referral program where you can earn up to 50% crypto trading commission
d) You can easily Deposit Crypto or INR into Your Digital Wallet
e) Supported platforms: Web, iOS, and Android
Key Statistics:
Type: Exchange wallets
Cryptocurrency Supported: BTC, ETH, BNB, TETHER, SOLANA, ADA, XRP, DOT, DOGE, LTC, SHIB, etc.
Deposit Fees: 2% deposit fees
Withdrawal fees: Withdrawal fees vary depending upon which crypto coin you are withdrawing
Payment Methods: BHIM UPI, Bank Transfer, Netbanking, etc.
KYC: Required
5) Zebpay
ZebPay: This is a crypto exchange that offers a clean interface that still offers advanced crypto trading features. Users can make payments on Bitcoin. This crypto currency wallet allows you to set trading alerts, trade pairs, and purchase a range of cryptocurrencies.
Features:
a) Provide the highest measures of security so that you can trade cryptos stress-free.
b) It offers a simple Zebpay app & wallet facility.
c) This mobile app offers lightning-fast payments.
d) 98% of cryptos stored with ZebPay are in cold wallets.
e) It enables a world-class multi-chain security system.
f) Proprietary Omnitrixx security.
g) Coins stored in zebpay cannot be breached or accessed from a single geographic location.
h) Supported platforms: Windows, Android, and iOS.
Key Statistics:
Type: Exchange Wallets
Cryptocurrency Supported: BTC, BCH, LTC, XRP, ETH, TRX, ZRX, ADA, XLM, DAI, DOGE, ACH, SHIB, etc.
Deposit Fees: 1) Rs. 10 – using net banking 2) Rs. 25- using UPI 30 Rs. 7 – through bank transfer
Withdrawal fees: There is a flat ₹10 fee for all fiat withdrawals. 0.0006 BTC for Bitcoin withdrawal.
Payment Methods: Net banking, UPI, and direct bank transfer.
KYC: Required
6) Ledger
Ledger: This is a hardware wallet that lets you store bitcoins. It is a USB stick-type wallet with secure chips. This is one of the crypto wallets in India that enables you to secure and manage all your crypto assets.
Features:
a) Ledger Hardware wallets come with a certified secure chip and custom OS for maximum security.
b) It provides a larger screen for ease of use.
c) This cold wallet allows you to manage over 1,800 crypto coins and tokens with the Ledger Live app.
d) It allows you to use public and private keys.
e) Secure chip and custom OS.
f) Supported platforms: Windows, Mac, and Linux.
Key Statistics:
Type: Hardware Wallet
Cryptocurrency Supported: Bitcoin, Binance Coin, Cardano DASH, Dogecoin, EOS., and Ethereum.
Fees: No fees. You only need to pay for a cold wallet which ranges between Rs. 10,000 to Rs. 12,999.
Payment Methods: Credit Card, PayPal, crypto.com Pay, and BitPay.
KYC: Not require
Advantages/Pros/Benefits of using Bitcoin Wallet
The following are pros/benefits of using Bitcoin Wallet:
1. You can send and receive money with anyone in the world without using a bank.
2. Lower transaction fees.
3. It is difficult to track transactions.
4. Easy to transfer across borders.
5. This one of the best bitcoin wallets is more secure than a bank account, and you can also store your money.
6. You can have multiple crypto currency wallets, so if one gets hacked or lost, you don’t lose all your money.
Types of Crypto Currency Wallets
The following are some important types of Crypto Currency Wallets:
Hot wallets: These wallets use created or stored on a connected device. Hot wallets offer high utility, but they are considered less secure than cold wallets.
Cold wallets: These crypto wallets use keys created on a device that is not connected to the Internet. They are also known as hardware wallets. These crypto wallets are stored on physical devices.
Hosted wallets: These wallets are live on another server which you do not have control. Hackers use these kinds of crypto wallets as they hold the data of all the funds from the wallets on the server. These kinds of wallets offer various levels of protection as third parties insure hosted wallets.
Decentralized wallets: You are the only person who holds the keys to your crypto wallet in a decentralized wallet. A decentralized wallet never provides any guarantee of complete privacy.
However, it also means you just can’t rely on a 3rd party to send, receive, or store your cryptocurrency. This also helps you to ease some security risks associated with hosted wallets.
Hardware Wallets: Hardware wallets are physical storage devices (like a USB drive). The Ledger Trezor, Nano X, Nano S, and KeepKey are famous names in hardware wallets. They are considered highly secure types of wallets.
Software Wallets: Software wallets are also known as hot wallets. This online crypto trading platform doesn’t need downloading and can be accessed through an Internet browser.
Exchange Wallets: These kinds of Wallets are integrated with crypto exchanges. You can easily trade and do transactions with these wallets. WazirX, Zebpay, Unocoin are some popular web wallets in India.
Mobile Wallets: These wallets are supported on Mobile OS like Android and iOS. In this type of bitcoin wallet, the user gets control of the private keys. You can trade anywhere using these wallets. Coinbase and Binance are widely popular mobile wallets.
Desktop Wallets: Wallets that run on Desktop devices.It allows users to have private keys.Atomic Wallet, Wazir X, Zebpay, Prokey have applications supported in a desktop environment.
Harmless wallet for cryptocurrency in India
It depends on your risk tolerance capacity and your specific needs. The most secure wallet for most people is a hardware wallet like the Ledger Nano S, Nano X. However, they are more expensive than a paper wallet. It’s best to spread your investments across 2 or 3 wallet types.
How to cash out of Bitcoin in India
The follow are some of the best ways of cashing out Bitcoin:
1. Using a Cryptocurrency Exchange: A crypto exchange is just another name for a third-party broker. Some cryptocurrency exchanges like Coinbase and Binance allow you to deposit funds using fiat currency.
2. Peer-to-Peer Exchange: P2P crypto trading sites like LocalCrypto and LocalBitcoins allows you to buy and sell Bitcoin or any other digital currency using your local fiat currency.
3. Bitcoin debit cards: Many websites allow you to cash out your Bitcoin through a prepaid debit card. You can use this Bitcoin debit card powered by Mastercard or Visa.
4. Bitcoin ATMs: Bitcoin ATMs allow you to scan QR codes and then sell your Bitcoin for cash. These ATMs are located across the world.
