These Are The 7 Best Cryptocurrency Wallets in India 2021
🔍Insights
Cryptocurrency wallets are software that can be used to view cryptocurrency balances and make transactions. Digital wallets expedite the rates of cryptocurrency transactions by facilitating the sending, receiving, and storing of cryptocurrency. Most wallets these days are loaded with features that enhance the process of trading cryptocurrency. The top bitcoin wallets in India usually have a two factor authentication to keep it secure. Â
Having a cryptocurrency wallet in India is essential because it allows you to move funds as per your will and offers you the desired level of security. Some wallets even provide you with the convenience of trading multiple cryptocurrencies at once. Here are the few of the best app to buy cryptocurrency in India.
What is a Cryptocurrency Wallet?
How do Cryptocurrency Wallets work?
How to pick out the best bitcoin wallet in India
Types of Cryptocurrency Wallets
WazirX
Zebpay
Coinbase Bitcoin Wallet
Trezor Wallet
Binance Wallet
Exodus Bitcoin Wallet
Alan Joseph
What is a Cryptocurrency Wallet?
A cryptocurrency wallet is an app that allows cryptocurrency users to store and retrieve their digital assets. They are basically apps just like those you might run on a smartphone or computer. As with conventional currency, you don’t need a wallet to spend your cash, but it certainly helps to keep it all in one place. When a user acquires cryptocurrency, such as bitcoins, she can store it in a cryptocurrency wallet and from there use it to make transactions.
Bitcoin is the most popular and widely used cryptocurrency, but others building upon its blockchain technology have emerged, and any of them can be stored on a cryptocurrency wallet. Indian Bitcoin Wallets can hold multiple cryptocurrencies. The most easiest and basic way to buy bitcoin in India is by using the Bitcoin wallets in India and the users that are interested in bitcoin are asking questions on which one is the best cryptocurrency exchange in India and the best bitcoin wallets in India.
How do Cryptocurrency Wallets work?
When you want to acquire cryptocurrency, whether by purchasing it in currency exchange or receiving it as a gift or as revenue, you direct the sender to a unique cryptographic address issued by the wallet. Each wallet type is a little bit different, but in general, any given wallet will work with one or more cryptocurrencies and will be able to store one or more cryptocurrency-specific public addresses.
Public addresses are like cryptocurrency-specific account numbers, they can be used to receive a specific type of cryptocurrency (for example, to receive Bitcoin, you need a Bitcoin address) and can be shared publicly. Spending with the wallet is as simple as scanning a retailer’s QR code or directing a specific amount of bitcoins to the retailer’s public address. Here are some of best app wallet for cryptocurrency:
Aanchal Padmavat
How to pick out the best bitcoin wallet in India
There are several good bitcoin wallets in the market today and it’s up to the users to decide which features they want.
- How secure and trustworthy the wallet is – The user can double check the wallet on bitcoin forums and check for its reviews. Some wallets offer two factor authentication like the mobile OTP and fingerprint/pin code for secure transactions.
- Multi-signature – Check whether or not the wallet has the option of multisign in addition to a safe platform. This will help protect your bitcoin from theft and attackers.
- Does it have transparency - the crypto wallet’s provider must provide transparency and clear identity and a code open source.
- Price and charge for holding cryptocurrency – There many alternative wallets that are free on mobile and desktop which allow its users to download and start using them without charging anything.
- User interface – The wallet must be easy to use especially for a beginner.
Types of Cryptocurrency Wallets
There are several types of wallets you can use including online, offline, mobile, hardware, desktop, and paper:
1) Mobile Wallets
2) Hardware Wallets
3) Web Wallets
4) Desktop Wallets
Each type refers to what type of medium the wallet is stored on, who is in control of the wallet, and whether or not the data is stored online.
Avantika Bhardwaj
Best Cryptocurrency Wallets in India
Based on the above types, the following are the best cryptocurrency wallets app in India 2021.
WazirX
WazirX is one of the best cryptocurrency wallets in India and also the fastest growing cryptocurrency exchange in the country as it as over 900,000 users. It is also known as the most secure and safest wallet for cryptocurrency as it allows its users to buy and sell Bitcoin, Ripple, Ethereum, Tron, Zilliqa and 100 other top cryptocurrencies.
WazirX is India’s largest online cryptocurrency trading portal that can process millions of transactions at the same time. For security, the platform uses two factor authentication such as Google authenticator and the mobile OTP based authentication. WazirX has partnered with Binance which is the world largest crypto exchange.
Zebpay
Zebpay was India’s first Bitcoin trading portal, and is currently one of the best cryptocurrency exchange in India 2021. This multi-cryptocurrency exchange platform is available in over 162 countries and offers a quick KYC verification and a cryptocurrency trading portal for exchange.
Zebpay is also very trustworthy as it is designed to keep your cryptocurrency secure as 98% of coins is stored in cold wallets, robust internal controls and fingerprint/pin code for outgoing transactions. Despite being the best bitcoin wallet in India 2021 as it allows its users to transfer your crypto coins to other exchanges or your own wallet.
PV Vyshnavi
Coinbase Bitcoin Wallet
Coinbase is an online cryptocurrency exchange in India that comes under the category of mobile wallets. You can buy and sell bitcoin, Ethereum, Litecoin using Coinbase. Coinbase also offers a mobile wallet facility. You can store and perform transactions using the Coinbase wallet. You can download Coinbase from Google Play and Apple Store.
The features of Coinbase bitcoin wallet include:
- Friendly & Easy to use Interface
- Backup private keys to the cloud to avoid the loss
- Secure User-Controlled Crypto Wallet using biometric authentication
- Store all cryptocurrency at a single place – Multi-coin support
- Secure User-Controlled Crypto Wallet using biometric authentication
Trezor Wallet
Trezor is a pioneer and the best hardware wallet for cryptocurrency in India. Trezor provides a portable USB device that can be connected to your computer. It offers a high level of security, and can also function seamlessly on a malware-infected computer. It supports a wide variety of cryptocurrencies which include Bitcoin, Ethereum, Litecoin, Ethereum Classic, ZCash, Dash, and Bitcoin Testnet.
This cryptocurrency hardware wallet is one of the most secure wallets as hacking into it is virtually impossible without having access to the physical device. It also offers one of the best user interfaces which provides unparalleled convenience. Although there are various advantages to using Trezor, users are often bothered by the meager number of cryptocurrencies that you can access through Trezor. Overall, Trezor is a great wallet that can prove to be very fruitful for its users. In India, you can get a Trezor T Model in the range of Rs. 12,500 to Rs. 14,000.
Yash Gupta
Binance Wallet
Binance is the top cryptocurrency exchange wallets, as it allows users to be assured of getting a high amount of security and amazing customer service providers. Binance gives you the option of creating your wallet when you sign up for their services. The entire process of onboarding is quite smooth and the user interface is lucid and easy to understand.
Although Binance can be a good option, one of the downsides of using Binance is that it does not allow any fiat dealing. Since Binance offers its services at a high speed, it does a commendable job at a fast pace, which makes it one of the best in the business.
Exodus Bitcoin Wallet
Exodus is a desktop-based bitcoin wallet that can be used to store your private keys on any of the Windows, Mac and Linux PC’s hardware. To use this cryptocurrency wallet app, you need to download and install the application to use this wallet. Its main features include:
- Use of QR code address for sending and receiving bitcoin
- Support to 100+ Cryptocurrencies
- See overall portfolio on screen
- Built-in exchange
Jaxx
Jaxx is one of the best crypto wallets in India that offer cross-platform support. It can function across all your devices and allows you to sync your mobile, computer, and other devices. Currently, Jaxx provides support for seven different kinds of cryptocurrency assets. Nine different platforms support Jaxx, which includes Windows, Apple, Linux, Android, iOS, as well as, Chrome, and Firefox.
It can be downloaded for free and charges a transaction fee for the trades that you carry out through your wallet. It is integrated with the exchange platform, ShapeShift, which further allows you to trade various cryptocurrencies. Jaxx has been lacking a few security features like the lack of two-factor, which raises a few questions. Setting aside this fact, Jaxx allows a high level of compatibility and seamless integration among various platforms.
Chayanika Goswami
Conclusion
These top bitcoin wallets in India come in the different form such as a device, an app and even a website and are all known for different things. Each and every cryptocurrency wallet has its own unique wallet address that is used to initiate transactions and exchange of currencies and is up to the user/customers to choose what best for them.
Frequently Asked Questions
What is the best app to buy cryptocurrency in India?
The best Cryptocurrency wallet in India is WazirX.
What are the best bitcoin wallets in India in 2021?
The best bitcoin wallet for India are WazirX, Zebpay, Jaxx, Exodus, B
Can you buy cryptocurrency in India?
Cryptocurrencies are not illegal in India, but they are also not regulated. Which means that people can buy and sell Bitcoin and hold it as an investment but there is no governing body that will look after it.
What is the safest cryptocurrency?
Bitcoin is the safest cryptocurrency in India.
What is a bitcoin wallets?
A Bitcoin wallet is a software application that allows customers to store and track their Bitcoins.
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