10 Best Crypto Wallets in India 2024

Cryptocurrency is a rapidly expanding sector, and many Indians are getting involved in this for investment purposes. To store and trade Bitcoin and other cryptocurrencies, you’ll need a crypto wallet. Today’s wallets for cryptocurrencies are packed with features that make cryptocurrency trading easier.

However, with so many alternatives, choosing the best option might be tough. This article will tell you everything about crypto wallet India, how it works and the top safest crypto wallets in India.

What Is a Crypto Wallet?

Crypto wallet is a software program or physical device that stores your cryptocurrency and allows you to send and receive transactions. Private keys and public keys are the two key pairs that make up a crypto wallet.

Private keys are typically stated as a string of alphanumeric characters for ease of use. It’s comparable to a bank account, with the exception that it’s controlled by a key that only you have access to. You utilize this private key to start transactions, which is known as “assigning”.

The public key is paired with the private key and gives a signal for receiving cryptocurrency transactions.

What is a Blockchain Wallet?

A blockchain wallet is a cryptocurrency wallet, allowing people to manage Bitcoin, Ethereum and other cryptocurrencies. It simplifies transactions and ensures their security with cryptography signing. You can access Bitcoin wallet from any online device with utmost security. A blockchain wallet ensures safe fund transfer.

Suggested Read: What is Cryptocurrency? Cryptocurrency Guide For Beginners

Types of Cryptocurrency Wallets

Popular types of crypto wallets in India are: Desktop wallets, hardware wallets, web wallets & mobile wallets.

• Desktop Wallets: Keep your private keys on the hard drive of your local PC. They’re safer than mobile and online wallets. The only way you can lose a desktop wallet is if someone hacks your computer when it is connected to the internet.
• Mobile Wallet: Cryptocurrency mobile wallets are apps that may be downloaded from the Google Play or Apple Store. App wallets help make smaller payments or pay for everyday items using bitcoins. It provides the same level of security as your smartphone.
• Web Wallets: Your private keys are stored on a web Cryptocurrency wallet server. The web wallets are accessible through the internet and are hosted by third-party servers. The corporation that runs the servers and exchanges could shut down or get access to your private keys, which can be risky.
• Hardware Wallet: Hardware wallets are physical devices that are popularly termed as “cold wallets” or “cold storage wallets.” They look quite similar to a USB stick. This type of wallet for crypto stores your private key for managing your cryptocurrency on a blockchain. Also, one of the safest options to store cryptocurrency because they’re not connected to the internet. Without this gadget, a hacker halfway over the world will be unable to access your crypto.

10 Best CryptoCurrency Wallet Apps in India

1. Binance

Rating: 3.9 | Supported Cryptocurrency: 500+ | Staking Support: Yes

Binance Wallet is one of the most well-known cryptocurrency exchanges. It provides a safe environment for trading over 250 cryptocurrencies. This web wallet has an API that you can use to link it with your current trading software.

Binance

4.6

Starting Price

Price on Request

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Binance Features

Binance Pros and Cons

Binance Fee Type Structure

2. WazirX

Rating: 4 | Supported Cryptocurrency: 300+ | Staking Support: Yes

WazirX Multi-Cryptocurrency Wallet is considered as one of the best crypto wallets in India. Since it was launched, it achieved rapid and massive popularity among users. To prevent identity theft and ensure secure transactions, it uses two-factor authentication or OTP-based authentication.

WazirX Features

WazirX Pros and Cons

WazirX Fee Type Structure

3. Ledger Nano

Rating: 4.4 | Supported Cryptocurrency: 5500+ | Staking Support: Yes

Ledger is a trusted hardware wallet brand in India. Ledger Nano X builds provides add-on features to Nano S and includes a built-in battery with better asset management and bluetooth connectivity. Also, best crypto wallet in India without KYC required.

Ledger Nano Features

Ledger Nano Pros and Cons

Ledger Nano Fee Type Structure

Suggested Read: Best Crypto Payment Gateway in India to Accept Bitcoin

4. Coinbase Bitcoin Wallet

Rating: 4.4 | Supported Cryptocurrency: 5500+ | Staking Support: Yes

Coinbase Wallet is a digital asset wallet that protects your bitcoins, digital collectables, and other digital assets. The wallet supports many currencies and is completely insured, which is unusual in the bitcoin sector.

It allows you to keep your money in a secure location, and two-factor authentication assures that any user who logs into your account is legitimate.

Coinbase

4.4

Starting Price

Price on Request

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Coinbase Bitcoin Wallet Features

Coinbase Pros and Cons

Coinbase Fee Type Structure

5. ZenGo

Rating: 4.6 | Supported Cryptocurrency: 13+ | Staking Support: Yes

ZenGo Wallet is a non-custodial mobile cryptocurrency wallet. It considers threshold signatures over private keys. This wallet for crypto generates mathematical secret shares on your phone and your servers.

ZenGo

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ZenGo Features

ZenGo Pros and Cons

ZenGo Specification

6. CoinDCX

CoinDCX is considered India’s safest cryptocurrency exchange, with a mission to make cryptocurrency more accessible. It provides retail, HNI, and enterprise customers with crypto-based financial product investing and trading solutions.

CoinDCX

4.5

Starting Price

Price on Request

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CoinDCX Features

ConDCX Pros and Cons

CoinDCX Fee Type Structure

Suggested Read: Best Cryptocurrency Exchange Software Companies for Crypto Trading

7. BuyUcoin

Rating: 4.3 | Supported Cryptocurrency: 40+ | Staking Support: Yes

BuyUcoin is one of India’s most popular cryptocurrency wallets. With Light and Dark Mode, you can access all of your portfolios in one spot. Your crypto coins are stored in a secure offline wallet that is immune to hacking threats.

Encryption and hashing are among the most appreciated features of BuyU , along with the salting method, which prohibits fraud. The crypto exchange’s data is stored, decrypted, and transmitted on a separate hosting infrastructure.

BuyUcoin Features

BuyUcoin Pros and Cons

BuyUcoin Specification

8. ZebPay

Rating: 4.1 | Supported Cryptocurrency: 35+ | Staking Support: Yes

ZebPay is a cryptocurrency exchange with a simple UI and comprehensive crypto trading tools. Users can use Bitcoin to make payments. You can also use this cryptocurrency wallet to establish trading alerts, trade pairings, and buy a variety of cryptocurrencies.

ZebPay Features

ZebPay Pros and Cons

ZebPay Fee Type Structure

9. Unocoin Bitcoin Wallet

Rating: 4 | Supported Cryptocurrency: 85+ | Staking Support: Yes

Unocoin is a bitcoin processor based in India that allows consumers to buy, sell, store, and receive bitcoins. It is considered as India’s most secure location for exchanging crypto assets. The wallet allows you to trade a range of digital assets in a secure network.

Unicoin Bitcoin Wallet Features

Unocoin Pros and Cons

Unicoin Fee Type Structure

10. Guarda Wallet

Rating: 4.6 | Supported Cryptocurrency: 400k+ | Staking Support: Yes

Guarda is a multi-platform, custody-free cryptocurrency wallet with a user-friendly interface for storing, managing, buying, exchanging, and staking cryptocurrencies. Guarda now supports over 50 major blockchains and tens of thousands of coins.

Features of Guarda Wallet

Guarda Pros and Cons

Guarda Fee Type Structure

How to Set Up a Crypto Wallet?

You have to share your personal information and generate a security password for creating a hosted crypto wallet. With a two-step verification process, you can securely create your cryptocurrency wallet.

Non-custody wallets for cryptocurrencies are often paired to an app that helps manage the private key. Without the private key, you cannot access your cryptos.

With a hardware wallet, you must download the compatible software from the official website to set up the wallet.

How Does Crypto Wallet Work?

Wallet for cryptocurrencies are available in the form of software and hardware. Both these types of crypto wallets ensure a secure access to your cryptocurrency.

A wallet for cryptocurrencies doesn’t store any bitcoin, but the public and private key details to complete crypto transactions successfully. The coin is kept on a blockchain. It is a form of digital record that streamlines the operation of numerous decentralized cryptocurrencies.

Benefits of Using a Crypto Wallet 

Crypto wallets offer a secure alternative to storing your cryptocurrency on exchanges. By holding your private keys, you gain greater control over your funds and reduce the risk of exchange hacks.

Also, allow for more freedom in sending, receiving, & potentially earning interest on your crypto. Here are some other benefits of using a wallet for cryptocurrencies for you:

• Security: Cryptocurrency wallet in India use advanced encryption techniques to securely store your digital assets. Private keys are generated and stored locally, giving you control over your funds and protecting them from online threats. 
• Accessibility: With a safest crypto wallet, you can access and manage your digital assets anytime and anywhere as long as you have an internet connection. This allows for convenient transactions and monitoring of your cryptocurrency holdings. 
• Ownership and Control: Enable users to have full ownership and control over their digital assets. Unlike traditional financial systems, cryptocurrencies are decentralized, meaning no central authority controls or restricts access to your funds. 
• Privacy: Cryptocurrency app wallets offer varying levels of privacy depending on the type of wallet used. Some provide enhanced privacy features like stealth addresses or coin mixing, which help protect your identity and transaction history. 
• Diverse Transactions: Crypto wallets support various types of transactions beyond simply sending and receiving funds. You can engage in activities like staking, lending/borrowing, decentralized exchange trading, participating in token sales (ICOs), or earning passive income through DeFi protocols. 
• Portfolio Management: Many crypto wallets provide portfolio tracking features that allow you to monitor the value of your holdings in real-time across different cryptocurrencies and tokens. 
• Cross-Border Transactions: Enable fast & low-cost cross-border transactions without relying on mediators like banks or remittance services. 
• Opportunity for Investment: Opens opportunities for investing in different cryptocurrencies and participating in the growth of digital asset ecosystem. 

Disadvantages of Using Crypto Wallets in India 

Bitcoin wallets offer many advantages, such as providing control over your funds, security features, and easy access to the Bitcoin network. However, they also come with some disadvantages: 

• Illegality Issues: Because cryptocurrency transactions are extremely private and secure, it is difficult for authorities to track individuals through their wallet address or monitor their data. Bitcoin has frequently been utilized in illegal activities, like buying drugs on the dark web, making it one of the major drawbacks of cryptocurrency. 
• Potential Ban: There have been discussions of banning or heavily regulating cryptocurrencies in India. If such a ban were to be enforced, it could render crypto wallets useless and potentially result in loss of funds. 
• Lack of Consumer Protection: Unlike traditional banking systems, cryptocurrency transactions are often irreversible. If you encounter any fraudulent activities or technical issues with your crypto wallet, no consumer protection mechanism is available currently in India. 
• Limited Acceptance: Although the acceptance of cryptocurrencies is growing globally, it remains relatively limited within India. Finding merchants or service providers who accept cryptocurrencies as payment may be challenging, making it difficult to utilize your funds effectively. 
• A Few Hold All the Power: Despite the decentralized nature of cryptocurrencies, developers and selected organizations still have control over the market flow and supply of certain currencies. These crypto holders can easily manipulate the coin, leading to significant price fluctuations. Even widely traded coins like Bitcoin, which experienced a value increase of over 100%, are vulnerable to these tactics. 

Different Types of Crypto Exchanges

There are three main types of cryptocurrency exchanges, each with its own advantages and disadvantages such Centralized Exchanges, Decentralized Exchanges, Hybrid Exchanges, etc. Look at each of them in detail below:

• Centralized Exchanges (CEX): This is one of the most common types of cryptocurrency exchanges where the company offers a platform for you to trade cryptocurrencies. It acts as a middleman between buyers and sellers for trading purposes. Examples include Binance, Coinbase, Kraken, etc.
• Decentralized Exchanges (DEXs): DEXs operate on a peer-to-peer (P2P) network, eliminating the need for a central intermediary. Users directly trade cryptocurrencies with each other using smart contracts on a blockchain network. Examples include Uniswap, SushiSwap, PancakeSwap, etc.
• Hybrid Exchanges: Hybrid exchanges attempt to combine the benefits of CEXs and DEXs. They offer a user-friendly interface like a CEX, but transactions might be settled on a decentralized blockchain network for improved security. Examples include Qurrex and Nash.
• Derivatives Exchanges: These exchanges let you trade contracts that derive value from the performance of an underlying asset instead of trading the asset itself. They generally support margin trading and futures contracts. Some examples include BitMEX and Bybit.

How We Selected the Best Cryptocurrency Wallet in India

There are many cryptocurrency wallets available online. So, we’d like to share our approach to selecting the best crypto wallet in India for you.

• Defining Our Criteria: Our journey began with a clear understanding of your needs, for the best Indian crypto wallet app. We wanted to pinpoint key features, as well as address common concerns faced by crypto enthusiasts. To achieve this, we reached out to experts & gathered insights from the wider community.
• Researching the Options: We scoured the web, checked reviews, and considered user feedback. Some of the standout names that emerged included Binance, Coinbase, Ledger Nano, and WazirX, among others.
• Creating a Refined List: Recognizing that you don’t have time to evaluate every wallet out there, we distilled our findings into a shortlist of options that aligned closely with your needs.
• In-Depth Evaluation: We took each wallet on our shortlist for a test drive, and assessed features and functionalities. We aimed to ensure that the wallets we recommend are not only secure but also user-friendly and caters to various preferences and needs.
• User Experience Matters: We understand that simplicity is the key when it comes to managing your cryptocurrencies. To determine the user-friendliness of each wallet, we enlisted a group of cryptocurrency enthusiasts to put them through their paces. Their valuable feedback helped us gauge how intuitive and accessible each wallet truly is.
• Community and Support: Lastly, we explored the strength of each cryptocurrency wallet community and its support resources. We checked for active forums, documentation, and responsiveness from their support teams.

By following this rigorous selection process, we wanted to provide you with the best options for your cryptocurrency wallet needs in India.

Conclusion

The wallets mentioned in this article offer a wide range of features and security measures that cater to different needs and preferences. From user-friendly interfaces to robust encryption protocols, these wallets ensure the safety of your digital assets.

Whether you are a beginner or an experienced investor, there is a wallet on this list that will suit your requirements. So go ahead, explore these options, and start managing your crypto investments with confidence.

Crypto Wallet FAQs