zerodha

10 Best Bitcoin Wallet in India 2022 (Safest)

The bitcoin wallet is like an online bank account where you keep all your bitcoins safe. 

You can receive bitcoins and other cryptocurrencies in your wallet and store them safely. The wallet makes it possible for you to spend (send them to others) bitcoins easily.

Bitcoin wallet comes in the form of a device (hardware), an app, or a website. Let’s first check different types of bitcoin wallet before moving to the list of best bitcoin wallet in India in 2022

Types of Bitcoin Wallet in India

#1. Bitcoin Mobile Wallet

Mobile bitcoin wallets are in the form of apps that can be downloaded from Google Play or the Apple Store. App wallets are convenient for making small payments or using bitcoins to pay for purchases made on a daily basis.

Mobile wallets are as secure as your smartphone security. If someone gains access to your mobile by hacking then you may lose control of your wallet. 

#2. Web Bitcoin Wallets

Web bitcoin wallets store your private keys on their servers. Crypto exchanges offering accounts or wallets are a type of web wallets where you store your bitcoins on their servers.

The web wallets are online and are with third-party servers.

The risk you have is that – the organization running the servers and exchanges might shut down or they could gain access to your private keys.

#3. Desktop Bitcoin Wallets

Desktop wallets store your private keys in your local PC’s hard drive. They are more secure than mobile and web wallets. 

The only chance of losing – is when someone hacks your PC when you are connected to the internet. 

#4. Hardware Bitcoin Wallet

Hardware wallets are the most secure way of storing your bitcoins. The hardware wallets are in the form of external devices like USB sticks where the private keys are stored.

Hardware wallets are immune to computer viruses and do not allow fund transfer using plain text. Most of them need to press buttons to confirm transactions.

In India, cryptocurrency exchange also provide bitcoin wallet service. Let’s understand the difference between the both

Difference Between Cryptocurrency Exchange & Crypto Wallet

A Cryptocurrency exchange works like a stockbroker that lets you convert real money like INR to cryptocurrency. For example, on WazirX you deposit INR, buy cryptocurrency converting INR, and then sell cryptocurrency to convert into INR.

As I explained above, crypto wallets helps you to store and retrieve your cryptocurrency.

Here is the list of 7 Best Cryptocurrency Exchanges in India 2022

  1. WazirX
  2. Zebpay
  3. Coinbase
  4. Unocoin
  5. Trust Wallet
  6. Guarda
  7. BuyU

All the above cryptocurrency exchange offers wallets to store your cryptocurrency.

Let’s review our list of 11 best bitcoin wallets in India 2022

Best Bitcoin Wallet in India 2022

#1. WazirX Multi-Cryptocurrency Wallet Review

WazirX Multi-Cryptocurrency Wallet

WazirX, a crypto exchange based in India, also provides a wallet facility. You have a web or a mobile-based crypto wallet attached to the WazirX exchange.

WazirX has partnered with Binance (the world’s largest crypto exchange).

You have to open a WazirX account to use the wallet. You can trade-in over 200 pairs on Wazirx and store all the cryptocurrencies in the wallet. 

You can use the wallet to trade on the WazirX exchange and do P2P (buy/sell directly) transactions.

For security, WazirX uses a two-factor authentication like Google authenticator or mobile OTP based authentication. 

Fees

WazirX does not charge any deposit fee but withdrawals are subject to fees (depending on the cryptocurrency) and minimum & maximum withdrawal amounts.

What I like

  • Option to have both web and mobile wallets
  • Directly trade on the WazirX exchange
  • 200+ trading pairs

What I didn’t like

  • Withdrawals are subject to fees 
  • Limit on the minimum and maximum withdrawal amount

#2. Zebpay Multi-Cryptocurrency Wallet Review

Zebpay Multi-Cryptocurrency Wallet

Zebpay is a multi-cryptocurrency exchange that offers the facility of crypto wallets. Zebpay is back in operation following the brief closure enforced under the RBI advisory related to cryptocurrency.

Zebpay stores your cryptocurrencies in a secured pool and not in individual wallets with a private key. Zebpay allows you to transfer your crypto coins to other exchanges or your own wallet.

For security, Zebpay stores all your crypto assets in cold wallets signed using HSM (hardware security). They also have proprietary security protocol Omnitrixx to protect all transactions. 

Zebpay supports eight cryptocurrencies storing and trading in several currency pairs.  

Fees

Presently, Zebpay charges Rs. 0 if you trade. But if you do not trade then you need to pay a monthly wallet fee of 0.0001 BTC for maintaining wallet.

The crypto deposit and withdrawal fees are charges separately.

What I like

  • INR deposits accepted
  • Wallet linked to Zebpay crypto exchange
  • Proprietary Omnitrixx security 

What I didn’t like

  • Pooled crypto storage
  • Presently, supports only eight cryptocurrencies

#3. Coinbase Bitcoin Wallet Review

Coinbase Bitcoin Wallet

Coinbase is a cryptocurrency exchange with a wallet facility. You get a mobile-based wallet to store and use your bitcoins and other cryptocurrencies.

Coinbase app is decentralized from the crypto exchange and the wallet is held on your smartphones.

The app has a secure enclave (Secure Element Technology) that uses biometric authentication technology to keep your private keys safe.

Coinbase app can be downloaded from Google Play or Apple Store (depending on your mobile OS) without any cost. And can be used for transferring money or making payments instantly.

Fees

Free to install and use. You do not need a Coinbase account to use the wallet. 

But for any payment that you make using the wallet, Coinbase collects a miners fee. The fee is passed on by Coinbase to the cryptocurrency miner.

What I like

  • Easy download from the app store
  • Decentralized from the Coinbase exchange
  • Secure Element Technology to protect keys

What I didn’t like

  • Always connected to the internet
  • Requires latest OS 

#4. Unocoin Bitcoin Wallet Review

Unocoin Bitcoin Wallet

Unocoin bitcoin wallet is an app-based crypto wallet attached to your Unocoin account. Unocoin app is compatible with Android and iOS operating systems and supports 40 cryptocurrencies. 

The Unocoin app also has a lending (financing) facility for users to obtain loan in USDT.

The app is integrated with the merchant gateway service that allows online businesses to accept bitcoins. You can also use the Unocoin wallet to recharge your smartphones and DTH services. 

Fees

Unocoin does not charge any fees to store or receive bitcoins.

But, when you send bitcoin to a bitcoin address you need to pay a fee of 0.0005 to 0.0009 BTC (miners fee).

Unocoin does not charge you anything when you send bitcoin to an email-id of a Unocoin user.

What I like

  • Systematic bitcoin buying option
  • Integrated merchant gateway for payments

What I didn’t like

  • Up to 0.0009 BTC fees for sending bitcoin to bitcoin address

#5. Ledger Nano X Bitcoin Wallet Review

Ledger Nano X Bitcoin Wallet

Ledger Nano X is a hardware wallet that lets you store bitcoins. Ledger Nano X is a USB stick type wallet with secure chips and compatible with Windows 8+, macOS 10.10+ and Linux operating systems.

Ledger Nano X comes with a certified secure chip and custom OS for maximum security.

You can also use Ledger Nano X with iOS (9+) and Android (7+) smartphones. The hardware wallet weighs just 34 grams and is made of stainless steel and plastic. 

Ledger Nano X helps you manage 24 coins and 1250+ ERC-20 tokens directly from your computer or smartphone.  

Ledger Nano X wallet is powered by a 100mAh battery and can be bought directly from the Ledger online store or from Amazon. 

Fees

Ledger Nano X is priced in the range of Rs. 10,000 to Rs. 12,999

What I like

  • 34 grams of weight
  • Secure chip and custom OS
  • Manage 24 coins and 1250+ ERC-20 tokens

What I didn’t like

  • You need to keep track of the USB
  • Needs to be powered
  • High price – upwards of Rs. 10,000

#6. Trezor Model T Bitcoin Wallet Review

Trezor Model T Bitcoin Wallet

Trezor is a hardware wallet to keep over 8 coins and 1000+ ERC-20 tokens safe in an offline environment.

Weighing 22 grams, the Trezor Model T wallet employs firmware signature verification along with a protected bootloader. An update security procedure so that you are sure that your wallet is totally safe. 

In case of failure of verification of invalid firmware signature, the wallet erases the device memory to protect from any potential threats. 

To add one more layer of safety, Trezor is packed in ultrasound hardware seals that cannot be restored after breakage. You need a USB connector to connect the wallet to your PC or mobile. 

The Trezor T has a full-color touchscreen with an intuitive interface. 

Fees

In India, you can get a Trezor T Model in the range of Rs. 14,999 to Rs. 18,999.

What I like

  • Extremely lightweight, just 22 grams
  • Ultrasound hardware seal
  • Protected by firmware verification 
  • Full-color touch screen

What I didn’t like

  • High price – upwards of Rs. 15,000

#7. Trust Bitcoin Wallet Review

Trust Bitcoin Wallet

Trust bitcoin is a mobile app-based wallet for storing bitcoins and other leading cryptocurrencies like Ethereum, Litecoin, Ripple and 40 other blockchains.

Trust wallet has joined hands with Binance (largest crypto exchange in the world) and now is an official cryptocurrency wallet of Binance. You get the comfort to trade directly using your wallet on the Binance exchange. 

Trust wallet protects your digital assets and your private keys with pin numbers and biometrics. You can use the Trust wallet to send and receive bitcoins via QR code. 

However, there are few reviews of delayed coin receipt. 

Fees

There are no charges for downloading and using the Trust Wallet app. But you need to pay a network transaction fee every time you send any cryptocurrency. 

What I like

  • Free to download and use
  • Facility to trade directly on Binance crypto exchange
  • Compatible with Android 6+ and iOS 13 or later
  • Use QR codes for sending and receiving money

What I didn’t like

  • Prone to mobile hacks

#8. Guarda Bitcoin Wallet Review

Guarda Bitcoin Wallet

Guarda Wallet gives you the option to have a web-based, desktop-based or mobile-based wallet for over 50 major blockchains and tokens. 

You can even have a Guarda Chrome extension for Ethereum that lets you have access to Ethereum based blockchain (Dapps) directly from your chrome browser.

Guarda wallet never stores your private keys or information (non-custodial). You own all your coins. So you need to be careful, if you lose your backup or password then your wallet will be lost. 

On Guarda, the public and private keys for bitcoin and other currencies are generated in your browser that you can use to send and receive bitcoins. Guarda uses encryption technology to secure transactions and private keys.

Fees

Guarda does not charge you for downloading and using the wallet. However, you may need to pay a network transaction fee for any transactions made. 

What I like

  • Option to choose web, mobile or desktop wallet
  • Inbuilt currency exchange
  • Compatible with Android, iOS, Windows, Mac and Chrome extension

What I didn’t like

  • Non-custodial wallet

#9. Cool Wallet S for Bitcoin Review

Cool Wallet S for Bitcoin

Cool Wallet S is a hardware cryptocurrency wallet that you can connect with Android 6 or iOS 9.1 and above smartphones using Bluetooth. 

The crypto wallet weighs 6 grams and is a credit-card sized with tactile buttons. Cool wallet S can be used for a long period because you get a standby life of 3 months on a single charge. 

The Cool Wallet S offers a secure element with 2+1 factor authentication and anti-tampering technology. Your private keys are stored in a chipset having military-grade security. 

Cool Wallet S supports 13 coins and all the ERC-20 tokens. 

Fees

You can get Cool Wallet S for a price in the range of Rs. 12,000 to 14,000.

What I like

  • Private keys stored in chipset with military-grade security
  • 3 months of standby life
  • Compatible with slightly older Android (6), iOS (9.1) versions

What I didn’t like

  • The high price (Rs. 12,000+) of owing the wallet
  • Supports only 13 coins

Best Multi-Cryptocurrency Wallet in India 2022

#10. BuyU Coin Multi-Cryptocurrency Wallet Review

BuyU Coin Multi-Cryptocurrency Wallet

BuyU Coin is a multi-cryptocurrency exchange operating in India since 2016. The wallet stores your crypto coins in a secure offline wallet that is safe from hacking attacks.

The BuyU Coin security measures include encryption and hashing, along with the salting algorithm that prevents any fraudulent login. Their storing, decrypting, and transmitting data runs on a separate hosting infrastructure than the crypto exchange. 

All the BuyU Coin wallet users need to go through the two-factor authentication for using the wallet. 

You need to open an account with BuyU Coin to use their crypto wallet. You can buy/sell and store 50+ digital currency on BuyU Coin.

Fees

The wallet creation is free. BuyU Coin does not charge any fee for cryptocurrency deposit or storage. But there are charges for withdrawal depending on the cryptocurrency that you want to withdraw.

What I like

  • Trade directly from the wallet
  • Separate hosting servers for exchange and wallet storage
  • 50+ digital currency support 

What I didn’t like

  • Withdrawal charges

How to Pick Best Bitcoin Wallet in India 

#1. Crypto Coin Support

All the wallets do not support multiple crypto coins and digital assets. Most of them let you store bitcoin, ethereum, ripple and litecoin. 

You need to check whether the wallet supports the cryptocurrency that you intend to hold and transact. 

#2. Price

There are free web, mobile and desktop wallets available for storing crypto coins. You just need to download and start using them. The only charges that you need to pay are the network transaction fees when you do a transaction that goes to coin miners.

On the other hand, physical hardware wallets are available online or at local shops for a price that can be costly. 

#3. Security

The wallets come with various security features like 2FA and encryption of private keys. The exchange wallets and mobile (app-based) wallets are always online (hot) and security depends on the smartphone’s security & the passcode.

On the other hand, hardware wallets require buttons to complete transactions besides the passcode. They are offline (cold) and are least prone to hackers and viruses attacks and are considered more secure.

#4. Convenience – Easy of Use 

You need to pick the crypto wallets depending on your transaction requirements. The mobile & web wallets are available instantly on the go and help you transact small amounts.

The hardware wallets need to be connected to your smartphone and PC before you can start using them.

How to Get a Bitcoin Wallet

The mobile, web and desktop wallets are free to download and setup. You can visit the Google Play or an Apple Store and download the app and get yourself registered and start using your bitcoin wallet.

For using exchange wallets that are web or mobile-based you need to open an account with the respective crypto exchange like WazirX and Zebpay.

On the other hand, you need to buy a hardware wallet and wait to get the wallet delivered.

Final Words 

Bitcoins (crypto) are not used for making payments in India, currently. But, the wallets can help you store your hard-earned crypto assets securely. 

The wallets give you full control over your bitcoins by providing private keys. It is the safest way to keep your bitcoins as compared to keeping them in your exchange account. 

About Pardeep Goyal

I talk about saving & investing money. You would love my articles related to Credit Cards, Travel, Shopping, Tax Saving. I share transparently how I am making passive income from multiple sources online.

10 thoughts on “10 Best Bitcoin Wallet in India 2022 (Safest)”

  1. Nicely written and descriptive article. Thanks for all the valuable info.
    Would like to explore other streams of income generation too. Possible to get in touch one on one?

    Reply
  2. Can I use an Indian visa card to purchase bitcoin from another country
    And what is the best application that allows purchase of bitcoin with visa card in india

    Reply
    • I haven’t tried buying Bitcoin using a credit card because there are easier ways to buy bitcoin like – direct INR deposit and purchase on WazirX, CoinDCX exchanges in India. Which is completely legal and safe.

      Why to risk or hide your bitcoin purchase on the foreign exchange using a credit card.

      Nevertheless, some of the global crypto exchanges that claim to accept credit card payments for buying bitcoins are – eToro, Crypto.com, Cex.io and Paybis.

      Reply
  3. HI Pradeep,

    Thanks for so informative article for anyone and specially beginner like me. I am just starting my journey to cypto world, and this information have helped me a lot to get started.

    If you don’t mind, sharing some good and trusted online income/passive income, will like to get in touch with you.

    Awaits for your fruitful reply.

    Regards,
    Sumit

    Reply
      • Dear Sir, I want to trade with cryptocurrencies. Kindly clarify the below.

        1) Which mobile wallet is the safest

        2) After trading and earning profit from BITCOINS, can I transfer to my ICICI BANK ACCOUNT IN Hyderabad? where I am staying prsently

        3) After buying the BITCOINS or any cryptocurrency through a wallet called coinmama….I need to invest in exchanges like gemini fx market or bitcoinworld.ltd and so on.

        4) Is there any possibility to transfer my bitcoin profits to my ICICI BANK IN INR?

        kindly reply I shall ever remain grateful to you sir.

        Reply
        • No one can take 100% guarantee for the safety of crypto wallets. Out of the available options, you can go with the most trusted wallets. You can transfer the profits back to your bank account which is connected with the exchange.

          Reply

Leave a Comment

Save Upto 90% on brokerageOpen Demat Account Now
Share via
Copy link
Powered by Social Snap