10 Safest 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 crypto wallets are packed with features that make trading cryptocurrency easier. However, with so many alternatives, choosing one option might be tough.

This article will tell you everything about crypto wallet India, how it works and the top 10 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.

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 crypto wallets 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 Wallets Work?

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

A crypto wallet 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.

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? A Complete Cryptocurrency Guide For Beginners

Types of Bitcoin Wallets

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

• Desktop 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 is if someone hacks your computer when it is connected to the internet.

• Mobile Wallet

  Bitcoin mobile wallets are apps that may be downloaded from the Google Play or Apple Store. App wallets are helpful for making smaller payments or paying for everyday items using bitcoins. It provides the same level of security as your smartphone.

• Web Wallets

  Your private keys are stored on the servers of web bitcoin wallets. Crypto exchanges that provide accounts or wallets are web wallets that hold your bitcoins on their servers. 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 Crypto wallet stores your private key for managing your cryptocurrency on a blockchain.

  Hardware wallet is one of the safest options to store cryptocurrency because it is not connected to the internet. Without this gadget, a hacker halfway over the world will be unable to access your crypto.

How We Selected the Best Bitcoin Wallet in India

There are many crypto wallets available online. So, we’d like to share our approach in selecting the top 10 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. We wanted to pinpoint the key features that matter most to you, as well as address the common concerns faced by crypto enthusiasts. To achieve this, we reached out to experts and gathered insights from the wider crypto community.
• Researching the Options: Once we had a comprehensive list of your requirements, we delved into the vast world of cryptocurrency wallets. 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: Our next step involved an exhaustive evaluation process. We took each wallet on our shortlist for a test drive, assessing its features and functionalities. Our aim was 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 crypto wallet’s community and its support resources. A robust community can provide valuable insights and troubleshooting often helps. 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.

10 Best CryptoCurrency Wallet Apps in India

Wallet Name	Type	Supported Cryptocurrencies	Security Features	Available On	Minimum Trade Value
Binance	Exchange Wallet	Multiple	Two-Factor Authentication (2FA), Cold Storage, Withdrawal Whitelists	Android and iOS	INR 1500
WazirX	Exchange Wallet	Multiple	Two-Factor Authentication (2FA), Cold Storage, IP Whitelisting	Android and iOS	INR 100
Ledger Nano	Hardware Wallet	Multiple	Offline Storage, PIN Protection, Recovery Seed Phrase	PC	No Minimum Amount
Coinbase	Exchange Wallet	Multiple	Two-Factor Authentication (2FA), Insurance, Hot and Cold Wallets	Android and iOS	INR 1
ZenGo	Mobile Wallet	Multiple	Biometric Authentication, Keyless Wallet, Multi-Signature	Android and iOS	INR 2500
CoinDCX	Exchange Wallet	Multiple	Two-Factor Authentication (2FA), Cold Storage, Withdrawal Whitelists	Android	INR 500
BuyUcoin	Exchange Wallet	Multiple	Two-Factor Authentication (2FA), Cold Storage, IP Whitelisting	Android	INR 100
ZebPay	Exchange Wallet	Multiple	Two-Factor Authentication (2FA), Cold Storage, Withdrawal Whitelists	Android and iOS	INR 100
Unocoin	Exchange Wallet	Bitcoin	Two-Factor Authentication (2FA), Cold Storage	Android	INR 1000
Guarda Wallet	Multi-Currency	Multiple	Encrypted Private Keys, Multi-Platform Support, Backup Options	Android	INR 100

1. Binance

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 Features

• It offers both simple and complex crypto trading exchange interfaces.
• It is one of the top cryptocurrency wallets in India, with 24*7 available help.
• Binance provides a safe place to store your digital valuables.
• Available on web, iOS, and android.

Binance Pros and Cons

Binance Specification

• Cryptocurrency Supported: BTC, BTG, ETH, DASH, ADA, XRP, NEO, TRX, etc.
• Deposit Fees: No Fees Required
• Withdrawal fees: Depends on the type of cryptocurrency.
• Payment Methods: Credit or Debit Card, Cryptocurrency, Koinal, etc.
• KYC: Required
• Minimum Trade: INR 2500

2. WazirX

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

• KYC will be conducted within a few hours of signing up by identity verification systems.
• It allows P2P trading with no crypto trading fees.
• In a matter of seconds, this digital currency wallet can process millions of transactions.
• Available on Android, Google Play, iOS, Windows, and Mac.

WazirX Pros and Cons

WazirX Specification

• Cryptocurrency Supported: Bitcoin, Ethereum, Ripple, Zilliqa, Tron, and 100+ other cryptocurrencies.
• Deposit Fees: No Fees Required
• Withdrawal fees: There is a cost of 0.0005 BTC for each Bitcoin withdrawal. No fee for INR withdrawals.
• Payment Methods: Bank Transfer, UPI, NEFT & RTGS, and IMPS.
• KYC: Required
• Minimum Trade: INR 100

3. Ledger Nano

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.

Ledger Nano Features

• Ledger hardware wallets come with a certified secure chip and a unique operating system.
• It is user friendly.
• The wallet lets you handle over 1,800 tokens and cryptocurrencies.
• You can utilise both public and private keys.
• Secure chip and a unique operating system.
• Windows, Mac OS X, and Linux are all supported systems.

Ledger Nano Pros and Cons

Ledger Nano Specification

• Cryptocurrency Supported: Bitcoin, Dogecoin, Cardano DASH, Binance Coin, Ethereum, EOS, and 5000+ others.
• Deposit Fees: Every transaction is associated with a network fee, which can be high, low or standard.
• Payment Methods: Credit card, BitPay, PayPal, and crypto.com Pay.
• KYC: Not required
• Minimum Trade: INR 100

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

4. Coinbase Bitcoin Wallet

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 that logs into your account is legitimate.

Coinbase Bitcoin Wallet Features

• The user interface is vibrant and easy to use.
• Coinbase has earned a reputation for being a safe location to purchase and sell cryptocurrency.
• As customers complete training, Coinbase awards them with cryptocurrency.
• Coinbase is geared toward newbies, whereas Coinbase Pro is geared toward more experienced traders.
• Available on Web, iOS, and Android.

Coinbase Pros and Cons

Coinbase Specification

• Cryptocurrency Supported: Bitcoin, Ethereum, Dogecoin, Binance Coin, Dai, Maker, USDC, Tezos, Tether, Aave, Uniswap, Kyber Network, The Sandbox, Paxos Standard.
• Deposit Fees: Free
• Withdrawal fees: 0.5% to 4.5% depending on payment method
• Payment Methods: Bitcoin, Ethereum, USD Coin, Debit or Credit card, Apple Pay, Bank transfer.
• KYC: Required
• Minimum Trade: INR 1

5. ZenGo

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

ZenGo Features

• It has developed a keyless cryptocurrency wallet to enable you to choose the right options. Instead, you can maintain control over your finances without having to remember a slew of passwords.
• ZenGo can be used to buy cryptocurrency in 188 countries.
• You can keep track of your investments in real time. To find out where you stand, simply open your ZenGo app.
• Available on Web, iOS, and Android.

ZenGo Pros and Cons

ZenGo Specification

• Cryptocurrency Supported: Bitcoin, Ethereum, Dogecoin, Binance Coin, Dai, Maker, USDC, Tezos, Tether, Aave, Uniswap, Kyber Network, The Sandbox, Paxos Standard.
• Deposit Fees: Free
• Withdrawal fees: Depends on the type of cryptocurrency.
• Payment Methods: Bitcoin, Ethereum, USD Coin, Debit or Credit card, Apple Pay, Bank transfer.
• KYC: Required
• Minimum Trade: INR 2500

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 Features

• Encrypt all of your data to keep your passwords and personal information safe.
• CoinDCX is a decentralized cryptocurrency.
• Most of the money on our platform is kept in cold wallets.
• It’s a secure and straightforward approach to building a solid crypto portfolio.
• Available on iOS and Android.

ConDCX Pros and Cons

CoinDCX Specification

• Cryptocurrency Supported: Bitcoin, Tether, Ethereum, Shiba Inu, XRP, Solana, etc.
• Deposit Fees: Free
• Withdrawal fees: Depends on the type of cryptocurrency.
• Payment Methods: Credit card or debit card, bank transfer (ACH), UPI.
• KYC: Required
• Minimum Trade: INR 500

Suggested Read: Best Cryptocurrency Exchange Software Companies for Crypto Trading

7. BuyUcoin

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

• You can complete your KYC in under a minute and begin trading.
• Invite your friends to join you to earn free Bitcoin.
• BuyUcoin provides an affiliate and referral program where you can earn up to 50 percent commission on cryptocurrency trading.
• You can effortlessly add cryptocurrency or Indian rupees to your digital wallet.
• Available on Web, iOS, and Android.

BuyUcoin Pros and Cons

BuyUcoin Specification

• Cryptocurrency Supported: ETH, BTC, BNB, SOLANA, TETHER, ADA, XRP, DOGE, DOT, LTC, SHIB, etc.
• Deposit Fees: 2% deposit fees
• Withdrawal fees: Depending on the crypto coin you want to withdraw.
• Payment Methods: Bank Transfer, BHIM UPI, Net banking, etc.
• KYC: Required
• Minimum Trade: INR 100

8. ZebPay

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

• Ensure the highest level of security so you can trade cryptos without worry.
• It has a simple ZebPay app and wallet.
• Make payments in a flash using the mobile app.
• 98% of ZebPay’s cryptos are kept in cold wallets.
• It allows for the creation of a world-class multi-chain security solution.
• Its security is a proprietary Omnitrixx product.
• The coins held in ZebPay cannot be hacked or accessed from a single location.
• Available on Windows, Android, and iOS.

ZebPay Pros and Cons

ZebPay Specification

• Cryptocurrency Supported: DOGE, LTC, BTC, BCH, ETH, XRP, TRX, ADA, ZRX, XLM, DAI, ACH, SHIB, etc.
• Deposit Fees:  ₹10 on net banking, ₹25 on using UPI, and ₹7 on bank transfer 
• Withdrawal fees: There is a flat ₹10 fee for all withdrawals and 0.0006 BTC for Bitcoin withdrawal.
• Payment Methods: Bank transfer, net banking, and UPI.
• KYC: Required
• Minimum Trade: INR 100

9. Unocoin Bitcoin Wallet

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

• User privacy is prioritised in the wallet. Unicoin collects personal information to quickly identify you.
• Most user funds are kept offline in the wallet. You can construct many addresses for offline storage on a computer that does not have access to the internet.
• 2 factor authentication adds protection against hacking attempts.
• Move your funds to secure wallets if you don’t plan on making frequent trades.
• Available on Web, iOS, and Android.

Unocoin Pros and Cons

Unicoin Specification

• Cryptocurrency Supported: Bitcoin, Ethereum, Dogecoin, Shiba Inu, Fantom, Litecoin, Ripple, Bitcoin Cash, EOS, Stellar, and more.
• Deposit Fees: Depends on the type of cryptocurrency.
• Withdrawal fees: Up to 0.7%
• Payment Methods: Bank transfer, net banking, and UPI.
• KYC: Required
• Minimum Trade: INR 1000

10. Guarda Wallet

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.

Guarda Wallet Features

• Guarda Wallet offers web-based, desktop-based, and mobile-based wallets.
• It protects its users’ confidential data with encryption technology.
• It allows two or more users to sign transactions thanks to its multi-signature functionality.
• This guarantees the highest level of protection and secure wallet transactions.
• Users can also use the built-in exchange tool to convert currencies and perform quick crypto transactions.
• Available on Web, Linux, Windows, macOS, iOS, Android, and Chrome Extension versions.

Guarda Pros and Cons

Guarda Specification

• Cryptocurrency Supported: Binance Coin, Bitcoin, Ethereum, Cardano, Dogecoin.
• Withdrawal fees: Customizable transaction fees, 3.5% crypto purchase fee. 
• Payment Methods: Bank transfer, Net banking, and UPI
• KYC: Required
• Minimum Trade: INR 100

Benefits of Using a Crypto Wallet 

Using a cryptocurrency wallet in India, such as Bitcoin Wallet or Ethereum Wallet, offers several benefits: 

• 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 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: Cryptocurrency wallets 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: Crypto 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: Cryptocurrencies enable fast and low-cost cross-border transactions without relying on mediators like banks or remittance services. 
• Opportunity for Investment: Owning a crypto wallet 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. 

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. 

Suggested Read: Compare Best Software Available in the Market

FAQs

Related Categories: CryptoCurrency Exchange Software | Stock Market Software | Financial Management Software