Like your bank account, which you usually use in online banking transactions, cryptocurrency wallets are also used to ensure your Bitcoins’ and other cryptocurrencies’ safety and security. You can obtain and securely keep cryptocurrencies and Bitcoins in your cryptocurrency wallet. Crypto wallets help you use your Bitcoins efficiently. Although some may be unfamiliar with the idea of Bitcoin, this famous cryptocurrency has been existing for more than a decade already. Bitcoin is one of the several virtual currencies, which have become relatively general investment securities.
Bitcoin wallets can be accessed in various forms, such as websites, applications, or hardware. Suppose you are based in India or a citizen of India, and you are interested in investing in cryptocurrencies, but you have no idea about India’s best cryptocurrency wallet – this article will serve as your guide and will provide you with the list of which is the best cryptocurrency wallet in India.
Types of Bitcoin Wallets
Before jumping right into the list of which is the best cryptocurrency wallet in India, you must know first the different types of Bitcoin wallets available in India.
- Mobile Cryptocurrency Wallet – With Play Store for Android users and Apple Store for iPhone users, you can download different mobile cryptocurrency wallets. For making quick payments or using Bitcoins as a payment for the transactions you make every day, application wallets are handy. The drawback of this wallet type is that if someone gains access to your phone or account by hacking it, you can lose your account, and they can take control over it.
- Website Cryptocurrency Wallet – On their database, Website Cryptocurrency wallets hold your private keys. A sort of website wallet where you keep your cryptocurrencies on their databases is crypto exchange platforms that provide accounts or wallets. Third-party servers are involved in website cryptocurrency wallets since they are online. The drawback you would have is that the company that runs the databases and exchange platforms can shut down or control your encryption information.
- Desktop Cryptocurrency Wallet – Desktop cryptocurrency wallets hold your information on your local computer’s USB drive. They are safer than wallets on smartphone and those that require Internet use. The only downside is when someone hacks your computer.
- Hardware Cryptocurrency Wallet –The safest place to store your Bitcoins is through hardware cryptocurrency wallets, which are direct or indirect devices, such as USB sticks, in which the private keys are kept. Hardware cryptocurrency wallets are resistant to malicious software and therefore do not enable clear text to move funds.
Now that you have an idea or glimpse as to what are the different types of Bitcoin or cryptocurrency wallets, you can now choose which is the best cryptocurrency wallet in India among the list to be given in the next part of this article.
Best Cryptocurrency Wallets In India
Cryptocurrency advocates claim that digital currencies are simpler and more secure than conventional currencies and that they come with improved privacy. Even the frequently used smartphone PayPal app provides an alternative to purchasing, trading, and keeping cryptocurrencies in its wallet.
With that being said, below are the list of crypto wallets to help you choose which is the best cryptocurrency wallet in India.
WazirX Cryptocurrency Wallet
A wallet service is also supported by WazirX, an India-based crypto exchange. You have the WazirX platform connected to a website or phone-based cryptocurrency wallet. In order to utilize a wallet, you must open a WazirX profile. On Wazirx, you could exchange over 200 pairs and hold all the cryptocurrencies in your wallet. WazirX requires two authentications, such as Google user authentication or cellular OTP-based verification, for safety.
WazirX charges zero transaction fees, but withdrawals are susceptible to costs and withdrawal rates.
- It can be accessed both on mobile phones and computers.
- You can trade directly using the WazirX exchange platform.
- Up to 200 trading partners are available.
- Withdrawals are not exempted in transaction charges.
- There is a particular limit on the amount you can withdraw.
Zebpay Cryptocurrency Wallet
Zebpay is an exchange platform of multi-cryptocurrencies providing cryptocurrency wallet facilities. Regarding the temporary suspension imposed under the RBI cryptocurrency guidance, Zebpay is back in service. In a protected database and not in separate wallets with an encryption key, Zebpay holds your cryptocurrencies. Zebpay enables your crypto coins to be moved to other platforms or your very own wallet.
As of now, the amount that Zebpay charges their clients is Rs.0. If you do not trade, they have a monthly wallet fee that you need to pay, which amounts to 0.0001 BTC to maintain your balance. Withdrawal and deposit fees are charged separately.
- They accept INR deposits.
- You can link your wallet to Zebpay crypto exchange platforms.
- They have a pooled crypto storage.
- They currently accommodate eight cryptocurrencies only.
Given the list of the two best cryptocurrency wallets in India, together with their advantages and disadvantages, you have probably made up your mind already as to which is the best cryptocurrency wallet in India. Find out more about cryptocurrency wallets here!
It is known to everyone that India is the seventh-largest country in the world, and that it excels not only in sciences but also in advancement in online currency. India has set its standards way above most countries.