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Which wallet is best for bitcoin in india 2021

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

Which wallet is best for bitcoin in india 2021
Which wallet is best for bitcoin in india 2021

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 2021

Types of Bitcoin Wallet in India 2021

#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 2021

  • WazirX
  • Zebpay
  • Coinbase
  • Unocoin
  • Trust Wallet
  • Guarda
  • BuyU

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

Let’s review our list of 11 best bitcoin wallets in India 2021

Best Bitcoin Wallet in India 2021

#1. WazirX Multi-Cryptocurrency Wallet Review

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. Vauld Wallet

Vauld wallet is an online hot wallet integrated with the Vauld crypto platform. Vauld is a lesser-known crypto exchange in India because they have worked really hard on building the product before spending money on advertisements.

Vauld wallet allows storing of 55 major cryptocurrencies like BTC, ETH, USDT, DOGE, LTC, MATIC, ATOM, BAT and UNI. 

Biggest advantage of Vauld is that you can create a fixed deposit of your cryptocurrencies & earn up to 12.68%. Long-term investors (HODL) can get extra returns in form of interest earnings passively using Vauld.

Vauld also allows a crypto loan facility by offering 150% collateral directly from your wallet. For example, if you need BTC for online payments then you can borrow from Vauld by keeping 150% value of ETH as collateral. 

Being attached to the Vauld exchange there is a minimum deposit criterion for every cryptocurrency. For example, you need to deposit a minimum of 5 BAT or 1 USDT. However, there is no limit for withdrawal amount.

What I Like  

  • Up to 12.68% interest earnings on cryptos

  • Loan facility from the wallet

  • Integrated directly with Vauld exchange for buy/sell

What I Didn’t Like  

  • Can store cryptos listed only on Vauld

  • Minimum crypto deposit criteria

#3. Zebpay Multi-Cryptocurrency Wallet Review

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

 


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