Bitcoin Wallet – Bitcoin is a cryptocurrency in a digital format. If you buy a bitcoin you need to store it somewhere. A Bitcoin wallet is a virtual place where you can store your cryptocurrencies. The Bitcoin wallet also allows you to perform transactions online, or through Bitcoin ATMs which you can locate easily by searching on Google using the following keyword “Bitcoin ATM near me“. this will help you locate the nearest BTM to you. It is like a mobile wallet that you keep on your mobile for storing virtual money and doing transactions. A Bitcoin wallet is also known as Crypto Wallet.
The crypto wallet (bitcoin wallet) is available in the form of a mobile app, web-based wallet, desktop-based wallet, and hardware-based. You can send and receive bitcoins and other cryptocurrencies using wallets. It is stored in digital mode (private key address). In short bitcoin wallet means app, website or hardware device that manages private keys for you.
Here is a detail about the type of Bitcoin wallet and a list of the 10 Best Bitcoin Wallets (Crypto Wallet) in India.
Types of Bitcoin Wallet
#1 Mobile Wallet
Mobile wallet as the name indicates it is a wallet where you store your cryptocurrency in the mobile app of your smartphone. The mobile wallet stores private keys of cryptocurrency and allows you to make a payment from your phone. Some mobile wallet comes with NFC – near-field communication features. NFC allows you to make payment by tapping the phone against the terminal without giving/entering any information.
#2 Web-based Bitcoin Wallet
Web-based wallet stores your private key on the server. You can access stored key web-based using the internet. The security of the server is governed by third-party tools. Web-based wallets are also known as an e-wallets. In this type of wallet security of the server becomes very important. If the security of the server is compromised your cryptocurrency is under risk.
#3 Desktop Wallet
Desktop wallets are downloaded and installed on your local computer. Here private keys are stored in the local hard disk in a secured manner. The stealing of information from local hard disk is difficult. So by definition desktop wallets are more secured compared to mobile and web-based wallets.
#4 Hardware Wallet
Hardware is the next category in the cryptocurrency wallet. Hardware-based wallet is a hardware device where the private key address is stored securely. It is one of the best and most secured way of storing bitcoin. Hardware wallet is safe from computer viruses and hacking attempt. You need to pay additional money in order to purchase a hardware wallet.
9 Best Bitcoin Wallet (Crypto Wallet) in India
Mobile Wallets
#1. Unocoin Bitcoin Wallet Review
Unicoin is next in the list of mobile bitcoin wallet. You can manage all cryptocurrencies stored in Unocoin account using this wallet. Unocoin wallet is available on Andriod as well as iOS. You can buy/sell or perform transactions such as DTH recharge, bill payment in cryptocurrency using this wallet.
Features
- Live Price Tracker
- Deposit and withdraw INR
- Buy & Sell Bitcoin Instantly
- Consolidated wallet for cryptocurrencies
- View History of merchant transactions
Pros
- Option to buy bitcoin using SIP
- Earn free bitcoin by referring app to friends
- Lower Transaction fees
- IMPS and NEFT options for INR withdrawal
Cons
- Supports only three cryptocurrencies
- Support is Poor
#2. Trust Bitcoin Wallet Review
Trust Bitcoin Wallet is a decentralized exchange wallet. You can buy & sell cryptocurrencies using decentralized exchanges using this wallet. Trust Wallet supports many blockchain wallet Standards.Trust bitcoin wallet is available on Andriod as well as Apple platforms.
Features
- Allow you to replace your old wallet
- Trade-in multiple cryptocurrencies
- Push Notification to users on the transaction
- Send and receive assets through QR codes or with copy and paste functions
Pros
- Detailed transaction summary including history
- Fully security with passcode protection & encryption
- Connected to Decentralized exchange
- Portfolio view on the dashboard
Cons
- Support is poor
Web-Based Wallets
#3. Zebpay Multi-Cryptocurrency Wallet Review
Zebpay is a leading multi-cryptocurrency exchange in India. Zebpay also offers a web-based wallet. Zebpay allows you to buy, sell and transfer your crypto coins to other wallets as well as exchanges. Zebpay offers six different crypto currencies.
Features
- Buy and Sell using INR
- Trade across the devices
- Robust API for integration
- Disable Outgoing Transaction with password
Pros
- Easy to use
- Less Costly
- Wallet linked to Zebpay crypto exchange
- Proprietary security Protocols
Cons
- Pooled crypto storage
- Limited cryptocurrency support
Desktop Wallets
#4. Guarda Bitcoin Wallet Review
Guarda offers desktop, web-based as well as a mobile wallet for different types of cryptocurrencies. Guarda also offers chrome extension.
Features
- Use across the devices
- No account registration is required
- Compatible with Hardware Wallet
- Support multiple currencies
Pros
- Desktop, Web as well as mobile wallet option
- Available on Andriod, iOs, Windows, Mac and Chrome extension
- A higher level of security
Cons
- A Non-custodial wallet
#5. WazirX Multi-Cryptocurrency Wallet Review
WazirX is Multi Cryptocurrency wallet that is available in Desktop, Web-based as well as a Mobile wallet. You need to open an account in WazirX to use this wallet. You can use this wallet to trade on exchange as well as the P2P platform.
Features
- Lightning speed transactions
- Simple and Efficient Transactions
- Use across the platforms
- Two Factor Authentication via Mobile OTP
Pros
- Option to use web-based as well as mobile wallets
- Trade on Exchange as well as P2P platform
- Support of multiple cryptocurrencies
Cons
- Minimum and Maximum withdrawal amount limit
- Fees applicable to withdraw money
#6. Exodus Bitcoin Wallet Review
Exodus is a desktop wallet that can be used on Windows, Mac, and Linux based desktop. You need to download and install the application to use this wallet.
Features
- Use of QR code address for sending and receiving bitcoin
- Support to 100+ Crypto Currencies
- See overall portfolio on screen
- Built-in exchange
Pros
- Send and receive specific coins
- Support of multiple windows OS
- Encryption of private key for enhancing security
- Multiple Help options including video and chat support
Hardware Wallets
#7. Ledger Nano X Bitcoin Wallet Review
Ledger Nano X is a hardware wallet that allows you to store bitcoins. This wallet comes with a USB type chip. You can use this wallet on Windows 10, Mac and Linux OS. This device comes with a certified secured chip with enhancing security. It is a lightweight device made of stainless steel and plastic. This device comes with a battery that can be purchased from the vendor directly.
Pros
- Light Weight
- Secure Chip with USB Type
- This device can be used on multiple devices
Cons
- You need to take care of Hardware Device
- You need to take a backup of the device
- Maintenance of device is required
- High Cost
#8. Trezor Model T Bitcoin Wallet Review
Trezor is a hardware-based wallet to store cryptocurrency. Trezor comes with security such as bootloader protection and firmware signature verification. In case of firmware version is mismatched the device erases all memory to protect from threats.
Pros
- Full-color touch screen display
- Firmware Signature Protection
- Lightweight device – 16 gm
Cons
- Additional USB Connector is required
- High price around Rs.12000
#9. Cool Wallet S for Bitcoin Review – Hardware
Cool Wallet S is a famous hardware-based bitcoin wallet. This wallet can be used on Andriod and iOS smartphones. Cool Wallet is small in size and weight. Cool Wallet comes with a battery that can be charged with 2 Hours and provide a standby life of 3 months.
Pros
- Multi-Factor Authentication with anti-tampering protection
- Military-grade security chip
- Good Battery Life
- Leight Weight – 4 gm
- Compatible with Multiple OS
Cons
- Price is high in the range of Rs.12000 to Rs.14000.
Risk Associated with Bitcoin Wallets
- Malware, malicious software and hacking are most common risk associated with bitcoin wallet. Here your cryptocurrency can be high jacked or stolen.
- Trojan house is another risk. Trojan can encrypt all the files on your hard disk. Once data is encrypted you will be asked with ransom to decrypt the file it is like a ransomware attack.
- Exchange where you are exchanging money know about how much cryptocurrency you own.
- Your laptop, phone or hardware device can be lost and you may end up losing your cryptocurrencies.
To protect your bitcoin (cryptocurrency) you should use most secured wallet. If possible, use wallet that does not require internet connection. Use latest antivirus, antimalware and firewall software to protect cryptocurrency.
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