How We Work
- Know the different types of Bitcoin Wallets
- Learn to store your Bitcoin safely.
- Benefits of using Bitcoin wallets.
On Mudrex’s secure website
Nikita Tambe,Aashika Jain
Forbes Staff,Editor
Editorial Note: This content has been independently collected by the Forbes Advisor team and is offered on a non-advised basis. This content is not part of the comparison service provided by RunPath Regulatory Services. Forbes Advisor may earn a commission on sales made from partner links on this page, but that doesn’t affect our editors’ opinions or evaluations.
Digital assets like Bitcoin can be traded easily but they need to be securely stored. In cryptocurrencies, it’s only the investors who are responsible for protecting their assets. Bitcoin only can be stored in digital wallets which are also known as Bitcoin wallets.
The user can effortlessly install a Bitcoin wallet, which is highly loaded with features such as easy user interface, maximum security, durability and others.
Here’s a guide on the best Bitcoin wallets in India in 2024. This list consists of free as well as paid Bitcoin wallets, which are easy to install and secure.
{{ showMobileIntroSection ? 'Read Less': 'Read More' }}
{{ showSummarySection ? hideSummaryText : showSummaryText }}
- Featured Partner
- Best Bitcoin Wallets In India
- CoinDCX
- WazirX
- Mudrex
- Ledger Nano S Plus
- Trezor Model T Wallet
- Compare The Best Bitcoin Wallets In India
- Methodology
- What Is A Bitcoin Wallet?
- How Does A Bitcoin Wallet Work?
- Types Of Bitcoin Wallet
- Key Features of a Bitcoin Wallet
- Advantages of Using A Bitcoin Wallet
- How To Set Up A Bitcoin Wallet?
- Tips For Protecting Bitcoin Wallet Password
- Featured Partner
- Next Up In Cryptocurrency
Featured Partners
1
Mudrex
Legacy
Over 1 Million Investors Trust Mudrex for Their Crypto Investments
Security
Mudrex is Indian Govt. recognized platform with 100% insured deposits stored in encrypted wallets
Fees
Enjoy zero crypto deposit fees and industry’s best fee rates.
On Mudrex’s secure application
2
BlackBull Markets
Multiple Award-Winning Broker
Listed On Deloitte Fast 50 index, 2022 Best Global FX Broker – ForexExpo Dubai October 2022 & more
Best-In-Class for Offering of Investments
Trade 26,000+ assets with no minimum deposit
Customer Support
24/7 dedicated support & easy to sign up
On BlackBull Market’s secure website
3
Skilling
Welcome Bonus On First Deposit:
Get $30 in your verified trading account on your first deposit.
Variety:
Trade CFDs in crypto, forex, stocks, metals, commodities & more!
Intuitive & Cheap:
Designed for traders of all levels, from beginners to professionals.
On Skillling’s secure website
4
Uphold
Grow Your Passive Income
250+ cryptoassets available
Why Uphold
Just $1 minimum deposit
Fees
Enjoy 0% bank deposit & withdrawal fees*
On Uphold’s Website
Please invest carefully, your capital is at risk
Best Bitcoin Wallets In India
FEATURED PARTNER OFFER
CoinDCX
4.5
Our ratings take into account a product's rewards, fees, rates and other category-specific attributes. All ratings are determined solely by our editorial team.
Account Type
Hot Wallet
Crypto Assets Supported
300+
Price
Free
Account Type
Hot Wallet
Crypto Assets Supported
300+
Price
Free
Why We Picked It
CoinDCX is highly secure and one of the top and best choices overall for Bitcoin Wallet. It shows the optimum level of security for trading and storing your BTC. It also allows investors to earn interest on the Bitcoins.
The user can easily operate their Bitcoin wallet from their smartphones or directly from their website by logging into their account. CoinDCX wallet is loaded with features such as multi-signature technology where 95% of funds on their platform are stored in multisig cold wallets and SaaS (Security as a Service) platform.
The company also conducts regular security audits to mitigate any attack vectors on its platform. CoinDCX recently launched “Okto” which is a keyless wallet meant for peer-to-peer trading.
Pros & Cons
- Very simple and easy user interface.
- Earn interest on crypto holdings.
- Bitcoin can be easily transferred to other wallets.
- Conduct regular security audits.
- Customer support is only via email.
FEATURED PARTNER OFFER
WazirX
4.5
Our ratings take into account a product's rewards, fees, rates and other category-specific attributes. All ratings are determined solely by our editorial team.
Account Type
Hot Wallet
Crypto Assets Supported
300+
Price
Free
Account Type
Hot Wallet
Crypto Assets Supported
300+
Price
Free
Why We Picked It
In India, WazirX certainly tops the list of best Bitcoin wallets. With a massive user base of around one billion users, this platform offers investors trading in the top cryptocurrencies such as BTC, ETH, XRP, SOL, TRON, DOGE, ADA and in total 400 plus other cryptocurrencies.
This wallet is suitable for all types of investors/traders as deposits and withdrawals on this platform are quite quick and easy. With a simple user interface and quick Know Your Customer (KYC) process WazirX is highly supportable by users for storing their Bitcoins on their exchange.
Pros & Cons
- Seamless and powerful trading experience.
- Strong customer support via live chat and call options.
- No deposit charges.
- Frequent audits and 2-factor authentication.
- 95% of the funds are stored in cold storage.
- Issues have been reported for KYC completion.
- Charges levied on withdrawing funds.
- Does not have an insurance fund in cases of hacks and fraud.
FEATURED PARTNER OFFER
Mudrex
4.5
Our ratings take into account a product's rewards, fees, rates and other category-specific attributes. All ratings are determined solely by our editorial team.
Wallet Type
Hot Wallet
Crypto Assets Supported
350+
Price
Free
On Mudrex’s secure application
Wallet Type
Hot Wallet
Crypto Assets Supported
350+
Price
Free
Why We Picked It
Mudrex was launched in the year 2018, with a vision of making crypto investments less risky and more long-term. They are fully compliant and claim to secure your funds 100%. They let their users trade in Bitcoin and 350 plus other cryptocurrencies along with one million plus invested users.
On Mudrex, transactions on the blockchain take only a few minutes to complete. They provide their investors with unwavering security via data encryption, cold storage for funds, multi-sig technology, biometric authentication and regular security audits. They also support UPI as a payment option. Mudrex charges zero fees on crypto deposits.
Pros & Cons
- User-friendly interface
- Mudrex protect feature
- Better pricing model
- No exit fees
- Zero fees on crypto deposits
- The user interface can be slow at times
- Yet, no notifications when placing orders
FEATURED PARTNER OFFER
Ledger Nano S Plus
4.4
Our ratings take into account a product's rewards, fees, rates and other category-specific attributes. All ratings are determined solely by our editorial team.
Account Type
Cold Wallet
Crypto Assets Supported
5,500+
Price
INR 9,999
Account Type
Cold Wallet
Crypto Assets Supported
5,500+
Price
INR 9,999
Why We Picked It
Ledger Nano S Plus is one of the secure hardware devices that allows investors to store Bitcoins. It also supports 5,500 plus digital coins. It comes in a small USB stick form which contains a secure chip in it. This chip helps you to store encrypted crypto assets and keep the private keys offline. This will certainly keep your investment out of the hacker’s reach.
In India, it is one of the most preferred crypto wallets offline, if you want to keep your crypto’s keys secure. If you’re looking for a hardware Bitcoin wallet, then Ledger Nano S Plus is one of the best options in terms of usability, design and coin support.
Pros & Cons
- Bigger screen for easy navigation.
- Easy to use, light and compact
- Supports over 5,000+ coins.
- DeFi and NFT-friendly
- Less vulnerable to theft.
- Expensive option.
- No Bluetooth connection.
- No mobile support for iOS.
FEATURED PARTNER OFFER
Trezor Model T Wallet
4.4
Our ratings take into account a product's rewards, fees, rates and other category-specific attributes. All ratings are determined solely by our editorial team.
Wallet Type
Cold Wallet
Crypto Assets Supported
8000+
Price
INR 25,999 approximately
Wallet Type
Cold Wallet
Crypto Assets Supported
8000+
Price
INR 25,999 approximately
Why We Picked It
If safety is the main concern, irrespective of the price, then in India, the Trezor Model T is one of the most advanced options for Bitcoin wallets both for crypto experts and new traders. It is a beginner-friendly hardware wallet that supports BTC along with other stablecoins. It is known for its transparency and trustworthiness.
Trezor Model T ensures their users the highest level of security as transactions are verified twice here. It supports all major computer operating systems, such as Mac, Windows and Linux along with Android mobile devices. It also carries a huge reputable name in the industry with a decent past track record.
Pros & Cons
- Super intuitive and clear screen.
- Highly secured features.
- LCD color touchscreen with USB-C connector.
- Additional protection with micro SD card
- Navigation only through the touchscreen.
- Delayed shipments.
- Very expensive.
- No mobile support for iOS.
Compare The Best Bitcoin Wallets In India
Are you still confused by all of the key features and options? Here is a simple table depicting the top five popular Bitcoin wallets in India that are great for different purposes.
| Credit Card | Company – Logo | Forbes Advisor Rating | Forbes Advisor Rating | Wallet Type | Cryptocurrencies Supported | Price | Learn More CTA text | Learn more CTA below text | LEARN MORE |
|---|---|---|---|---|---|---|---|---|---|
| CoinDCX |  | 4.5 |  | Hot Wallet | 300+ | Free | View More | ||
| WazirX |  | 4.5 | | Hot Wallet | 300+ | Free | View More | ||
| Mudrex |  | 4.5 | | Hot Wallet | 350+ | Free | View More | ||
| Ledger Nano S Plus |  | 4.4 | | Cold Wallet | 5,500+ | INR 9,999 | View More | ||
| Trezor Model T | | 4.4 | | Cold Wallet | 1200+ | INR 25,000 | View More |
Methodology
To help you find the Bitcoin wallet that works best for you, Forbes Advisor India has conducted a detailed review process and analyzed 20 Bitcoin wallets which offer their services in India. On the basis of the following parameters, we selected the top five Bitcoin wallets and ranked them accordingly.
- Advanced security features (30% of the score)
- Backup features (20% of the score)
- Pricing (10% of the score)
- User interface and regular updates (20% of the score)
- Access to various different currencies (10% of the score)
- Quality of customer support services (10% of the score)
What Is A Bitcoin Wallet?
Once you have traded in Bitcoins before, the very next step is to securely store them. For this, you know you need a Bitcoin digital wallet or an electronic wallet that can store your accumulated Bitcoins in a safe place that only you can access by using a private key. A crypto exchange application or a wallet application automatically generates the wallet address for you, which will help you to store your digital coins such as BTC in a secure way. You can also track your transaction histories with the help of digital wallets.
How Does A Bitcoin Wallet Work?
A Bitcoin wallet is an online program that contains keys (public and private) that allow users to store, send or receive crypto coins. These keys are merely character strings that let investors receive and transfer their BTC. Keep in mind the device containing your Bitcoin wallet does not store the coins but stores the private key, which has to be kept secret. A private key is a 256-bit number, like:
108165236279178312660610114131826512483935470542850824183737259708197206310322
The coins are stored on the Bitcoin blockchain, and the private key is required to sanction transfers of those coins to another person’s wallet. On the other hand, receiving Bitcoins requires public keys which can be shared. So, in a nutshell, every Bitcoin wallet consists of a public key and a private key, where:
Public Key: The public key allows you to receive Bitcoin or other cryptocurrency transactions. It is public and open to anyone in the system.
Private Key: The private key refers to the ownership of your entire crypto holding via public key. It has to be secured safely and is not meant to be shared with anyone.
Therefore, Bitcoin wallets are not just designed for holding Bitcoins, but they also secure these coins with a private key which ensures that only the main user can open the Bitcoin wallet, just like a password on an online bank account.
Types Of Bitcoin Wallet
Hardware Wallet or Cold Wallet: These are the two most secured wallets as their private keys are stored on a device that cannot be accessed, even by any form of internet device. There are nearly no chances of theft in hardware wallets, as they have to be physically plugged in, usually via USB, if the user plans to make any transactions. Ledger and Trezor are the best examples of hardware wallets.
Pros
- Private keys are stored in an offline environment.
- Huge storage capacity.
- Chances of theft are very low.
- Cold wallets are encrypted with pin protection.
Cons
- Less convenient.
- High in price.
- Does not accept as many cryptocurrencies as hot wallets do.
Software Wallets or Hot Wallets: These wallets are available through any computing device such as a web browser, desktop or smartphone. They are very easy to use and generally free of cost which comes along with the crypto platform. But, since these wallets are based on computer software, they are highly prone to viruses or any kind of malware attack. Nevertheless, software wallets are a great solution for those who deal in BTC in small amounts from their computers. Examples of hot wallets are:
- Web-based wallets
- Mobile wallets
- Desktop wallets
Pros
- Easy to use.
- Beginner friendly.
- Requires no hassle of physical storage.
- Available for free and can be created within minutes.
Cons
- Not meant for storing high-value crypto assets.
- Prone to cyber theft and other online attacks.
- Private keys are stored on the internet or wallet browser.
Bitcoin wallets are widely categorized in the above two categories, however, the perfect option for you to pick totally depends on your own preferences and trading style. The ideal choice can be a combination of the two options, depending on how short and long-term the horizon is for holding Bitcoins and other altcoins.
Key Features of a Bitcoin Wallet
Security: Choose a digital wallet that has a double layer of password protection, regular security audits, strong security backup and unlocking features. The main feature of the digital wallet is to protect your coins from any sort of theft, or online attacks while maintaining the highest level of security.
Access to your private keys: Choose a wallet which provides you access to the private keys for your Bitcoin. If you forget or have no access to your private keys, it means you have absolutely no control over your Bitcoin. Further, when you have access to your private keys, it also means that you are interacting directly with the Bitcoin blockchain with no involvement of any middleman.
Backup features: Choose a Bitcoin wallet that has private key management features which are also known as backup features. Generally, the reputed wallets offer cloud backup for your private keys which makes the whole process much easier. It allows all your private keys to be saved in the cloud, and thus, whenever you create a new digital wallet, the new private keys get automatically backed up to the cloud.
Multi-Signature Wallets: Always look for the “multi-sig” option. It is very important as it requires more than one person to approve the transactions which adds an extra layer of protection. For example, in “3 of 6 multisig wallets” will have six participants which will require at least three of them to approve the transactions. Any of these six added participants can suggest a transaction, but at least three of them must ‘sign’ or approve it.
Fee Customization: This is an essential feature, while you are choosing the BTC wallet. The best wallets are those that allow their users to customize the fees that they need to pay to Bitcoin public blockchain or miners. Many web wallets have the pre-decided fee structure which later becomes a revenue-generation strategy for crypto exchanges. Choose those wallets that allow you to customize the fee you attach to your BTC transactions.
Advantages of Using A Bitcoin Wallet
- Safe way of money exchange anywhere in the world without using a bank.
- Low transaction fees.
- Ensures the highest level of security and transparency.
- Provides confidentiality of transactions.
How To Set Up A Bitcoin Wallet?
Step 1: Go to your app store and download the digital wallet application you want.
Step 2: Sign up, create an account and set a strong password.
Step 3: Create your private key and store it safely.
Step 4: Add or transfer your Bitcoin to the wallet.
Step 5: To receive BTC use the receiving address.
Tips For Protecting Bitcoin Wallet Password
- We suggest not storing the password in any digital form which includes screenshots or even an online picture of your handwritten password.
- Do not share, send or even mention your private key to anyone as it might lead to chances of theft.
- Have a manual backup. Write it on a piece of paper and keep it somewhere safe, a place that you remember keeping it.
- Set up your web wallet account with two-factor authentication and follow other security protocols.
- If your crypto holding is large, prefer storing it in a cold storage wallet option if your crypto holding is large.
- Lastly, be very cautious and vigilant always while making any crypto-based transactions via your wallet.
Featured Partners
1
Mudrex
Legacy
Over 1 Million Investors Trust Mudrex for Their Crypto Investments
Security
Mudrex is Indian Govt. recognized platform with 100% insured deposits stored in encrypted wallets
Fees
Enjoy zero crypto deposit fees and industry’s best fee rates.
On Mudrex’s secure application
2
BlackBull Markets
Multiple Award-Winning Broker
Listed On Deloitte Fast 50 index, 2022 Best Global FX Broker – ForexExpo Dubai October 2022 & more
Best-In-Class for Offering of Investments
Trade 26,000+ assets with no minimum deposit
Customer Support
24/7 dedicated support & easy to sign up
On BlackBull Market’s secure website
3
Skilling
Welcome Bonus On First Deposit:
Get $30 in your verified trading account on your first deposit.
Variety:
Trade CFDs in crypto, forex, stocks, metals, commodities & more!
Intuitive & Cheap:
Designed for traders of all levels, from beginners to professionals.
On Skillling’s secure website
4
Uphold
Grow Your Passive Income
250+ cryptoassets available
Why Uphold
Just $1 minimum deposit
Fees
Enjoy 0% bank deposit & withdrawal fees*
On Uphold’s Website
Please invest carefully, your capital is at risk
Next Up In Cryptocurrency
Explore Our Top Cryptocurrency Picks
- Best Crypto Apps in India
- Top AI Crypto Coins
- Top Altcoins
- Top Meme Coins By Market Cap
Learn More About Cryptocurrency
- Bitcoin Price Prediction 2024
- Why Bitcoin is Rising
- Why Is Crypto Going Up
- Why Is Ethereum Going Up
- Bitcoin Halving 2024
- Cryptocurrency Tax in India 2024
Crypto Buying Guides
- How to Buy Bitcoin in India
- How To Buy Pi coin in India
- How to Invest in Ethereum
- How To Buy Dogecoin in India
- How To Buy Solana
Forbes Advisor adheres to strict editorial integrity standards. To the best of our knowledge, all content is accurate as of the date posted, though offers contained herein may no longer be available. The opinions expressed are the author’s alone and have not been provided, approved, or otherwise endorsed by our partners.
{{ showReadFullArticleContent ? 'Hide the article': 'Read the full article'}}
Can I hold Bitcoins in multiple wallets?
Yes, the user can hold their crypto coins in different wallets at the same time.
Do all the Bitcoin wallets allow you to stake the coins?
No, all the Bitcoin wallets do not allow the staking of crypto coins. You will need to check the features of the wallet before selecting one. Staking the crypto coins with a validator helps in securing the network and earning rewards.
Why do I need a crypto wallet?
Well, your cryptocurrency is not safe until you secure it or store it properly. Technically, you can store your cryptos directly on the exchange app. However, if you trade in large quantities, then having a separate crypto account is necessary for you as it provides you full control over your entire crypto holdings.
What do you mean by multi- signature wallets?
The multi-signature wallets are also popularly known as multisig wallets. These require two or more private key signatures to approve your transactions. These kinds of wallets help to prevent the mismanagement of theft, funds and fraud. Thus, multisig wallets are an ideal option for large exchanges, hedge funds and big corporations.
The Forbes Advisor editorial team is independent and objective. To help support our reporting work, and to continue our ability to provide this content for free to our readers, we receive payment from the companies that advertise on the Forbes Advisor site. This comes from two main sources.
First, we provide paid placements to advertisers to present their offers. The payments we receive for those placements affects how and where advertisers’ offers appear on the site. This site does not include all companies or products available within the market.
Second, we also include links to our advertisers’ offers in some of our articles. These “affiliate links” may generate income for our site when you click on them. The compensation we receive from advertisers does not influence the listings or commentary our editorial team provides in our articles or other impact any of the editorial content on Forbes Advisor.
While we work hard to provide accurate and up to date information that we think you will find relevant, Forbes Advisor does not and cannot guarantee that any information provided is complete and makes no representations or warranties in connection thereto, nor to the accuracy or applicability thereof.
