Best Bitcoin Wallets in India 2020

Over the last ten years,  Bitcoin trading in India has become one of the most popular and accessible means of investing for both experienced traders and those with little or no experience in financial markets. With numerous crypto exchanges available, it has never been easier to explore the virtually unlimited potential of digital currency. However, a key difference between trading crypto and trading traditional financial instruments is that the tokens must be stored in special Bitcoin wallets.

Naturally, looking to invest in crypto will want to find the best Bitcoin wallet for India, but as we shall see, the task of finding said wallet requires careful consideration of various factors.

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The Most Popular Wallet Types

If you are new to the world of cryptocurrency, you might be surprised to find that Bitcoin wallets in India come in a variety of formats – both hardware and software – and there are marked differences in how the different kinds of wallet operate. The following information should clue you in to the different types of wallets available.

Desktop wallets

For many traders, desktop wallets make for the best crypto wallets in India because they provide the best balance between security and convenience. They are effectively a programme that is downloaded onto your PC or laptop and allow you to securely store your cryptocurrencies. Desktop wallets are more secure than web-based wallets, but still offer the convenience of being connected to the internet. The only drawback is that many desktop wallets can only be accessed from the device they are installed on.

Some of the best desktop bitcoin wallets in India are:

  • Electrum
  • Guarda
  • Exodus
  • Coinbase

Online wallets

Online wallets are web-based platforms that store your crypto information. They are usually not usually recommended as a primary wallet, due to their greater exposure to cyber-attacks. However, whilst web wallets are not usually considered amongst the top Bitcoin wallets in India, they are often used as a secondary option, used to make quick transfers in and out of a more secure wallet.

Hardware wallets

Arguably the best option for traders prioritising security, hardware wallets are a physical device, similar to a flash drive, which allows you to store multiple cryptocurrencies. The leading brands, Ledger and Trezor, both offer a proprietary operating system that allows you to manage your portfolios without needing to connect an additional device. Your crypto is stored entirely offline, which makes hardware wallets significantly safer than web-wallets or even desktop versions.

Mobile wallets

Mobile wallets are also among the most popular Bitcoin wallets in India, as they offer many of the benefits of desktop wallets but allow traders to make transactions on the go. Mobile wallets come in the form of an app that is installed on your phone or tablet. However, whilst the apps themselves have numerous security protocols, users should always be aware of which networks they are connected to and never make crypto transactions over those which are not secured.

Some leading mobile wallets are:

  • Copay
  • Electrum
  • Guarda Mobile
  • Exodus
  • Jaxx

Paper wallets

Lastly, it is possible to dispense with technology altogether to store your cryptocurrency. After using a specialist app to generate your private crypto key, you can then print a copy and store it in a secure location. However, whilst this certainly puts your crypto beyond the reach of hackers, it is somewhat problematic when it comes to actually making transactions, as you’ll need to transfer your tokens back into a hot wallet before you can send them on.

Who Should Make Use of this India Bitcoin Wallets Comparison?

If you are looking for the best Bitcoin wallets in India, then this post is for you. Whilst we will not explicitly tell you which wallet to go for, as this largely comes down to individual priorities and personal choice, we can offer you plenty of information on the different types of wallet available.

It should be noted that this is a general overview without taking into consideration the advantages that are specific to a particular token. If you plan to predominantly trade in a single coin or prefer to split your currencies among different wallets, then why not check out some of our token-specific reviews, such as our Ethereum wallet reviews, Ripple wallet reviewsBitcoin Cash wallet reviews, or whichever is to your choosing.

Editor’s Recommendation

There are many options when it comes to India Bitcoin wallets, but our editorial team believes that the Guarda Bitcoin wallet is one of the best all-rounders for both newbies and experienced traders. The great thing about Guarda is it offers desktop, mobile and web wallet options, each supporting hardware wallets for those who plan on using a cold wallet in tandem. When it comes to security, Guarda wallet supports both facial recognition and biometric authentication, meaning only you will be able to access your crypto. The wallet also supports multiple currencies, which is a major bonus for those with a diverse portfolio who prefer to use a single wallet for all their tokens. On the other hand, if you prefer to separate your coins amongst different wallets, then you may want to check out our coin-specific posts, such as our Tether wallet reviews, Litecoin wallet reviews, or Binance Coin reviews, for example.

This is How Our Experts Test Wallets

Finding the best Bitcoin wallet for India requires some consideration. There are numerous factors that may affect your decision and each wallet has its own strengths and weaknesses. To ensure that you get a solid overview of each wallet, our experts put them through a thorough review process, ensuring we consider the key factors likely to affect your decision.

Reviews and reputation

If a wallet has any distinct flaws or groundbreaking features, chances are it will already be common knowledge and by researching a providers reputation our experts can build a better picture of just how well a wallet functions – minus any promotional spiel. India Bitcoin wallets with a positive reputation will almost always have them with good reason.

Security features

For many traders, security is the number one priority and the best Bitcoin wallets in India are those which offer the most robust security protocols. All wallets should offer industry-standard features, such as encryption, two-factor authentication, however, some will offer additional features, such as biometric authentication or multi-signature support. With hardware wallets, we also look at the security rating of their operating systems and chipsets.

History and previous security breaches

No review of a wallet’s security features would be complete without taking into consideration any past breaches or issues. Whilst it may seem as though the best bitcoin wallet for India would be the one with a spotless record, often companies up their game after potential security alerts, meaning they come back stronger than ever having learnt from the experience.

Customer Support

India Bitcoin wallets are usually fairly straightforward to operate, but it never hurts to have help available, should you need it. Our review team looks at what sort of customer service is offered and what channels you can use to get in contact with your wallet provider. We also rate response times and the overall effectiveness of any support offered.

Practical tests: ease of use and practicality

The best Bitcoin wallet for India should be easy to use and innovative with how it implements its security features. With this in mind, we look at a wallet’s interface and test its features to gauge its usability. This is essential in helping you decide which option to go for, as the more complex wallets are often less suitable for those new to the world of crypto.

Practical tests: What options are available?

Many of the best crypto wallets in India offer several versions. For example, hardware wallets also come in basic and more advanced models, whilst some desktop wallets also offer a mobile version. The same is true for security features, as some wallets will offer a standard set with the option to add further authentication steps to suit the individual user. We take a look at what options a wallet offers and how this affects their suitability for different types of crypto trader.

Practical tests: Speed

Speed is often another important factor in choosing the best Bitcoin wallet for India. Whilst some traders choose to invest in crypto for the long term, others may need to make frequent transactions. As such, we assess the speed in which a wallet can be accessed and how straightforward it is to send and receive crypto on the go.

Comparison

Lastly, we consider all of the above factors in comparison to other products on the market. By doing so, we can help you build a much clearer idea of which features are industry standard and which are genuine innovations by a provider. Comparison with other India Bitcoin wallets also gives you a better idea of the other options you have.

Finding the Right Wallet For You

The best bitcoin wallet for India will likely be different from one user to the next, as there are so many factors to consider. Many of these factors will come down to the individual, such as a preference for a particular interface style or certain features. As such, before trawling through the vast offering of bitcoin wallets in India, it’s a good idea to think about the factors that are most important to you, based on your own investment goals and trending preferences.

Security vs convenience

As we have seen, the most secure wallets available are, by definition, those with the least connectivity. Whilst a hardware wallet locked away in a vault is undoubtedly safe from cyber attacks, it is of little use to a day trader looking to make quick transactions throughout the day. Similarly, if you plan on using your crypto to pay for retail goods, then you’ll want a wallet you can access easily. Many traders will now use a hard wallet and a soft wallet to get the best of both worlds, but even then, it’s worth considering just how much security and convenience you need from each.

Do you plan on trading in more than one currency?

Some crypto wallets are better suited to particular tokens. For example, Bitcoin SV wallet reviews may draw different conclusions than EOS wallet reviews based on subtle differences between how the tokens are traded. Many traders prefer the convenience of a wallet that supports multiple currencies, whilst others may prefer to keep their different tokens in separate wallets. This is an important thing to consider when considering Bitcoin wallets in India.

What will you use the wallet for?

An often-overlooked factor when looking at Bitcoin wallets is that of compatibility. For example, some web wallets cannot be used in conjunction with hardware wallets, which make them a no go for traders looking to use both for added security. Similarly, Bitcoin wallets might be ideal for crypto mining in India, but less useful for day traders or those looking to make retail purchases.

How often will you make transactions?

If you are looking for crypto to invest in as part of a long-term strategy, then you may well find you are happy to use a hardware, or even a paper wallet, as you won’t need to make frequent transactions and can afford to sacrifice a little convenience in this area. However, if you intend sending and receiving crypto in high volume, then you might be better suited to a mobile wallet that you can access on the go.

Conclusion

As we have seen, selecting the best bitcoin wallet for India requires careful consideration. In fact, you should devote just as much research to choosing a wallet as you would choosing a crypto exchange in India.  By reading reviews of the current market offering, as well as reflecting on your own requirements and trading preferences, you should be able to find a reliable platform that will not only keep your crypto secure, but allow you to access your digital currency as and when you need to.

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