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Best 5 Crypto Wallets in 2022
Cryptocurrency Is in vogue right now. Whether it’s Elon Musk taking DogeCoin to the moon or Amitabh Bachchan with his NFTs, Crypto and Web3 are the rising sectors for the economy.
Every other person is trading or mining Bitcoin, Ethereum, Solana, etc., and diversifying their portfolio with these new volatile assets. Thus, increasing the need for wallets to trade and store your virtual currency. This new sector was also an opportunity for new ideas and innovations to follow. In India, Some techies saw this as an opportunity. It gave rise to many crypto wallets having unique and distinct features.
With the loaded ads and marketing strategy, some wallets turned out to be a scam. So In this article, we bring the 5 Best Crypto wallets which are handpicked and completely secure. But first, we need to know what crypto wallets are, how they work, are safe to use, and many other questions.
What is a Crypto Wallet?
Crypto wallets store your crypto safe and easily accessible. They also help to send, receive or spend your cryptocurrencies like Ethereum which is popularly used to buy NFTs (Non-Fungible Tokens).
They are available in two forms ie. Hardware and Software wallets.
Hardware wallets look like a USB stick store your crypto whereas Software wallets like Coinbase which are available as an app in your mobile phone with premium security features as well.
What is the need for a Crypto Wallet?
Crypto wallets do not have your cryptocurrency stored, instead have private keys which are the passwords to access your crypto from the blockchain. If you don’t have the private keys, you can’t get access to any money available on the blockchain. Therefore, you need a trusted Crypto Wallet or safeguard your hardware key if you want to secure your cryptocurrencies.
Types of Crypto wallets
The popular and main types of wallets are :
- Hardware wallets
- Online Wallets
- Paper Wallets (Physical Paper have the keys)
Best Crypto Wallets in India 2022
Coinbase
Coinbase is one of the most popular Crypto exchange platforms which also has a Wallet service to store and use them. It can also store your NFTs.
WazirX
It is one of the best Bitcoin wallets available in India.
CoinDCX
It claims to be India’s safest crypto exchange.
Binance
It can trade about 600+ Cryptocurrencies.
Electrum(Unique)
Simple, Easy to use BTC wallet, and one of the oldest.
Coinbase | Best Crypto Wallets 2022
| App Name | Coinbase |
| Founders | Brian Armstrong, Fred Ehrsam |
| Founded In | 2012 |
| Revenue | 114 Crores USD (2020) |
| Deposit Fees | 0.00% to 0.50% |
Coinbase offers you a mobile-based app as your cryptocurrency wallet. The app uses biometric authentication technology for your private keys. It also has Secure Element Technology.
Supported Cryptocurrencies include BTC, LTC, ADA, XRP, DASH, NEO, TRX, etc. It is also one of the only apps that do not require a KYC registration. It is available in more than 100 countries with 89+ Million verified users.
Three steps to get started on Coinbase are :
- Create an account
- Link your bank account
- Start buying and selling
WazirX | Best Crypto Wallets 2022
| App Name | WazirX (Get Free Crypto by Signing up with this link) |
| Founders | Nischal Shetty |
| Founded In | 2018 |
| Deposit Fees | No Deposit Fee ( 0$ ) ( Free ) |
WazirX was founded in 2018, but eventually got acquired by Binance in 2019. WazirX is headquartered in Mumbai. It also launched its NFTs platform in March 2021. It also hit $38 Billion in trading which led to heavy user activity and server crashes. WazirX has also launched its own cryptocurrency named “WRX”. The total number of coins ever created will be 1 billion.
Why WazirX?
- P2P feature
- Fast
- Responsive
- INR Pair Volume is good
- More number of trading pairs
- Instant INR deposit
Get started :
- Download the app and signup
- Link bank account and deposit
- Start trading
CoinDCX | Best Crypto Wallets 2022
| App Name | CoinDCX |
| Founders | Sumit Gupta & Neeraj Khandelwal |
| Founded In | 2017 |
| Revenue | $19.9 Million / year |
| Deposit Fees | Free |
CoinDCX is one of the safest and most secure options for Crypto Trading. It was established in 2018 and solved major problems in the crypto industry.
Features of CoinDCX:
- Encrypts your password and data
- It is decentralized
- Supported on iOS and Android
- Stores 95% of the funds in cold wallets
- 0 Deposit Fee
- UPI is supported
Binance (Largest Crypto Platform in the world) | Best Crypto Wallets 2022
| App Name | Binance |
| Founders | Changpeng Zhao |
| Founded In | 2017 |
| Revenue | $20 Billion (in 2020) |
| Deposit Fees | Less than <0.10% |
You can buy, sell, trade over 600+ Cryptocurrencies from the largest crypto exchange platform in the world.
Features
- Supported on web, iOS, Android
- Provides 24/7 support
- Basic and advanced User interface
- Stores your assets with complete security
Note: KYC is required
Payment methods: Credit and debit cards, Cryptocurrency, Koinal, etc.
Electrum | Best Crypto Wallets 2022
| App Name | Electrum |
| Founders | Thomas Voegtlin |
| Founded In | 2013 |
| Deposit Fees | 0.2 mBTC |
It is one of the oldest BTC wallets available to date. It was mainly a desktop wallet but now also has a mobile app. It is accessible on Windows, Mac, Linux. It is an open-source wallet which proves that it is one of the safest. However, It only and only supports bitcoin transactions. Being a desktop wallet, it can easily integrate with popular hardware wallets.
Security features :
- Password: Your password and key is completely encrypted by Electrum
- Open-source: The code is available on the internet.
- 2-factor auth
- Seed backup
How to get started :
- It is completely free to use
- Install from the mobile app or the desktop client
Conclusion
This wraps up the top Cryptocurrencies wallets available in the Indian market. Some will be the Emerging stars that will improve the Crypto Sector and the growing Web3 world. The above wallets are handpicked among many and were curated because of your interest at Under20s. Thank you for reading.
FAQs | Best Crypto wallets 2022
Is buying cryptocurrency legal in India?
It is neither legal nor illegal right now, but the Government of India 2022 Budget has charged a 30% tax on crypto transactions.
What is a seed phrase?
It is a backup that helps you restore your wallet if you have lost it.
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