Top Rated 10 Cryptocurrency Wallet Facilities Available for Indian Investors
While investing in cryptocurrencies in India, you must know about these cryptocurrency wallet facilities.
A crypto wallet is a place that safely and securely stores an individual’s cryptocurrencies. They function similar to how bank accounts work. The only difference is that with crypto wallets, users have access to their private keys. This enables users to become the custodian of their own funds. Wallets are essentially a safe place to store, manage and track an individual’s crypto holdings and they can come in both physical and digital forms. Here are the top 10 cryptocurrency wallet facilities available for Indian investors.
MetaMask is mainly a browser extension wallet. While it can be downloaded onto mobile devices, it is mainly used on Chrome, Brave, and Firefox to bridge the gap between web applications and the Ethereum blockchain. This makes it possible to transact with cryptocurrency on typical websites. What makes MetaMask good is that it is fully open source. This means that the code can be scrutinized, reviewed, and improved by the community to ensure security and constant improvement. MetaMask is one of the easiest crypto wallets to use for beginners and it has great support pages for when users encounter problems. However, MetaMask does have its downsides. Because it is mainly supposed to be used to interact with internet browsers, users’ private keys are always online. For some people, this poses significant security risks. While MetaMask facilitates a great way to transact in crypto with web applications, it wouldn’t be ideal to store large amounts of value indefinitely.
The Crypto.com wallet is just one product that is included in the wider Crypto.com DeFi ecosystem. With the Crypto.com wallet, users have full control over their funds in an easy-to-use application that can store and manage over 100 different cryptocurrencies. On top of that, users can also earn interest on over 35 currencies with no lock-up terms and great yields. There is even a swap feature that enables users to trade their crypto directly in their wallet. Users’ funds are encrypted locally on their devices and protected by both Biometric and two-factor authentication.
Nexo is a unique platform that allows users to earn significant interest on their cryptocurrency holdings. Interest rates vary, but investors can expect to earn between 6%-12% APR on their investments. On top of that, Nexo also enables users to take out crypto collatorised loans. This is a great feature because it means that investors no longer need to sell their assets if they are in need of quick capital. Nexo is ideal for long-term investors that want to maximize their gains and earn interest on their holdings.
BlockFi is very similar to Nexo in the sense that it allows investors to earn significant interest on their cryptocurrency investments. BlockFi also enables users to take out crypto collatorised loans. BlockFi and Nexo can be seen as nearly identical with minor differences to APY and user interfaces. When it comes to choosing between the two, it comes down purely to personal preference and geographical locations.
Coinbase is primarily a cryptocurrency exchange however they do have their own crypto wallet that allows users to store over 500 different cryptocurrencies. Currencies that Coinbase supports include, BTC, ETH, USDT, USDC, LINK, and LTC. On top of that, Coinbase also has a chrome extension that allows users to use their crypto in a browser, similar to how MetaMask does, while their private keys are secured on their mobile devices. The Coinbase wallet is ideal for investors who consistently use the Coinbase trading platform.
Trezor is the first hardware wallet included in this list. Trezor wallets can store more than 1,500 different cryptocurrencies offline and away from the malicious dangers of internet connections. These devices plug directly into your computers or smartphones. They are also compatible with the majority of devices and crypto applications and are one of the best choices for individuals in need of a hardware wallet.
TrustWallet is a decentralized mobile-only crypto wallet. It supports over 160 digital assets and allows users to use certain cryptocurrencies to earn interest. TrustWallet was originally developed to only store ERC-20 tokens. However, it has since been improved to store other cryptocurrencies including Bitcoin, Litecoin, XRP, and Polkadot. Users can also purchase and trade cryptocurrencies through the native decentralized exchange integrated into the application.
PTPWallet is a crypto wallet that enables users to send crypto instantly, securely, and privately. Whereas most wallets only enable users to send and receive crypto payments via wallet addresses or QR codes, PTPWallet also enables users to send and receive payments via any platform they want. This is possible because of PTPWallet’s iTransfer feature. On top of this, PTPWallet can facilitate instant transactions, something not many other wallets can do. PTPWallet is also very flexible with outside API integrations which makes it ideal for companies looking to adopt a crypto, white-label wallet and transaction platform. The platform will soon be integrating its own exchange which will provide users with a way to trade their funds in the same platform that they store them. This is convenient for users as it allows them to store, manage and trade their cryptocurrencies all under one trusted platform. PTPWallet has also expressed that the platform will house over 50 currencies throughout the coming months. This makes it one of the most comprehensive and easy-to-use crypto wallets on the market.
Ledger wallets are hardware wallets that store users’ cryptocurrencies in an offline device. Ledger wallets are about the size of a USB flash drive and they connect to mobile devices or computers to gain access to stored digital assets. The devices are surrounded by a stainless steel case which makes them very durable. Ledger devices can support an outstanding number of cryptocurrencies and the platform even supports cryptocurrency staking so users can earn interest on their investments. Storing cryptocurrency on Ledger devices is one of the most secure ways to manage funds.
Exodus is a software wallet for laptops, desktops, and now mobile devices. The digital wallet offers an extremely easy-to-use and attractive user interface that provides access to multiple applications, including an exchange that enables users to trade directly in their wallets. Exodus automatically generates graphs and charts based on investors’ portfolios, which makes it super easy to track and manage funds. There is also no need for KYC verification and the wallet even provides users with live chart prices and updates which allows them to monitor and trade market movements all under one easy-to-use platform.