Best Crypto Wallet in India for 2025

India’s crypto market is booming. With over 100 million users and growing interest from everyday investors, the country has become one of the world’s most active hubs for digital assets. But while buying crypto might seem like the first step, it’s not the most important one—storing and managing it securely is.

Many Indian users still rely on custodial platforms like exchanges or payment apps to hold their crypto. These may seem convenient, but they come with serious risks. When you don’t control your private keys, you don’t truly own your assets. Your account can be frozen, mismanaged, or even hacked.

That’s why choosing the right crypto wallet matters. In this guide, we explore the different types of wallets available to Indian users in 2025, from custodial accounts (meaning, accounts that you create on centralized exchanges like Binance) to software wallets and also hardware wallet options. 

We discuss what hardware wallets are, clear out the confusion with ‘hot’ vs ‘cold’ storage for private keys, explore the differences between hardware wallets and software wallets and share insights to help you choose the best crypto wallet in India, one that aligns with your experience level, goals, and security needs.

We also give a full rundown of the best hardware and software wallets available in India today and explain the difference between custodial and non-custodial solutions.

Top Crypto Wallets in India for 2025

Let’s start with the basics of a crypto wallet. 

What Is a Crypto Wallet and How Does It Work?

A crypto wallet is exactly what the name implies. In the physical world your wallet is the place where you keep your cash and bank cards. A crypto wallet stores the keys that let you interact with blockchain networks, manage your assets, and authorize transactions.

Your wallet manages your blockchain credentials, specifically your public and private keys. These keys are essential for sending, receiving, and storing cryptocurrencies 

According to a 2024 Chainalysis report, India has led the world in crypto adoption for the two consecutive years despite strict regulatory conditions. It ranked at the top across over 150 countries based on centralized and decentralized crypto usage. On the other hand, while wallets themselves are not regulated in India, any INR deposits/withdrawals to a wallet via a third-party service must comply with KYC and tax rules.

Hardware Wallet vs. Software Wallet

Four terms frequently arise when discussing crypto wallets: hardware wallet, software wallet, cold wallet, and hot wallet. Sometimes these terms are used interchangeably, but their meanings are different and it’s worth understanding the differences.

Here’s how to tell them apart:

• Hardware wallet: A physical device that stores your private keys offline. Since the keys never leave the device or touch the internet, they are protected from online threats. Ledger Flex and Ledger Stax are examples of hardware wallets.
• Software wallet: A mobile app, desktop application, or browser extension that stores your private keys in software like a computer or smartphone. These devices are connected to the internet. 

This is where the terms hot and cold come into play.

• Hot wallet: Any wallet that is connected to the internet. Most software wallets fall into this category, which makes them more vulnerable to phishing, malware, and other online attacks.
• Cold wallet: A wallet that keeps your private keys completely offline. Hardware wallets are cold by design. So are paper wallets, where you write your keys on a piece of paper which is stored physically. 

The key difference to remember is this:

• Hardware vs. software refers to the type of wallet.
• Hot vs. cold refers to whether or not it is connected to the internet.

A hardware wallet is typically a cold wallet, but not all cold wallets are hardware-based. A software wallet is usually a hot wallet, but there are exceptions where software wallets are used in completely offline setups.

Understanding this difference helps you make informed choices about how you manage and protect your crypto assets.

Best Hardware Wallets in India for 2025

Here Ledger Academy takes a look at the very best hardware wallets you can own in 2025.

Ledger Stax

Ledger Stax is Ledger’s most advanced and premium wallet to date. Created in collaboration with Tony Fadell, designer of the iPod, Ledger Stax brings high-end design and usability to the overall experience of engaging with digital assets

The premium crypto wallet has a large 3.7” E Ink touchscreen that is both customizable and wraps around the device to its spine. Like all Ledger devices, the screen is controlled directly by the Secure Element chip, ensuring that what you see is what you sign. No spoofing, no surprises.

Thanks to a larger screen Ledger Stax makes it easy to manage your assets, authorize transactions, and view details much more intuitively than ever before. Powerful in-built magnets allow you to snap and stack multiple devices together. 

• Secure element chip: Yes
• Touchscreen: 3.7” E Ink touchscreen
• Bluetooth: Yes
• NFC: Yes
• Charging: Wireless

Ledger Flex

Launched in 2024, Ledger Flex represents the next generation of secure hardware wallets. Designed for everyday usability without compromising on security, it features a 2.8” E-Ink touchscreen and a smooth, intuitive interface.

The screen is driven directly by Ledger’s Secure Element chip, offering full resistance to malware and spoofing – something your phone or laptop can’t guarantee.

Like all Ledger wallets the Ledger Flex couples with the Ledger Live wallet app available on Windows, macOS, Linux, iOS and Android. Ledger Live allows you to buy, sell, swap, and stake your assets, with transactions securely executed by your Ledger hardware wallet.

• Secure element chip: Yes
• Touchscreen: 2.8” E Ink touchscreen
• Bluetooth: Yes
• NFC: Yes
• Charging: USB-C

Ledger Nano X

The Ledger Nano X, introduced in 2019, is a mobile-friendly device for everyday use. The Nano X has a 128 x 64 pixel LED secure screen and bluetooth compatibility, making it easy to control. Though the Nano X does not come with the benefits of a secure touchscreen, it is an award-winning Ledger device from its lineage that combines the best of portability, wireless connectivity, and a user-friendly interface.

Ledger Nano X supports up to 100 apps, 1,800 coins, and is compatible with over 50 wallets, making it a solid and dependable option.

• Secure element chip: Yes
• Touchscreen: No
• Bluetooth: Yes
• NFC: Yes
• Charging: USB-C

Top Hardware Wallets in India

Best Software Wallets In India of 2025

Five of the most popular software wallets which are all available and accessible in India today.

MetaMask

MetaMask is one of the longest serving software wallets in blockchain, developed by Consensys with a focus on the Ethereum ecosystem. MetaMask is a downloadable browser extension compatible with Chrome, Firefox, Brave, Opera, and Edge.

Since MetaMask is a hot software wallet it is not recommended for storing large sums in crypto. This is because hot wallets are a regular target for hackers. According to a July 2025 report released by the blockchain data analysis firm Chainalysis, nearly 500 MetaMask wallets were compromised in a single day in late 2024. While the specific attack vector can’t always be identified, common attacks include keyloggers, malicious apps and browser extensions as well as other forms of malware.

The threat from unscrupulous individuals and organized crime groups continues. As recently as June 6, 2025, 226 MetaMask wallets were hacked in a day. This spike was driven largely by coordinated exploitation of wallet software vulnerabilities and malicious third-party infrastructure like harmful browser extensions or deceptive dApps.

Users of hot wallets can take remedial steps to mitigate some of the risk, but not all. For instance, it is important to remain cautious when interacting with unfamiliar websites or smart contracts). Do your research before logging on to any protocol with MetaMask for the first time. 

• Wallet type: Non-custodial hot software wallet
• Blockchains: Solana, Ethereum, Base, Polygon, and Sui
• Browsers: Chrome, Firefox, Brave, and Edge
• Mobiles: Android and iOS
• Released: 2021

Phantom

Phantom is a popular software wallet initially developed for Solana, later expanding to multi-chain support including Ethereum. Compatible with Chrome, Firefox, Brave, and Microsoft Edge, this hot wallet is known for its ease of use and non-fungible token (NFT) support.

Phantom allows users to make direct in-wallet purchases of Solana (SOL), Ethereum (ETH) and Bitcoin (BTC). The wallet also offers native staking of Solana (SOL) to allow users to earn from the Solana they hold on Phantom.

Phantom can also be connected with Ledger devices allowing users to enjoy Phantom with all its benefits. You’ll be able to send/receive, swap, approve dApp transactions, and manage NFTs (including Bitcoin Ordinals/BRC-20s) with each transaction confirmed on your Ledger device. . It works across Solana, Ethereum, Polygon, Base, and Bitcoin in Phantom, and you can even stake SOL directly from a Ledger account inside Phantom. This is a safer way to explore the Solana ecosystem while using a Phantom wallet.

• Wallet type: Non-custodial hot software wallet
• Blockchains: Solana
• Browsers: Chrome and Brave
• Mobiles: Android and iOS
• Released: 2020

Solflare

In recent years the Solana blockchain has witnessed a surge in users, mainly thanks to its support for meme tokens including BONK (BONK) and Fartcoin (Fartcoin).

That popularity has also driven innovation in other areas. Solflare is another hot software wallet focused on the Solana ecosystem for both tokens and NFTs. Solflare further enables direct in-app token purchases, making a compelling offering for memecoin traders. It also allows staking of SOL on the Solana network.

Solflare connects directly to Ledger devices, so you initiate actions in Solflare, but every transaction is reviewed and signed on your Ledger secure screen or secure touchscreen, with your private keys staying on the device in an offline environment; the secure element chip (and not in Solflare).

• Wallet type: Non-custodial hot software wallet
• Blockchains: Solana
• Browsers: Chrome and Brave
• Mobiles: Android and iOS
• Released: 2020

Exodus

Exodus is a multi-chain hot software wallet with Bitcoin support. Available on mobile, desktop and web browsers, Exodus is a versatile and powerful offering which opens the door to decentralized finance and Web3 on over 50 chains.

In April 2025 researchers at the security firm Reversing Labs revealed how a seemingly legitimate software purportedly designed to convert Adobe .pdf files to Microsoft Office documents was hijacking and draining Exodus wallets. The seemingly legitimate tool contained a trojan file that persisted even when the initial program was removed, posing a significant ongoing risk.

Reversing Labs flagged the ‘pdf-to-office’ package and it has now been removed from legitimate platforms. 

There are ways to mitigate the risks of using hot wallets such as Exodus. Thanks to a September 2024 collaboration with Ledger, Exodus is also compatible with Ledger hardware wallets.  Simply connect your Ledger device to Exodus Mobile and manage separate Ledger accounts inside Exodus. Every transaction is reviewed and signed on the Ledger device secure screen or secure touchscreen, so your keys never leave it.

• Wallet type: Non-custodial hot software wallet
• Blockchains: Bitcoin, Ethereum, Dash, Litecoin, EOS, Gnosis and more
• Browsers: Chrome and Brave 
• Mobiles: Android and iOS
• Released: 2016

Backpack

Backpack is a multi-chain software hot wallet for Chrome, Brave and Arc browsers. It is also available on iOS, Android and Google mobile devices.

Like all hot software wallets it is best practice to only hold enough crypto on Backpack for day-to-day use and interacting with Web3 protocols. Larger sums in cryptocurrency are best held on a hardware wallet.

Backpack also offers staking features for Solana, allowing users to accrue staking rewards in the form of bpSOL tokens. For safer offline storage assets on your Backpack wallet can be transferred to offline storage.

Backpack wallet supports native integration with Ledger devices. All hardware wallet–connected transactions still require physical approval on the secure screen or secure touchscreen of the device itself. Backpack still functions as a hot software wallet, but now you can pair it with Ledger to securely sign transactions with Clear Signing enabled, while keeping your private keys offline. 

• Wallet type: Non-custodial hot software wallet
• Blockchains: Solana, Ethereum, Optimism, Arbitrum, Polygon and more
• Browsers: Chrome, Brave, Arc
• Mobiles: Android and iOS
• Released: 2022

Best Custodial Wallet in India of 2025

Custodial wallets are apps or exchanges where the private keys to your wealth are held by the service provider. These services may have some short term benefits, but in the event of a problem such as bankruptcy or a hack, you may lose all access to your funds. In July 2024 the hack of Indian exchange WazirX meant users lost 45% of their balances.

Now you understand the risks, let’s take a look at the best custodial solutions available in India in 2025.

CoinDCX

CoinDCX is among the most popular exchanges in India, with over 500 cryptocurrencies available for trading. You can buy, trade and store your cryptocurrencies on CoinDCX although keeping large sums on an exchange is not advisable.

On July 19, 2025, CoinDCX fell victim to a $44.2 million hack when one of its hot wallets used for day-to-day operations – such as facilitating customer trading – was compromised. CoinDCX quickly assured customers their funds were safe and they would absorb all losses. 

Days later, Bengaluru police arrested a CoinDCX software engineer; investigators allege he was duped by a fake freelance job into installing malware on his office laptop, exposing credentials used in the breach. CoinDCX has also posted a bounty of up to $11M (25% of recovered funds). 

For context, WazirX was hacked for ~$230M in July 2024; as of late July 2025 it’s still running a court-supervised revote on its restructuring scheme before token distributions and a phased restart, meaning many users are still waiting for full access. 

While $44M was stolen, cold storage holdings still prevented a more severe breach. This highlights why exchanges generally safeguard the bulk of their reserves in offline wallets. But even then, without secure self-custody and an airtight security model, funds are not as safe as they could get.

For users who do choose to hold part of their funds on CoinDCX, the platform offers advanced trading options and features including long and short positions and leveraged trading. 

CoinSwitch

CoinSwitch is a popular option among Indian cryptocurrency traders. It has 200 cryptocurrencies available. CoinSwitch also offers advanced chart features and analytical tools, useful for high-volume day traders seeking to time the market.

In January of 2025 CoinSwitch announced a recovery and rewards program for users who had lost money in the $230 million hack of rival exchange WazirX in 2024. WazirX attempted to pass  45% of losses directly on to customers in the aftermath of the hack.

ZebPay

ZebPay is one of India’s leading cryptocurrency exchanges with over 100 cryptocurrencies to choose from. The exchange enables customers to buy, sell and hold cryptocurrency on the platform after sign-up, requiring a valid phone number and email address.

In 2020 ZebPay paid an undisclosed penalty fee to the Indian government for what it described as an “accounting error.” The error came to light after an investigation by authorities found violations. Like all custodial solutions users must trust the exchange to manage the funds properly, as final control rests with the exchange.

UPI payments were briefly blocked on exchanges like WazirX and CoinSwitch in 2022 after regulatory uncertainty, but as of 2025, most RBI-registered Indian crypto platforms have reinstated UPI deposits.

Whether signing up to CoinDCX, CoinSwitch, or ZebPay users must also submit personal details including their PAN and Aadhaar card numbers as part of India’s Know Your Customer (KYC) regulatory requirements. 

Best Non-custodial Wallet in India of 2025

Non-custodial wallets include both software and hardware wallets, but the best option by far is a hardware wallet. This is because hardware wallets, like Ledger devices,offer the same functions as a custodial wallet but place full control of your financial decisions in your hand. 

Ledger devices

With a Ledger device and the Ledger Live app, you can just as easily buy, sell, swap, stake, DCA, and even tokenize your assets, but with the added benefit of offline security for your private keys to retain control over your assets. 

Ledger devices sit at the forefront of cryptocurrency wallet technology, built with Secure Element chips impregnable to malware and malicious actors. 

Ledger devices also integrate with Ledger Live, enabling the purchase of cryptocurrencies with the Indian Rupee (INR). Ledger Live is supported by Windows, Mac, Linux, Apple or Android offering a quick, powerful solution for buying and managing your cryptocurrencies and NFTs.

To purchase a Ledger device in India, you can either order via the official Ledger website*, the official Ledger shop on Amazon.in , or on Etherbit.in, Ledger’s official reseller for India.  

Best Crypto Wallet for Beginners for 2025

The best crypto wallet is one which aligns with your specific needs. Memecoin traders will desire a wallet that integrates with the Solana such as Phantom, but those looking to acquire Bitcoin may look to Exodus.

For users who don’t want to juggle multiple software wallets all these areas are covered by Ledger devices and Ledger Live.

Users who are interested in day trading may also wish to consider signing up to one of the custodial solutions we covered earlier in this piece such as CoinDCX or CoinSwitch.

Conclusion

With the information and knowledge contained in this article you should now be fully prepared to enter the world of cryptocurrency with confidence and total peace of mind. India today is a top crypto adopter, with one of the largest and fastest-growing communities of digital asset holders worldwide. 

Millions of Indians are experimenting and exploring with Bitcoin, Ethereum, and a wide range of altcoins, making secure self-custody an essential part of the journey.

As India pushes forward with UPI, CBDC pilots, and its booming fintech sector, the importance of secure crypto storage cannot be overstated. By combining strong security practices with the right tools, Indian investors can confidently embrace the opportunities of the digital economy and diversify their portfolios while protecting their long-term wealth.

With the government continuing to refine its policies on taxation and digital assets, protecting your holdings with trusted hardware Ledger devices ensures you remain in full control, and .the best way to hold your cryptocurrency for the long haul and explore web3 in complete confidence is by using Ledger’s top of the line hardware devices; the Ledger Stax, or alternatively, the Ledger Flex. These next-gen devices grant you a perfect balance of personalization, security, and ease-of-use.

For more information on crypto in India, including how to begin trading, how to set up a purchase plan, and the tax implications of ownership, you can read our piece Crypto in India: The Ultimate Guide.

FAQ

What is the most secure type of crypto wallet?

For Indian cryptocurrency owners the most secure type of crypto wallet is a cold wallet not connected to the internet. Hacks of centralized exchanges in India, including WazirX and more recently, CoinDCX, serve to illustrate why custodial solutions are risky. Of the options available on the subcontinent, hardware wallets by Ledger are the most secure.

What is the best cryptocurrency wallet?

The best cryptocurrency wallet is one which serves your needs in a safe and secure fashion. Some Indian users prefer to use more than one wallet, keeping a small amount on a hot wallet like ZebPay or CoinSwitch for day to day trading while preserving the bulk of their wealth on a Ledger cold wallet.

What is the best crypto cold wallet?

We’re admittedly biased, but our next generation of hardware cold wallets which include both the Ledger Flex and Ledger Stax offer unparalleled safety, security and ease of use. In over ten years as an industry leader in the blockchain industry a Ledger wallet has never been successfully hacked.