If the title of this article would have been written a decade ago, it might have sounded true. But with Bitcoin surpassing the $1 Trillion market cap and the magical figure of $50,000 price mark, even the idea of earning FREE bitcoins seems like a wild dream.
However, that being said, in this article, you will find some really interesting ways through which you can earn Bitcoin for FREE, like literally. In fact, one of the methods in this article is going to shatter the old age proverb of “To Make Money, You Need Money”. However, this is not the case with Bitcoins.
Introduction
Bitcoin is, without a doubt, one of the most precious assets in the world right now. With Bitcoin’s price surpassing its previous all-time-highs, it has become the talk of the town in India as well. And with that, it has also reached to the ears of hackers and scammers from whom your Bitcoin needs to be protected.
In this article, we will talk about the best bitcoin wallets in India that you can use to store, protect & safeguard your bitcoins from such hackers and scammers.
Classifications of Bitcoin Wallets
There are many types of Bitcoin wallets that are available. We can basically classify them into 2 different categories.
1. Hot Wallets
Hot wallets are the most popular & used ones in the crypto ecosystem right now. Hot wallets are the kind of wallets that can be accessed from any part of the world. This means they are connected to the internet and hence are prone to attacks from hackers and scammers. In terms of regular trading, they are generally more preferred over cold wallets. Exchange wallets & non-exchange wallets come under the category of Hot Wallets other than hardware wallets.
2. Cold Wallets
Cold wallets are generally known for their security features since it is very difficult to hack them. Cold Wallets are not connected to the internet which makes remote hacking next to impossible. Cold Wallets are usually used to store Bitcoins safely and in a secure mode.
Types of Bitcoin Wallet in India
In India, you can get all the type of Bitcoin wallets ranging from cold wallets to hot wallets.
1. Ledger NANO S Review and Price in India
About
Ledger NANO S is one of the best hardware wallets available in the market. Ledger NANO S is a USB stick type of hardware wallet that supports over 30 cryptocurrencies like Bitcoin, Ethereum XRP, and many more.
Price
Ledger NANO S costs around 6499 INR in India.
Pros
- It is light in weight. Weighs only 16.2 Grams and is very compact.
- It is compatible with most of the operating systems like Windows, Mac & Linux.
- It comprises only 2 physical buttons that are used to execute all actions.
- Secure Chip (ST31H320 + STM32F042.)
- No battery required
Cons
- Need to keep track of the physical device to access your cryptocurrencies.
2. Ledger NANO X Review and Price in India
About
Ledger NANO X is another high-end device from the LEDGER hardware wallet company which comes in the form of a USB stick. It supports over 27 cryptocurrencies like Bitcoin, Ethereum, XRP, and more.
Price
Ledge NANO X costs around 12,999 INR in India
Pros
- Bluetooth enabled
- Light in weight. Weighs only 34 grams
- Secure chip (ST33J2M0 + STM32WB55)
- Compatible with most of the operating systems like Windows, Mac, and Linux.
Cons
- Relatively more expensive
- Need to keep track of physical USB stick to access cryptocurrencies
- Need to power up the battery for operations.
3. Trezor Model T Review and Price in India
About
Trezor Model T is one of the most popular Bitcoin hardware wallets in the market. It comes with a USB Type C connector. It can support over 8 cryptocurrencies and 1000+ ERC20 tokens.
Price
Trezor Model T costs around 14,999 INR in India
Pros
- Touch screen
- Extremely light in weight. Weighs only 16 grams
- Fast processor – 168 MHz embedded ARM processor (Cortex-M4)
- Compatible with most of the operating systems like Windows, Mac, and Linux.
Cons
- Very expensive
- Need to keep track of physical USB stick to access cryptocurrencies
4. Exodus Wallet Review and Price in India
About
Exodus Wallet is a desktop-based bitcoin wallet that stores your cryptocurrency private keys on any operating system like Windows, Mac or Linux.
Price
You can download Exodus wallet free of cost.
Pros
- Remote access
- Built-in exchange
- Supports 125+ cryptocurrencies
- QR scan available for wallet address
Cons
- Wallet Security depends on your device’s security
- Regular software updates needed.
FAQ On Bitcoin Wallets
Which bitcoin wallet is the best one for me? Hot wallet or Cold wallet?
It totally depends on your usage. If you are a trader, a hot wallet is probably the best one for you because of frequent trading activities that can be executed remotely. However, if you are a long-term crypto holder (like 6+ months), a cold wallet is a better option for you because it will keep your funds safer than hot wallets.
Why there is such a huge price discrepancy in Hardware Wallets?
Hardware wallets come in many forms ranging from their built quality to the number of cryptocurrencies they support to the kind of processor they have. Every aspect has a different price point and so it reflects in its final price. That being said, in terms of safety, they are the best in the market.
What if I lose my wallet? Are my cryptocurrencies lost?
No. Even if you lose your wallet, you can still get your cryptocurrencies back. However, that being said, you need to safely store your “12 Words Recovery Phrase” which is shared with you while you set up your wallet for the very first time. When your wallet is lost, you can enter this special “12 Words Recovery Phrase” and then recover your cryptocurrencies. We advise you to keep a written copy of this “12 Words Recovery Phrase”.
What if I lose my wallet and don’t have my “12 Words Recovery Phrase”?
In such a case, your wallet and assets in it are lost forever. Neither the company nor the cryptocurrency projects are liable for your loss.
Yes, you read that right. The Internet has pumped the scope of globalization to a whole new next level. And due to COVID-19 situation, the intense rise in work from home has pushed the ‘gig economy’ even higher.
There are many websites like Steemit, Blockchain.news, Publish0X and many more where you can write articles and share your content to get paid in Bitcoin in return. Some websites don’t pay in Bitcoin but in other crypto currencies. But you can anyway convert them to Bitcoin via Cofinex spot trading.
Your Bitcoin earning on these websites will depend on how much engagement your content is bringing in and based on that, you will earn your Bitcoin.
Make Your NFT & Sell Them
NFT is currently the biggest hotshot in the whole crypto market which is steadily gaining its momentum in the conventional market as well. Many celebrities like Paul Logan, Lindsay Lohan & Mark Cuban have been leveraging the popularity of NFT and have made millions of dollars.
NFT stands for Non-Fungible Token where you can simply digitize your artwork and sell it online. NFTs has many critics questioning the true ownership of such assets. But that being said, you can simply digitize your physical artwork by clicking a picture of it on your smartphone, converting its JPEG or PNG file into an NFT via Rarrible.com and then sell it on NFT marketplaces like Rarible or Opensea.
NFT are usually sold for Ethereum and not for Bitcoin. However, once you earn ETH, you can always use Cofinex Spot Trade to convert the ETH to Bitcoin.
Conclusion
So these were some of the ways through which you can earn free Bitcoin in India. There are plenty more websites in India that give you free Bitcoin but most of them work around the same concept.
With Bitcoin prices rising since March 2020, many people are planning to hold on to their Bitcoin for a very long time. Also, since the Bitcoin supply in the market is going down (Bitcoin Halving), Bitcoin is getting rarer year by year. Hence, earning FREE Bitcoins in such times is just pure GOLD.
What do you think? Share this article on your social media channel and let your friends know about it.
