1. Is it safe to store crypto on exchanges in India?
Exchanges are convenient but risky since you don’t control private keys. Wallets offer better protection against hacks, freezes, and platform shutdowns.
2. Do crypto wallets require KYC in India?
No, wallets themselves don’t require KYC. However, KYC applies when converting INR through exchanges or centralized platforms.
3. Which wallet is best for beginners in India?
Software wallets like MetaMask or Phantom are easy to start with, while hardware wallets like Ledger offer higher security for long-term storage.
4. Can I use one wallet for multiple cryptocurrencies?
Yes, multi-chain wallets such as Exodus and Ledger support dozens of blockchains and tokens from a single interface.
5. What happens if I lose my wallet or phone?
Your funds can be recovered using the recovery phrase or backup method, which is why securely storing it offline is critical.