Blockchain adoption has been at all-time high in last one decade. With widespread acceptance, blockchain is also subject to criticism from deployment to sensitive data exploitation in blockchain applications. Blockchain wallet is an essential part of blockchain framework and contains the most sensitive data of blockchain application. In 2020, out of 122 blockchain attacks, 27 were found to be solely focused on the wallet. Even though the comparison and analysis of various types of wallets are available on the market, there is no collective mapping of the best wallets in use. This study delves into wallet types, how they work and a comparative analysis of the state of the art on wallets that are currently in use. Presented research study is also helpful in designing a wallet and also gives assistance in choosing a wallet according to the requirement. The findings seem useful for developers and end-users at large, as it brings about the features of the current wallets in use and also proposes a novel design for blockchain wallets.