Use the platform MUDREX - https://mudrex.com/learn/how-to-buy-bitcoin-in-india-using-upi/
1. Is it legal for Indians to buy crypto using UPI?
Yes, buying crypto using UPI is legal in India if you use an RBI-registered platform supporting KYC, such as Mudrex. While crypto is not legal tender, you can legally buy and sell it on compliant exchanges after completing KYC.
2. What documents are required to buy crypto?
You need to complete KYC by providing an Aadhar Card or PAN Card for verification.
3. Can I withdraw INR after selling crypto?
Yes. Mudrex allows you to sell crypto, convert it to INR, and withdraw funds to your Indian bank account via UPI.
4. Step-by-Step: Buying Crypto on Mudrex with UPI
Step | What To Do |
---|---|
Step 1: Register | Sign up on Mudrex using your email or mobile number. |
Step 2: Complete KYC | Upload and verify your Aadhar Card and PAN Card. Account verification usually finishes within a few hours. |
Step 3: Deposit INR via UPI | Log in, select “Add Funds,” choose UPI as payment, enter the amount and your UPI ID (Google Pay, PhonePe, Paytm, etc.), and approve the payment request in your UPI app. |
Step 4: Buy Crypto | Once your INR is deposited, go to the crypto buying page, enter the amount, check the market price, and confirm your order. The crypto will be credited to your Mudrex wallet. |
5. Benefits of using UPI:
Fast and seamless INR transactions.
No need for a debit/credit card.
Most exchanges offer zero-fee UPI deposits.
UPI transactions are two-factor authorized and linked to your mobile device.
Accessible for anyone with a smartphone and Indian bank account.
6. Is it safe to use UPI for crypto on Mudrex?
Yes, as long as you use reputable platforms with strong encryption and 2-factor authentication. Always use unique, strong passwords and do not store large funds on exchanges long-term.
7. Which UPI apps are accepted?
You can use commonly available UPI apps like Google Pay, PhonePe, or Paytm. Simply provide your UPI ID during deposit.
8. Can beginners use Mudrex easily?
Yes. Mudrex is designed for both beginners and advanced traders, with a user-friendly interface, low fees (0.1%), and responsive customer support.
9. What if my UPI deposit fails?
Double-check your UPI ID and app approval.
Ensure you have sufficient balance.
Contact Mudrex support if issues persist.
10. How is withdrawing INR done?
Once you sell crypto, choose the “Withdraw” option, select UPI as the method, enter your bank-linked UPI ID, and confirm the withdrawal. The amount reflects in your bank account after processing.mudrex
By following the above steps, any Indian resident with an active bank account and UPI can purchase cryptocurrencies safely and legally on Mudrex using just their smartphone.
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