India is rapidly emerging as one of the biggest crypto markets in the world. Millions of Indians are exploring digital assets for speculative gains and as a legitimate part of their financial portfolios. But there’s one thing holding many people back: getting INR into a crypto exchange easily and safely.
This is where UPI (Unified Payments Interface) steps in. While the technology has revolutionized digital payments across India, its adoption in crypto apps is still catching up. And that’s a missed opportunity because, for most Indian investors, UPI is not just a payment method; it’s a habit.
In this blog, we’ll explore how UPI works, why its support in crypto apps is essential, which platforms offer it, and what risks investors face without it.
UPI, or Unified Payments Interface, is a real-time payment system developed by the National Payments Corporation of India (NPCI). It allows users to link their bank accounts to apps like Google Pay, PhonePe, Paytm, and others to send or receive money instantly, 24/7, even on holidays.
Unlike traditional methods that require account numbers and IFSC codes, UPI simplifies everything into one easy-to-remember UPI ID. Whether you’re buying groceries or splitting rent, UPI is fast, reliable, and incredibly easy to use. This simplicity has turned it into India’s most preferred way to pay, with over ₹18 lakh crore being transacted via UPI monthly as of 2024.
Behind the scenes, UPI support links your bank account with a virtual payment address. All you need is a smartphone and a UPI app to move money without touching a physical card or logging into net banking. It’s this convenience that makes UPI such a natural fit for mobile-first crypto users in India.
Let’s say you’re ready to invest in crypto, and you’ve found the perfect opportunity—say, a dip in Bitcoin or a trending altcoin. However, your crypto app doesn’t support UPI. Instead, you’re asked to use IMPS, NEFT, or load funds via a third-party wallet. Not only does this add layers of complexity, but it also introduces delays and additional costs. This is how and where UPI becomes a game-changer:
One of the biggest benefits of UPI is speed. In a market that never sleeps, being able to deposit funds instantly can be the difference between catching a dip or missing out entirely. With UPI-supported apps, INR deposits reflect in your account within seconds, without needing to wait for banking hours or business days. Withdrawals, too, are often processed in real-time, meaning your profits can be accessed just as quickly.
For instance, imagine Bitcoin drops from ₹35,00,000 to ₹33,50,000. If your funds take even an hour to reflect, the price may recover, and your entry opportunity is gone. Speed matters, and UPI makes sure your money moves as fast as the market.
Many traditional payment methods used in crypto apps come with processing fees. IMPS, net banking gateways, or prepaid wallets can cost you an additional 1–2.5% per transaction. Over time, especially for active traders, these charges can add up significantly. With UPI support, transaction fees are either negligible or entirely free, depending on the platform.
More importantly, UPI keeps things transparent. Investors know exactly how much they’re transferring, how much gets credited, and what, if any, deductions are made. That clarity builds long-term trust between users and platforms.
Let’s not forget that UPI is used by everyone, from students buying movie tickets to small shop owners accepting payments. For a crypto-curious beginner, the availability of UPI support as a deposit method removes the initial hesitation. There’s no need to set up a new wallet, understand card gateways, or even memorize long account numbers. Just enter your UPI ID and start investing.
Crypto adoption in India is growing most rapidly among 18–35-year-olds, many of whom are digital-native but not necessarily financially literate. The more we reduce friction in onboarding, the easier it is for these users to start investing smartly. Hence, UPI is a great equalizer in that regard.
Crypto can still feel intimidating to a large section of the Indian population. There are concerns around legitimacy, scams, and security. However, when a crypto app supports UPI—a system built and backed by Indian banks and regulatory bodies—it lends credibility to the platform. It sends a clear signal that the platform is localized, compliant, and built with Indian users in mind.
Even experienced users are more likely to continue using an app that offers a seamless deposit and withdrawal experience over one that doesn’t.
While UPI is a must-have for users, not all crypto apps have embraced it equally. Let’s look at how some leading platforms are handling it:
Here’s a comparison of how these crypto platforms in India have UPI support:
| Platform | UPI Support | Speed | Extra Fees | Notes |
| Mudrex | ✅ Yes | Near Instant | ₹0 | Best for beginners, easy UI |
| CoinDCX | ✅ Yes | Near Instant | May apply | Supports UPI via MobiKwik |
| WazirX | ✅ Yes | Few minutes | Up to 1.5% | UPI via wallet partners |
| Binance | ❌ No | N/A | N/A | Doesn’t offer UPI in India |
| ZebPay | ❌ No | N/A | N/A | INR support, but no direct UPI option |
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What happens when a platform doesn’t offer UPI? For starters, you’re likely to face slower deposits. Traditional methods like NEFT or IMPS aren’t instant, especially during non-working hours or bank holidays. This delay could mean missing out on time-sensitive trades or not being able to exit positions when you need liquidity the most.
Secondly, you’re probably going to end up paying more. Many platforms without UPI rely on third-party payment gateways or wallet integrations that charge high transaction fees. These charges may not be visible upfront, but they significantly impact your actual investment amount and profitability.
There’s also the issue of user experience. Crypto is already a new concept for many people. Asking them to deal with complex onboarding processes, external wallets, or long verification wait times can turn them off before they even begin. Add to that a lack of payment methods they trust, and the result is a frustrating—and sometimes risky—experience.
If platforms want to win in the Indian market, removing these roadblocks is not optional. It’s essential.
ALSO READ: Digital Assets Safety: 6 Tips for Securing Your Crypto
As India’s crypto adoption grows, the infrastructure supporting it must grow too. That includes how users deposit and withdraw money from their accounts. UPI has already proven itself as India’s go-to payment system. It’s secure, instant, and trusted by millions. For crypto platforms targeting Indian users, integrating UPI support isn’t just about convenience—it’s about building trust and growing adoption.
By offering UPI support, platforms eliminate friction, reduce costs, and make crypto feel like an extension of the financial tools users already trust. They’re not just simplifying transactions—they’re opening the gates to the next wave of investors. Mudrex stands out by offering full UPI support, zero hidden charges, and an interface built for Indian users.
Start investing with Mudrex today: Download the Mudrex app now!
UPI (Unified Payments Interface) is a real-time payment method that allows Indian users to deposit or withdraw INR instantly in supported crypto apps.
It’s faster, cheaper, and more familiar. Apps with UPI support simplify the investment process and make crypto more accessible to Indian users.
UPI is regulated by NPCI and operates with strong encryption. When used on trusted apps like Mudrex, it is a safe way to manage INR transactions in crypto.
Platforms like Mudrex, CoinDCX, and WazirX support UPI.
Apps like Mudrex allow seamless INR withdrawals directly to your bank account through UPI, ensuring fast and hassle-free access to your funds.
