How to Buy Bitcoin with PhonePe in India
PhonePe has become the preferred UPI app for hundreds of millions of Indians, and if you’re one of them, you’re already set up to buy Bitcoin. On Mudrex, PhonePe works as a seamless payment method to fund your INR wallet, from which you can purchase Bitcoin in just a few steps.
No credit card required. No complicated wire transfers. Your PhonePe app and a verified Mudrex account are all you need to get started.
Before You Begin
Before you try to buy Bitcoin with PhonePe, make sure you have:
- The Mudrex app downloaded on your phone (Android or iOS)
- A KYC-verified Mudrex account
- PhonePe installed and linked to your bank account
How to Buy Bitcoin in India with PhonePe: Step-by-Step Guide
Step 1: Set Up Your Mudrex Account
First-time users need to download the Mudrex app and register using a phone number and email ID. Verify both with OTPs, then complete the KYC process using your PAN and Aadhaar. Your account will be active once KYC is approved.
Already have a verified account? Go straight to Step 2.
Step 2: Deposit INR Using PhonePe
Launch the Mudrex app and tap “Add INR” from the home screen. Enter the INR amount you want to add and hit “Continue to Pay.”
On the next screen, you’ll see several UPI apps listed as payment options. Choose PhonePe. The app will redirect you to PhonePe to complete the payment. Verify the amount and enter your UPI PIN to authorise the transfer.
As soon as PhonePe confirms the transaction, your Mudrex INR balance will reflect the deposit.
Step 3: Find Bitcoin in the App
Now that your account is funded, tap the search bar in the Mudrex app and search for “Bitcoin” or “BTC.” Select it from the dropdown to land on Bitcoin’s trading page.
Step 4: Initiate a Buy Order
Tap the “Buy” button at the bottom of the screen. A prompt will appear asking whether you’d like a one-time purchase or a recurring investment (SIP). Select “One-time” to proceed with a direct purchase.
Step 5: Set Your Investment Amount
Enter the amount in INR you’d like to invest. Before you confirm, Mudrex will display a complete breakdown of fees, the net BTC purchase amount after those fees, and the exact quantity of Bitcoin you’ll receive.
Take a moment to go through these details.
Step 6: Complete Your Purchase
Tap “Continue” to place your order. The transaction is processed in real time, and your Bitcoin will appear in your Mudrex portfolio right away.
Start Tracking Your Bitcoin
Once purchased, your BTC is visible in your Mudrex portfolio. You can monitor its value, buy more, or set up a recurring investment to grow your holdings steadily over time.
For support, write to help@mudrex.com anytime.
Frequently Asked Questions
Q1. Can I use PhonePe directly to buy Bitcoin?
PhonePe doesn’t have a built-in feature for crypto purchases. However, you can use it as a UPI payment option on Mudrex, transfer INR from PhonePe into your Mudrex wallet and use those funds to buy Bitcoin on the exchange.
Q2. Is buying Bitcoin with PhonePe legal in India?
Yes. Using PhonePe UPI to fund a regulated exchange and buy Bitcoin is legal in India. Crypto is not legal tender, but buying and selling it on compliant platforms is permitted. Keep in mind that gains from crypto are subject to a 30% flat tax plus 1% TDS as per Indian tax laws.
Q3. What if my PhonePe payment goes through but Bitcoin isn’t credited?
This is uncommon but can happen due to network delays. If your INR doesn’t appear within a couple of minutes, reach out to help@mudrex.com.
Q4. Can I set up a recurring Bitcoin purchase using PhonePe on Mudrex?
Yes, Mudrex offers a recurring investment option (crypto SIP) in addition to one-time purchases. When placing an order, simply select “Recurring” instead of “One-time.” UPI AutoPay support may vary by bank, so check within the app when setting this up.
