How to Buy Cryptocurrency in India Using MobiKwik Wallet

To buy cryptocurrency in India using the MobiKwik wallet, follow these steps carefully. While MobiKwik itself does not support direct cryptocurrency purchases, you can use the MobiKwik wallet to fund another cryptocurrency exchange that supports MobiKwik as a payment method.

Step-By-Step Guide

Install the MobiKwik App: Download and install the MobiKwik app on your smartphone. Ensure that the app is from the official app store to maintain security.

Create or Log in to Your MobiKwik Account: Sign up or log in to your existing MobiKwik account if you already have one. Follow the prompts to complete any necessary onboarding processes.

Complete KYC Verification: If you have not already done so, complete the Know Your Customer (KYC) process. This may require submitting your identification documents for verification.

Fund Your MobiKwik Wallet: Add funds to your MobiKwik wallet by linking your bank account or using other available payment methods. Ensure your wallet is fully funded before proceeding.

Select a Cryptocurrency Exchange: Choose a reputable cryptocurrency exchange that accepts MobiKwik as a payment method. Some popular options in India include WazirX, CoinSwitch Kuber, and CoinDCX.

Open an Account and Verify: Create an account on your chosen exchange and complete the necessary verification process. This may require providing additional identification and financial documentation.

Visit the Trading Interface: Navigate to the trading interface on your chosen exchange. This is where you can purchase or sell cryptocurrencies.

Select MobiKwik as Payment Method: Choose MobiKwik as your payment method and enter the amount of cryptocurrency you wish to buy. Confirm the transaction and follow any additional instructions provided by the exchange.

Confirm the Transaction: Once the transaction is confirmed, the purchased cryptocurrency will be credited to your exchange account.

Alternative Payment Methods

If MobiKwik is not an option, consider using other payment methods to buy cryptocurrency in India. Most Indian cryptocurrency exchanges support UPI (Unified Payments Interface) transactions, allowing you to use your wallet or bank account directly to fund your purchase. However, in my opinion, using your bank account is often a more secure and flexible option, as it eliminates the need to go through the KYC process again.

Alternatives to MobiKwik

Currently, you cannot buy cryptocurrency directly from the MobiKwik wallet. However, newer services such as Paxful and coinDCX GO provide alternative methods to sell or buy Bitcoin using your MobiKwik wallet balance. With Paxful, you can buy from a variety of offers and use your MobiKwik balance to sell your BTC or create your own offer to sell your Bitcoin. The coinDCX GO service also allows you to use your MobiKwik balance to buy Bitcoin.

WazirX is the largest cryptocurrency exchange in India and is secured and easy to use. You can open a free account on WazirX using the link provided below and fund your MobiKwik wallet to purchase cryptocurrency on the exchange.

Conclusion

While MobiKwik does not directly support the purchase of cryptocurrency, it can be used as a payment method on reputable Indian cryptocurrency exchanges. It is essential to keep security in mind and consider alternative methods such as using your bank account for added security and flexibility.