How to Buy Bitcoin in Groww App: Your 2024 Step-by-Step Guide

Introduction: Buying Bitcoin Made Simple with Groww

As cryptocurrency continues to reshape finance, Bitcoin remains the flagship digital asset attracting new investors daily. If you’re exploring how to buy Bitcoin in Groww app, you’ve chosen one of India’s most user-friendly platforms. This comprehensive guide walks you through every step – from setup to your first BTC purchase – while highlighting key benefits and precautions. Whether you’re a beginner or seasoned investor, Groww’s seamless interface makes crypto accessible.

Why Buy Bitcoin Through Groww App?

Groww has revolutionized investing by simplifying complex financial products. Here’s why it excels for Bitcoin:

• Zero Commission: Buy Bitcoin without transaction fees (only GST and TDS apply)
• Integrated Portfolio: Track crypto alongside stocks, mutual funds, and US equities
• Beginner-Friendly: Intuitive design with educational resources
• Robust Security: Bank-level encryption and two-factor authentication
• Instant KYC: Complete verification in minutes via PAN/Aadhaar

Step-by-Step: How to Buy Bitcoin in Groww App

Prerequisites: PAN card, active bank account, and Groww app installed (iOS/Android)

1. Sign Up/Log In
   Download Groww from Play Store/App Store. Register with mobile number or email.
2. Complete KYC Verification
   Navigate to ‘Profile’ → ‘Complete KYC’. Submit PAN and Aadhaar details with live selfie verification (takes under 5 minutes).
3. Add Funds to Groww Wallet
   Go to ‘Funds’ → ‘Add Money’. Choose UPI, net banking, or debit card. Minimum deposit: ₹100.
4. Access Crypto Section
   Tap ‘Crypto’ on the home screen. Select ‘Bitcoin’ from the list of cryptocurrencies.
5. Place Your Bitcoin Order
   Click ‘Buy’ → Enter amount in INR (min ₹100) → Review current BTC price → Confirm purchase.
6. Track Your Investment
   View Bitcoin holdings under ‘Portfolio’. Set price alerts for market movements.

Critical Considerations Before Buying Bitcoin

• Volatility Warning: Bitcoin prices can swing 10-20% daily. Only invest disposable income.
• Tax Implications: 30% tax on profits + 1% TDS on transactions above ₹10,000. Maintain transaction records.
• Security Best Practices: Never share OTPs or passwords. Enable biometric login.
• Long-Term Perspective: Historically, BTC rewards patient investors despite short-term dips.

FAQs: Buying Bitcoin on Groww

Q1: Can I withdraw Bitcoin to an external wallet?
A: Currently, Groww supports crypto purchases and sales only within the app. External transfers aren’t available.

Q2: What’s the minimum Bitcoin purchase amount?
A: You can start with just ₹100. There’s no upper limit.

Q3: How long do Bitcoin purchases take?
A: Transactions are instant once Groww wallet is funded. BTC reflects in your portfolio immediately.

Q4: Is Groww crypto regulated in India?
A: Groww operates under Indian tax laws and complies with FIU-AML guidelines. All transactions report to authorities.

Q5: Can I set recurring Bitcoin purchases?
A: Yes! Use ‘Recurring Buy’ to automate daily/weekly/monthly BTC investments.

Q6: What happens if Groww shuts down?
A: Your crypto remains secure in partner-managed wallets. Groww follows RBI-mandated contingency protocols.

Conclusion: Start Your Bitcoin Journey Confidently

With Groww, buying Bitcoin is as straightforward as ordering groceries online. By following this guide, you’ve learned how to navigate the app securely, make informed decisions, and leverage Groww’s fee-efficient structure. Remember: cryptocurrency investing carries risk, but with disciplined strategies and Groww’s transparent platform, you’re well-equipped to participate in the digital asset revolution. Start small, stay updated on market trends, and watch your portfolio evolve!