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

Why Use Groww App to Buy Bitcoin?

Groww has emerged as a popular investment platform in India, offering a seamless way to trade stocks, mutual funds, and cryptocurrencies like Bitcoin. Here’s why it’s a top choice:

• User-Friendly Interface: Designed for beginners with intuitive navigation
• Regulated Platform: Registered with SEBI and complies with FIU-IND regulations
• Low Fees: Competitive pricing compared to traditional crypto exchanges
• Integrated Wallet: Store Bitcoin securely within the app
• Educational Resources: Learn about crypto investing through Groww’s guides

Step-by-Step Process to Buy Bitcoin on Groww

1. Create a Groww Account

1. Download the Groww app from Play Store or App Store
2. Sign up using your mobile number or email ID
3. Set up your investment profile

2. Complete KYC Verification

1. Go to ‘Profile’ > ‘Complete KYC’
2. Submit PAN card details and bank information
3. Upload government-issued ID proof (Aadhaar, Passport, or Driver’s License)

3. Add Funds to Your Groww Wallet

1. Tap ‘Invest’ > ‘Add Money’
2. Choose UPI or Net Banking
3. Enter amount (minimum ₹100)

4. Navigate to Bitcoin Section

1. Go to ‘Discover’ > ‘Crypto’
2. Search for Bitcoin (BTC)
3. Tap ‘Invest’

5. Execute Your Bitcoin Purchase

1. Enter investment amount in INR
2. Review order details
3. Confirm transaction with PIN/2FA

6. Store or Manage Your Bitcoin

1. View holdings in ‘Portfolio’ section
2. Enable price alerts
3. Set up recurring investments (SIP)

5 Essential Tips for Buying Bitcoin on Groww

1. Start with small amounts to understand price volatility
2. Enable two-factor authentication for security
3. Track Bitcoin’s price movements using Groww’s charts
4. Diversify with other crypto assets like Ethereum
5. Review transaction history regularly

FAQ: Buying Bitcoin on Groww App

Is Groww safe for Bitcoin investments?

Yes, Groww uses bank-grade encryption and partners with compliant crypto exchanges. However, crypto investments carry inherent market risks.

What are the fees for buying Bitcoin?

Groww charges 0.1% trading fee + GST. Deposits are free, while withdrawals incur network fees.

How long does a Bitcoin purchase take?

Transactions typically complete within 2-5 minutes during market hours.

Can I buy fractional Bitcoin?

Yes, Groww allows investments as low as ₹100 in Bitcoin.

How do I sell Bitcoin on Groww?

Navigate to your Bitcoin holdings, enter sell quantity, and confirm. Funds reflect in 24-48 hours.

Are Bitcoin profits taxable?

Yes, India imposes 30% tax on crypto gains + 1% TDS. Consult a tax professional for specifics.