-->

How to buy Bitcoin in Pakistan - how to buy cryptocurrency in pakistan 2021

- October 26, 2020

 

how to buy cryptocurrency in pakistan

This is era of digital technology. Everyone wants to invest in crypto currency. Many people don't know about the ups and downs of crypto currency rates. Investing in crypto currency is full of risk .If you want to know how to buy Bitcoin in Pakistan then read this informative article.


This is era of digital technology. Everyone wants to invest in In last couple of years there is fluctuation in rates of Bitcoin. On internet many people in Pakistan are searching how to buy Bitcoin. They also search about wallets of different currencies. And how to trade Bitcoin in Pakistan? currency. Many people don't know about the ups and downs of crypto currency rates. Investing in crypto currency is full of risk .If you want to know how to buy Bitcoin in Pakistan then read this informative article.


In this article I will give you answers of all questions.  First of all I will discuss about crypto currency and block chain technology.


Crypto currency in Pakistan:

A currency which is protected by cryptography is called crypto currency. It is digital currency. It is based on block chain technology. It is not controlled by any bank or any government authority.

Types of Crypto Currency:

There are many types of crypto currency in whole world. Bitcoin is valuable currency throughout the world. Each digital currency has different specifications.

  1.  Bitcoin
  2. Litecoin
  3. Cardano
  4. Peercoin
  5. Ethereum

blockchain technology in pakistan

As you know that Crypto Currency is based on block chain technology. Block chain is list of records called blocks which are connecting using cryptography. It saves record of transaction of two parties. It is very efficient and you cannot modify data.

Bitcoin:

In above mentioned paragraphs I discussed about block chain technology and Crypto Currency. Now I will discuss about Bitcoin. It is valuable digital currency. In 2017 price of Bitcoin was increased. Now a days 1 Bitcoin is equal to 1,446,470 rupees.

There are different wallets apps for Bitcoin.


Is it legal to buy Bitcoin in Pakistan?

In 2018 State Bank of Pakistan banned all types of crypto currencies. State Bank of Pakistan banned all types of crypto currencies transactions.  So it is illegal to buy Bitcoin in Pakistan. Investing in Bitcoin is risky work. You may caught by Federal Investigating Agency. There is no legal exchange system for Bitcoin in Pakistan. But many people are trading Bitcoin in Pakistan through Jazz Cash.

How to buy Bitcoin in Pakistan?

If you want to buy Bitcoin in Pakistan then localbitcoin.com is one of the best and only option for Pakistan is to buy Bitcoin.
  • On localbitcoin.com you can buy or sell Bitcoin in Pakistan.
  • First of all create an account on localbitcoin.com
  • Then provide email address and password for account creation.
  • If you want to do large transaction. Then you need to upload scanned copy of CNIC.
  • After creating an account on localbitcoin.com then click on buy Bitcoin.
  • On localbitcoin.com you will see the list of Bitcoin traders.
  • Before buying Bitcoin from this website please check reviews about Bitcoin trader.
  • Then click on terms and condition.
  • Then click ok and Bitcoin seller will send you payment detail. 
  • Send payment to seller and seller will release Bitcoin.
  • You will receive Bitcoin in wallet.

Conclusion:

Many people in Pakistan are trading Bitcoin in local currency because official trading of Bitcoin is banned. You can buy Bitcoin by face to face deal. But keep in mind Bitcoin is not legal in Pakistan.