Author - Daniels Kenneth In category - Cryptocurrency exchange Publish time - 9 August 2023

how to buy bitcoin in pakistan

Once you’ve purchased bitcoin or your cryptocurrency of choice it’s important to withdraw it to your own secure personal wallet. Both exchanges are considered to be beginner-friendly and offer multiple deposit methods and a variety of cryptocurrencies. Paxful is a peer-to-peer marketplace for buying and selling bitcoin. It is difficult to purchase Bitcoin without ID verification on P2P marketplaces or exchanges. However, you could try Bitcoin purchases in cash, although this method is highly susceptible to scams. They are recommended for long-term Bitcoin investors or those with a large amount of Bitcoin.

how to buy bitcoin in pakistan

Changelly’s conversion mechanism is integrated into some of the biggest cryptocurrency platforms such as Poloniex, Bittrex, and Binance. There are no geographical restrictions to the service that Changelly provides, so it can be accessed from anywhere in the world. Binance provides 2-factor authentication and offers both multi signature wallets and cold storage options. It’s rise to popularity can be attributed to the impressive number of cryptocurrencies they offer, professional attitude, friendly and transparent CEO, and low trading fees. Guarda is a non-custodial wallet which means no one can access your personal information so buying Bitcoin and other cryptocurrencies is always secure. Furthermore, we strive to provide one of the best rates for buying and selling cryptocurrencies.

How to Buy Bitcoin with Apple Pay in Pakistan

Yes, popular Bitcoin futures exchanges like Binance, Bitmex, and Deribit enable users to long or short BTC with up to 100x
leverage. The first step is to register with a platform, app or exchange and complete a Know Your Customer (KYC) process. is a time-tested British exchange with over 3 million users. This article provides a detailed comparison of Monero, Zcash, and Dash, examining their technical aspects, privacy features, usability, and market positioning. Next, you’ll see a screen that asks you to enter the amount of money you want to pay and shows you how much BTC you will get in return. Despite regulatory uncertainty, Pakistanis continue to buy Bitcoin in droves.

If you are using a P2P marketplace, you can also find a counterparty that is willing to sell their crypto assets for PKR and make a deal directly with them. Whichever method you choose, take the precautions when buying BTC in Pakistan. Make sure to only transact with reliable individuals or businesses that have a strong reputation.

It can be exchanged between people without the use of a financial middleman and works independently of a central bank. Bitcoin was the first cryptocurrency to be created, and since then, thousands of new cryptocurrencies have emerged. Each cryptocurrency has its unique features, and some have gained more popularity than others. Although Pakistanis cannot directly buy cryptocurrencies using their bank cards from reliable sources, they can always use other methods available to them. Prepaid cards can facilitate the purchasing of cryptocurrencies such as Bitcoin.

How to buy bitcoin in Pakistan in 3 easy steps

You can review each of these exchanges and find best exchange that works for you. Bitrawr ranks
exchanges in Pakistan based on fees, users, and security while giving placement preference
to exchanges located in Pakistan or specifically catering to users in Pakistan. Most exchanges will let you buy as little as a few dollars worth of bitcoin, or any other cryptocurrency.

  • Pakistan has 4 trusted exchanges available for you to sign up for, with the most popular being Binance and Kraken, which account for a combined 99,000,000 active users.
  • This website is using a security service to protect itself from online attacks.
  • Users can purchase, trade, and exchange crypto on platforms which also allow for the easy transfer of digital funds between crypto wallets.
  • The blockchain is a public ledger that records and stores every transaction that is made in the Bitcoin network.

Most of them are free and require you to register an account before use. Finding a suitable way to store your Bitcoin is as critical as finding the right crypto platform. There are two ways to take care of your Bitcoin, depending on your trading strategy.

Deposit fiat & buy bitcoin

LocalBitcoins is a peer-to-peer marketplace for buying and selling bitcoin. Here are the top crypto exchanges in PK, handpicked and updated by buybitcoinsmart. Guarda team writes articles on the most relevant data for crypto newcomers as well as advanced users. Our goal is to make cryptocurrency accessible and simple to everyone regardless of financial background or experience level with cryptocurrencies. Enjoy all the benefits that cryptocurrencies offer without worrying about anything.

Please note that you will require to pay for them, unlike hot wallets. On the upside, cold wallets are tamper-proof as long as you don’t share your private keys. It is characterized by great customer support and an integrated wallet. Both platforms have great customer support and demand KYC verification.

Bank transfers are good for investors who would like to purchase large amounts of Bitcoin. It also accommodates investors who yearn for greater transaction limits and those mindful of fees. Both are industry behemoths that support the buying and selling of cryptos.

In 2017, the top intelligence bureau in the country started going after crypto traders. This followed claims of tax evasion and money laundering using cryptos. Finding the right crypto provider is critical to making a profitable investment. Bitcoin is available on most platforms, and we understand how difficult finding a good platform is. Here is a list of top Bitcoin brokers to buy Bitcoin in Pakistan. Foreigners can purchase Bitcoin in Pakistan if they have a Pakistani bank account and adhere to the established local regulations.

  • Our goal is to make cryptocurrency accessible and simple to everyone regardless of financial background or experience level with cryptocurrencies.
  • Bitrawr ranks
    exchanges in Pakistan based on fees, users, and security while giving placement preference
    to exchanges located in Pakistan or specifically catering to users in Pakistan.
  • They are recommended for long-term Bitcoin investors or those with a large amount of Bitcoin.
  • Changelly is an intermediary platform between crypto exchanges and users.

Bring along a device with internet access (a smartphone or tablet) to ensure the coins are delivered safely to your crypto wallet. Currently, it is not possible to buy Bitcoins in Pakistan with PayPal directly. This e-finance system does not support transactions related to cryptocurrencies, including Bitcoin, because of regulatory and compliance hurdles in the country. As Bitcoin trading has helped many people become exceedingly rich, there is no wonder that many users in Pakistan are curious about the opportunity to engage in crypto-related activities. However, most of them have concerns about the legal aspect of cryptocurrencies in this South Asian country.

Got any questions about the BTC purchase on Changelly?

Next, you’ll need to select your preferred payment method, e.g., bank transfer, EasyPaisa, the amount, and the currency(PKR). The SECP has also issued a list of guidelines for users and exchanges to follow when trading in virtual currencies. The SECP has proposed a framework for regulating the trading of virtual currencies in Pakistan. This includes a registration process for exchanges, and introducing anti-money laundering (AML) and know-your-customer (KYC) regulations. A bank transfer is a secure option to buy cryptocurrency, especially if you are thinking of purchasing large amounts of virtual currency. Keep in mind that bank transfers may take a little longer, and fees may vary.

how to buy bitcoin in pakistan

Research about the exchange you are planning to use and the person you are going to buy from, and make sure that the transaction will be secure and well-protected. The platform you end up choosing will depend on your preferences and the cryptocurrencies and payment methods they support. Exchanges will differ by fees, security, payment methods, and other features, so explore the “info” tab on the exchanges listed above to find which one is the right fit for you. Changelly offers two-factor authentication and an HTTPS security protocol.

In this section, we do a comprehensive analysis of specific crypto platforms best suited for purchasing Bitcoin. The platforms you can use, payment methods, tips for storing your coins, and much more. Cash-for-Bitcoin transactions in Pakistan can be executed through P2P services like LocalBitcoins, Paxful, and Remitano. These platforms enable buyers and sellers to connect, while also providing a user rating system to assess the reputation of any potential counterparties. Crypto ATMs offer convenience, however they usually carry a higher transaction fee than other sources such as crypto exchanges or P2P marketplaces. Most of the exchanges operating in Pakistan have debit/credit card payment options

Binance P2P vs. LocalBitcoins

It is necessary to register for a crypto exchange that supports prepaid card payments before linking one’s card to the account and making a deposit in order to complete the transaction. Although there is no official recognition of cryptocurrency trading, many Pakistani traders are still taking part in it. There have been no legal actions from the government against individuals or businesses dealing with digital currencies.

After signing up to an exchange you will need to verify your identity and address, which is part of the Know Your Customer (KYC) process. This is an unavoidable legal requirement for almost all exchanges in Pakistan. Buying bitcoin and other cryptocurrencies in Pakistan is a simple process and usually takes less than 10 minutes to get fully setup. Download Guarda Wallet and hold your crypto assets safely, anytime and anywhere. Privacy – You are in charge of your wallets, backup files, personal information, and private keys.

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