{"id":324,"date":"2020-02-03T06:37:13","date_gmt":"2020-02-03T06:37:13","guid":{"rendered":"https:\/\/propakistani.pk\/how-to\/?p=324"},"modified":"2020-02-18T10:46:42","modified_gmt":"2020-02-18T10:46:42","slug":"how-to-buy-bitcoin-in-pakistan","status":"publish","type":"post","link":"https:\/\/propakistani.pk\/how-to\/how-to-buy-bitcoin-in-pakistan\/","title":{"rendered":"How to Buy Bitcoin in Pakistan \u2013 Everything Explained"},"content":{"rendered":"<ul>\n<li><strong>Go to Localbitcoins official website and create a free account on it.<\/strong><\/li>\n<li><strong>See the traders who are selling bitcoins, just look for the traders with good feedback.<\/strong><\/li>\n<li><strong>Enter the bitcoins you want to buy and transfer the money in his or her local bank account.<\/strong><\/li>\n<li><strong>After receiving the payment, the trader will release the bitcoins.<\/strong><\/li>\n<\/ul>\n<p>Nowadays, everyone talks about investing in <strong>cryptocurrency <\/strong>and how investing in crypto will make you <strong>rich<\/strong> in days. The thing is people don\u2019t know that <strong>digital currencies<\/strong> experienced many ups and downs in the last few years. Moreover, investing in crypto isn&#8217;t risk-free as well. Want to know how to buy Bitcoin in Pakistan? Make sure you read the whole article. We have every piece of information that you might need.<\/p>\n<p>One digital currency which experienced crazy fluctuations in value in the last few years is <strong>Bitcoin.<\/strong> However, we will discuss these fluctuations in the value of Bitcoin later in the article.<\/p>\n<p>&nbsp;<\/p>\n<p><img decoding=\"async\" data-expand=\"600\" class=\"lazyload aligncenter wp-image-325\" src=\"data:image\/svg+xml;charset=utf-8,%3Csvg xmlns%3D'http%3A%2F%2Fwww.w3.org%2F2000%2Fsvg' viewBox%3D'0 0 348 209'%2F%3E\" data-src=\"https:\/\/propakistani.pk\/how-to\/wp-content\/uploads\/2020\/01\/how-to-purchase-bitcoin-300x180.jpg\" alt=\"How to buy bitcoin in Pakistan\" width=\"348\" height=\"209\" \/><\/p>\n<p>&nbsp;<\/p>\n<p>Many people in Pakistan search about <a href=\"https:\/\/bitcoin.org\/\" target=\"_blank\" rel=\"noopener noreferrer\"><strong>Bitcoin<\/strong><\/a> and how they can buy it. Firstly people search about how to buy Bitcoin in Pakistan. Secondly, they search for different digital currencies <strong>wallets<\/strong>. Thirdly and most importantly they ask about how they can <strong>trade Bitcoins<\/strong> in Pakistan.<\/p>\n<p>These are some of the questions which people ask and there aren&#8217;t any definite answers to these questions available on the internet.<\/p>\n<p>Therefore we will try to answer all these questions and will also try to guide you about the safer ways to buy Bitcoin in Pakistan. In this article, we will also try to give all the relevant information regarding <a href=\"https:\/\/www.blockchain.com\/\" target=\"_blank\" rel=\"noopener noreferrer\"><strong>blockchain<\/strong><\/a>. However, first, we will discuss what <a href=\"https:\/\/blockgeeks.com\/guides\/what-is-cryptocurrency\/\" target=\"_blank\" rel=\"noopener noreferrer\"><strong>cryptocurrency<\/strong><\/a> is and which cryptocurrency you can buy.<\/p>\n<h2><strong>Cryptocurrency<\/strong><\/h2>\n<p>A <a href=\"https:\/\/www.investopedia.com\/terms\/d\/digital-currency.asp\" target=\"_blank\" rel=\"noopener noreferrer\"><strong>digital<\/strong> or <strong>virtual<\/strong> currency<\/a> which is protected by cryptography is called <strong>cryptocurrency<\/strong>. Due to this cryptography, no one can forge cryptocurrency. The cryptocurrencies are distributed networks which are based on <strong>Blockchain<\/strong> technology. The main thing about cryptocurrency is that it is not controlled by any central bank or authority which makes it immune to government interference.<\/p>\n<p><img decoding=\"async\" data-expand=\"600\" class=\"lazyload aligncenter wp-image-326\" src=\"data:image\/svg+xml;charset=utf-8,%3Csvg xmlns%3D'http%3A%2F%2Fwww.w3.org%2F2000%2Fsvg' viewBox%3D'0 0 332 221'%2F%3E\" data-src=\"https:\/\/propakistani.pk\/how-to\/wp-content\/uploads\/2020\/01\/how-to-buy-cryptocurrency-in-Pakistan-300x200.jpg\" alt=\"An image of cryptocurrencies\" width=\"332\" height=\"221\" \/><\/p>\n<h2><strong>Types of Cryptocurrency<\/strong><\/h2>\n<p>There are different types of cryptocurrencies available in the world right now. However, <strong>Bitcoin<\/strong> is still the most valuable <strong>digital<\/strong> <strong>currency<\/strong> in the world. All these digital currencies have different specifications and functions.<\/p>\n<ol>\n<li><a href=\"https:\/\/bitcoin.org\/\" target=\"_blank\" rel=\"noopener noreferrer\">Bitcoin<\/a><\/li>\n<li><a href=\"https:\/\/litecoin.com\/\" target=\"_blank\" rel=\"noopener noreferrer\">Litecoin<\/a><\/li>\n<li><a href=\"https:\/\/www.peercoin.net\/\" target=\"_blank\" rel=\"noopener noreferrer\">Peercoin<\/a><\/li>\n<li><a href=\"https:\/\/ethereum.org\/\" target=\"_blank\" rel=\"noopener noreferrer\">Ethereum<\/a><\/li>\n<li><a href=\"https:\/\/www.cardano.org\/en\/home\/\" target=\"_blank\" rel=\"noopener noreferrer\">Cardano<\/a><\/li>\n<li><a href=\"https:\/\/ripple.com\/\" target=\"_blank\" rel=\"noopener noreferrer\">Ripple<\/a><\/li>\n<\/ol>\n<p>These are some of the popular <strong>cryptocurrencies<\/strong> available in the world.<\/p>\n<h2><img decoding=\"async\" data-expand=\"600\" class=\"lazyload aligncenter wp-image-339 size-medium\" src=\"data:image\/svg+xml;charset=utf-8,%3Csvg xmlns%3D'http%3A%2F%2Fwww.w3.org%2F2000%2Fsvg' viewBox%3D'0 0 300 282'%2F%3E\" data-src=\"https:\/\/propakistani.pk\/how-to\/wp-content\/uploads\/2020\/01\/how-to-buy-different-crypto-currency-300x282.jpg\" alt=\"This is the image of different virtual coins or cryptocurrency.\" width=\"300\" height=\"282\" \/><\/h2>\n<h2><strong>Blockchain<\/strong><\/h2>\n<p>When we defined <strong>cryptocurrency <\/strong>we said it is based on blockchain technology and you all are wondering what blockchain is? Don\u2019t worry we will explain blockchain too.<\/p>\n<p><a href=\"https:\/\/blockgeeks.com\/guides\/what-is-cryptocurrency\/\" target=\"_blank\" rel=\"noopener noreferrer\"><strong>Blockchain<\/strong><\/a> is a growing list of records called as blocks which are connected using <strong>cryptography<\/strong>. It is kind of digital ledger which stores the record of the transaction between two parties. Blockchain is efficient and verified system. Moreover, it does not allow to modify data. In simple words, it is an open and distributed digital ledger which you cannot modify.<\/p>\n<p><img decoding=\"async\" data-expand=\"600\" class=\"lazyload aligncenter wp-image-328\" src=\"data:image\/svg+xml;charset=utf-8,%3Csvg xmlns%3D'http%3A%2F%2Fwww.w3.org%2F2000%2Fsvg' viewBox%3D'0 0 357 328'%2F%3E\" data-src=\"https:\/\/propakistani.pk\/how-to\/wp-content\/uploads\/2020\/01\/how-to-store-bitcoin-with-blockchain-1-300x276.jpg\" alt=\"Image of the banner of of blockchain technology.\" width=\"357\" height=\"328\" \/><\/p>\n<p>As we mentioned above there are some other cryptocurrencies available in the world but Bitcoin is the most valuable and important to people all around the world. So we will focus only on <strong>Bitcoin<\/strong>. Here are some of the things you should know before jumping to the procedure of buying <strong>Bitcoin in Pakistan<\/strong>.<\/p>\n<h2><strong>Bitcoin<\/strong><\/h2>\n<p>As we have discussed all the details about <strong>cryptocurrency<\/strong> and <strong>blockchain<\/strong>, now we will discuss the main thing for which you all are here for <strong>\u201cBitcoin\u201d.<\/strong><\/p>\n<p><strong>Bitcoin<\/strong> is one of the first and most valuable cryptocurrencies in the world right now. In 2017, Bitcoin experienced skyrocketing price increase. Now 1 Bitcoin is equal to <strong>1,446,470.09 Pakistani Rupee<\/strong>. There are different wallet apps you can use to store Bitcoins. Most people in Pakistan have an interest in Bitcoin only so we will tell about the different ways to buy Bitcoin and how much risk is involved in it.<\/p>\n<p><img decoding=\"async\" data-expand=\"600\" class=\"lazyload aligncenter wp-image-330\" src=\"data:image\/svg+xml;charset=utf-8,%3Csvg xmlns%3D'http%3A%2F%2Fwww.w3.org%2F2000%2Fsvg' viewBox%3D'0 0 355 290'%2F%3E\" data-src=\"https:\/\/propakistani.pk\/how-to\/wp-content\/uploads\/2020\/01\/How-to-buy-bitcoin-300x245.jpg\" alt=\"Image of bitcoin's logo.\" width=\"355\" height=\"290\" \/><\/p>\n<h2><strong>Is it Legal to Buy Bitcoin in Pakistan?<\/strong><\/h2>\n<p>On April 2018, <a href=\"http:\/\/www.sbp.org.pk\/\" target=\"_blank\" rel=\"noopener noreferrer\"><strong>State Bank of Pakistan<\/strong><\/a> banned all cryptocurrencies. They ordered all banks and monetary service providers to block all transactions of <strong>cryptocurrency<\/strong>. So it is not legal to buy Bitcoins in Pakistan but still, people are investing in Bitcoin. Therefore, investing in Bitcoin is not risk-free and you can get caught if you are trading Bitcoin in Pakistan.<\/p>\n<p>After the ban on cryptocurrency, there is no <strong>legal exchange<\/strong> system in Pakistan and people are doing much of the <strong>Bitcoin trading<\/strong> via cash. So if you are <strong>trading Bitcoin<\/strong> or any other cryptocurrency in Pakistan then there is a chance <strong>Federal Investigating Agency (FIA)<\/strong> will catch you. So consider this risk before buying or selling Bitcoin in Pakistan.<\/p>\n<p><img decoding=\"async\" data-expand=\"600\" class=\"lazyload aligncenter wp-image-337 size-medium\" src=\"data:image\/svg+xml;charset=utf-8,%3Csvg xmlns%3D'http%3A%2F%2Fwww.w3.org%2F2000%2Fsvg' viewBox%3D'0 0 300 300'%2F%3E\" data-src=\"https:\/\/propakistani.pk\/how-to\/wp-content\/uploads\/2020\/01\/how-you-can-buy-bitcoin-1-300x300.jpg\" alt=\"An infographic showing how the people go trough the process of trading coins or how to buy bitcoin in Pakistan\" width=\"300\" height=\"300\" \/><\/p>\n<h2><strong><a href=\"https:\/\/propakistani.pk\/price\/\" target=\"_blank\" rel=\"noopener noreferrer\">How to<\/a> Buy Bitcoin in Pakistan<\/strong><\/h2>\n<p>There is only one <strong>exchange<\/strong> which is working in Pakistan and people can use it to buy Bitcoin in Pakistan. Localbitcoins.com is the only platform where you can buy and sell Bitcoins in Pakistan. To trade Bitcoins using <strong>localbitcoins.com<\/strong> you need to create an account on their website. Here we will provide the step by step guide for <strong>buying Bitcoin<\/strong> in Pakistan.<\/p>\n<ul>\n<li>Open <strong>Localbitcoins<\/strong> website and click on sign up for free.<\/li>\n<li>After that, you need to provide an email address and password to create an account.<\/li>\n<li>For the large transaction, you need to upload a scanned copy of your <strong>CNIC<\/strong>. If you are not going to make <strong>large transactions<\/strong> then you don&#8217;t need to upload it.<\/li>\n<li>After creating an account, click on <strong>buy Bitcoins<\/strong>.<\/li>\n<li>After that, you will see a list of <strong>Bitcoin traders<\/strong>. They are selling Bitcoins and you should go for the trader that has good feedback.<\/li>\n<li>Now click on buy and read all <strong>terms and conditions<\/strong><\/li>\n<li>After reading it, write the number of <strong>Bitcoins<\/strong> you want to buy from the seller.<\/li>\n<li>Now the seller will send you the local payments details on which you have to send the <strong>local currency<\/strong>.<\/li>\n<li>After that, the seller will release the bitcoins. Remember you need to send money in an hour to the seller. If you don&#8217;t then the seller might dispute the trade.<\/li>\n<li>You will receive Bitcoins in your <strong>wallet<\/strong>.<\/li>\n<\/ul>\n<p><img decoding=\"async\" data-expand=\"600\" class=\"lazyload aligncenter wp-image-332 size-medium\" src=\"data:image\/svg+xml;charset=utf-8,%3Csvg xmlns%3D'http%3A%2F%2Fwww.w3.org%2F2000%2Fsvg' viewBox%3D'0 0 300 140'%2F%3E\" data-src=\"https:\/\/propakistani.pk\/how-to\/wp-content\/uploads\/2020\/01\/how-to-buy-bitcoin-in-pakistan-using-localbitcoins-300x140.png\" alt=\"Screenshot of the site localbitcoins.com\" width=\"300\" height=\"140\" \/><\/p>\n<p>You can sell Bitcoins as well, just click on <strong>sell Bitcoins<\/strong> and sell to the trader who is paying the highest amount.<\/p>\n<h2><strong>Conclusion<\/strong><\/h2>\n<p>Most people in Pakistan are <strong>trading Bitcoins<\/strong> via cash because of the ban on it. There was another Bitcoin trading platform urdubit but now they are not trading Bitcoins in Pakistan. It was the first Bitcoin trading platform of Pakistan. Another way to <strong>buy Bitcoin in Pakistan<\/strong> is face to face. You make a deal with a person face to face and in return, you give him or her payment in local currency.<\/p>\n<p>&nbsp;<\/p>\n<p><img decoding=\"async\" data-expand=\"600\" class=\"lazyload aligncenter wp-image-338 size-medium\" src=\"data:image\/svg+xml;charset=utf-8,%3Csvg xmlns%3D'http%3A%2F%2Fwww.w3.org%2F2000%2Fsvg' viewBox%3D'0 0 300 199'%2F%3E\" data-src=\"https:\/\/propakistani.pk\/how-to\/wp-content\/uploads\/2020\/01\/how-to-store-crypto-in-wallet-300x199.jpg\" alt=\"cryptocurrencies\" width=\"300\" height=\"199\" \/><\/p>\n<p>&nbsp;<\/p>\n<p>To sum up, the <strong>trading of Bitcoin<\/strong> is still going on in Pakistan. Moreover, people are still investing in it after knowing the risks involved in <strong>Bitcoin dealing<\/strong>. If you want to buy or sell <strong>Bitcoin in Pakistan<\/strong> then you should keep in mind the repercussions of it. We tried to discuss all things related to Bitcoin and we hope all your queries regarding <strong>Bitcoin<\/strong> are answered in this article.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Go to Localbitcoins official website and create a free account on it. See the traders who are selling bitcoins, just look for the traders with good feedback. Enter the bitcoins you want to buy and transfer the money in his or her local bank account. After receiving the payment, the trader will release the bitcoins. 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