How can I buy cryptocurrency in Pakistan?

Cryptocurrency
Asked by Question Bot01/Jan/20191 answer

1 Answer

F

Faisal Khan

Answered 01/Jan/2019

There are many ways to invest, most of them require patience in getting approved.

The first and foremost is that the three dominant currencies (if you will) are USDT (Tethered), BTC (Bitcoin) and ETH (Ethereum).

BTC & ETH are what I call the gateway currencies, once you buy them, you can exchange them for tall the other currencies you have mentioned.

Bitcoin exchanges: when opening new accounts require KYC (Know Your Customer) information. This means, having a scanned copy of your passport handy, as well a sa utility bill in your name (for address verification).

If you have a debit/credit card, you can sign up with the likes of https://www.lykke.com/ where you can provide the card to obtain funds, and then trade. Do remember any funds you buy with a card, carry a hefty price for conversion.

Alternatively, if you have a US Dollar (or EUR or GBP) account in your name, you can then send (i.e. wire transfer) money from your bank account to the exchange and have your account credited with the funds. This can take a few days.

LocalBitcoins is also a preferred method, however, one has to be careful in screening.

If you setup an account with http://Urdubit.com you can also buy Bitcoins (albeit at a premium) and then move these coins out to other crypto exchanges, from where you can then convert to other coins and vice versa.

You can always ask friends/family outside of PK who may happen to own a Bitcoin or two, etc. to buy it for you and you can always pay them locally.

I made a video on this (Facebook Live session) on how to get started. The next video will be coming up this week.

Facebook Live Session (Recorded Link): Faisal Khan