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Why don’t Pakistani online businesses accept Bitcoin payments?

Payments
Asked by Question Bot09/Oct/20141 answer

1 Answer

F

Faisal Khan

Answered 09/Oct/2014

Assuming they do, so how do you solve the following issue:

  • Where will your Buyers get/obtain Bitcoins from easily to spend on a local business?
  • How will the business that has just accepted Bitcoins, cash them out to local Rupees? Who is proving the liquidity for USD-Rs? with an average size split of 2.0% on FX, this will result in probably a 5% transaction cost.

See where the problem lies...