The business trend of Cryptocurrency is rising swiftly in Pakistan, as the country is struggling with an emerging economical state. Though an official approval of Buy bitcoin in Pakistan is still has not occurred, and when it will happen, it can have a progressive influence on the country’s economy, bearing in mind that the world is shifting very fast in the direction of a digital economy.
Present Condition of Cryptocurrency in Pakistan
Even though Pakistan do not avail the huge opportunity in 2017, the time is still there as many crypto experts consider that Bitcoin will reach $100,000 by the end of this year. The government of Pakistan has no particular rules about Cryptocurrency so far. But, a huge amount of people are trading in Cryptocurrency. Many industry leaders & investors have confidence that the people have the potential to earn more from Cryptocurrency seeing the huge adoption among its citizens.
Crypto Market Advancement in Pakistan
The crypto market is flourishing in Pakistan. The developing interest related to Cryptocurrency is appreciated in the youth. Pakistan has internationally categorized the third place towards crypto adoption, however, the actual upsurge of Cryptocurrency in the country will be after official approval from the government. It can probably take place when the local government admits the significance of Cryptocurrency and authorize it in the country.
Several crypto exchanges are common in Pakistan. Binance is the leading crypto exchange in the world, whereas Coinbase, KuCoin, Kraken Exchange are also most widely used.
Binance Trading Platform
Unluckily, the citizens of Pakistan cannot directly buy Bitcoin on Binance or any other crypto exchange with their debit or credit cards as the banks do not allow transactions from crypto exchanges, but they can utilize additional ways to buy bitcoin in USDT.
Binance provides a P2P trading platform where people can buy cryptocurrencies with comfort without the fear of any risk or loss. Peer-to-Peer (P2P) trading offers a platform for buyers and sellers to connect with everyone simultaneously. Binance acts as a third party in this case where it retains all transactions.
Paxful crypto exchange has a very reliable User Interface that enables users to buy and sell Bitcoins and other cryptocurrencies instantly. Follow the below-given process to buy & sell Bitcoin on the Paxful exchange:
- Account Layout
After browsing the official website of Paxful click the option Create an Account and then fill in the required information along with entering the email address & setting a password. To make active the account enter a code sent to your provided email address. Further sign-in by giving your email address and password. Now your account is active & all set to start trading.
2. Buying Format
After you are done with creating your account the next step is to understand the trading format which includes different options along with buying & selling options. Click on the Buy button then a pop-up menu will appear, displaying options for three cryptocurrencies. Now click on Buy Bitcoin and various traders will appear on your screen recommending Bitcoin at diverse rates. You can also add the desired amount you want to spend on buying & can choose your preferred method of payment such as USDT. Choose a bitcoin trader and click on the Buy button to start your crypto trading.
3. US Dollars to Bitcoin Conversion
Now you will ask to enter the amount of money you want to invest and displays how much Bitcoin you will get in return. You have to verify your Paxful account if you want to invest more than $1,000. But without verification, you can also invest up to $1,000.
4. Absolute Pick up
After adding up the preferred amount of Cryptocurrency you decide to purchase, click on Buy Now. You will be bound for the next screen where the trading guidelines will be thoroughly explained. You can also communicate with the buyer in the chat section in case of any confusion or issue.
5. Payment Transfer
After the whole above discussed process & transferring the desired amount in PKR to the trader’s bank account, you must share prove of bank receipt in the chatbox to verify your payment. The trader will verify the transaction and after getting the funds in the trader’s preferred account, crypto coins or tokens will be shifted to your Paxful wallet.