Bitcoins have been in the news in Pakistan for a long time now. The growing popularity of digital currencies in the country has meant several digital currency platforms or exchanges have sprung up to cater to the needs of Pakistani users. It is therefore not surprising to see people in Pakistan curious to know the procedures in buying bitcoins in the country. Thankfully, many leading online platforms allow Pakistanis to buy and sell bitcoins online without any hassle and in a secure way. Like in many other countries, there are a few steps you need to follow before you start buying bitcoin.
First up, you need to select an appropriate cryptocurrency platform where you can register and open an account. Remember, you need to have a valid Pakistani phone number to complete the two-step verification process to ensure your account is secure. Without verifying your account, online platforms will not allow you to buy and sell bitcoins. After the registration process is complete, you’ll have a bitcoin wallet. Here, you can go to the ‘Main Page’ and select ‘Quick Buy’. You need to enter the amount necessary to buy bitcoins and choose a convenient transaction method. Ideally, you need to select a broker or an exchange company that has a high response time with an excellent reputation in the market.
Given below are some of the best and experienced cryptocurrency exchange companies that operate in Pakistan. You can use any of them to trade in bitcoins in an easy and hassle-free way.
How to Buy Bitcoin in Pakistan 2023
This Hong-Kong-based cryptocurrency platform has gained a lot of popularity in recent times owing to the competitive rates it provides to clients in Pakistan and other countries in the world. Whether you are a seasoned trader or a beginner willing to trade crypto, Binance offers one of the cheapest and easiest ways options around. The services of Binance are accepted by Pakistani people and have received a favorable response from them.
To improve services further, Binance has quite recently tied up with Simplex, a 3rd-party company to allow wire transfer and credit card purchases of cryptocurrencies at a cost. Users can exchange fiat for buying bitcoins and other cryptos through Binance. In this regard, there are several ways to enable transactions. Some of the options include – SEPA/Wire transfers, Credit/debit cards, and P2P trading. Another notable feature of Binance is the Brave, a widget that is integrated into the privacy-focused browser to facilitate in-browser trading. In using this widget users can buy and sell cryptos through Binance as well as control their portfolio better.
This is an online marketplace that allows users to buyers to meet online and buy and sell bitcoins. What is special about Paxful is it accepts a wide range of payment and buying methods that are sometimes not even supported by local exchanges. Another aspect of Paxful that makes it attractive to all kinds of traders is its intuitiveness. Almost all the features and looks of this marketplace’s platform are pretty neat and simple.
Established in 2015, Paxful has more than 200 employees on rolls and has multiple offices spread across different cities in the world. Similar to other online marketplaces of repute, Paxful allows individual traders to become merchants and trade bitcoins in a normal way. For bitcoin buyers that are looking for a useful alternative, Paxful comes as a respite. Buying bitcoins through Paxful is easy. First, you need to decide on the number of bitcoins you wish to buy. In the next step, you need to choose the currency of your choice for the exchange rate. After selecting a payment method, you can select a seller and select the ‘Trade’ option and follow payment steps. As the last step, you need to wait for the bitcoins to be released by the seller.
If you’re looking for a stable and trustworthy bitcoin exchange then CEX.IO, one of the oldest exchanges in the world, ticks all your boxes. Besides providing a reliable trading platform, this company also offers a variety of brokerage services for all kinds of cryptos, including bitcoin. This company is registered with FINCEN and applies policies like AML (Anti-Money Laundering) and KYC (Know Your Customer). According to these policies, you need to have your identity verified before cryptocurrencies can be bought via exchange. All transactions carried out through CEX.IO are based on FOK or Fill-or-Kill orders. According to FOK, the execution of orders is carried out in full and immediately.