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How to Buy/Sell Bitcoins in Pakistan?

Buy Bitcoins in Pakistan

Buying Bitcoins is easier all around the world though it's not that seemless in Pakistan atleast currently as Bitcoin is yet a new technology here and it would take time for people to digest the currency and its advantages.

There are various platforms online that offer Bitcoin and many other cryptocurrency exchanges all around the globe, though they aren't available in Pakistan.

Like one of the most popular Bitcoin trading marketplaces currently is Coinbase. When you get to make its account and download the application, it mentions that their servie isn't currently available in your country.

Checkout the image below of what it looks like.

bitcoin trade

What options do you have?

Now let's begin what which platforms are avaible in Pakistan. I'm ony currently sharing the platforms below that I've used my self. If you know more platforms that work in Pakistan to buy/sell bitcoins, kindly share that in the comment section below.

  • [message]
    • ##check## High rates in Pakistan
      • Note that the servies that are available in Pakistan to trade Bitcoins offer it at a very high rate due to their monopoly. As more people get to know about Bitcoins in Pakistan and more companies would be opened here, the rates would be competitive as with everywhere around the globe on popular platforms.

#1 UrduBit

UrduBit is one of the first platforms that offer Bitcoin trading in Pakitan. The company was featured on ProPakistani, that is one of the most popular technology blog's in Pakistan. The company got started back in 2009 where it faced lack of attention early on, knowing how Bitcoin wasn't a well known phenomena back then.

When the rates of Bitcoin started to rise supernaturally in the recent past, it soon became news stories all around and its awareness in Pakistan is gradually increasing too.

To buy BitCoins from UrduBit, follow the procedure as below.
  • [vtab]
    • #1 Create Account
      • Visit UrduBit website and create an account by clicking 'Sign Up', as shown in the image below.

    • #2 Verify Your Account
      • You'd need to verify your account by providing the company with your document scanned copies. Simply take a picture of your ID card, and then you holding your ID card in your hand. Apart from these two pictures, you need a picture of your home bill as a proof of address.

        Once you have them, click the alert that shows up in your dashboard the moment you login. Once you have submitted the documents, your account status would look something like in the picture below, as 'pending' until they approve it.

    • #3 Start Trading
      • Once your account is approved, you can start trading Bitcoins.

 #2 Localbitcoins


Localbitcoins is another website that connect buyers with sellers. It also offers a Bitcoin wallet that comes along with when you create an account. Here, the process is pretty much the same of account creation. You provide your email address and other information to create an account and then verify it.

Follow the steps below to get started with LocalBitcoins.
  • [vtab]
    • #1 Create Account
      • Visit Localbitcoins website and create an account by clicking 'Sign Up for free', as shown in the image below.
    • #2 Verify Your Account
      • With this website, you don't really need to verify by submitting your documents. Simply activate your email address by clicking the confirmation link in your email and you're all good to go.

    • #3 Start Trading
      • Once you're logged in and your email is confirmed, you can start looking for sellers that offer differnet rates. Checkout the image below.
      • buy bitcoins in pakistan



With localbitcoins, the idea is to contact a seller directly on the website. Let's say you choose the top most seller that is currently offering the lowest rate on the platform. Click 'Buy' and then you'll be taken to the trade page, where you first send 'trade request' to the seller.




Once you've sent that, the seller gets a notifcation from you that you're up for the deal. He would then message you in the chat box as shown in the images below.

Checkout the image below of one of the deals I did on this platform.


There are various modes of Payment on this website like as below:


The deal that I did, I paid the seller via online bank transfer and then contacted him that the payment has been made. He then released bitcons accordinly into my localbitcoins built-in wallet.

  • [message]
    • ##check## Please Note
      • Kindly make sure that you know that trading Bitcoins is not legal and isn't recognized by the goverment of Pakistan, as its a common medium for money laundering and FBR is cracking down on it. You could proceed at your own risk and considering your country's rules and laws.

Conclusion

Hope you found it helpful. If you have any questions, do post them in the comment section below and i'll get back to you as soon as possible InshaAllah.

Also, if you know of any other platforms that are currently working in Pakistan to trade bitcoins, do post them in the comment section below too.

JazakaAllah.

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The Coin Journal: Bitcoin News, Blockchain News , Prices, & Analysis: How to Buy/Sell Bitcoins in Pakistan?
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