Ultimate Guide On Buying Bitcoin in Pakistan. (Also works Internationally)
Here is everything you must know about buying bitcoin in Pakistan.This guide is about exploring safe, easy and cheap methods of buying bitcoin in Pakistan. Since 2017 has been a great year for cryptocurrencies in terms of their valuation and market cap, plethora of people are in search of ways to buy bitcoin in their respective region.In this article we will focus on possible ways to buy bitcoin in Pakistan.We are going to answer a few questions stating with the foremost one "How to buy bitcoin in Pakistan". Others include How to Buy bitcoin in Pakistan with credit card. How to buy and sell bitcoin in Pakistan. We will also explore ways to buy bitcoin without verification in this article. here is a detailed cryptocurrency guide.
Using direct buying method a user can purchase desired amount of bitcoins in fractions in other words they can buy desired amount of satoshis. There will be no brokers or peer to peer trading you're going to buy directly from the company in this method where you can Buy Bitcoin in Pakistan with credit card. However a P2P exchange is just like a community trade center where people deal with each other directly we are going to tap both of the ways in depth .
1.Buy Bitcoin from Coinmama (Direct Exchange. P2P not available) Recommended
You can directly buy from coinmama using your credit card. Being one of the most reliable cryptocurrency exchange Coinmama lets you buy as low satoshis as you want however you will need to get verified before making your first purchase and that's so simple and easy all you need to do it so submit a clear Picture of your government issued ID/passport and or utility bill, Holding your ID card with a page mentioning the date of applying for verification and the homepage address of coinmama. It usually takes three to five days until you're verified and clear to go.Note: Coinmama Doesn't offer a wallet service you can create a free bitcoin wallet at loclabit to receive your satoshis/BTC in it. Coinmama immediately transfers after the payment has been made. You can also create a free bitcoin wallet on sites like Blockchain and many more however it is recommended to go with loclabit since it is easier to sell bitcoin in Pakistan using this platform current standard international miner fee is 0.0008 bitcoin. which makes $14.4 if BTC is Priced at $18048, we will discus it in the end of the article. Note some Bitcoin wallets may charge a few satoshis as service charges.
Charges: Coinmama has a fair charging charging policy will be charging you about 5.50% for processing charges and additional 5% for credit card payments ( Depends on bank.Its not charged by coinmama). Comparatively the charges of Coinmama are cheaper and acceptable and on average they are quite friendly for a beginner. You can also buy ethereum from Coinmama.
Note: The amount of BTC units in picture below includes 5.% of coinmama charges. 5% (banks specific) additional will be added after selecting payment mod in order window (only applicable on credit card payments) Buy Bitcoin in Pakistan With Credit Card.There is no minimum required amount to make a purchase however investing at lest $100 can help you learn how it works.We recommend you to go for coinmama if you're looking to buy ethereum in Pakistan.
Example:Get Assets of worth $100 at $105. Additional 5.5% are bank/card specific not charges on normal visa card but on credit card usually it depends on bank.
Payment Mods: You can buy bitcoin with Credit and Debit card in Pakistan.(Master and Visa).
2. Buy Bitcoin From Paxful in Pakistan: (P2P trading)
Paxful is a p2p trading platform for bitcoin you can buy btc form different sellers using your credit card and many other payment mods. if you're looking for an answer for how to buy bitcoins with gift cards? how to buy bitcoin with paypal? how to buy bitcoin with wire transfer? Paxful is the best answer. On Paxful different sellers would be offering variable rates and would be accepting various payment mods as per will. Your trade will be backed by escrow so you don't have to be worried about your money. Paxful account has its own free wallet so you don't have to create another one you can just buy bitcoin in Pakistan with credit card .
Charges: No charges on buyer for buying bitcoin only seller bears 1% charges on paxful however if you pay via other mods of payments like gift cards etc conversion fee will apply. We will discuss it later. Transferring your Bitcoins to another wallet is subject to bear a fee of 0.0008 bitcoins as currently declared universal mining fee.
Payment Mods: On Paxful you can: Buy bitcoin with credit card, Buy bitcoin with paypal, buy bitcoin with payoneer, buy bitcoin with alipay, buy bitcoin with debit card, buy bitcoin with playstation network card, buy bitcoin with skrill, buy bitcoin with western union and many other. See complete list here Payment Methods for bitcoin. If you are paying in form of a gift card you may have to bear a conversion fee which is charged differently by each seller i.e 30% or less/more depending upon nature of the gift card used to buy bitcoins.Note:Credentials based Verification not required to begin so Buy Bitcoin With Credit Card ?
3.Buy Bitcoin from CEX.io: (Direct Cryptocurrency/Bitcoin exchange. No P2P)
At Cex.io you can buy bitcoin from Pakistan with credit card. Cex is another direct bitcoin exchange where will be dealing with an cryptocurrency exchange/company and not with the individual sellers like in P2P deals. Cex.io is one the most reliant and decent exchange to buy bitcoin with credit card it also does offer etherum and BCH and DASH. At Cex you can always sell your BTC's unlike other cryptocurrecny exchanges cex doesn't require to have a certain amount of bitcoins to sell them out however fee could be a bit high when compared with Paxful and localbitcoins. You can buy as much as you want you can even start with $10. Cex also deals in Eth and Dash.
Charges: 0.16% for buyer excluding universal wallet transfer fee. just in case of transferring to another wallet 3.5% + $ 0.25 commission applicable for payments made from Visa/master card . For deposits and withdrawal charges can be variable Please refer to complete fee structure here. Note: Your account must be verified to qualify to trade in second tire however you need to get it verified to begin. It has a built in wallet for BTC and other cyrptocurrencies. Buy Bitcoin in Pakistan
Payment mods: Master/Visa. Commission Free Bank Transfer(Only for verified Users) and Commission Free Cyrpto Capital for verified users only.
4. Localbitcoins (P2P Trading)
One of the largest and cost effective, most active bitcoin exchange in Pakistan. It is a reliable P2P bitcoin exchange with more than thousands of local bitcoin sellers from Islamabad, Lahore and across Pakistan. Localbitcoin has presence in more than 200 Countries and above 15,000 cities making it the largest bitcoin exchange in the world. Localbitcoins lets you buy bitcoins via different payment mods now you can buy bitcoin in Pakistan with easypaisa, credit card and bank transfer. Note: Account verification not required for buying bitcoins in Pakistan however some bitcoin sellers may ask for it. Note: Localbitcoin has it own free bitcoin wallet. Read more for detailed review of localbitcoins.
Charges: Localbitcoin charges only universal 1% fee over total trade amount. Transferring your Bitcoin to any other wallet is subjected to be charged with 0.0008 bitcoin universal mining fee.
All your trades are backed escrow so there is no chance of fraud. Loclabitcoin has bitcoin wallet pakistan you can find deals on pakistan bitcoin exchange.
Payment Modes: At localbitcoin you can buy bitcoins with: Cash in hand(buy bitcoins in Pakistan on cash). You can Buy bitcoins with bank transfer and can also buy bitcoins with credit card in Pakistan. You can buy bitcoins in Pakistan with Easypaisa and Easypay. Tip: We recommend you to buy bitcoin online buying bitcoin with cash is prone to have associated security hazards since there is no way to provide a sort of security. However, online payment is backed by escrow. So what are you waiting for click to Buy Bitcoin in Pakistan.
5.Bitstamp (Direct Cryptocurrency/Bitcoin exchange. No P2P)
Just like the Cex.io and Coinmama Bitsamp is another UK based Cryptocurrecny exchange which also offers direct selling. At bitstamp you can buy bitcoins using your credit card.Once you have made a deposit in your account you'll be given a green signal to get bitcoins, later can be sold at bitstamp as well (we will talk about it later).Note:Bitstamp offers a built in bitcoin wallet. Two types of orders is been offered by bitstamp namely Instant and limit orders.instant orders are very simple to apply, but limit orders give you the influence over setting the fee you wish to pay or get to your bitcoins. it's far up to you to decide which one to use. we recommend instant orders for people who would like to make a change as soon as possible and restrict orders to people who've experience in dealing with crptocurrencies. Bitstamps also accepts Ripple, Etherum, Litecoin as deposit mod.The minimal allowable trade is five euro for euro denominated trading pairs. the minimum allowable alternate is 0.001 btc for btc denominated trading pairs. the fee of minimum trades in different buying and selling pairs might be denominated in the fiat forex of the specific trading pair and restricted to 5 entire gadgets of that forex (example: $5, £5, etc.).
Charges: 0..20% for a trade constituting <$20,000 in total. $10 to be charged against $10,000 for transferring bitcoins to your credit card from Bitstamp wallet. Purchasing with Credit Card is free however 5% charges applicable by credit issuing bank. Read Complete fee structure here
Payment Mods: Credit Card, International wire, Ripple, Etherum and Litecoin. Buy here
Final words: Localbitcoin.com is considerably the best option for a Pakistani investor or a beginner/student of cryptoworld. Since it is the largest P2P based Cryptocurrency exchange in the world and being one and only P2P bitcoin exchange in Pakistan which makes it easy to buy and sell bitcoins nothing sounds more attractive and feasible in terms of cost and ease of use.Tip:You can avoid 0.0008BTC of intra-wallet transfers while purchasing at LCL, BTC since it provides easy ways to sell BTC within or outside of Pakistan at any given time..
Important Note: Credit Card issuing banks are the reason behind additional ±5.50% charges over each purchase of BTC. Transferring your Bitcoins between any of the wallets is subject to bear a fair cut fee of 0.0008 bitcoins as universal mining fee and it is not exchange specific since transfer of funds requires high power of electricity as consumed by bitcoin miners.
0.0008 Bitcoin makes $14.55 or 1607.97 Pakistani rupees when converted into paper currency. *Cost conversion has been calculated by holding BTC constant at $18184.81.
All the necessary security measures have been maintained by the cryptocurrency exchanges stated above, security systems includes escrow, 2FA and login verification and other fundamental systems.
Pro tip Use UBL wiz card to avoid bank charges Always trade on escrow backed exchange.It is recommended to have 2FA enabled. Stay tuned for more Happy trading.
**Blog author is actively involved in Cryptocurrency and has been trading for the last 3 years.**
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