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All You Need To Know About Bitcoin in Pakistan

Now a days bitcoin (BTC) hype is everywhere in Pakistan, people are interested to know more about this virtual currency, some consider it as virtual assets. Many people were able to make a lot of money with its price increase, same way like gold bitcoin price go up and down.

What is Bitcoin?

Bitcoin is a digital currency that was created in 2009 by an unknown person in corporation to Satoshi Nakamoto. Transactions are made with no mid ally which means, no banks or states! There are no transaction charges and no need to give your real identity. More and more merchants and companies are beginning to accept Bitcoins.You can buy Online based services and make instant transaction as well as an investment in the stock market or in storage for value.

Bitcoin logo

Bitcoin and other cryptocurrencies are now considered as a future of money, its now legal currency in Japan. Big companies like PayPal, Microsoft, Dell are now accepting Bitcoin payments.

What is Bitcoin mining work?

Well you must once wished that, if you can get a money making machine. You just turn on button and it start making money for you. Well this dream is true now but little expensive. In conventional plain money systems, governments prints more money when they need to in form of notes. But in bitcoin, money isn’t printed at all but digitally created as it is discovered. Computers around the world ‘mine’ for coins by competing with each other.

bitcoin mining machine

How to store Bitcoins ?

Well in short, there are many ways to store bitcoin online and even offline (Cold storage). You can even print your bitcoins on a simple paper, you can hold in some device like Trezor. But for s starter most convenient way is to store on some e wallet such as Blockchain and Coinbase.

How to Buy and sell bitcoin in Pakistan?

There are few exchanges offering bitcoin exchange online, so you can buy and sell bitcoin against PKR.

Buy Bitcoins (PKR to BTC) in Pakistan:

You can now buy Bitcoins (BTC) using Pay Exchanger via easy methods of paying in PKR such as Bank transfer, EasyPaisa or Cash (Lahore only) securely.

Sell Bitcoins (BTC to PKR) in Pakistan:

As feasible as it sounds,You will be able to sell your Bitcoin easily and withdraw them in PKR in your local bank or various other convenient payment methods like MobiCash, EasyPaisa ETC.

Note: There are many scammers around, so deal with care when buying and selling bitcoin online. Always check website reviews, do your search before making payment.

Future of Bitcoin

So what does the future hold for Bitcoin? It has many benefits and for this particular reason it will remain relevant as a currency. The vast majority of BTC transactions by volume are being made all over the world right now.

The biggest risk to Bitcoin is only the use of other crypto currencies. Bitcoin old holders think that this is never going to be an issue since Bitcoin was the first of its kind and as such enjoys first-mover privilege. This argument is probably mistaken because although the BTC is used for payments, this is only a relatively small percentage of all Bitcoins. One of its main use is being a store of value and for this reason other crypto currencies can always step in and enjoy similar status if risen demand requires it.