Now that you’ve made the decision to buy bitcoin it’s time to get started. You may be wondering where you can buy bitcoin and how to do it safely. Fear, not this guide has everything. You need to know about buying bitcoins in Pakistan. How to be smart and safe about your new digital currency investments.
What is Bitcoin?
Bitcoin is a cryptocurrency. Cryptocurrencies are virtual currencies that are created bought and sold electronically using a technology called a blockchain. The price of one Bitcoin rose from around $1,000 at the start of 2017 to more than $17,000 by December. Before dropping back down again. Many people have made huge amounts of money investing in digital currency. But it’s also proved a good way for fraudsters to make some quick cash too. To help you work out whether Bitcoin could be right for you here is our handy guide. On how much your Bitcoin is worth in dollars and euros.
Where to buy bitcoin in pakistan?
The first step is getting yourself a place to buy Bitcoin. If you have a friend or family member who has been around a while, they probably know someone who knows someone who owns Bitcoin already. If not, there are many ways you can find potential sellers online. The most popular sites are Coinbase, BitPanda and CoinHako. They all charge between 5-10% fees for buying Bitcoin with any currency other than dollars or euros. Once you buy your Bitcoins, it’s recommended that you move them out of the exchange as soon as possible and into your own wallet for safety reasons – although when it comes to Bitcoin security is always an issue and never something that can be 100% guaranteed.
Best websites for buying Bitcoin in Pakistan
You can buy bitcoins using a multitude of online resources like LocalBitcoins, Paxful, Coinbase, Binance. You can read more about these platforms on their Wikipedia pages: LocalBitcoins, Paxful, Coinbase, Binance. The best and safest method of buying bitcoins is via escrow. This is not something that should be done lightly or at face value as you could easily be scammed so ensure you do your research and are purchasing from a reputable source before making any purchases.
Best apps for buying Bitcoin in Pakistan
Just as you’d open an app like Venmo or PayPal when you need a quick transaction, Coinbase, Binance will appeal to people who want access to bitcoin with minimal effort. It’s not just for Bitcoin enthusiasts, though. In addition to Bitcoin, it supports Ethereum and Litecoin, two other popular cryptocurrencies that have also seen huge spikes in value (1). To make things even easier for first-time users, Coinbase has launched a new feature that allows anyone with a credit card or bank account linked to their accounts to instantly purchase cryptocurrency—even if they’ve never used digital currency before.
Safety tips for buying Bitcoin in Pakistan
When purchasing Bitcoin, you should always consider your security. Safety should be of utmost importance when making a purchase online, whether from an exchange or from another individual. Below are some tips on how to maintain safety during each step of your purchase