Are you searching for the best Bitcoin wallet in Pakistan or wondering about the most reliable BTC wallet in Pakistan? Look no further! Our guide dives into the world of cryptocurrency in Pakistan, offering you the latest insights on the best crypto wallet in Pakistan. Whether you’re a seasoned investor or a newcomer, understanding the nuances of the best Bitcoin wallet for Pakistan is crucial.
We’ll explore the most trusted and efficient Pakistan Bitcoin wallet options, ensuring you have all the information to make informed decisions in the rapidly evolving crypto landscape. Stay ahead in the digital currency realm with our expert advice on securing your digital assets in the best Bitcoin wallet in Pakistan.
What you'll learn 👉
Crypto Regulations in Pakistan
Recent news indicates that Pakistan has imposed a ban on cryptocurrencies, with the government declaring that crypto trading will not be legalized. Aisha Ghaus Pasha, the Minister of State for Finance and Revenue, affirmed that the legalization of cryptocurrencies is not an option in Pakistan. This stance aligns with the requirements of the Financial Action Task Force (FATF), which has stipulated that cryptocurrencies must remain illegal as a condition for Pakistan to avoid being placed on its “Grey List,” a designation for countries under increased monitoring.
The State Bank of Pakistan (SBP) and the Ministry of Information Technology have been directed to take steps towards implementing this ban. Concurrently, Pakistani banks have begun notifying their customers that trading in cryptocurrencies is illegal. Despite these measures, the popularity of cryptocurrencies continues to rise in Pakistan, with reports suggesting that Pakistani citizens held around $20 billion in crypto assets in 2021.
However, the State Bank of Pakistan has not granted authorization to any individual or entity for engaging in the sale, purchase, exchange, or investment in virtual currencies, coins, and tokens. This lack of official regulation has led to several arrests under money laundering charges, particularly in cases involving the mining of Bitcoin and other cryptocurrencies.
Easiest and cheapest ways to buy crypto in Sri Lanka
No matter where they live, people always seek the easiest and cheapest way to buy bitcoin. Buying crypto in Pakistan is a bit harder than in some other countries so we have compiled a list of exchanges where Pakistanis can buy bitcoin.
👛 Ease of Use – Medium 👛 Fees – Low 👛 Verification – 1 Day 👛 Reputation – Trusted 👛 Supported fiat – USD, EUR, GBP, AUD, RUB
Launched in July 2017, Binance quickly became the world’s largest centralized crypto exchange, with more than $15 billion in daily trading volume. It has over 30 million users all over the world. Binance offers an impressive number of cryptocurrencies that you can buy, sell, and trade with low trading fees.
Binance is considered one of the safest cryptocurrency exchanges on the market. Binance provides 2FA and both cold storage and multi-sig wallets. It supports spot trading, futures, P2P trading, margin trading, earn (locked and fixed savings, DeFi staking, and yield farming), mining and staking pools. It has over 350+ cryptocurrencies available for trade and 1300+ trading pairs.
⚡️ Deposit fees: Free ⚡️ Withdrawal fees: Vary from crypto to crypto ⚡️ Trading fees: 0.1% ⚡️ Payment Methods: Debit Card, Credit Card, SWIFT, Bank Transfer (SEPA), and more ⚡️ Supported fiat: USD, EUR, GBP, AUD, RUB, and 15+ more
Low fees High liquidity Excellent mobile app Well-established and trusted
👛 Ease of Use – Easy 👛 Fees – Average 👛 Verification – 2-3 Days 👛 Reputation – Trusted 👛 Supported fiat – USD, EUR, GBP, JPY, CAD
Kraken stands as a premier cryptocurrency exchange that has been serving the crypto community since 2011. With its platform, users can buy, sell, and trade over 220 different digital assets, including but not limited to Bitcoin, Ethereum, and Cardano. One of Kraken’s most notable features is its unwavering commitment to security, ensuring that users’ assets are protected.
The platform is globally accessible, reaching over 190 countries, though there are a few exceptions like North Korea and New York state. Furthermore, Kraken offers a plethora of payment methods, from traditional credit cards to modern solutions like Apple Pay.
For those dealing in fiat, multiple currencies are accepted, with the U.S. dollar being a popular choice. Advanced traders will also find the platform accommodating, with tools tailored to their needs.
⚡️ Deposit fees: EUR SEPA Deposit (Free) – EEA countries only USD Bank Wire Deposit ($5 USD) – US onlyEUR Bank Wire Deposit (€10) – outside the US only USD Bank Wire Deposit ($10 USD) – outside US onlyJPY Bank deposit (Free, ¥5,000 deposit minimum) – Japan-only USD, Wire Deposit (Free) ⚡️ Withdrawal fees: Cryptocurrency: Fees vary, SEPA Withdrawal (€0.09) – EEA countries only USD Bank Wire Withdrawal ($5 USD) – US only USD Bank Wire Withdrawal ($60 USD) – outside US onlyEUR Bank Wire Withdrawal (€60) – outside US onlyJPY Bank withdrawal (¥20) – Japan onlyCAD EFT Withdrawal ($10 CAD) ⚡️ Trading fees: Maker: 0.16%Taker: 0.28% ⚡️ Payment Methods: Fedwire, Bank Transfer (SEPA), SWIFT, Wire Transfer, Etana Custody, Silvergate Exchange Network (SEN), FPS, CHAPS, and BACS, PayID, Osko ⚡️ Supported fiat: USD, EUR, GBP, JPY, CAD
170+ countries supported Never been hacked Mobile App (iOS and Android) Various payment methods A wide range of cryptocurrencies is available
Fees slightly above the industry average Limited customer support
👛 Ease of Use – Easy 👛 Fees – High 👛 Verification – 1 Day 👛 Reputation – Trusted 👛 Supported fiat – USD, EUR, GBP, RUB
Cex.io is one of the older centralized cryptocurrency exchanges that is still going strong, adding new coins and features to its trading platform every month. Founded in 2013, this exchange is one of the oldest Bitcoin exchanges. Cex.io is based in London, UK.
Cex.io is a global exchange that is available in over 180 countries and is registered with FinCEN. The platform follows AML (anti-money laundering) and KYC (know your customer) policies and offers a range of services including fiat to crypto purchases, spot trading, margin trading, staking, leverage, lending, and savings.
Regulated and licensed Over 4 million users worldwide Fast support Various payment options
Just 4 fiat currencies are available Extensive Verification Process
Best Bitcoin Wallets in Pakistan
It is never a good idea to keep your coins on an exchange as that exposes you to numerous risks (exchange hacks, fund freezes by the exchange or some government regulatory body, etc). That is why you should use one of the wallets we list below to store your digital assets.
But, which bitcoin wallet is available in this country?
The safest option is a hardware wallet like Nano X but ZenGo is also a good choice, especially for newcomers.
👛 Ease of Use – Easy 👛 Fees – Low 👛 Verification – 1 Day 👛 Reputation – Trusted 👛 Supported fiat – USD, EUR, GBP, and more
LocalBitcoins is one of the largest peer-to-peer service platforms on the crypto market. It was launched in 2012 in Finland and was founded by Nikolaus Kangas. Since then, LocalBitcoins has achieved enormous growth, which led to it becoming the leading marketplace for Bitcoin exchange services. The only currency LocalBitcoins supports is Bitcoin.
The feature that makes LocalBitcoins unique is the direct contact between users. Most exchanges match sellers and buyers manually without the possibility of communicating directly. Users from all around the world can meet and trade Bitcoins through a fairly simple process. This is why LocalBitcoins is considered to be the “Craigslist” of Bitcoin. The platform is accessible worldwide, precisely in 248 countries.
However, services of LocalBitcoins aren’t available in Washington and New York. Features such as futures trading, derivatives, margin trading, short selling, or any other option aren’t supported. This is because LocalBitcoins doesn’t work as a traditional trading platform.
👛 Ease of Use – Easy 👛 Fees – High 👛 Verification – 1 Day 👛 Reputation – Trusted 👛 Supported fiat – USD, EUR, GBP, CAD, AUD
Coinmama is one of the oldest centralized cryptocurrency exchanges on the market. It was founded in Israel in 2013. Today, Coinmama’s head office is in Dublin, Ireland. Using this crypto exchange, you can easily and quickly buy and sell 10 different cryptocurrencies.
Coinmama is a cryptocurrency exchange that allows users to buy and sell a small selection of digital assets using various payment methods, including credit cards, bank account transfers, and payment apps. It is known for its easy-to-use platform and fast verification process, but it has high fees and a limited selection of cryptocurrencies. It also does not offer a wallet service and has mediocre educational content. Coinmama may be a good fit for those who want to make occasional small crypto purchases, but it may not be suitable for long-term use due to its high fees and limited features.
⚡️ Deposit fees: 0 – 5 % ⚡️ Withdrawal fees: None ⚡️ Trading fees: 2.9 – 3.9 % ⚡️ Payment Methods: Bank Transfer (SEPA), SWIFT, Fedwire, Bank cards, Open Banking, Google Pay, Apple Pay, Skrill ⚡️ Supported fiat: USD, EUR, GBP, CAD, AUD
150+ countries supported Mobile App (iOS and Android) Various payment methods Quick verification process
Fees above the industry average Only 10 cryptocurrencies No wallet or trading options, just purchases or sells
👛 Ease of Use – Easy 👛 Fees – Low 👛 Verification – 1 Day 👛 Reputation – Trusted 👛 Supported fiat – USD, EUR, GBP, CAD, AUD
Paxful is a cryptocurrency exchange platform that has operated since 2015, with its headquarters in New York, United States. As of now, Paxful is one of the longest operating P2P Bitcoin crypto exchanges.
The platform has almost 5 million users that can interact between themselves to buy, sell or trade one of the 3 offered cryptocurrencies. Paxful supports a vast majority of countries with the exception of OFAC Banned Countries. Their goal is to keep Bitcoin trading as easy and straightforward as possible.
⚡️ Deposit fees: Free ⚡️ Withdrawal fees: 0.5% – 5% ⚡️ Trading fees: No buyer fee, seller fee varies from 0.5% to 5% ⚡️ Payment Methods: Over 350 payment methods are available ⚡️ Supported fiat: USD, EUR, GBP, CAD, AUD, and many more
350+ Payment Methods Good customer support Straightforward and easy to use
High exchange rates A lot of scammers
Frequently asked questions about buying Bitcoin in Pakistan
How can I sell Bitcoin in Pakistan❓
You can sell Bitcoin in Pakistan with 40 different methods with the most popular being the bank transfer.
Can I buy Bitcoin for 1000 rupees❓
You can buy a fraction of a Bitcoin. For instance, you can buy Bitcoin for Rs 100 or Rs 1,000. Editor: The latest Bitcoin price (1 BTC) as of this posting is Rs 66,122
Can I withdraw Bitcoin in Pakistan❓
The best way to withdraw cryptocurrencies in Pakistan involves a crypto exchange. Here I would recommend or rather suggest Binance Exchange that you can use to withdraw and deposit cryptocurrencies in Pakistan. This exchange has the feature of a P2P wallet (Peer to peer).
Why is Bitcoin Banned in Pakistan❓
A committee headed by Sima Kamil, the deputy governor of the State Bank of Pakistan (SBP), its central bank, has proposed to ban the use of cryptocurrencies in the country. It cited concerns on the use of cryptocurrencies for money laundering and financing terrorism
Can You Purchase BTC Anonymously in Pakistan❓
To purchase BTC anonymously with no KYC verification in Pakistan you have to find a seller willing to transact with you.
Should I leave my bitcoins on an exchange after buying❓
It is not wise to keep large amounts of cryptocurrency in any hot wallet, especially an exchange account. Instead, it is suggested that you withdraw the majority of funds to your own personal “cold” wallet
Is Bitcoin Legal in Pakistan❓
Cryptocurrencies including bitcoin are not officially regulated in Pakistan; however, it is not illegal or banned. As of 16 January 2021, the State Bank of Pakistan has not authorized any individuals or organizations to carry out the sale, purchase, exchange, and investment of virtual currencies, coins, and tokens.
How can I buy Bitcoin with a credit card in Pakistan❓
The easiest way is from the Coinmama exchange.
How are regular people making returns of as much as 70% in a year with no risk? By properly setting up a FREE Pionex grid bot - click the button to learn more.
Crypto arbitrage still works like a charm, if you do it right! Check out Alphador, leading crypto arbitrage bot to learn the best way of doing it.
As the Head of Content at Captainaltcoin, I bring years of experience in the crypto industry. With a strong belief in the potential of the web3 market since 2017, I'm passionate about sharing valuable insights and knowledge.
Feel free to connect with me on LinkedIn and let's discuss the exciting world of cryptocurrencies and decentralized technologies!
