How To Buy Bitcoin in Pakistan?

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.

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.

Established & high liquidity
How To Buy Bitcoin in Pakistan?

Binance

👛 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.
More info +
Regulated & high liquidity
How To Buy Bitcoin in Pakistan?

Kraken

👛 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.
More info +
Regulated & long established
How To Buy Bitcoin in Pakistan?

Cex.io

👛 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.
More info +

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.

Bottom Line
Pros
Cons
ZenGo
ZenGo
Mobile
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Bottom Line
ZenGo is an easy iOS/Android Bitcoin & cryptocurrency wallet. Getting started takes less than 20 seconds.
Pros
extremely safe as it uses biometrics for security
you can buy crypto directly from it
has savings and staking account
Cons
No major flaws
Exodus
Exodus
Desktop
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Bottom Line
Electrum is one of the oldest and most popular desktop multi-currency wallets which is compatible with Windows, Mac, and Linux
Pros
One of the oldest wallets in the market
you can buy and stake directly from the wallet
supports all major coins and blockchains
Cons
Not completely open source
Ledger Nano X
Ledger Nano X
Hardware
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Bottom Line
Ledger Nano X is a leading and most secure cold storage wallet that connects to your device via Bluetooth.
Pros
Safest wallet in the market
competitive price
supports a lot of coins
you can buy directly from the wallet
stake directly from the wallet
Cons
Small display
complicated to setup for newbies

Read also:

Established & high liquidity
Localbitcoins

LocalBitcoins

👛 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.
More info +
Regulated & very safe
How To Buy Bitcoin in Pakistan?

Coinmama

👛 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.
More info +
Regulated & high liquidity
paxful

Paxful

👛 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.
More info +

Frequently asked questions about buying Bitcoin in Pakistan

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Petar Jovanović
Petar Jovanović

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!

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