In our last article, we answered, what are Bitcoins? How are they created? And where they can be used? Now it’s time to learn to use them. Many people in Pakistan look forward to investing in Bitcoins, but they don’t find any online guidance for getting started with it. In order to cater this need, I am sharing detailed steps involved in buying and selling bitcoins in Pakistan easily and in a secure way.
See also: How to buy Bitcoins using credit card in Pakistan
The exchange we will use is LocalBitcoins. The reason for this choice is that a large number of Pakistani vendors are available there, thus we can do transactions in Rupees through our local banks. Another reason is that many payment options are available (eg. cash, online bank transaction, Western Union etc.) and transaction are processed very fast, usually within an hour. Let’s see how to get started with LocalBitcoins.
NOTE: If you are buying Bitcoin as an investment, please do so at your own risk. Past growth doesn’t necessarily guarantee future growth and high profits in return.
Once you have acquired bitcoins, you can access them through your wallet and use them wherever they are acceptable.
LocalBitcoins is more like an online marketplace where buyers and sellers are connected with each other. The transaction fees are low and are applied only if other person’s wallet is outside LocalBitcoins. The best thing is that this service is available in Pakistan. If you have any questions feel free to leave your comment below.
In the next story, we will talk about different kind of wallets for storing cryptocurrencies specially Bitcoins.
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