Quick Manual: How to buy Crypto and Bitcoin in Pakistan

CEX.IO is a globally recognized Bitcoin exchange platform that provides reliable cryptocurrency trading solutions to millions worldwide, including users in Pakistan. 

In 2018, the State Bank of Pakistan (SBP) and the Federal Board of Revenue imposed a ban on digital currencies, explicitly prohibiting their use as legal tender. This means cryptocurrencies cannot be used to purchase goods or pay for services within the country. However, the ban does not explicitly prevent enthusiasts from buying, selling, or trading crypto through international exchanges, allowing Pakistanis to participate in the global cryptocurrency market.

Hence, many individuals use platforms like CEX.IO to securely buy, sell, and trade Bitcoin, USDT, and over 200 other digital assets. How? Read our guide and find out. 

How to Buy Crypto in Pakistan: Step-by-Step Guide

There are many ways to obtain crypto through CEX.IO. Experienced enthusiasts can trade Bitcoin, USDT, and other vetted cryptocurrencies through Spot Trading, using our historical price charts and advanced place orders. Alternatively, Pakistan-based users can acquire digital assets instantly using different payment methods through Convert. This allows them to obtain crypto beyond trading at its current market price. Here’s how: 

1. Register and verify your account. This not only allows you to receive a free crypto wallet and use Convert but also provides access to a wide range of CEX.IO services and features, including Spot Trading, Crypto Staking, and Savings programs. 
2. Log in to your CEX.IO account. 
3. Navigate to Wallet from the dashboard or under the Products menu. 
4. Choose Bitcoin, USDT, or other preferred cryptocurrency from the list of vetted assets. 
5. Click Add Funds and choose Deposit Address. 
6. Enter the amount you want to deposit. 
7. Transfer crypto from your external wallet.
8. When funds arrive at CEX.IO, go to Wallet page and click Convert next to the deposited asset.
9. Choose what crypto you want to receive and enter the amount.

Legal Framework and Regulations in Pakistan

Pakistan’s government has yet to formally regulate cryptocurrencies. The State Bank of Pakistan (SBP) has cautioned against crypto-related risks but hasn’t implemented a blanket ban on owning or trading digital assets. This creates a pathway for crypto enthusiasts, who are free to use international platforms like CEX.IO to buy and trade crypto securely. However, users are advised to stay updated with evolving policies and ensure compliance with local laws.

(H2) FAQs

(H3) Is crypto legal in Pakistan?

Cryptocurrencies are not officially regulated in Pakistan. However, owning and trading crypto via international platforms like CEX.IO is possible.

(H3) Is there a Bitcoin ATM in Pakistan?

Yes, a few crypto ATMs have been installed in major cities like Islamabad, Lahore, and Karachi. However, platforms like CEX.IO provide a convenient alternative by allowing users to withdraw Bitcoin to external wallets and cash out fiat through a user-friendly interface.

(H3) How to buy USDT in Pakistan?

Pakistan-based users can obtain USDT through various decentralized and centralized crypto exchanges. When it comes to CEX.IO, users can buy USDT through Spot Trading, or our Wallet function via the web browser platform or mobile app. 

(H3) How do I track the value of my crypto? 

To stay updated on the real-time value of your cryptocurrency holdings, you can utilize our live crypto prices page. This comprehensive tool provides accurate and up-to-the-minute pricing information for a wide range of digital assets.