How to Buy and Sell Cryptocurrency in Pakistan Safely – A Complete Guide

This comprehensive guide will walk you through how to buy and sell cryptocurrency in Pakistan safely, covering everything from choosing the right exchange to securing your investments.

TechMagPKMarch 25, 2025

60 3 minutes read

Cryptocurrency has gained immense popularity in Pakistan, with more people looking to invest in Bitcoin, Ethereum, and other digital assets. However, buying and selling crypto in Pakistan comes with challenges, including regulatory uncertainty and security risks.

This comprehensive guide will walk you through how to buy and sell cryptocurrency in Pakistan safely, covering everything from choosing the right exchange to securing your investments.

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1. Understanding Cryptocurrency in Pakistan

Before diving into buying and selling, it’s essential to understand the legal and financial landscape of cryptocurrency in Pakistan.

Is cryptocurrency legal in Pakistan?

The State Bank of Pakistan (SBP) has not officially recognized cryptocurrencies as legal tender. However, there are no explicit bans on trading or holding crypto. Many Pakistanis still buy and sell cryptocurrency in Pakistan through peer-to-peer (P2P) platforms and international exchanges.

Popular Cryptocurrencies in Pakistan

The most traded cryptocurrencies in Pakistan include:

Bitcoin (BTC) is the most widely recognized crypto.
Ethereum (ETH) is popular for smart contracts and DeFi.
Binance Coin (BNB): Used for trading fee discounts.
Tether (USDT): A stablecoin pegged to the US dollar.

2. Choosing a Reliable Cryptocurrency Exchange

To buy and sell cryptocurrency in Pakistan, you need a secure and user-friendly exchange. Here are the best options:

a) Binance P2P

Binance is the largest crypto exchange globally and offers a P2P (peer-to-peer) trading feature, allowing users to trade directly with others in PKR.

Pros:

Low fees
Escrow protection
Multiple payment methods (bank transfer, JazzCash, EasyPaisa)

b) LocalBitcoins (Now Closed; Alternatives Available)

While LocalBitcoins has shut down, other P2P platforms like Paxful and Binance P2P serve as excellent alternatives.

c) Kraken & Coinbase (For Advanced Traders)

These platforms offer more trading pairs but require international transactions, which can be tricky due to Pakistan’s banking restrictions.

d) Local Pakistani Exchanges

Some local platforms, like Urdubit (now defunct), previously operated, but most have shut down due to regulatory pressure. Stick to global exchanges with P2P support for safety.

3. How to Buy Cryptocurrency in Pakistan

Here’s a step-by-step guide to purchasing crypto safely:

Step 1: Sign Up on a Trusted Exchange

Create an account on Binance or another P2P platform.
Complete KYC (Know Your Customer) verification for higher limits.

Step 2: Deposit PKR via P2P

Go to the P2P trading section and select a seller.
Choose a payment method (bank transfer, JazzCash, etc.).
The seller releases crypto once payment is confirmed.

Step 3: Store Your Crypto Securely

Withdraw to a private wallet (like Trust Wallet or Ledger) for long-term holding.
Avoid keeping large amounts on exchanges due to hacking risks.

4. How to Sell Cryptocurrency in Pakistan

Selling crypto for PKR follows a similar P2P process:

Step 1: Transfer Crypto to Your Exchange Wallet

If holding in a private wallet, send funds to your Binance or Paxful account.

Step 2: Find a Buyer on P2P

List your crypto for sale or browse buy offers.
Agree on a rate and wait for the buyer’s payment.

Step 3: Confirm Payment and Release Crypto

Once the buyer sends PKR (via bank/JazzCash), release the crypto from escrow.
Always double-check payment receipts to avoid scams.

5. Safe Practices for Buying and Selling Cryptocurrency in Pakistan

a) Avoid Scams

Only trade with verified merchants (high completion rates).
Never share private keys or OTPs.
Use escrow protection (never trade outside the platform).

b) Secure Your Investments

Enable 2FA (Two-Factor Authentication) on exchanges.
Use hardware wallets (Ledger, Trezor) for large holdings.
Be cautious of phishing websites (always check URLs).

c) Tax and Legal Considerations

While Pakistan doesn’t tax crypto yet, keep records for future compliance.
Avoid money laundering risks by dealing with trusted parties.

6. Best Payment Methods for Crypto Trading in Pakistan

Since banks block crypto transactions, P2P methods are the safest:

Bank Transfer: Direct but slower.
JazzCash/EasyPaisa: Instant but may have limits.
Cash in Person (Risky): Only with trusted parties.

7. Future of Cryptocurrency in Pakistan

The government is exploring CBDCs (Central Bank Digital Currencies), but Bitcoin and altcoins remain popular. With proper regulation, crypto trading could become more accessible.

Conclusion

Buying and selling cryptocurrency in Pakistan requires caution, but with the right approach, it can be a profitable venture. Stick to trusted P2P exchanges, secure your assets, and stay updated on regulations.

By following this guide, you can safely buy and sell cryptocurrency in Pakistan while minimizing risks. Happy trading!