I wonder whether there are any other resident Pakistanis on this board? So far I haven't encountered any but according to bitnodes there a few bitcoin users in Pakistan and I know of at least one miner.
Anyway let's see if any show up
If you are looking to safely buy or sell bitcoins in Pakistan check out localbitcoins.
Anyway let's see if any show up
If you are looking to safely buy or sell bitcoins in Pakistan check out localbitcoins.
localbitcoins per to rate boht high ha kia chakkar ha 8 Lac per btc around mang rhe hen wasy btc $6000 chal rha ha itni high fee ?
any other way to buy under 125 Rupees per $ ?
I think there are other reasons for the higher rates besides the exchange rate. The rupee is due for a further round of devaluation and the SBP has made it harder to buy foreign fiat currencies like dollars and euros. So I'm guessing that's why people are piling into bitcoin.
Are you aware that you don't have to buy a whole bitcoin? Bitcoin is divisible to 8 decimal places so buy a fraction of a coin if you can't afford a whole coin.
I know that but price even goes to 150 Rupees per $ buy from these exchangers $ price is open market today around 125 why they charging so much fee for bitcoin any reason 2-3 Rupees is fair fee per $ isn't it ?
Lack of competition is the reason. Few people in Pakistan are interested in trading bitcoin. Another reason is that bitcoin is volatile and the few percentage points of margin they have can easily be blown away by a quick pump or slide in the price. In localbitcoins to post an "online ad" (as opposed to an in-person cash ad) you have to store bitcoins in your localbitcoins wallet so you are affected by the volatile price of bitcoin. I imagine these guys selling bitcoin "online" short it on an exchange simultaneously to protect themselves from the downside.
The other problem is that the SBP has barred banks from processing payments for bitcoin so you can't fund your account at an international exchange via bank wire transfer. Buying via credit card is also not possible for the same reason (it would be risky IMO). Besides they recently added a 3% tax on all foreign currency credit/debit card transactions. So there are few alternatives to OTC sites like localbitcoins.