Why Bitcoin matters to Pakistan

Bitcoin is an interesting evolution in payment solutions. It is decentralized, open to everyone on the planet and backed by the most powerful distributed computing network in the world. But why does Bitcoin matter to Pakistan?

There are two main reasons:

Cheap money transfer: International payments are expensive. We don’t have Paypal in Pakistan so receiving or sending small amounts is quite costly. Bitcoin is cheap and open to everyone including Pakistanis.

Wide acceptability: Bitcoin transactions are irreversible so merchants are happy to take bitcoin. The fastest adopters are, predictably enough, in the technology sector. Lots of hosting providers and domain registrars now take bitcoin. Pakistani freelancers can now purchase these services and setup an online portfolio easily.

Currently Bitcoin is primarily a tool for those who are already conducting transactions online i.e. freelancers and free agents. In the future, however, it might prove to be a conduit for remittances from a wider audience i.e. the millions of expatriate Pakistanis working in countries around the world.

11 responses on “Why Bitcoin matters to Pakistan

  1. Muhammad Haroon

    Yep, Bitcoin is really amazing way to transfer funds by person to person at low costs. Nice write up by the way.

  2. Danyal

    I have put up some similar blogs on why bitcoins in important to Pakistan. A big cost on our tax budget is printing and reprinting of PKR and the way our people use currency notes is just very disrespectful and waste of power, and resources that go into reprinting. I for one believe Pakistan should switch over to a new currency with a name of Pak coin that should only be mine-able by the govt. All wallets should be digital and linked to bank accounts for transactions through qr codes etc. This will save us enormous amount of tax money by not requiring to reprint. Also will make transactions easy and quick. If implemented in the right way it can also eliminate snatching of money and secure everyone’s funds.

  3. Nauman

    how i can start bit coin buissness as a miner and is the machine available in pakistan…if available then where is the best place to buy

    1. Abdussamad Post author

      Bitcoin mining hardware is not available in Pakistan. Your best bet is to get into alt-coin mining and then convert those into bitcoin. Alt-coins you can mine with GPUs. You should go to bitcointalk forums and start reading about it. It takes a lot of research and is not something you can learn overnight.

  4. Firzok

    Hi I have a Core i3 processor in my laptop can i have profit from this if I mine bitcoins or not. Is there any other alternative I can use because I really want to earn money for my University Fee. Reply me soon

  5. Saad Khan

    Hi admin can you please tell me your contact details, as really want to learn about bitcoins its better if we can talk on phone.

    Thank you

  6. M.A.K

    Hi admin!
    is there a way i can learn how to earn from bitcoin through seminar or a presentation of some sort Or can i meet you personally for some help.

    M.A.K

  7. AK

    Hi Admin,

    I am working online. I heard about bitcoins and I want to receive and send payments through bitcoins but I don’t know how bitcoins works. From where I can buy these bitcoins etc Can you please let me know the details so that I can use bitcoins for online transactions.

    Many thanks

    1. Abdussamad Post author

      You can see the getting started article:

      https://bitcoinspakistan.com/blog/getting-started-with-bitcoin/

      Some FAQs:

      https://bitcoinspakistan.com/blog/bitcoin-beginners-faqs/