So you've got some Bitcoin and want to convert it into Pakistani Rupee? The good news is that several options have come to the surface with an increase in the popularity of cryptocurrencies via which Bitcoin can be converted into cash. Bitcoin is pretty much volatile and subject to various factors that determine its price. Frankly speaking, it is anticipated that there will come a day when Bitcoin will be used to buy everyday stuff instead of local currencies like PKR. But for the time being, we need to turn bitcoin into cash for many reasons. So, if you want to play safe, then turning crypto into local fiat currency can be a good strategy to save and make money. Since Bitcoin is new in Pakistan, that is why there is hardly any local exchange service available in the country. Therefore, you have to head over to other options in order to conduct a safe bitcoin transaction.
In this guide, I'll walk you through everything that you need to know for converting BTC to PKR in a convenient way. This reading includes popular ways of how to turn Bitcoin into cash in Pakistan and transfer it to a bank, PayPal, JazzCash, or any other payment account. It also covers how to exchange Bitcoin for Pakistani Rupee through online crypto exchanges, peer-to-peer trading platforms, and Bitcoin ATM. Keep reading till the end and you'll be able to decide which option you should choose in order to make money out of your bitcoins in the best possible way.
Cash out BTC to PKR Via Exchanges
Crypto exchanges are the marketplaces (websites) where you can buy and sell Bitcoin. This is by far the easiest method to turn Bitcoin into cash. You just need to sell the Bitcoin and the amount gets deposited in the linked bank account on these platforms. There are thousands of such exchanges on the internet offering conversion services. However, based on different factors, they can be divided into two groups. There are exchanges that don't allow you to make a fiat withdrawal for your Bitcoin and require you to go through a long KYC (know your customer) verification process. They charge a huge sum of money on each transaction. Whereas, on some websites, you don't need to get registered and pay a trading fee.
Moreover, it is equally important to learn that not all exchanges are safe and authentic. It is also the most common way to rip off people. In 2017, South Korean financial authorities and the local Bitcoin community exposed one of the most insidious Bitcoin scams: a fake exchange called BitKRX. It presented itself as part of the largest trading platform in the country and took people’s money. To avoid this type of online scams, you should choose the one which is way safer and meets all your needs. In either way, you have to consider your requirements before embarking on converting cryptocurrency to fiat money in Pakistan. If you want to sell Bitcoin for Pakistani Rupees and transfer to a bank account instantly then the popular btc-to-usd-converter.com and bitcoinscashout.com are better places to get started.
Convert BTC to PKR at btc-to-usd-converter.com
It is a free trading and instant payout exchange platform which is rendering services in over 150 countries. It accepts Bitcoin deposit and fiat withdrawal making the conversion of Bitcoin to Pakistani Rupee effortless and quick. Putting it simply, you can sell Bitcoin to them and get paid in your local fiat currency such as PKR. The best thing about the service is that you can kick start transactions of BTC to PKR with just an email address. There is KYC and registration is required. The Bitcoin calculator for PKR cash converter makes conversions at the current market price. By default, it will show you 1 BTC to PKR price in Pakistan which you can change with any amount.
Following are some of its salient features which make it the best Bitcoin to Rupee converter for you.
Withdrawal Options: The platform allows you to sell Bitcoin for PKR and then withdraw the resulting money via bank transfers, PayPal, Skrill, Western Union, direct cash deposit and many more. You can also cash out bitcoin to Credit cards in Pakistan here.
Fees: There are no trading and hidden charges here. You can buy and sell Bitcoin in Pakistan without paying a single penny.
Cash Out Time: The transaction time normally depends on your withdrawal method and bank processing mechanism. If all goes well, then you'll receive payment in your local currency within hours.
Registration: The KYC process can make you feel a sense of security, but it is cumbersome and time-consuming. If you want to convert BTC to PKR instantly, then the platform allows you to make anonymous conversions with no sign-up required.
Availability: More than 1 million people are currently using its services from all around the world.
How to Turn BTC to PKR Instantly
Cashing out Bitcoin in Pakistan using the exchange mention above is super easy and requires only a few clicks. Follow these steps to deposit Bitcoin into a Pakistani bank account.
- Head over to the homepage of btc-to-usd-converter.com
- Click on the 'Order Now' button to initiate your transaction.
- Now you'll see a Bitcoin currency converter tool with a value of 1BTC in PKR.
- Provide the amount of Bitcoin in the left cell that you want to convert.
- Now in the right cell, you'll see the total amount in Pakistani Rupee.
- Choose any payment method to get paid (e.g. bank wire transfer).
- Provide basic information like A/C holder name, swift code, bank code, and IBAN.
- Click on the 'Order Now' button.
- Now you'll transaction details with a QR code.
- Send the amount of Bitcoin to the wallet address.
- Copy and check all the transaction details for further use.
- Now when done, hit on the 'Confirm' button.
Congratulations, you've successfully converted BTC to PKR and transfer funds to your bank account. It is simple yet not the only option available. You can also move on to P2P trading in order to sell bitcoin for Pakistani rupee directly.
Convert Bitcoin into PKR with P2P Trading
So far you've learned how to cash out Bitcoin in Pakistan using a crypto exchange, it is time to know how to turn Bitcoin to cash in Pakistan using a P2P platform. A P2P is a marketplace that brings buyers and sellers in one place. There are many such websites on the internet where people create an order and then meet in person for further transactions. The great thing about it is that you can request any payment method you want. Like you ask the buyer to send cash to your bank account once the trade is done. Remember that you should always ask them for proof of ID and proof of payment first. Upon receiving this information, you can finally give them your bitcoins. It may be a safe option only if you know what is happening exactly. It is important that you know much about fraudsters. Local Bitcoin is one of these peer-to-peer platforms. There are many buyers and sellers from Pakistan who can be seen trading on these platforms. It provides an escrow service which means that you can hold Bitcoin until you receive cash payments in your account.
Cash out BTC to PKR Using BATM
Like a regular bank ATM machine that you use to withdraw funds, Bitcoin ATM Machine allows users to convert bitcoin to fiat currencies. Some BATMs support two-way transactions i.e. buying and selling bitcoin. Currently, there are more than 25,000 total Bitcoin ATMs installed in major cities of advanced countries like the USA, UK, Canada, South Korea, Australia and others. You can find a two-way Bitcoin ATM near you with any number of Bitcoin ATM live maps. You can also use any ATM Radar service to locate one around you.
To use a Bitcoin ATM, simply:
- Choose the withdraw cash option
- Select “Bitcoin” to sell
- Enter the amount you wish to withdraw
- Send the equivalent Bitcoin to the given address
- Collect your cash.
It is one of the fastest methods to turn Bitcoin into cash. Sadly, according to the latest Blockchain technology reports, there is no BATM installed in Pakistan. We hope the future holds much more for Bitcoin traders in Pakistan.
As you can see that there is no shortage of options to convert Bitcoin into Pakistani rupee. I've walked you through popular methods of crypto exchange and peer-to-peer trading. The website btc-to-usd-converter is an ideal choice for people who want to cash out BTC to PKR instantly and without paying any trading charges. While some people may find P2P and Bitcoin ATM more anonymous and promising. Each method has its pros and cons depending on your needs. I hope this article has been helpful for you while choosing the best method to convert your bitcoins into cash. So which option did you like the most? Are you going to use btc-to-usd-converter.com for converting Bitcoin or a P2P platform? Let me know of your favorite option or any other service that you've used before.