Hi, I have been planning to invest in cryptocurrency for almost 6 months now and just read yesterday that Bitcoin specifically has soared upto as high as $6000. I want to know if anyone here has already invested in the currencyor can guide me further about the scenario in Pakistan. I gather that it is illegal in Pakistan with a lot of risk involved but I somehow feel I should still invest in it.

Question 1

10212700719584868

9 Answers

10212700719584868 · Answer · 2017-10-22T13:17:32+0000

One of my friend has invested in bitcoin through some Pakistani agency 6 months ago but I still think that in Pakistan there is no authentic way for crypto trading

1252243711569395 · Answer · 2017-10-22T17:13:16+0000

trading in cryptocurrency cannot be caught by any govt. as it is toatally an online process and no involvement of hard cash unless u r doing it openly in any office etc. Also u should learn how to trade (buy/sell) cryptocoins rather than just invest and wait for high prices if u want to get real profits

1588519731166996 · Answer · 2017-10-22T17:26:31+0000

Not really sure about this news but suggestion is to not invest in any crypto currency.. My younger brother has lost his money in bitcoins. Actually there is no solid base at the backend of bitcoins and if you lost your money you can't report anyone, you can't do anything..

10155561386611223 · Answer · 2017-10-22T19:14:00+0000

Invest only what you can afford to lose its not illegal

1682411358495551 · Answer · 2017-10-22T19:28:40+0000

I have seen this video on bit coin, may be it will help u in understanding of this process and all pros and cons. https://m.facebook.com/story.php?story_fbid=2000203356889945&id=1779549865621963

10159525898615392 · Answer · 2017-10-22T22:48:42+0000

Bitcoin is not illegal but operating bitcoin exchange in illegal in Pakistan. Price of bitcoin is still expected to go beyond $10,000 . But its a long term investment and its not for the weak hearted. Bit coin prices will crash in short term but definitely rise in the longer term. Yes there is no real asset backing bitcoin. The prices are purely based on demand and supply. There are limited number of bitcoins that can exist. I live in netherlands So here we have legal exchanges and bitcoin ATM where you can go buy and sell bitcoins . But Again its a long term investment and not like traditional trading. BEst authentic information on how to start on bitcoin is on bitcoin.org . Do lots of reading before you invest. Invest only once you understand the technology . And if you know what you are doing then bitcoin is probably the most safest way to store money , Even large bank are thinking about using the block chain technology .