How to withdraw cryptocurrencies in Pakistan

If you’re looking to deposit or withdraw cryptocurrencies in Pakistan in 2021, this is a useful article for you. Here you will be guided step by step through the process that will help you withdraw or deposit the major cryptocurrencies in Pakistan.

Cryptocurrencies are digital assets one can trade, exchange, and can use as a medium of exchange to purchase or sell products and services.

Cryptocurrencies are currently at their boom since December 2017. If you have purchased and holding cryptocurrencies and wanted to cash out right now as they are at their peak. It’s very simple. Because many people in Pakistan were holding Dogecoin when it was selling at pennies just a few months earlier. But now it has increased by 5000% just in months and currently, it is trading at $0.6.

The best way to deposit or withdraw major cryptocurrencies in Pakistan is through Cashmaal. By clicking here:

Cashmaal official website

After registering on cashmaal, you will be required to verify your identity by submitting your valid CNIC or Passport. Then you will find your dashboard like this one, But it will not show you the numbers because you have yet not deposited or withdrawn any amount.

Cashmaal accepts Easypaisa, JazzCash, your bank account, bitcoin, Tron coin, bitcoin cash, Ethereum coin, perfect money, Payeer, dogecoin, and Skrill account.

If you’re having your cryptocurrencies on any exchange like Binance, or Yobit exchange. Must check the withdrawal tac before depositing them into cashmaal. Because if you will withdraw dogecoin and deposit it in Cashmaal, there are chances that your exchange will charge you up to 100 doge coins. That is a huge amount you will going to spend on your taxes.

Tron and Ripple charge the least withdrawal tax, so before going to withdraw, I will recommend converting your cryptocurrency assets into Tron coins and sending your Tron coins into your cashmaal account from there you will easily be able to withdraw your assets into your bank account, JazzCash account, or Easypaisa account in Pakistan.

Or if you have your assets in a blockchain account, then you will bear minimum tax charges and you can easily transfer them into your Cashmaal account to withdraw your assets into your local bank account or mobile banking account.

It is recommended to use a normal transaction in Cashmaal, which will only charge you a 0.6% withholding tax.

The second method to withdraw cryptocurrencies in Pakistan

The second way to withdraw cryptocurrencies in Pakistan involves a crypto exchange. Here I would recommend or rather suggest Binance Exchange that you can use to withdraw and deposit cryptocurrencies in Pakistan. This exchange has the feature of a P2P wallet (Peer to peer). That means users have an access to use peer-to-peer transactions of PKR to crypto and from crypto to PKR.

Binance Official Website

For instance, I wanted bitcoins or a stable coin for RS.1000, I will go into a P2P wallet in the Binance app or web portal. there I will choose to ‘buy’ option and I will try to purchase from a person who has placed a reasonable bid and has at least more than 95% or more successful transactions in their account. That will also keep us safe from scammers.

Usually, P2P orders have a dollar rate of PKR more than the market rate. That is in both cases, selling and buying cryptocurrencies in Pakistan. This is because of the demand and supply and market trends.

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So, you have both choices. Rest it is recommended to do your own research #DYOR and adopt the best possible way to deposit and withdraw cryptocurrencies in Pakistan. Remember, things are changing rapidly, and if you find any other way, must inform the audience in the comment section.

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