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:
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you will find your dashboard like this one, But it will not show you the numbers because you have yet not deposited or withdrawn any amount.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, Etherium 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 withdraw 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 to convert your cryptocurrency assets into Tron coin and send your Tron coins into your cashmaal account and 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, that will only charge you 0.6% withholding tax.
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 diposit cyptocurrencies in Pakistan. This exchange has a feature of P2P wallet (Peer to peer). That mean users have an access to use peer to peer transactions of PKR ro crypto and from crypto to PKR.
For instance, I wanted bitcoins or a stable coin for RS.1000, I will go in P2P wallet in Binance app or web portal. there I will chose to ‘buy’ option and I will try to purchase from a person who have placed a reasonable bid and have atleast more than 95% or more successful transactions in its account. That will also keep us safe from the scammers.
Usually, P2P orders have dollar rate into PKR more than the market rate. That is in both the cases i,e, selling and buying cryptocurrencies in Pakistan. This is becasue of the demand and supply and market trends.
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So, you have both the choices. Rest it is recommended to do your own research #DYOR and adapt the best possible way for deposit and withdraw cryptocurrencies in Pakistan. Remeber, things are changing rapidly, and if you find any other way, must inform audiance in comment section.
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