Bitcoin can promote gaining profit both for large experienced traders and new market`s participants with a small start-up capital. BTC is especially demanded in countries with poor and developing economy, where citizens are not able to earn much with the help of traditional ways. By the way, Bitcoin doubling — is the most profitable way of cryptocurrency investing. Let us consider, if Bitcoin doubler is legit in Pakistan.
Bitcoin & Law in Pakistan
Unfortunately, Bitcoin, as well as all other cryptocurrencies, is illegal in Pakistan. The State Bank of Pakistan (SBP) banned all digital currencies, including Bitcoin, altcoins and ICO tokens, in April 2018. The SBP ordered all financial and monetary service providers, including banks and payment processors, to terminate any transactions relating to cryptocurrency. Any cryptocurrency transaction will be considered as suspicious and reported to the country’s Financial Monitoring Unit.
On the other hand, there is no law, clearly banning virtual currency usage by individuals in the country. Anyway, you should act very cautiously, if you want to buy or sell Bitcoin and altcoins; the perfect decision would be to consult with a lawyer familiar with such matters.
Nevertheless, Bitcoin trading continues in Pakistan. Traders work via decentralized exchanges (DEX) in P2P manner, the majority of such trading is conducted via cash exchanges.
Despite the strict ban for all forms of digital assets, Bitcoin`s life is not dead in Pakistan. If you are not a bank or other financial institution, you still can purchase and invest in BTC. Locating in Pakistan, use LocalBitcoins site to trade and invest in the first cryptocurrency.
Can I Legally Double my Bitcoin in Pakistan?
As we have mentioned above, Bitcoin is illegal in Pakistan. So, we cannot claim that you can invest and double your BTC without difficulties. On the other hand, it is not strictly prohibited for common citizens to use virtual currencies. Double your bitcoins carefully and use cash exchanges to avoid banning your banking account.