I need to send money to Pakistan. Can I with Bitcoin?

[wadili89]

Of course. Send private key of the interested address at your friend and then give it to your pakistan friend (I guess), your pakistan friend then will convert bitcoin in its local value

Why the necessity of sending private key? Private key shouldnt be transferred and should be kept to self as much a spossible.

The problem here is converting Bitcoin to the local value.

Make another thing. Convert bitcoin in US dollar and then change it in some local exchange in Pakistan. Is this possible? I guess yes, every country of the world has a local exchange :O

There is no local exchange in Pakistan which is the issue. They have an equivalent to localbitcoins which may be the only option in this case.

[1714704849]

1714704849

[1714704849]

1714704849

[1714704849]

1714704849

[sumantso]

You should double check with this exchange to see if it's possible to use for Pakistan:

https://www.igot.com/

They convert to the Indian Rupee, so maybe call or email them to see if it's possible for PKR.

They don't. Any such service requires proper regulatory clearances and KYC compliances, not to mention interfacing with banks.

I repeat, OP should check the relevant foreign exchange laws in his country otherwise he may land in trouble. Its not worth trying to save a percent or two and then ending up in a legal hot soup.

[ChuckBuck]

Of course. Send private key of the interested address at your friend and then give it to your pakistan friend (I guess), your pakistan friend then will convert bitcoin in its local value

Why the necessity of sending private key? Private key shouldnt be transferred and should be kept to self as much a spossible.

The problem here is converting Bitcoin to the local value.

Make another thing. Convert bitcoin in US dollar and then change it in some local exchange in Pakistan. Is this possible? I guess yes, every country of the world has a local exchange :O

There is no local exchange in Pakistan which is the issue. They have an equivalent to localbitcoins which may be the only option in this case.

Nobody likes reading my posts?   

I've posted twice about https://urdubit.com/

OP's only qualm about it is the 1.75% total trading fee.

[DirtyBytes]

You could but if your friend wants to withdraw that bitcoin into indian currency then you would need to look into what exchange he would use.

[wadili89]

Nobody likes reading my posts?   

I've posted twice about https://urdubit.com/

OP's only qualm about it is the 1.75% total trading fee.

I used to think it was localbitcoins only. Sorry if its not.

You could but if your friend wants to withdraw that bitcoin into indian currency then you would need to look into what exchange he would use.

Pakistan currency is needed, not Indian. There may be Indian currency in circulation is Pakistan but thats not what is being asked for.

[Do Not Laugh At My Socks]

Wouldn't localbitcoin be a good way of withdrawing? It's simple I don't know how much you are trying to convert but some people are willing to buy 100 Bitcoin worth on the site.

[UnlikelyStory]

Check localbitcoins for people who will exchange btc to cash in your area.

[Possum577]

You could send payment with Bitcoin and then the receiver of the funds could convert the BTC to Pakistan currency OR to USD/EUR/GBP and then convert that USD/EUR/GBP to Pakistan currency.

[bornil267645]

I don't think there are any options on that, same here in Bangladesh.

[sumantso]

I don't think there are any options on that, same here in Bangladesh.

Well, you can always swim up the river and collect INR
Options will be there, it will take time. If there is enough demand infrastructure will pop up.

[Smack That Ace]

Hey

Hope you are doing well.

Just got to see your post.

Yes its possible to send money through bitcoin to Pakistan.

I offer the service to deposit in any bank account or cash delivery as well. Our website is ready. Its being tested.
We will be offering buy and sell as well as remittance option.

If you are still interested let me know the details and we can do the transfer.

Regards

Duke

[Smack That Ace]

I just read up on the previous conversation.

There is a massive potential for growth in Pakistan.

Majority of its population is unbanked and the value of pkr is practically nothing.

There are already a few people operating in Pakistan dealing with bitcoin but they deal with all web currencies.

[DingoStar]

Found in google https://urdubit.com. Pakistan's First Bitcoin Exchange.  I can't say how much this exchange is reliable. I did not use it.

[pawel7777]

Found in google https://urdubit.com. Pakistan's First Bitcoin Exchange.  I can't say how much this exchange is reliable. I did not use it.

Urdubit has already been mentioned few times in this thread and the OP had got in contact with them, but wasn't happy with the fees.

It's a good practice to scan through the thread before posting.

[commandrix]

Remittances doesn't benefit Bitcoin. Bitcoin wants to be the mode of payment and be used as a currency. Remittances mean getting in and out of Bitcoin which is not too attractive.

I think people forget that just USING Bitcoin, even it it's just for saving money on a wire transfer, can benefit Bitcoin because it shows people that Bitcoin can be used for easy and (most importantly for a lot of people) cheap transactions. Take the first step so Bitcoin can gain a foothold in Pakistan, then worry about using it as a currency later. I think people already mentioned a couple of exchanges that might work.

[pawel7777]

I think people forget that just USING Bitcoin, even it it's just for saving money on a wire transfer, can benefit Bitcoin because it shows people that Bitcoin can be used for easy and (most importantly for a lot of people) cheap transactions. Take the first step so Bitcoin can gain a foothold in Pakistan, then worry about using it as a currency later. I think people already mentioned a couple of exchanges that might work.

There's more to that. There are a few remittance companies started recently (who use bitcoin as transfer tool), if they manage to grab a significant portion of the market - the volume of trade should noticeably increase, which will reduce the volatility and make price manipulation much harder. That's a big thing.

[commandrix]

I think people forget that just USING Bitcoin, even it it's just for saving money on a wire transfer, can benefit Bitcoin because it shows people that Bitcoin can be used for easy and (most importantly for a lot of people) cheap transactions. Take the first step so Bitcoin can gain a foothold in Pakistan, then worry about using it as a currency later. I think people already mentioned a couple of exchanges that might work.

There's more to that. There are a few remittance companies started recently (who use bitcoin as transfer tool), if they manage to grab a significant portion of the market - the volume of trade should noticeably increase, which will reduce the volatility and make price manipulation much harder. That's a big thing.

You're right; Coins.ph is one company that added this option fairly recently if you go by this article: http://thecoinfront.com/coins-ph-adds-bitcoin-remittance/ But is there any remittance option that would work for Pakistan?

[Smack That Ace]

Hello,

We have already created a service like that.
The service is setup and operational. We are in the process of fine tuning the website.
We will hopefully launch within this week.
Our goal is to take somewhat the same approach as other companies have and focus on remittance for Pakistan.

Glad there are others taking an interest in it as well.

Regards

Duke

[colinistheman]

Hello,

We have already created a service like that.
The service is setup and operational. We are in the process of fine tuning the website.
We will hopefully launch within this week.
Our goal is to take somewhat the same approach as other companies have and focus on remittance for Pakistan.

Glad there are others taking an interest in it as well.

Regards

Duke

That's good, but I wouldn't use a service that "just opened".

But keep yours going and in a year I'd check it out if it had good reviews and was still in business

[urdubit]

Of course. Send private key of the interested address at your friend and then give it to your pakistan friend (I guess), your pakistan friend then will convert bitcoin in its local value

Why the necessity of sending private key? Private key shouldnt be transferred and should be kept to self as much a spossible.

The problem here is converting Bitcoin to the local value.

Make another thing. Convert bitcoin in US dollar and then change it in some local exchange in Pakistan. Is this possible? I guess yes, every country of the world has a local exchange :O

There is no local exchange in Pakistan which is the issue. They have an equivalent to localbitcoins which may be the only option in this case.

I did get intouch with you and I think you were having problems fees as trades priced high. What you have to realize is that we are an exchange( and very new) not a remittance service. You can post your bids and when the time is right they will automatically trade. At the time of writing this post. Please take note the BID rate is 31900+ for buying per btc(So this applies to you since you want to sell), the current international rate is around USD 317(interbank rate = 100.1 = 31731.7 so even if you minus the fee it will pretty much negate the fees)

If you do have any questions feel free to email us anytime.