I need to send money to Pakistan. Can I with Bitcoin? - page 2.

pawel7777

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Quote from: commandrix on December 24, 2014, 10:18:13 AM

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

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Quote from: sumantso on December 22, 2014, 11:42:01 AM

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

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Quote from: DingoStar on December 24, 2014, 07:54:43 AM

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.

DingoStar

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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.

Smack That Ace

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Free Free Palestine

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.

Smack That Ace

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Free Free Palestine

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

sumantso

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Quote from: bornil267645 on December 22, 2014, 09:58:20 PM

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 Grin

Options will be there, it will take time. If there is enough demand infrastructure will pop up.

bornil267645

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AltoCenter.com

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

Possum577

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Loose lips sink sigs!

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.

UnlikelyStory

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

Do Not Laugh At My Socks

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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.

wadili89

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Quote from: ChuckBuck on December 22, 2014, 01:00:36 PM

Nobody likes reading my posts? Cheesy

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.

Quote from: DirtyBytes on December 22, 2014, 01:01:19 PM

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.

DirtyBytes

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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.

ChuckBuck

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better everyday ♥

Quote from: wadili89 on December 22, 2014, 12:54:32 PM

Quote from: Gianluca95 on December 22, 2014, 12:51:48 PM

Quote from: wadili89 on December 22, 2014, 12:46:42 PM

Quote from: Gianluca95 on December 22, 2014, 12:43:45 PM

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? Cheesy

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

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

sumantso

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Quote from: ChuckBuck on December 22, 2014, 12:48:57 PM

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.

wadili89

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Quote from: Gianluca95 on December 22, 2014, 12:51:48 PM

Quote from: wadili89 on December 22, 2014, 12:46:42 PM

Quote from: Gianluca95 on December 22, 2014, 12:43:45 PM

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.

Gianluca95

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Reputation first.

Quote from: wadili89 on December 22, 2014, 12:46:42 PM

Quote from: Gianluca95 on December 22, 2014, 12:43:45 PM

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

ChuckBuck

hero member

Activity: 1372

Merit: 783

better everyday ♥

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.

wadili89

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Activity: 1106

Merit: 1000

Quote from: Gianluca95 on December 22, 2014, 12:43:45 PM

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.

wadili89

legendary

Activity: 1106

Merit: 1000

Quote from: pawel7777 on December 22, 2014, 12:39:38 PM

If you're planning on doing that often, maybe they'll be able to offer you a better deal. Otherwise try localbitcoins, you can get in touch with the buyer (use the trusted ones) and negotiate the best price.

Even if its for one time, it may be possible to do a transaction in person and avoid the fees. The fees are mainly the escrow ones and necsessary to secure the transaction which is not needed for a face to face transaction. The other party also gains more in that case and may be willing to do it.

Topic: I need to send money to Pakistan. Can I with Bitcoin? - page 2. (Read 4303 times)