Ethereum, the world’s second largest cryptocurrency by market capitalization, can now be bought and sold in Pakistan. The news was announced by local crypto exchange Urdubit, which is now the first and only platform in the country where ETH/PKR trading is available.
The development is significant because it gives Pakistani investors a much-needed opportunity to diversify their portfolios and gain exposure to a major altcoin. It also comes at a time when the Pakistani government is taking steps to regulate the country’s nascent cryptocurrency industry.
The addition of ETH trading on Urdubit is part of the exchange’s larger goal to “promote bitcoin and cryptocurrency adoption in Pakistan.” In addition to ETH/PKR, Urdubit offers BTC/PKR trading on its platform.
NOTE: WARNING: Buying Ethereum in Pakistan may not be legal or advised. Cryptocurrency trading regulations in the country are still not well established, and it is important to understand the risks associated with investing in cryptocurrency before proceeding. It is also possible that buying and selling Ethereum could be subject to taxes and fees, so it is important to research these further before making any purchases.
To buy Ethereum (ETH) on Urdubit, Pakistani investors first need to create an account and deposit Pakistani Rupees (PKR) into their wallets. Once they have done so, they can place buy or sell orders for ETH/PKR pairs.
The exchange charges a 0.4% trading fee on all trades.
Urdubit is not the only way to buy ETH in Pakistan, but it is currently the only option for those looking to trade ETH/PKR pairs. Investors can also use international exchanges like Binance or Huobi to buy ETH with other cryptocurrencies like Bitcoin (BTC) or Tether (USDT).
The ability to buy Ethereum in Pakistan is a positive development for the country’s cryptocurrency industry, which is still in its early stages of development. With more exchanges offering ETH trading pairs, Pakistani investors will have more opportunities to diversify their portfolios and gain exposure to major altcoins.
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