Cryptocurrency is a digital asset of any single individual \ Person, runs on the blockchain concept. The person holding crypto can exchange that currency for money (referred to as an “additional coin”) at will on a Multisignature computer in the proposal jurisdiction.
The term crypto means Bitcoin or another similar blockchain-based crypto-currency system, with some properties. These properties include one transaction that takes place automatically between three parties, while each party pays interest Plus Tax. Still, they make a profit out of fees paid by them through storage/transaction operations. Pioneering developers took this new technology forward using proof of stake consensus protocol; all transactions made are verified against multiple different blockchains along with shared proof of work.
Concept of this digital currency
This digital currency is not an authorized asset. It is based on decentralised technologies. It’s basically the same as bitcoin, only you don’t need to have access or control of your own wallet. If you do that and want to exchange Bitcoins for fiat currency in the future, you will have to consider using another crypto-currency instead.
A crypto-token does not require anybody else with an account to keep track either. Because they get all transactions at once, so can be easily audited by anyone who wants to see how each other performs overtime.
To trade and exchange these digital currencies, there must be an authentic platform. There are many different platforms to do so. One of the best and most popular platforms is “Stormgain”. This is a compact crypto-currency app. A digital asset to make money.
Ways to make money using stormgain
• You can mine every 4 hours and withdraw at some specific time.
• By referring some USDs.
• Trading digital currencies.
Pakistan and these digital currencies
At some points, the trading of these currencies was illegal, because of their decentralized technology. But at the current time, it is not very illegal in Pakistan. Citizens all over Pakistan have ownership of these currencies.
How many People have ownership of these currencies?
According to some resources more or less 90 lac (9 million approximately) people, which make up 4.1 % of the total Pakistan population hold the ownership of these currencies.
They are trading them using different coin markets or platforms.
Which Platforms are popular in Pakistan?
Pakistanis are using different Platforms like:
“Binance” is the biggest crypto-exchange marketplace.
How to buy these digital currencies in Pakistan?
We can buy crypto-currencies in Pakistan using ATMs, but we have no access to the money and it is very difficult for us to withdraw them in Pakistan. Because the local banks and state banks of Pakistan have banned the purchase and exchange of these currencies through their Debit or Credit cards. This all is due to the virtual nature of these currencies.
What is the cryptocurrency Price in Pakistan?
Different visual currencies have different prices in Pakistan. The top cryptocurrency in the term of its price, is Bitcoin. A Bitcoin valued ₨ 737,936,778,054 in Pakistan. Which is a very huge amount.
Future of these currencies in Pakistan.
It is expected that the future of crypto-currency in Pakistan will be largely a question mark for it and its citizens. “In all likelihood, this trend should continue as governments struggle to secure their respective tax base.” Citing figures released by GFI Bank, which tracks income from capital markets sources across the Asia Pacific, the Pakistani currency has dropped almost 70% since July 2015.
The article concludes that the crypto-currency in Pakistan is not safe; it has proven to be a force of chaos, forcing people out of their homes, because it is not an authorized currency according to the state bank of Pakistan for being a visual currency. The situation seems bleak and desperate as soon any kind will make its way into rural areas without proper infrastructure or legal recognition. The world’s longest blockchain-based currency — known as Bitcoin MXR, for short – remains heavily popular among enthusiasts around Asia despite widespread speculation about an imminent halving event on July 4th, 2017 which could decimate Bitcoins network usage worldwide.No bitcoin coins have been mined yet in Pakistan.