Pakistanis are buying bitcoins like crazy but mostly the wrong way
Bit coin is going crazy among Pakistani community. People started to invest in BTC regardless of the news that state departments deny its recognition to bitcoins. Moreover, the top intelligence department of the Federal Board of Revenue (FBR) Pakistan is investigating cases where investors trade digital currencies probably to evade taxes or launder money.
Moreover, younger people who understand the technology spreading the word and now many online trading platforms are getting popular in Pakistan such as https://urdubit.com/
However, many people are getting involved in Bitcoin based Ponzi schemes such as Tradecoin.club. I feel like its dangerous for the future of Bitcoin in Pakistan because it might damage the reputation of crypto currencies in the country. If any of these Ponzi schemes collapse and became the news, it will seriously damage the reputation and trust in blockchain technology.
So if you are a Pakistani and wanna invest in Bitcoin. Just keep it in your wallet do not get involved in Ponzi schemes because the crypto are decentralized currencies and if you invest in Ponzi schemes you are doing the total opposite of what crypto really offers.
Great. Thanks for sharing. I'm starting to follow you.
That's so interesting. The same thing is happening in India as well, and I am really interested to see where it goes in the future with this. Thanks for sharing. :)
Nicely written. Do follow my posts as well. Thanks.
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