Bitcoin is digital money that works independently of any centralized power or the authority of banks and other financial institutions. Rather it depends on peer-to-peer technology and encryption. A public blockchain registers every bitcoin financial transaction and backups are stored on servers throughout the globe.
Is it legal in Pakistan to use Bitcoin?
The use of bitcoin and other cryptocurrencies is not explicitly prohibited or controlled in Pakistan. According to Pakistan’s State Bank on January 16, 2021, it has no authority to allow any people or organizations to buy or trade cryptocurrencies.