Pakistan bitcoin trading volume rose, bitcoin or mainstream transaction!
Pakistan is now the world’s seventh most populous country has approximately 202 million inhabitants. At present, the country has many characteristics, can be accelerated by bitcoin. According to previous reports, the parliament of Pakistan intends to waste bills, Pakistan bitcoin trading volume rose 400%. Bitcoin.com recently with Pakistan’s first and largest bitcoin trading platform Urdubit co-founder DanyalManzar are discussed.
The huge free market, but the lack of payment solutions
Although you cannot use the PayPal, but Pakistan is still in the forefront of national free occupation outsourcing workers. Manzar told Bitcoin.com that, in fact, in the “Pakistan free occupation website ranking third”. According to the “New York Times” reported that an estimated 10 thousand IT graduates enter the job market each year in Pakistan.
Manzar described the remittance in Pakistan is also a very big market “”. He said: “the remittance industry annual income of about $20 billion. In view of the shortage of Pakistan jobs, so the main remittances are from the UAE and Saudi Arabia, followed by Western countries.” Pakistan bitcoin trading volume is also increasing.
Despite the lack of jobs, but in recent years has been the development of modern Pakistan. Change the way of life, rapid technological innovation, increase the number of broadband access will promote the increase of free Pakistan occupation.
However, Manzar said: “the payment industry has been a problem.” He added:
“In view of the Pakistan employment market will remain limited, we see some free occupation to bitcoin, because there is no suitable PayPal and payment processors available.” Pakistan bitcoin trading volume is also increasing.
The rapid development of broadband consumption
The use of mobile broadband in Pakistan is developing rapidly. The World Bank described Pakistan as Asia is leading the digital finance Road, the country’s 6% adults have mobile accounts, compared with the average level of less than 2.6% in South asia. Pakistan bitcoin trading volume is also increasing.
According to the Pakistan Telecommunications Authority (PTA) said that as of 2016 June, the country’s 3G/4G users reached 29 million 530 thousand people, compared with just 14 million 600 thousand in July, 2015. Total broadband users increased from 16 million 880 thousand to 32 million 410 thousand, an increase of 92%.
Pakistan bitcoin trading volume is also increasing
The world bank also pointed out that currently about 100 million of adults in Pakistan did not have a bank account, unable to obtain formal financial services. Only 13% of adults have a formal bank account, 27 million 500 thousand of adults said financial institutions because the distance is too far, it prevents them to open a bank account.
No bank service with huge population, no PayPal is available, a large free trade occupation, important remittance destination, coupled with so many people to order the high-speed mobile account, Pakistan bit may have a larger market.
Pakistan bitcoin Market
Manzar said, admittedly, Pakistan bitcoin industry is still a new industry, but the development is very rapid. He pointed out that the country’s banking penetration is very low, and the POS terminal is also very limited.
“Bitcoin offers a cross-border payment system and local payment solutions, and lower costs.”
Manzar Urdubit is a blinktrade engine using real-time bitcoin exchange. According to Coinhills, Urdubit trading volume in the past few weeks has been rising steadily, and the stock exchange of Pakistan bitcoin trading volume is the highest, the daily trading volume is two times of Localbitcoin. He said:
“Our market share of the market accounted for 1/3.”
If the Manzar says is true, then the Pakistan bitcoin daily trading volume of about 40BTC, among the world’s bitcoin trading market twenty-seventh.
However, he also admitted that there is no too many shops accept bitcoin. On the Internet, many websites are better off, the country has begun to accept bitcoin as payment, because payment faster and no refund. Manzar pointed out
“We believe that the Pakistan bitcoin trading will become a trend, Pakistan has become a major bitcoin after India’s use of the country is just a matter of time.”
At the same time, Manzar also said that the government of Pakistan “bitcoin still does not show any position”. Urdubit has been awarded the National Bank of Pakistan (the central bank) approval. Manzar said:
“The Central Bank of Pakistan, Pakistan think bitcoin is a commodity, not a currency.”
If you want to know more bitcoin related, with “money said” WeChat (micro signal: bishishuo), note: BtcTrade. Before entering the official exchange group.