No Legal Status of Bitcoins in Pakistan, User Can Lost Investment
At this time the price of bit coin is very high. Facing strict rules and regulation, thieves and online hackers, the bit coin is surviving, but also its price is increasing day by day. At this time JUNE 2017 the price of bit coin is 2926$ dollar. Due to which in a few weeks the price of bit coin increases up to hundred dollars. China, India and Russia is discussing about to give legal status for using Bit coin in their countries. Due to this news the price of bit can increase. If bit coin gets the legal status in these countries, so the price of bit can increase, but if it is not possible then bit coin will be facing a huge loss.
Bit coin faces a loss in market shares in these few months. A few months earlier have a monopoly on cryptocurrency. Although hundreds of cryptocurrency exist, but only few have whose marketing rate is more one million dollars. But now other than bit coin also the Ethereum, light coin and ripple invest in large scale. Due to which there prices rise. Only in five months the Ethereum price increases from 12$ dollar to 300$ dollars. On the other hand ethereum is in the second rank with a market rate of 32 million dollars.
Status of Bitcoins in Pakistan:
Many misunderstanding spreads about Bit coins in Pakistan and due to these misunderstandings people buy Bit coins and ethereum. People get advantages who buy bit coins and ethereum in low price and now they sold these in high prices. Estate Band Of Pakistan and every other Pakistan commercial Bank warns about the Bit coins that it’s not legal and investment in Bit coins takes a severe loss.