“I used to walk an hour to work every day because I couldn’t afford any form of transportation,” stated Ashraf*, a part-time cryptocurrency trader who makes about minimum wage. Ashraf talks about his investments in bitcoin, which have allowed him to purchase a brand-new Kia Sportage worth Rs9 million ($32,000). He also boasts about his new three-story home and the cutting-edge solar system he installed. With a $1 wallet, he began investing when Bitcoin was only worth $700.
The tale of Ashraf is only one illustration of the large number of Pakistanis who are turning to cryptocurrencies in order to protect their investment in a risky market. Since cryptocurrency trading is illegal in Pakistan, peer-to-peer exchanges see the majority of activity.
