Summary
Pakistan maintains a complex relationship with cryptocurrency trading. While digital assets aren’t illegal, the State Bank of Pakistan (SBP) has implemented restrictions on cryptocurrency transactions. The Pakistani Rupee (PKR) is supported by several international crypto exchanges, with bank transfers and credit cards being the primary payment methods. For traders seeking the best crypto exchanges in Pakistan, these platforms offer reliable services with full regulatory compliance:
Best Crypto Exchanges in Pakistan
Pakistani traders require crypto exchanges that support local payment methods and provide reliable PKR conversion rates. The following exchanges offer comprehensive services for Pakistani users, including bank transfers, credit card payments, and P2P trading options. Security, liquidity, and compliance with local regulations are critical factors in our selection criteria.
1. Binance
Users:
200m
Free Demo:
Mobile App:
Bonus:
$100
Cryptos:
400+
Leverage:
125x
Spot Fees:
0.1%
Futures Fees:
0.02%/0.05%
Pros
- Most comprehensive crypto exchange
- Most advanced features and products
- 24/7 customer support
- 400+ cryptocurrencies
- Reputable with over 200 million users
- Best liquidity
Cons
- Not beginner friendly
- Restricted in many regions due to regulations
- EU traders must use BNFCR for futures trading
Overview
Reaching over 200 million registered users in 2024, Binance is by far the largest crypto exchange in the world. The platform is incredibly comprehensive, offering crypto traders all the tools they need to make a profit in the crypto market.
With over 400 cryptocurrencies to trade, leverage of up to 125x, directly integrated charts from TradingView with tons of technical analysis tools, and many more features, Binance has secured its spot as one of the best crypto exchanges.
Binance offers a wide variety of products, including spot, margin, futures, and options trading, staking, lending, P2P, automated bot trading, copy trading, and even an NFT marketplace. It is safe to say that crypto geeks will find everything they are looking for on Binance.
The trading fees on Binance are very affordable. Binance charges 0.1% trading fees on the spot market (makers and takers alike), which is the industry standard. Where Binance excels is the futures market with fees of only 0.02% for makers and 0.05% for takers.
2. OKX
Users:
50m
Free Demo:
Mobile App:
Bonus:
$10
Cryptos:
350+
Leverage:
100x
Spot Fees:
0.14%/0.1%
Futures Fees:
0.01%/0.06%
Pros
- Highly efficient trading platform
- 350+ assets
- Free demo trading
- Fiat supported
- 24/7 customer support
Cons
- Not available in the US
- Not beginner-friendly
- Limitations and restrictions in Europe
OXK Overview
OKX is the third largest crypto exchange sorted by daily derivatives volume. This is no surprise since OKX’s focus lies in offering a high-efficiency leverage trading experience. While the UI is not necessarily beginner-friendly, it is one of the fastest and most reliable platforms we have come across.
Over 300 coins are supported on OKXs spot market while 250 contracts are available for futures trading with up to 100x leverage. What makes OKX stand out is its extensive liquidity which are without a doubt at the top of the game.
With low futures fees starting at 0.02% maker and 0.05% taker, OKX ensures a cost efficient derivatives trading environment. Spot trading fees however are on the more expensive side starting at 0.14% for makers and 0.23% for takers.
You can easily deposit funds using your credit/debit card. Additionally, you can deposit and withdraw fiat using your personal bank account, making OKX a reliable platform for on- and off-ramp funds.
3. MEXC
Users:
15m
Free Demo:
Mobile App:
Bonus
$20,000
Cryptos:
2400+
Leverage:
200x
Spot Fees:
0.02%
Futures Fees:
0%/0.02%
Pros
- Lowest Trading Fees
- 2000+ supported crypto assets
- 200x leverage and deep liquidity
- 24/7 customer support
- Best for altcoin and leverage trading
Cons
- Not available in the US
- Newly launched coins pose high risk
- May request KYC in the future
Overview
MEXC is known as the crypto exchange with the lowest fees. What makes MEXC stand out is its 0% maker fee offer, meaning you can trade without any fees. However, the spot and futures taker fees start at 0.02%. No crypto exchange can compete with the MEXC fee structure.
If you are a day trader seeking high leverage, MEXC may be one of your best options. With 200x leverage over 400 futures contracts and by far the lowest fees, MEXC is truly a day trading heaven.
Even if you are not interested in leverage trading, MEXC has you covered with over 2000 supported cryptocurrencies on the spot market. While MEXC offers tons of new altcoins, we recommend being cautious as the legitimacy of newly listed projects may be questionable.
All in all, MEXC is arguably the best option for high-frequency traders seeking low fees to get the best value for money.
4. Bybit
Users:
40m
Free Demo:
Mobile App:
Bonus
$30,000
Cryptos:
600+
Leverage:
100x
Spot Fees:
0.1%
Futures Fees:
0.02%/0.055%
Pros
- Low fees
- 600+ supported crypto assets
- 100x leverage and deep liquidity
- Advanced order types and additional features
- Great 24/7 customer support
- Automated copy trading
Cons
- Regulatory uncertainty in Europe and USA
- May be confusing for beginners
- Cryptocurrency investments carry high risks
Overview
Bybit stands out as one of the most advanced crypto exchanges with deep liquidity and low fees. Bybit users can trade Spot, Futures, Options, NFTs, and even Inscriptions. Additionally, Bybit offers copy trading and bot trading to automate your income streams. Bybit copy trading is one of the best in the crypto industry.
Where Bybit excels is its derivatives platform with 320+ perpetual futures contracts and up to 100x leverage. With advanced order types such as TWAP or Iceberg orders, Bybit caters to experienced traders seeking the best options.
On the spot market, Bybit supports over 500 cryptos and up to 10x margin, making Bybit a versatile crypto exchange.
With low fees of 0.1% maker and 0.1% taker for spot trading and 0.02% maker and 0.055% taker for futures trading, Bybit has highly competitive fees. To top it all off, Bybit offers fee discounts based on your 30-day trading volume. The more you trade, the more you save.
5. KuCoin
Users:
30m
Free Demo:
Mobile App:
Bonus
$10,500
Cryptos:
800+
Leverage:
125x
Spot Fees:
0.1%
Futures Fees:
0.02%/0.06%
Pros
- Beginner friendly
- 800+ supported crypto assets
- 125x leverage and deep liquidity
- 20+ fiat currencies
- Great 24/7 customer support
Cons
- Lacks advanced features
- Not the best liquidity
- Regulatory issues in the US
- Variable spot fees
Overview
Kucoin focuses on offering the best spot trading experience. With over 800 supported cryptos on the spot market, Kucoin is one of the most versatile crypto exchanges when it comes to supported assets. You can trade popular cryptos such as Bitcoin or Ethereum but also less-known cryptos and even meme coins. If you are on the hunt for new and shiny coins that are not popular yet, Kucoin might be your best shop.
Spot fees on Kucoin are relatively average, ranging from 0.1% to 0.32% based on the liquidity of the asset. Futures trading on Kucoin starts at a maker fee of 0.02% and a taker fee of 0.06%.
Kucoin has integrated and ready-to-use crypto grid trading bots to automate your income. You can set up grid bots based on several parameters to trade for you 24/7.
Is Crypto Legal and Regulated in Pakistan?
Cryptocurrency operates in a regulatory gray area in Pakistan. The State Bank of Pakistan (SBP) issued a circular in 2018 prohibiting banks from processing cryptocurrency transactions, citing risks to financial stability and concerns about illicit activities. However, the Securities and Exchange Commission of Pakistan (SECP) released a position paper in 2020 proposing regulations for digital assets, suggesting a shift toward formal recognition.
The Federal Board of Revenue (FBR) has started monitoring cryptocurrency trading activities and requires traders to declare their crypto holdings. In October 2021, the Sindh High Court directed government agencies to develop regulatory frameworks for cryptocurrency operations. The Federal Investigation Agency (FIA) has established a dedicated cryptocurrency monitoring unit to prevent financial crimes while working on standardized regulatory protocols.
Pakistan’s Financial Action Task Force (FATF) compliance measures have further influenced the regulatory approach to digital assets, with new guidelines expected to align with international standards for cryptocurrency oversight.
Is Crypto Taxable in Pakistan?
The Federal Board of Revenue classifies cryptocurrency gains as taxable income. Profits from cryptocurrency trading are subject to capital gains tax, with rates varying between 12.5% and 15% depending on the holding period. Mining income is taxed as business income at regular income tax rates ranging from 5% to 35%, as specified in the Income Tax Rules.
The tax authority requires declaration of cryptocurrency assets in annual tax returns under the Foreign Assets Declaration scheme. Failure to declare crypto holdings can result in penalties up to 200% of the tax amount due and potential prosecution under the Anti-Money Laundering Act.
Recent guidelines from the SECP’s Digital Assets framework have introduced additional reporting requirements for institutional crypto traders and service providers.
Disclaimer:
Tax laws are subject to change, and individual circumstances may vary. It is strongly advised to consult with a qualified tax professional or financial advisor for personalized guidance on cryptocurrency taxation in Pakistan.
How to Buy Crypto in Pakistan
Binance provides the most reliable method for Pakistani users to purchase cryptocurrencies. The platform offers multiple payment options and maintains competitive PKR conversion rates.
- Choose a cryptocurrency exchange that accepts PKR payments and check their KYC requirements.
- Complete the registration process and verify your identity by providing the necessary documents.
- Fund your account with PKR through bank transfers, credit cards, or by using P2P trading methods.
- Select from well-known cryptocurrencies such as Bitcoin, Ethereum, or USDT.
- Carry out your trade at the prevailing market price.
- Move your assets to a secure wallet for safe long-term storage.
Best Crypto Wallets in Pakistan
Pakistani crypto enthusiasts can choose from a variety of wallet options for the secure storage of their assets. Ledger and Trezor hardware wallets offer top-notch security for long-term investments. For everyday transactions, Trust Wallet and MetaMask provide easy-to-use mobile and browser-based options.
Exodus wallet features a user-friendly design along with support for multiple currencies, making it ideal for Pakistani traders overseeing varied portfolios. These wallets allow for direct integration with leading exchanges and offer essential security functionalities, including backup options and multi-signature features.
Bottom Line
For Pakistani traders seeking the best crypto exchanges in Pakistan, Binance stands out with its extensive PKR trading pairs, reliable P2P marketplace, and advanced security protocols including regular CertiK audits. The platform’s daily trading volume exceeds $5 billion with a 99.9% uptime record. OKX provides an excellent alternative with advanced trading features, competitive fees starting at 0.08%, and dedicated Pakistani market makers ensuring optimal PKR liquidity. Both platforms offer multilingual support, including Urdu, and maintain comprehensive insurance coverage for user funds.
