It is estimated that over 16 million people, 6.4% of Pakistan’s total population, currently own cryptocurrency or are involved in either trading crypto assets.

The interest in Bitcoin has increased in Pakistan with a rise in “bitcoin” and “cryptocurrency” online searches following the government’s discussion of cryptocurrency regulation.

With low banking penetration rates and “very limited POS terminals in the country”, the Bitcoin market in Pakistan “is still very new,” but it is fast growing.

Many Pakistanis think crypto is the solution to their financial woes. The country is facing high inflation, heavy debts, and low foreign reserves. Industry experts have given Pakistan’s plan to ban crypto a thumbs down as they believe that banning crypto is no solution and Pakistan is likely to make a big mistake.

Crypto Demographics of Pakistan

Karachi takes the lead with a massive 35% userbase followed by Lahore and Islamabad having 20% and 15% userbase respectively. People between ages 25-34 are most actively involved in cryptocurrency while the gender demographics have a huge disparity with only 5% falling under the female gender.