Crypto Ban Shakes Pakistani Investors: Transitioning to the Stock Market and Seeking Alternatives
The recent week has not been kind to Pakistanis, who found out of a crypto ban within the country, which is very concerning. It is a harsh word for cryptocurrency users who hear any negative news concerning cryptocurrencies. When I hear such news or see the price of HIVE falling, it makes me very unhappy.
A BLOW TO INVESTORS AND THE RISE OF STOCK MARKET MIGRATION
Last week, the Minister of Finance and Revenue declared the ban on cryptocurrency and urged that Pakistani investors must withdraw their funds from various exchanges as soon as possible. Otherwise, they risk losing their investment or experiencing a sudden shutdown of exchanges, for which the government will not be held liable.
When I read the statement, it shocked me, and it changed my mood and kept me to think about my holding for a while. This is like to a bomb being blew up on crypto users, which is quite concerning. I was considering learning crypto trading as well as expanding my #hive account through more investment. But after hearing the awful news, I was quite disappointed.
Many of my friends are asking me about the next approach and what to do with their cryptocurrency holdings. It is my response to them that while they can close exchanges, they cannot ban cryptocurrency. Simply transfer your valuables to cold wallets and await the next announcement. Because such rumours about a crypto ban was heard in 2021, but nothing was done.
Many Crypto investors are heading over to the stock market and want to continue trading there. It is obvious that no crypto user is going to risk their investment by remaining in any exchange till the situation becomes clearer. In addition, investors or traders desire to make transactions in order to receive a monthly income.
One of the reasons for the crypto ban is that they want their citizens to invest in the stock market. They want to see high stock volume, and the market has historically dropped. In other words, they want to see an upsurge in the stock market because share prices are extremely low and the market index has dropped from 60,000 to 40,000 which is worrying for the government.
ADVISING FRIENDS TO JOIN THE HIVE DECENTRALIZED PLATFORM
As a result, many crypto investors have made the move to the stock market, and many more are considering doing so. While many of them are considering protecting their crypto holdings. In any case, if I talk about myself, I am not moving to the stock market. There is no appeal in the stock market because big companies abuse on small investors, which I hate.
However, because to the high volume of the crypto market, it will not be controlled. I recommended my friends and other crypto holders to simply purchase hive coin and transfer their holdings to the hive platform. They are unable to access this site because it is decentralised and easily accessible via VPN.
Some of my friends are willing to do this, while others are day traders who will dislike the posting and slow earning. The current situation in Pakistan is quite unclear for crypto users, who are waiting for the finance minister's next remark in order to make an immediate choice.
What are the reasons for the Pakistani government's desire to outlaw cryptocurrency? I wrote this post a few days ago, and you can read it HERE.
This is an attempt on my side to inform you about the current condition of Pakistani crypto users and their transition to the stock market. I hope you find this content to be instructive and interesting. If you like the post, please leave feedback in the comments section so that the next one will be even better. Thank you for sticking with me until the end.
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REMEMBER: We should prepare for the unexpected and hope for the best. Life may not be easy, but you must do your best and leave the rest to God.
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The fight against crypto is gaining momentum as governments aim to eliminate any alternative to their failing fiat systems. Fortunately, crypto is a global phenomenon, and your holdings should not lose value. However, it can restrict your access to cash flow. I hope everything works out for you.
I agree with you; a failed government will always try to hide its failing system by banning cryptocurrency. This is ridiculous. They can restrict exchanges but not cryptocurrency because China, with its advanced technology, cannot outlaw cryptocurrency.
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It's really crazy. The want to remove liquidity out of crypto and bring it to the stock market. Crypto is definitely are more attractive investment than the stock market. I think the best option is to wait it out and see how things turn out while planning your next moves.
Yes, there are plans to withdraw large sums of money from the cryptocurrency market and encourage investors to invest in the stock market. However, traders and investors have realised that the crypto market is the only one with the ability to generate significant profit and income.
That's the bottom line. They will find it hard to push investors and traders to the stock market because there is nothing there to be amazed by.
This time will pass. The eyes of many government have not just been open to the gains in crypto and blockchain. Nigeria has gone through this phase, and we survived. Exchange like Binance managed the situation for Nigerians and no trader moved their money.
If you are on Binance you are very much safe because Binance has its way of dealing with stuffs like this. You can simply create a binance account if you have none.
I no longer accept their statements; they also stated a crypto ban in 2018 but were unable to implement it. I'm on Binance, and luckily, the majority of my assets are in the hive ecosystem in the form of HIVE power.
That's wonderful news for me because the Hive platform is significantly safer for asset protection.
Alright. Very good
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