Crypto / March 3, 2025 / by Syed Aun

Do You Really Need Crypto?

Remember when people used to laugh at the idea of digital money?
Fast forward a few years, and now everyone and their chacha is talking about crypto like it’s the golden ticket to wealth.
But do you actually need it? Is crypto a smart investment or just another overhyped trend that will leave you broke?

1. What is Crypto, Really?

At its core, cryptocurrency is digital money that isn’t controlled by any bank or government.
Instead, it runs on something called blockchain, which is just a fancy way of saying a super-secure, decentralized ledger that records transactions.

Bitcoin, Ethereum, and Dogecoin are some of the most popular ones.
But with thousands of cryptos out there, it’s like the Wild West—some are gold mines, others are straight-up scams.

2. Why Are People Obsessed With Crypto?

There are three main reasons why people keep hyping up crypto:

It Can Make You Rich (Or Broke): Some early investors turned a few thousand rupees into millions. But for every success story, there are countless people who lost everything because of bad decisions or scams.
No Government Control: Unlike your bank account, no one can freeze your crypto (unless you store it on a shady exchange that suddenly disappears overnight).
Inflation Hedge: People see crypto as a way to protect their money from inflation, especially in countries where the local currency is losing value fast. And let’s be honest PKR isn’t exactly winning awards for stability.

3. The Problems No One Talks About

Crypto is Volatile as Hell

One day, Bitcoin is worth 10 million PKR, the next day, it drops to 5 million.
Imagine putting your entire savings into crypto only to wake up and find half of it gone.
That’s the reality of crypto investing.

Regulation Issues (Especially in Pakistan)

Crypto is in a grey area in Pakistan.
The State Bank doesn’t fully support it, banks don’t allow direct transactions, and regulations are unclear. This means:

You have to rely on third-party platforms (P2P, Binance, etc.) to buy and sell crypto.
There’s a risk of government bans or heavy taxes in the future.

Scams Are Everywhere

Ponzi schemes, fake investment platforms, and “gurus” promising guaranteed returns—crypto is a scammer’s paradise. If you’re not careful, you could lose everything to fraudsters.

4. Should You Invest in Crypto?

Ask yourself these three questions before jumping in:

✅ Can You Afford to Lose the Money? If losing that money would ruin your financial stability, don’t invest. Crypto should never be your entire portfolio.

✅ Do You Understand the Risks? If you don’t know the difference between Bitcoin and Shitcoin, you’re gambling, not investing.

✅ Are You Thinking Long-Term? If you expect to double your money in a week, you’re setting yourself up for disappointment. Crypto is high-risk, high-reward, and patience is key.

5. Smart Crypto Strategy for Pakistanis

If you still want to invest in crypto, here’s how to do it wisely:

Only invest money you can afford to lose. Don’t touch your emergency savings.
Stick to major coins like Bitcoin & Ethereum. Avoid random coins that promise “guaranteed” returns.
Use secure platforms. Binance is popular in Pakistan, but always enable two-factor authentication (2FA) to keep your funds safe.
Withdraw profits when needed. Don’t just hold forever—cash out some profits along the way.