Raast is Pakistan's real-time gross settlement (RTGS) system for online interbank funds transfers. The system was launched by the State Bank of Pakistan (SBP) in 2020 to modernize and digitize the country's payment infrastructure. The system uses the latest technologies, including blockchain and biometric authentication, to provide a fast, secure, and reliable way for banks and other financial institutions to transfer funds.
One of the main benefits of Raast is its speed and efficiency. Transactions processed through Raast are settled in real-time, which means that funds are transferred almost instantly between banks. This can be particularly useful for businesses that need to make urgent or large payments. Additionally, Raast is interoperable with other domestic and international payment systems, which allows for seamless cross-border transactions. Also, the usage of blockchain and biometric authentication in the system provide an extra layer of security which makes it more secure than traditional banking methods.
Raast is a major step towards digitizing Pakistan's banking and financial systems, in line with the government's goal of promoting financial inclusion and reducing dependency on cash transactions. It is designed to improve the overall banking experience for customers and enable businesses to operate more efficiently.
Raast is a popular way to acquire Bitcoin on OKX P2P Trading. OKX is a well-known and trustworthy platform that prioritizes the protection of customers' funds. The platform has included cutting-edge security precautions to protect personal and financial information, as well as additional features to give traders peace of mind. For instance, users can utilize the Crypto Converter Calculator to see real-time exchange rates for converting fiat money to Bitcoin.
Buy Bitcoin Via Raast on OKX P2P Trading Today
How to buy Bitcoin with Raast
To purchase Bitcoin with Raast on OKX P2P Trading, pick Raast as your preferred payment option and follow the on-screen instructions to complete the transaction safely and securely. These are the steps:
Open an OKX account
Click the Sign Up button located on the OKX website.
Register with either your email address or phone number.
Enter the 6-digit code that was provided to the option you choose.
Note: Your verification code will expire in 30 minutes.
To complete account registration, create a secure password.
Verify your OKX account
Hover over the profile icon on the header menu and select "Verification."
Enter the relevant fields, including your nationality, legal first, middle, and last name, ID type, and ID document number, to complete the Level 1 identity verification.
Take a photo of the front and back of your ID document and a selfie to complete the Level 2 identity verification.
Important: All users must verify their identity before buying Bitcoin and other popular digital assets. There are two levels of verification, and users must pass the Level 2 identity verification to buy and sell crypto on the OKX platform.
Search for the best BTC deals
Ensure the Buy option is selected once in the OKX P2P Trading marketplace.
Select Raast, BTC, and your desired fiat type to generate all offered deals.
Note: You can further filter the results by indicating your preferred fiat amount.
Select your best offer to start the deal.
In the pop-up box, enter the appropriate amount of BTC and your selected payment method, making sure to select "Raast" in the "payment method" field.
Click Buy BTC to finish your purchase.
Note: Your acquired BTC tokens will be put into your Funding Account as soon as the vendor confirms payment.
1. Is Raast only for businesses, or can it be used by individuals too?
Raast is primarily designed for use by businesses and financial institutions, but individuals can also use it to make interbank fund transfers. Individuals can use Raast through their bank accounts by linking their accounts to the Raast system and making transactions through their bank's online banking portal or mobile application.
2. How to use Raast?
To use Raast, you need to have a bank account with a bank that is connected to the Raast system. Once you have completed KYC and linked your bank account to the Raast system, you can initiate fund transfers to other Raast-enabled bank accounts, either within Pakistan or internationally.
3. How secure is Raast?
Raast uses the latest technologies, including blockchain and biometric authentication, to provide a fast, secure, and reliable way for banks and other financial institutions to transfer funds. It is designed to improve the overall banking experience for customers and enable businesses to operate more efficiently.
4. Is there a limit to the amount of Bitcoin I may buy using Raast on OKX P2P Trading?
OKX P2P does not set a cap on the amount of Bitcoin you may buy. That being said, the quantity of Bitcoin you buy on the platform may be limited depending on various factors, including the payment method you use and the sellers' preferences. Before initiating a deal on OKX P2P Trading, double-check the listing details and any relevant transfer limitations to ensure the transaction may be completed successfully.
5. What is Bitcoin currently worth in Pakistani Rupees (PKR)?
Visit a cryptocurrency exchange or price tracker to find out how much Bitcoin is worth in PKR. The OKX Crypto Converter Calculator is a popular tool for determining current Bitcoin to PKR exchange rates.