Are Cryptocurrencies Haram?

Are Cryptocurrencies Haram?
A cryptocurrency is a digital or virtual currency that is secured by cryptography, which makes it nearly impossible to counterfeit or double-spend. Many cryptocurrencies are decentralized networks based on blockchain technology-a distributed ledger enforced by a disparate network of computers. A defining feature of cryptocurrencies is that they are generally not issued by any central authority, rendering them theoretically immune to government interference or manipulation.
Recently Indonesia’s Council of Religious Leaders, “The Majlis Ulema Council”, deemed using cryptocurrency as both a currency and a tradable asset as haram (that is, prohibited in Islam).
I respond to the arguments they cited for why cryptocurrencies are haram and reach a different conclusion that in fact none of the arguments they cite for cryptocurrencies being prohibited in Islam have merit and that my original assessment of cryptocurrencies being a useful technology in most cases and halal is correct.
Let me know what you think in the comments!
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Disclaimer: Anything you hear in this video is an opinion. It is not to be considered personalized financial advice. Make sure you do your own due diligence before making any investment decisions.
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[@mohammedosman88]

Thank you bro, Jazak Allah khair. We have a very huge problem where relgious councils are just “yes men” for governments. It really makes Islam look strange and backward.

[@othmantassa6919]

So true man. A lot of them spread false informations actually and that is also haram, I am talking about people who says is haram 100%

[@hungryhugo7400]

yes i love that u mention this ayah in surah 42 💖

[@ajkhattak]

JazakAllah brother, really appreciate your effort.

[@Random7628]

Your arguments are solid and I can't fault them. Jazakallah khair. I pray that your channel grows. Wa alaykum salam wa rahmatullahi wa barakatuh.

[@1975personaltrainer]

Thanks for the video. It was great.

[@umarsebyala9920]

Barakallahu fikum, may Allah increase you in goodness, Brother! I honestly believe the ulama of this ummah should embrace crypto and Blockchain technology with open arms as it presents the best hope to wean the ummah of the riba fuelled modern financial system and have a more halal and collectively beneficial Financial system.

[@wiassghulam5403]

Please don't listen to those kind of people who follow their patient and make halal which is haram. There is no doubt that the crypto is haram and the profit made on it is haram money. fear Allah and know that no matter how you get your sustenance your sustenance will remain the same so place your trust in Allah and he will open doors for you from where you did not expect.

[@bouss2382]

Wiass Ghulam explain please, thank you

[@umarsebyala9920]

@Wiass Ghulam we shall wait for your reason for the blanket haram view you bring on all crypto.

[@marlonhosten4693]

Wise words ! Crypto is here to stay !

[@marlonhosten4693]

@@wiassghulam5403 All you are doing is screming Haram Haram Haram without a shred of evidence and you can't respond to my original comments.

[@12bucukfalandim]

Masallah brother. Clear points. May Allah show us the right way.

[@wiassghulam5403]

Please don't listen to those kind of people who follow their patient and make halal which is haram. There is no doubt that the crypto is haram and the profit made on it is haram money. fear Allah and know that no matter how you get your sustenance your sustenance will remain the same so place your trust in Allah and he will open doors for you from where you did not expect.

[@12bucukfalandim]

@@wiassghulam5403 show me one layer1 crypto currency that's more haram than usd and I'll accept your argument.

[@hparygzvo2434]

Yess ... everything including interest is haram....bank is the most one we clearly see...get loan pay interest..what the fish??.

[@hparygzvo2434]

@@12bucukfalandim as you see...you got money from nowhere...

[@Thisfutureman]

@@wiassghulam5403 if stock market is not haram than why crypto ?

[@DZeuf]

Thank you very much for your explanation. Unfortunately when some sheikhs don't understand something well (or don't want or take the time to do so), it ends up ruled as haram. The lack of financial educations from most sheikhs don't help, as actually cryptocurrencies (bitcoin specifically) is a deflationary store of value and better than actual inflationary FIAT currencies with no backing (except riba debt), printing money out of thin air, making the whole monetary system fundamentally incompatible with sharia since Bretton Woods (only few sheikhs spoke about this openly). I don't know much about Indonesia but it might even be more of a political/monetary policy enforcement by the central bank & gouvernement through fatwa, as people are more keen to follow a fatwa. Also such forbidding remind me when scholars in 19th century were saying pictures are haram or in the 20th century television is haram or cartoons haram and so on.. As of Bitcoin itself (no all cryptocurrencies are like Bitcoin), it is the a way to hedge against inflation and if managed well, a gateway to financial freedom. El Salvador (who used only US dollar as its currency) decided to adopt Bitcoin as a legal tender (meaning a form of money and paiements) and few other countries will follow in this decade. However if Bitcoin is adapted in a country, this means governments won't have control over its currency. People will have the freedom of using and moving their money. It is definitely a threat to the ruling class of a majority of Islamic countries, which make sens to use fatwa as a tool to keep people from adopting Bitcoin.

[@Naifos]

Thanks for the video bro. Very educative and useful 👌👌👌

[@louisaelbattioui5789]

Thanks for youre effort. I think some islamic experts dont understand crypto or even the everyday monetair system. And some are talking in there own benefits aswell...

[@arowana0094]

Superb explanation, Jazkallahukhairan brother, very timely.

[@nafizhaq4554]

Issue is those give fatwah, most doesn't have indepth knowledge of modern finance and technology 🙄

[@user-hw3fz7ic5l]

You know better than the scholars who dedicated their whole life to islam, ma sha Allah tabarakAllah

[@nafizhaq4554]

@@user-hw3fz7ic5l I didn't said that, didnt I ? Either you don't understand what I'm saying or trying to misinterprete without substance!

[@profs2981]

@@user-hw3fz7ic5l to islam, not finance and technology, next time learn how to read before writing your self righteous comments

[@drgems]

Very well explained.

[@practicalislamicfinance]

Glad it was helpful!

[@amehfavour710]

How can withdraw USDT to binance account using only these words "head isolate sound end kit industry choice festival limit stable dolphin derive"?

[@abdulvosidalimjonov8693]

Thank you bro

[@ibraimaz694]

Great video thank you so much. I have a little question about crypto, please can you talk about farming and liquidity pool. Thank you

[@kurdvet24]

Thank you Mr Rakaan

[@sayeedahsan9109]

I believe you have to come out of your prenotion first. Since when did currency become a commodity? There are so much speculation about the value of any cryptocurrency. Currency cannot fluctuate based purely on speculation. And this is where the gharrar and manipulation comes from.

[@practicalislamicfinance]

Currency can fluctuate based purely on speculation.

[@bmmpainter]

Baraka lah fik akhi

[@shafeeqsap]

Assalamualaikum Brother ! Very well explained . Jazak Allah Khair. Question : Brother is CryptoCurrency for Example: (1).BTC ( Bitcoin ) Second Contract Trading Haram ? (2). is BTC Options Trading Haram ? Please explain , Appreciate your help and explanation of this.

[@myjohnplatt]

Nowadays we get paid directly to our bank account, we use our debit card to purchase anything, and both cases our money is invisible. More and more we're getting rid of physical fiat money! That's to say everything moving towards digital form. Fiat money was IOU note, or just a piece of paper with no real physical value, yet became the norm and halal to use. Digital currencies are heading that way. My point is: when digital currency becomes the only means of exchange will it be Halal or haram?

[@DarkPassengerYT]

Selam. Would you please make a video and explain is liquidity pool haram? Liquidity farming? Dual Investment? These are options that can be done on Binance. Right now, I am not doing any of those as I am pretty sure that some are haram if not all three. The only option using staking, because I believe that this is not haram as it is investing in the network/cryptocurrency itself and not lending to people. Thx in advance.

[@WellnessWays1]

Aslaum alaikum I need to know why islamic broker has many monthly charges and other platform does not have like etoro , robinhood , ibkr, webull That is commission free and if we dont use leverage no other fees im im just not sure about that they send little bit interest everymonth Can somebody clearify for please I just completed my trading class confuse about broker

[@HH-pv9ex]

How is the intrinsic value of cryptos determined? How is it backed or guaranteed? Is it a currency or commodity? All are unclear at this point and this the source of (gharar). When people buy it they only see it went from 0.01 cent to $50k....but they don't see it could just as easily go back to zero because the value is based on speculation rather than valuation.

[@purstatus]

Finally someone gets it. The rise of all of these mystery coins with mystery creators is just the gamblification of the world.

[@rumman553]

its value will not come to zero immediately bcz it will take time and its value depends on the market cap that how much people are investing in it just like stocks market

[@rumman553]

when you purchase a stock ,no government guarantees you that they will pay you the loss if the price of stock dumps

[@JJ-xo3bc]

I get where your coming from but I have a question. How is the value of the US dollar being determined? Cause last I read in university it isn’t backed by gold anymore

[@JJ-xo3bc]

@@HH-pv9ex oh ok. Thanks for the information!

[@naddykhan7325]

well explained .. stay blessed

[@omarfarique6304]

Salam Awlikum bro. A quick question is cryptocurrency Fantom halal?

[@Fungineers]

Funny thing is the background picture from the Quran: "then present your proofs if you are truthful"😂

[@mohammadalam2773]

Salam brother, is it halal to create your own crypto for ppl to invest in like any other actual crypto's that aren't a meme coin or scam coin

[@ayeshasagheer2971]

Sir I have a question regarding crypto mining. Someone ask me for the investment of 30 dollars in his crypto mining and withing 5 hours, profit will be 50000. Is it halal? Plz answer as soon as possible.

[@francis5489]

Text me me on my Google voice 👇

[@francis5489]

🇺🇸①(③⑧⑤)③②⑦③④⑧①

[@ayeshasagheer2971]

@@Nothing-rd9zh why u didn't tell me before? 😢 I invested 50 dollars. And at the time of withdrawa, they were saying give 200 usdt/$ for transaction fees.

[@ayeshasagheer2971]

@@Nothing-rd9zh JazakAllah brother. InshaAllah I won't. 👍🏻

[@AdelSerhane-g1j]

Salam alikom brother whic company right now is good to invest halal inshallah

[@kangcilok8330]

Hello from Indonesia

[@mohammedfoysol414]

How many Islamic bank does Indonesia has do they have any Islamic bank without interest before they talk about Haram they should fix their self and have every single bank without interest

[@osenial-hassan4131]

Salamu alaikum please do a review on CALA technology bot

[@syawalismail111]

How could you just be so sure that selling and buying things that actually don't exist physically (only appear on your screen) is halal and permissible? Are all of you deluded?

[@osmankeskin9140]

According to your logic you cant even sell software.

[@roshaanjamshed5756]

Future trading is haram there is no doubt about that but my question is how value of crypto currency increases. I think people investing in future trading is the sole reason which increases the price of any coin. I am confused

[@atafmyansari]

Does Crypto Currency have any government backup like out our ordinary currency have which we use in daily life, If the country take the responsibility for Crypo and take the taxes from there in that case it is halal or it is 100 percent Haram if country is not taking any responsibility

[@the_guy_with_yeeyee_a_haircut]

Taxes are haram because it falls under the اكل اموال الناس بابالطل

[@Tigar...Shabbir]

Very well explained 👏

[@onikazi9826]

Jazak Allah kheir

[@shams6522]

Is mining cryptocurrencies is halal in Pi app

[@savanasymbat3165]

Thank you brother for your video on this topic, their vote of making bitcoin haram had me worried , I didn't examine their reasoning before but their reasoning is childish and laughable . You don't know how much you made me happy.

[@wiassghulam5403]

Please don't listen to those kind of people who follow their patient and make halal which is haram. There is no doubt that the crypto is haram and the profit made on it is haram money. fear Allah and know that no matter how you get your sustenance your sustenance will remain the same so place your trust in Allah and he will open doors for you from where you did not expect.

[@rewielol]

Please don't listen to those kind of people who make haraam that which is halal. The burden of proof is always on those claiming that something is haraam. As for major cryptocurrencies and specifically Bitcoin, the case is not even close to being made to say that it is haraam. Those who make haraam what Allah has allowed should fear Allah. ''Do not falsely declare with your tongues, “This is lawful, and that is unlawful,” ˹only˺ fabricating lies against Allah. Indeed, those who fabricate lies against Allah will never succeed.'' -Quran 16:116

[@rewielol]

@@Nothing-rd9zh read my post again because you clearly misunderstood it.

[@rewielol]

@@Nothing-rd9zh Bless you and your family brother

[@aek8541]

@@rewielol What don't you understand about cryptos not meeting the definition of money as explicitly explained in the Qur'an as well as displaying serious Gharar?

[@platotle2106]

7:40 Unless the law is promoting something contrary to Islam, it has to be followed. Conflating this with some kind of shirk is completely wrong, and breaking it would be sinful, as it may lead to civil strife. This is the same argument that the majority of modern scholars make for the impremissibility of slavery in this day in age. By existing in a society and the Muslim community, you implicitly agree to a kind of social contract, breaking it would eo ipso be sinful. Instead of responding to this personally, you can just cite some other authority saying it's halal and be done with it, without venturing into areas outside your domain.

[@ali2009tube]

Frist of all Thank you Rakaan for this amazing video. I have one question regarding this topic. Do you feel that your intention (Alneia) also can determine what is halal and what is haram in crypto currency or any other type of trading. for example if you really know that this cryptocurrency has no utility or does not create any value or it was actually not created to deliver value so people can benefit form it but still you go and buy this so you can sell it for higher price to someone else who also think the same but want to sell it again? I hope you understood my point.

[@dzenis758]

That's a good question bro, I also thought about that like is it Halal to buy "money" just as investment with the hope it will be worth more and no intention of spending it directly

[@erwinditer450]

I think you guys are approaching it completely wrong. There is nothing wrong in buying something halal with intention to sell it later. That's normal investing, as long as that investment itself is halal. Having said that, if a crypto has no utility, meaning there is no (software) product behind it, apart from it being just another (scam) coin that's used to pump and dump and nothing more, then you should stay away from that, as a Muslim and as a normal human being. But investing in a project that has (halal) utility, with intention of only selling it later without any personal use for that utility there's nothing wrong in that, be it crypto or not. It's like me buying a car whose value will grow in 10 years although I have no intention of driving/using it, or an apartment or etc

[@ali2009tube]

@@erwinditer450 yes my point is on project that all know which has no utility and you know that it has no use but you still put you money just to make money taking advantage of pump and getting out before the dump

[@erwinditer450]

@@ali2009tube well then, even if you are not a Muslim, I think that is something rather disgusting to do. Crypto is much more than pointless scam coins, and you can get rich without selling trash to someone else.

[@ali2009tube]

@@erwinditer450 agree but out of 14000 coins I think most are trash and many people got rich from selling the trash too

[@shams6522]

Brother is the crypto mining is Haram

[@ahmedalawi6264]

Maasha'llah you bring light to my doubts about crypto jazakallah khayr

[@Nick-hd5xl]

Great video and explanation. Thanks

[@swagpat3630]

omg! i was just searching for this video

[@kingavenger1]

Love the channel!

[@erwinditer450]

Laughable fatwa at best, these type of ulama are those that are serving kings/presidents and ruling banks, and they are playing the religious card. While there are crypto projects that are definitely haram, crypto in itself is not, there are 2 types of people in muslim world that think it is, those above that are influenced by their governments and those that don't understand it and it sounds like something unreal. I have the benefit of working as a software engineer and as a blockchain engineer and I have deep understanding of it, and also I have shared my knowledge with multiple scholars and upon explanation no one ever said its haram nor it makes zero sense to be so.

[@internationaltourism]

Cryptocurrencies When Bitcoin was at a price 69.000 dollars it was halal, and when it became at a price 41000 dollars , it is haram hhhhhhhhhhhhhh

[@leun6768]

It’s just like the stock market and real estate. It goes down and up depending on numerous factors happening in the world

[@alwantsani1490]

Hi, IM Indonesian

[@shiftrip]

I may be wrong but I always felt that there should be Ulama specialists. I mean, someone who is a highly qualified Doctor and understands religion inside out, in my view seems fit to pass fatwas on say issues related to medicine/health etc. Similarly, an expert in computer science and finance who understands religion very well seems like the best fit to tell us about cryptocurrencies. I think our communities mostly have all-rounders who pass fatwas based on surface level understanding of highly technical subject matters. Am I wrong to think this way?

[@jobverheijden9680]

Offcourse its Haram. Your betting with money. People always bow things in their favorite so also with saying that Cryptocurrency isnt the same as gambling. Please... your investing money to make more money..... crypto is whats wrong with the world today. Everybody want to be money rich. Some people are so poor they only have money.

[@Thisfutureman]

Lol so investing in the stockmarket is also haram so for example microsoft ? If i invest 100$ into microsoft and the value goes up and i gain 500$ os that haram or halal ?

[@Thisfutureman]

Btw there is a big difference in betting and investing , you do research first before you invest , you dont buy stocks just because it maybe go up !!

[@osmankeskin9140]

Brother. Can you please explain what the islamic definition of gambling is ?

[@vanramin5607]

Lot of things they say is haram don't do this or that but they do it and tell you not to

[@leun6768]

Wrong

[@TheQuran-TheSunnah]

Assalamualaikum brother. Can you please make a video on you tube earning. I have been requesting for a long but still didn't get any response from your side.

[@koshin5421]

We need more contents like this. Well documented and giving hints for those who want to dig further. Very much appreciated! Wcs till next time inchallah!

[@crypto_pro]

Is arbitrage halal in crypto.? On Recent crash in crypto, binance and wazirx had 30% difference in ada & some other coins. which lasted for about 2 hours . Its like unlimited free 30% profit. Can we buy and sell that time. Is there any halal elements included there. If you know about it please reply . There is no speculation involved here right.?.its buying from one market and selling to another at current price. There is no speculation needed.

[@syedmazhar7666]

Investing in stocks is not haram, but investing in haram businesses i.e. Alcohol stocks, Gambling stocks is HARAM Same goes for crypto. Investing in Crypto is not haram cuz this is just a currency. Buying Gambling crypto, Pornographic cryptos are HARAM

[@shaikhsameer130]

Thanks bro

[@pingpong4401]

Well said Syed!

[@arhumraja8881]

Yep

[@mustaphy09]

I have always wanted to ask about BOT Trading what's the ruling. Jazakallahu khair

[@LifewithHusna]

How do you see binance dual investment is it halal or haram

[@mohmda4449]

💚

[@AlHamdAssociates]

All great ulma and scholars prohibited the trading of crypto currency and I really appreciate their decision and we should...sorry bro I m not agree with your decision

[@Thisfutureman]

Untill the governments are banning physical money than those scolars gonna say it is halal, is investing in stockmarket halal or not ?

[@AlHamdAssociates]

@@Thisfutureman investing in stock market Halal but with few conditions (mentioned by mufti taqi Usmani sahab) if those conditions are not fulfilled investing in Halal market wouldn’t be Halal

[@Thisfutureman]

@@AlHamdAssociates now you contradicting yourself brother, i invested in a halal company in the crypto market its called ripple , so if that same company was in the stockmarket than it would be considert halal but in crypto not ? The coin is not what you invest in it is just a logo from the company. Offcourse you can not trade in haram stocks but if that is the only issue in stockmarket than crypto is no difference in that brother

[@AlHamdAssociates]

@@Thisfutureman bhai u didn’t the point actually….crypto is not declared as a legal currency yet & it’s on air only …do u know who handle and take care of crypto .no regulatory body is there to handle crypto these are some reason why ulma declared it as Haram …me and you are not greater than ulma . We should follow them ….

[@Thisfutureman]

@@AlHamdAssociates lol el salvador made it their legal tender and almost every country you can pay with bitcoin, i can even pay when i buy food . If i was you you should look again at this video and listen very carefully , the ulama that you speak of maybe say it is haram because in favor for their country banking system or goverment . You will see in a few years they will say its halal and than what you going to say

[@swagpat3630]

can you please make a video on if crypto day trading is halal or haram?

[@dzenis758]

I think it doesn't matter if it's crypto or something else

[@erwinditer450]

@@dzenis758 It does matter, problem with day trading outside of crypto is that you are borrowing someone else's money since transactions take days. In crypto, day trading would be selling and buying on the same day, and since transactions take minutes, you are always trading with your own money/crypto - so no problem in that, unless you are using margin of course, then that is haram.

[@dzenis758]

@@erwinditer450 i thought the issue with day trading is that due to the short time frame it's considered gambling🤔

[@abdrazekredouane3986]

@@dzenis758 slm khoya anchallah algérien i thought the same thing

[@Kriptosavdo_kanali]

May Allah bless you!

[@ibandour1218]

Salam ,is metahero haram?

[@parvezshaikh7286]

Bro you are trying to convince yourself what you are doing is halal and possibly bcos you have already invested in it and are making good profits. First you need to decide whether you want to consider bitcoin as a currency or an asset. If you want to consider it as an asset than it has materially no value bcos physically it does not exist..if it is currency who wants to buy when no country has legally accepted it as a legal tender. So basically you are convincing your own self and misguiding others to get into it which is highly speculative.

[@wiassghulam5403]

he follows his patients and is attentive to people

[@parvezshaikh7286]

Currency is back by the government who are meant to govern and administer the country. BTC is not backed by any regulatory authority. There is a logic and science behind how much currencies needs to be printed which is decided by the central banks looking at various economic indicators. Software is a product and not an asset..it is bought bcos it provide certain utility..bitcoin does not provide any utility..value of btc is purely decided by demand and supply which is controlled by few wealthy individuals and FII who creates fluctuations in the prices as per their personal interest and general public try and gain money out of this speculation. So speculating is haram or halal in islam..ask yourself..no need for justification and certainly please don't misguide people who follows your channel..bcos ultimately you will be accountable in front of Allah if they get into it based on your advice. Doing yourself and later repenting is still fine but misguiding others to do wrong is a greater sin. May Allah guide us all on a right path. Ameen

[@multidimensiongaming]

What if I deem gold as valueless to me, it’s a useless metal that’s heavy and sits in the earth. That means gold is haram because I don’t see any value in it. No modern country uses gold as an official currency so therefore it is haram.

[@parvezshaikh7286]

@@multidimensiongaming Assalamualaikum..Is it a logical argument? Gold has a history and is being used for thousands of years as a currency and also an asset. Don't try hard to convince yourself..Just follow your heart in light of Quran and Sunnah...ask yourself what is the reason you are buying Bitcoin...if it is a currency..no country accept it as legal tender..if as an asset than what utility does it provide to you?

[@practicalvoice1220]

@@multidimensiongaming Gold is stated in the Quran to have value for trading etc, no Muslim should against that, I don't think you structured your statement correctly,

[@InvestorSheikh]

This is why we need more younger ulemas in the World.

[@Memic86]

We need people to study their deen, not young muftis who have no knowledge nor education

[@InvestorSheikh]

@@Memic86 Agreed

[@each1teach1]

Imagine Burkina Faso actually win 🤭

[@azmanifthikar9488]

What is your view on LUNA ? Is it Halal ?

[@savanasymbat3165]

Luna is halal , good toconomics, it's deflationary and it's ust is better than any form of money , luna is even better than btc , it has use cases , any blockchain which has good use cases is halal in my opinion . But some blockchains that are providing services to gambling or adult industries are strictly haram.

[@abdrazekredouane3986]

@@savanasymbat3165 بارك الله فيك never thought on this im a new on crypto

[@wiassghulam5403]

it's not something for which we can say that it is sure it is 100% halal so because of this doubt we must avoid otherwise it means that we follow our patients and it is very serious we are talking about its substance, it is not something that can be neglected, it is very important, what is in it to leave it for fear of Allah and it will undoubtedly grant you something better

[@wiassghulam5403]

@Nivek61 what are you talking about

[@helaluddin4457]

MashaAllah brother

[@newton7602]

So is minting nfts halal i mean u know atleast u will get something but u dont know wether it is common or legendry any one has idea ?

[@newton7602]

I guess buying them is halal but what about minting as u dont know what u are going to get but u know u are going to get something so any ideas ?

[@hussainahmadq]

Very good points I agree as I'm an Islamic scholar in pakistan.

[@hussainahmadq]

I say sorry for using this word for my self . This is problem of English language for me. So I'm really sorry for that. And i appreciate you for teaching me some best words . Thanks

[@doghun4416]

Salam. So you are an islamic scholar with a user name "crypto fan" ? That doesn't seem logical.

[@ChafikTheChief]

Ketchup Packets 🤣

[@marlonhosten4693]

This Fatwa is LAUGHABLE ! They are currently more than 10,000 Crypto currencies on the market. Each project is different and cannot be placed into one category. Ethereum is like the play store on your phone, it's a Layer one Protocol that Apps are built on. Sandbox is Gaming on the Blockchain. Cardano is all about Smart Contracts on the Blockchain. Are these things Haraam ?

[@wiassghulam5403]

the best would be to listen to the scholars and not go into it because the least penny of haram can be very expensive on the day of judgment

[@marlonhosten4693]

@@wiassghulam5403 No muslim will be punished on the Day of Judgement for engaging in the HALAL ! You have yet to answer my question above. Also it is clear to me that you have done no independent research on this topic. Most people today and muslims included are Ignorant to Blockchain technology, Web 3.0 and the Metaverse. Very shortly you will be forced to use all three platforms !

[@haid3r88]

@@marlonhosten4693 I know exactly what you mean bro. Some Muslims are quick to jump to "Haram" when they don't understand something. Unfortunately cryptocurrency has been lumped as one thing in the eyes of these Muslim 'scholars'. I'm pretty sure they still think of Crypto as this "gambling" type platform and have an outdated view on it. In that case anything can be Haram. Here's the annoying thing, if I had a friend come up to me and say, "hey, I have a good business idea, I'm going to open a restaurant, I just need you to invest half of the funds with me, and then you can own 50% of the business", and after briefly hearing him out, lets say his idea seems lucrative at first glance, so I hand over half of what he needs (in this example lets say $50'000) since I know him and trust him, but the reality is I didn't research his ideas further with him (neither had he researched his idea enough himself), neither of us did any market research, looked at the area we plan to open businesses in, never assessed competition etc etc... for some reason the Muslim society would be all fine and happy with this. Family and friends would encourage me to go ahead (since my good friend is a genuinely decent and nice guy) ...but let's imagine in a few years of trying to open the business, it fails, we both loose our money, because neither of us did good homework before utilising our money. The sad truth is, everybody would have seen our attempts as being halal and perfectly normal, but would just sympathise for us since we lost our money trying to open a business, even though in reality we took a big gamble (as this is literally what we did, as we went into our plan blindly). Nobody would see it that way. It's not haraam what so ever then lol But on the other hand, imagine I did heavy extensive research in the right respective fields of study, I kept in touch with the right circles, kept on top of reading the correct subject matters, kept a close eye on the markets...basically I do my in depth research very frequently, so I pretty much have very good reason to believe my investment will be sound and secure.. so I go ahead and proceed to invest $20'000 in crpto... all a sudden the Muslim community will turn around to me and say "HARAAAM!", and even if I was right in the end, and I make returns on my investment, they will still say this was "Haraam!" and my point is that if we are going to treat it that way, then almost everything in the world becomes haram. Muslims invest all over the world, Muslims Invest in land, property, commodities, in people etc. So should we just call "investing" Haraam in itself? Of course not. It's not the fact that you want to invest, but how much have you looked into what you wish to invest in which is the difference between Halal and Haram. Sadly, many Muslims think investing in crypto is like playing a game of black jack.

[@marlonhosten4693]

@@haid3r88 As-Salaam Walakum Wa Rahmatulahi Wa Barakatuh, thank you brother for your well worded response. In life if you want to acquire Life Changing Gains from a New Trend, you must get in early before the MASSES of people catch on. There are many people and muslims today who are ignorant of the following, 1. Block Chain Technology 2. The Crypto Market 3. Web 3.0 4. NFT'S 5. The Metaverse 6. Decentrelized Finance In this decade, these trends will produce more millionaries just like the internet did for those who invested early in the 90's. You are correct when you said that they view of Crypto is OUTDATED !

[@aek8541]

@@marlonhosten4693 How is this response supposed to support an argument as to whether Crypto is Halal or Haram? The biggest money maker of all time is the printing of money - should Muslims get in on this game per your logic??

[@wiassghulam5403]

Please don't listen to those kind of people who follow their patient and make halal which is haram. There is no doubt that the crypto is haram and the profit made on it is haram money. fear Allah and know that no matter how you get your sustenance your sustenance will remain the same so place your trust in Allah and he will open doors for you from where you did not expect.

[@wiassghulam5403]

the best would be to listen to the scholars and not go into it because the least penny of haram can be very expensive on the day of judgment

[@MariAm-tc9xm]

Could you explain why for you there is no doubt that cryptos are haram?

[@haythamhakla]

@wiass ghulam . You are not in a position to make an undisputable fatwa about this topic. Even educated scholars have refrained from doing this due to the novel nature of this technology.

[@wiassghulam5403]

@@haythamhakla I am not able to make a fatwa and I don't need one there is already one to say that it is haram stop following your patients ...

[@mmm37722]

@@wiassghulam5403 give the reasons why it’s haram

[@engenglish610]

🌟🌟why day trading is haram? I mean day trading on spot crypto (binance).🌟🌟

[@practicalvoice1220]

You don't own the coin, ur just predicting/betting on the Spot price, which way the price is going to go,

[@engenglish610]

@@practicalvoice1220 👉👉No on spot market you buy really the coin and for this reason it's impossible to trade shorts on spot market 👈👈

[@encikanonymous]

@@practicalvoice1220 in that case, no business is allowed in Islam. All business model is based on prediction after intensive studies, research and analysis. No one can predict what happened second in the future. That is why we have pattern studies.. day trading predicts by analyzing pattern and news. It is not just betting on slot machine

[@the_guy_with_yeeyee_a_haircut]

@@practicalvoice1220 u own the crypto because u can transfer it from wallet to another and ur not predicting where the price will go u buy it at a certain price wait for it to go up and sell u could make money or lose

[@rustigaanmaatjuh1692]

FIAT is haram

[@Memic86]

Man…giving fatwas bro you are insane

[@asifgoldmine228]

Okay google shaykh 👍🏻🤣

[@arhaanakhtar3568]

Bro plzzz tell me the conclusion.... It's haram or Halal?? Plzzzzz

[@wiassghulam5403]

@@arhaanakhtar3568 it’s haram bro, pls don’t listen to that kind of person who follows his patients

[@nehaspecialityveterinaryho337]

@@arhaanakhtar3568 It's Halal bro

[@marlonhosten4693]

@@wiassghulam5403 Check my response above and tell me if these things are Haraam !

[@arhaanakhtar3568]

@@wiassghulam5403 reason???

[@hassan81s]

I urge you to look into what Dr. Ali al-Qaradaghi said about this subject. It's rather dangerous to rely on the Google translation of the fatwa, as such translation would not reflect the nuance in language. For example, I'm not sure if Google could properly translate the difference betweenتحريم الوسائل & “تحريم المقاصد

[@jamacsabriye4903]

How can we contact that sheikh, I see his videos but westerners are never able to contact him regarding, forex, crypto and stocks.