Crypto future trading halal reasons

#1

Salam ,

I wanted to know why future is haram?. Kindly please explain reasons. Future of crypto is different from stocks and forex we have to understand this.

  1. Posession : We invest usdt ,now usdt is not a currency it is a stable coin. Now we can either deal in USDT or usdt pairs of crypto like BTC/USDT to get profit in usdt then sell it in desire local paper currency. So the ownership or possession is in form of coin not cash. We invest our assest with leverage which is borrowing and we get Asset in return. USDT is asset not cash.

  2. Gambling can be in any business or trading, even marriage people consider gamble if not taken right decision , so who have knowledge doing future then what is wrong.

  3. Funding fee people say it is haram because it has to be paid at every 8 hours . Even it is at 8 hours of trading is enough to make profit and exit . When we exit trade there is no funding fees charged.

  4. Fraud and deciet can be in any trading , again who have no knowledge about crypto if they trade they will lose money.

  5. Earning money from youtube is consider Halal?, we donot have youtube as an asset if internet close or account deleted there is no wajood or presence of youtube . On youtube platform 90% content is haram even ads haram. But crypto we do get return and have ownership of asset in digital form in wallets.

  6. Banks who consider use method of musharka or mubaraha is halal but the basics or a banks is based on interest rates . Interest rates are determine by GOVT . If interest rates are high from Govt then those banks change their annual profit rates which is interest . But islamic scholar consider halal !!

7 . Why malaysia and saudi have introduced futures in stocks after consulting shariah boards ?

Please explain my points what is wrong in crypto future . No offences

#2

Gambling is not haram because of uncertainty. There is always uncertainty in all things, a marriage, a job, paying for an education and hoping for a return on that investment in the form of a good job, etc. because humans can’t predict the future. That doesn’t make spending money on an education gambling. Nor does it make buying into a business with doing one’s research haram. Unwise, but not haram.

Gambling is defined as wagering money on a something with chance, usually a game, (i.e. a race, sports, poker, etc.) where if someone wins, you take the money, and if someone loses you lose the money. Here, you are not buying or selling anything, rather you are exchanging (risking) your money for nothing except the chance of a reward.

It is haram because Allah has said, “O you who have believed, indeed, intoxicants, gambling, [sacrificing on] stone alters [to other than Allah ], and divining arrows are but defilement from the work of Satan, so avoid it that you may be successful.” 5:90

Opening a business is not gambling. It is buying a place, buying products and selling them (trade), selling or providing a service for which you are paid, buying land and selling it (real estate), or buying a share in a business and then selling it (stocks) etc. Buying and selling is exchanging something of value (money) with another equivalent thing of value (a business, land, product, service, etc.) The other thing of value might appreciate or depreciate with the economy, however that product you bought, or the service you provided exists.

This is unlike gambling where, you are not exchanging money for anything of value, rather simply risking money for the promise of a reward purely based on that risk. There’s no exchange of products or items of value here. The gambler who risks his money doesn’t receive something of economic value in return.

Is there uncertainty in trading in the sense that your business might fail or the stocks or the product you bought might depreciate? Of course. However, Allah has made trading i.e. selling and buying halal.

“Those who consume interest cannot stand [on the Day of Resurrection] except as one stands who is being beaten by Satan into insanity. That is because they say, “Trade is [just] like interest.” But Allah has permitted trade and has forbidden interest. So whoever has received an admonition from his Lord and desists may have what is past, and his affair rests with Allah . But whoever returns to [dealing in interest or usury] - those are the companions of the Fire; they will abide eternally therein.” 2:275

This Ayah is saying, though you might find philosophical ways to compare trade or buying/selling a business to interest (or as in this discussion, gambling) and find similarities between them, they are fundamentally different. Allah has explicitly allowed trade, and explicitly forbidden gambling and interest.

This has not even touched on the psychological, addictive and damaging effects of gambling which was mentioned with intoxicants in the ayah for good reason.

#3

You said there is no exchange of products or items

USDT is itself a product or coin. It is not fiat currency or cash or money.

It is just a stable coin . Usdt and usdc…

We deal in btc/ usdt pair . We invest usdt and get usdt in return so yes there is exchange. Of usdt.

If you donot want to deal in USDT COIN PAIR

WE CAN TRADE in BTC -M Coin pair .in this kind of pair we invest Bitcoin get in return Bitcoin so .

Crypto futures is different from stocks.

My point was how gambling is in future trading of crypto. Those who trade blind eye in any business / or any aspect of life. it is gambling