Assalamualaikum, I don’t know much about crypto but recently I came across a telegram group that helps in crypto pump and signals i.e they tell us the crypto to buy, when to buy and sell it so we can gain money.
I want to know if it’s halal to do something like that
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Wa alaykum salaam,
The exact nature of what is being advised is not clear from your question.
Oh, I’m sorry, so I joined a telegram group where they tell us to invest a certain amount of money in a crypto, then after 5 mins we sell the crypto off and remove our gain.
Now is it Halal to do things like that?
Thank you.
yeah, its a thing going on and called Signals, where someone has an expertise in the rising and falling trends and measures it live by himself or a team, he creates a telegram group with a wide audience to be able to trade side by side with him… he tells you the time to invest either up or down(in binary options case) ,and gives also a risk criteria if there is a loss in the current session you double the investment amount and change the time like additional 5 minutes. I will send a link of the telegram group so the respectful scholars know how to give fatwa with greater detail.(link: Telegram: Contact @magistradersignalss ).this is just a link of one of them trading with many people from different countries.
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This sounds like manipulation of the market and is problematic.