Crypto Question: Cryptocurrency trading

Wa alaykum salaam,

The exchange is still being finalised and will be launching in the coming one to two months Insha’Allah.

Looking forward to it.
In the meantime which excahnge would you recommend ?

Can you also share your view on ADA / Cardano ?

As I said, it depends on the crypto you want to buy. Certain crypto is offered by certain exchange and not offered by certain exchange.

As for ADA, sorry, I don’t have any information.

Assalam-o-alaikum. Could you please clarify regarding the Shariah compliancy of Bitcoin?
Is is Halal to trade Bitcoin for profit?

JazakAllah.

Wa alaykum salaam,

It is permissible to buy and invest in Bitcoin.

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JazakAllah Khair for the response

Salaam. Would you be able to advise on permissibility of Cardano/ Ada and its PoS - would staking coins with ada be allowed?

Salaam,
Would you advise on the permissibility of staking Crypto.com Coin (CRO)?

Is it permissible to but crypto for card merchants such as CRO/ Revolut who charge a fee for membership?

As they are generally a debit/ prepay platform, they do not seem to charge interest on borrowed amounts.

What do you mean by “buying crypto FOR card merchants?”

Salaam,
By your previous answer regarding Celsius Network Sharia compliance, I would now assume that any investment in the DeFi (Decentralized Finance) may be prohibited for muslims by its concept ?

Wa alaykum salaam,

Yes, DeFi is currently problematic at present with its interest-based models.

Allah knows best

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Assalamu Aleykum, can you please share more information about the course, and if it takes longer time to launch, perhaps you can recommend something in the meantime?

Assalam, i just want to ask if trading indices is haram, i think it’s also called stock indices as trading stocks isn’t haram image|281x500

Assalaamu alaykum,

Trading conventional indices is not Shariah compliant.

Jzkkhair. Would u advice me to sustain from forex trading because I’m not a scholar and I’m a bit skeptical because of different opinions I’ve heard?? And what type of trading is permissible in islam, shares/stocks?? Can i start stock/shares trading? Is it sharia compliant?

I’m a bit confused…

As-salaam alay kum Mufti, is it permissible to purchase a currency token in whereby the token network allows the option to timelock tokens in the blockchain for newly minted tokens as a reward? I’m not sure if the reward would be classified as riba. I am also interested in the cryptocurrency shariah compliant investment course how would I go about applying? Jazakallah

Is it permissable to trade in Crypto in Pakistan, while a ban is in effect? What if one is not trading in Pakistan but on a platform based in the United States, but with Pakistanis and other traders around the world?

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Wa alaykum salaam,

I would consult the local Muftis for this specific question.