Crypto Question: Day trading cryptos against each other

Salamu alaykum, Hope everyone reading this is staying safe in shaa Allah my question is : Is it sharia compliant totrade cryptocurrencies that are quoted against each other e.g BTC/ETH or BTC/XRP ?

Assalaamu alaykum,

It all depends on the Shariah compliant status of each token and the type of transaction.

wa alaykum salam, so as long as i trade shariah compliant tokens i am fine. jazakillah

@Mufti_Faraz_Adam Assalaamu alaykum, if the cryptocurrency is shariah compliant, on Binance can we buy and sell (trade) them on the same day or a few hours after? Its not like stocks where there is a settlement period and we would have to wait T+2 days?

^ @Mufti_Billal I would appreciate anyone from IFG answering this question please.


May Allah bless you.

From a fiqh perspective, currently I don’t have a stance against, or in favour of trading cryptos on centralised exchanges, including on the matters related; such as day trading.

Allah knows best, and His knowledge is most wise and complete!