Crypto Question: Is Binance Coin BNB halal?

Investment Questions and Chats Crypto
#23

Assalaamu alaykum Mufti,

When you get the chance to answer here please, could you also advise on whether its ok to stake ADA?

Here is the response I received from the pool owner to understand how it works:

“With ada you lend your staking rights to a pool, the pool doesn’t get your ada just its stake value, this increases the probability of that pool mining more ada as it processes transactions for the network. In return you earn extra ada. At no time, with cardano, are your coins locked up or under someone else’s control.

Pools will charge a fee for this service, as we have to run servers with high uptime and maintenance. I charge 1.9%. So I get a small fraction of your rewards. And I also choose to spend some of that saving koalas. Not all pools have some special cause, its just what I want to do, along with a few other pools. Most just keep it all for themselves.”

Would it be ok to join that pool?

Your guidance would be greatly appreciated.

#24

@Mufti_Faraz_Adam @Mufti_Billal

Assalaamu alaykum,

I am still unable to reach Amanah Advisors through both email and phone call. I would greatly appreciate a response to my query on VET, XLM, MATIC, SNX and the permissibly of staking as highlighted above with ADA specifically.

Thank you.

#25

Some are listed in their top 50 review: https://www.islamicfinanceguru.com/crypto/

1 Like
#26

Thank you, Mohammed. That’s really helpful and a link most needed. Now I’m just left with MATIC and the enquiry about ADA staking. I hold some MATIC, hence the worry…

#27

Thanks brother! I really appreciate it. It clears my concerns.

#28

Aslamualikum i am also looking for this answer.did u get answer from any scholar?

1 Like
#29

Wa ʿalaykumu salaam, I have not recieved any answer, staying away from it in the mean time

#30

I am actually in SXP and would also like a fatwa on it

#31

Would sxp have the same opinion as cro? Seems to be a very similar situation
#32

How about bit torrent, siacoin, the graph, algo
rand, ALPHA, RUNE, LINK. And BUSD?

#33

Assalam ulaykum… i found something about this too and one on my group debating about this “binance saving with interest” hope can get answer thanks

#34

have u got any fatwa on sxp?

#35

Assalaamu alaykum,

I hope you are fine and doing well.
Mufti sahb, I’m new to cryptocurrency. I’m using binance Exchange and it has pool-like features, where you transfer your tokens to this pool and also get some distribution rewards. Is it halal or haram ? Please give your comment.

#36

Salam alaikum
Please mufti Adam it’s possible to help me in this question
I have a question ist the token Hot(holo) and Mana, and Enjin, bit torrent token halal for trading.?

Thank you for help

#37

As salam o alaikum.
First of all, I would like to highly appreciate your services.
Allah aap ko jazaekhair ata farmaay.
I have a question regarding binance launch pool if someone holds coins BNB or other coins such as USDT or BUSD in that there is an option to earn crypto asset in a month or so…which later can be sold or whatever someone wants to do with that. It is apparently described by binance as a source of funding for a project launch on binance.
Actually, its turning into 2 questions:
1 . Holding binance coin to farm new crypto assets is permissible or not? (this is a bit confusing as in return i am getting shares or assets not as bnb to bnb so i am confused it it permissible or not)
2 . Holding bnb to earn bnb is it permissible?? (this simply 100% seems interest or riba to me so I stay away)
kindly reply for both.
JazakAllah.

1 Like
#38

@Mufti_Faraz_Adam What are your thoughts on CAKE. I know you dont do individual coins but this one is a very major coin thats tied with the PancakeSwap exchange, one the biggest exchanges right now in DeFi. Similar to Uniswap and its exchange.

#39

Salam walakaium is chillez halal , CHZ the crypto . Please ive invested into ive did alot of research but still want to know . Jazakallah @Mufti_Faraz_Adam

#40

unable to download, can you please share it on zahidbashirsoomro @ gmail com

#42

Selam Aleykum Mufti, the download page does not work, can you provide another link to access the document.

#43

Salam. Is it halal to invest in flexible saving in binance exchange. They are providing 1.45% profit on investment and what are your views about future trading in binance is it halal…

JazakAllah