Salaam alaekum @Mufti_Faraz_Adam;
Is it permissible to stake crypto assets and earn ROI on them? The companies use different wordings like Reward or Interest to describe the ROI to the asset owner who carried the risk of trusting the asset to the staking platform.
There are 2 forms of staking I have come across -
crypto asset is locked and inaccessible to you for a period, with different ROi based on how long the asset is locked.
crypto assets are not locked and you are allowed to withdraw the asset anytime (soft staking).
Example of these types are on crypto.com (which also has an exchange coin CRO) exchange.
To be specific on the crypto assets for staking, I am keen to know if staking CRO coin on crypto.com is permissible in either of the above forms.
Based on my understanding of staking, in and of itself, it is not an issue. However, you would have to ensure the crypto you are purchasing and staking is Shariah compliant.
A fixed return can be structured in multiple ways. For example, in Ijarah and Murabaha, a fixed return is fine. But in other contracts like mudaraba, a fixed return is problematic, you can only have a fixed percentage of profit share and not a guaranteed return.
I have recently started investing in crypto currency and i came a cross Staking and i would appreciate if someone can give me a certain answer if staking is halal or not please?
here is a website where all staking rewards happens
Jazakallah for the response.
I am still not sure as the answer wasnt clear , I would appreciate a response related to the website I have included in my question and also a specific coin called Zilliqa.
I want a definit answer please, is Zilliqa staking halal?
AWW. Is there any difference from shariah perspective between nominated PoS and delegated PoS that may make one or the other problematic/impermissable?
