Earning from Crypto Trading permissible?

I have a few questions regarding crypto trading. Please answer them.

  1. Cryptocurrency trading involves a lot of speculation. Is speculation allowed in Islam?
  2. If I invest $50 in Bitcoin today, and 2 days later its price goes up and my capital rises up to $100, is the profit permissible?
  3. If one of my friends suggests me to invest in a certain cryptocurrency that will give me profit, and I personally don’t do research or analysis, is it allowed for me to invest?

I have more questions in mind but these are the basic ones that will connect to others.

Wa salam

May Allah bless you.

It is permissible to invest in cryptos as longer as the method of trading is in accordance with the relevant shariah principles. And the cryptos must also be shariah compliant.

And Allah knows best!

Jazak Allah for the answer.

I have understood that trading cryptocurrency is permissible, and I have also seen the list of cryptocurrencies by IFG. Can you please answer my third question specifically? Because I read that self-research is required for a trade like this to be permissible, and if we invest blindly because someone suggested us to do it, it will be termed as gambling. Please clear my query regarding this issue.

Barakallahu fik

It is permissible, even if you did not do the research yourself, provided you trust your friend to advice you on halal and haram.

And Allah knows best!

1 Like

Jazak Allah.

I will continue my research now that my basic queries are cleared.
Allah Hafiz.

Assalamualaikum I am from Pakistan can msg you in Urdu?
Mufti shib I. Am here Forex is haram I am very scared to haram earnings my heart is disturbed and not clam please Forex is haram or halal I am learning Forex for 5 year but Al ham du lillah this learning also work in crypto

Wasalam

Yes you can message in urdu.

Kind regards

forex mai km kr skty ??? or crypto mai??