Is cryptocurrency futures trading halal?
Don’t forget to share your opinion
No, futures is not haram in my opinion (I am still searching for 6 months) especially in my opinion because first of all there is no riba (interest) involved.
The position size matters. For Example there are 2 cases :
Case 1 : 5USDT - 10X leverageHere your total position or trading size is 50USDT and ofcourse to use their platform they deduct fees which is in spot to.
Case 2 : 10USDT - 5X leverageHere your total position or trading size is again 50USDT and ofcourse to use their platform they deduct fees which is in spot to.
Go in demo trading and see that the fees is same for both positions. Its not riba but the fees that is involved for placing trades. I know the hadith that people will call interest with different names but here no interest is involved.
The thing that says possession is important will not apply here.
The Holy Prophet (may peace be upon him) has warned the Muslims against indulging in forward transactions which means selling goods before obtaining their possession. “Whoever buys cereals shall not tell them until he has obtained their possession,” says the Holy Prophet (may peace be upon him). According to Ibn 'Abbas, what applies to cereals also applies to other categories of goods. On another occasion the Holy Prophet (may peace be upon him) has said: “Bargain not about that which is not with you.”
Here we are told to avoid GHARAR (Decieve) and in futures no gharar is involved because you know your assets will be bought in future and sold if you sell them.
You are simply making a promise and its permissible.
You can borrow money and do business with the money unless no riba is involved and here there is no riba.
These are just my opinions. ALLAH(SWT) is the creator of the whole world and he know everything. And he knows the best.
Still I haven’t started trading and I am just waiting for some confirmations and pure knowledgable thoughts.
assalamu alaikum!
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