Mufti sab I hope you are doing well.
Mufti sab my question is related to USDT trading which is a stable coin and is baked with USD fiat currency.
My question is that: I buy USDT with my local currency in binance and sell it with some profit.
For example : I buy 1 USDT with Rs.185 and sell it with Rs.186 and take my profit Rs.1.
Is this trading Halal or Haram and also kindly tell me difference between stablecurrency and unstable currency.
جزاک اللہ خیر
Assalamualaikum brother, I want to ask whether usdt is permissible to trade since it is grey on the IFG website plus you asking the question about it? If it is grey (shubhah), then all transaction involve with it is prohibited. Can you give me a reply. Thanks brother.
It is haram. It is based on no fundementals and is not a currency. It is backed by nothing. USDT have multiple lawsuits against them and are a known and confirmed Ponzi scheme. Please do your research and check to confirm all this.
As Muslims we are NOT allowed to participate or even be near such haram things. We are meant to be the example to all others to maintain a higher standard, moral purity and halal economic function.
…if we predict Market price or currancy and prediction is related to rise and fall and it is for 5 mints??and we are doing work under a broker or person who know about the market more than use and we are not getting loss we are getting profit and work 6 hours a day . .is it halal or haram??