Trading cyrptocurrencies

@Mufti_Faraz_Adam I am new to cryptocurrency and tokens, and I was wondering if it was halal to use Ethereum, BTC, HBAR and LTC for trading. I read about them and learned it was OK to use them for transactions, but I want to use them for trading like HBAR to dollars or BTC to euros just like trading between dollar and euro. My question applies to day trading and trading as a long-term investing like staking?

I couldn’t find an answer to whether it was halal. Can you please inform me about that?

Moreover, are there any platforms that I can use to trade? I know there are many platforms, but I’m worried that they might not be permissible since they include interest.

Wa alaykum salaam,

BTC, Ethereum and LTC are fine in principle.

It is permissible to exchange these Cryptos with Fiat currencies.

In terms of platforms, there are quite a few. Coinbase and Binance are common platforms. Another platform is Fasset.

HBAR I have not looked at so I cannot comment on the Shariah compliance of it as of yet.


Assalamo alaykoum,

Thanks a lot for your answer. It really helped me. I was wondering if the same thing applied to DOT, LINK and ETJ (Are they permissible, too when it comes to trading with Fiat currencies-both short and long term?).

Also, is there anyone who can help me about whether HBAR was permissible for exchanging with Fiat currencies?

Salam warahmatulah ! Did you find answers if HBAR is permissible, cause I would like to know also ? Can you tell me if you have source ? Barakalahu fik brother !