I understand that I have to pay zakat on current portfolio value. I have a stock (Argo Blockchain) that is fluctuating heavily in last few weeks ranging from £1.25 to £2.80 roughly. If you have thousands of these shares, you will have varying portfolio value resulting different zakat figure on different days. How do you choose in this case?
If I remember correctly last year I paid zakat based on calculation of 1st of Ramadan. Do I need to follow 1st of Ramadan for this year or it can be any date within Ramadan?
Wa alaykum salaam,
Yes, you should pay Zakat on the same date of 1st Ramadan.
Allah knows best
i have a question relating to zakat my crypto portfolio where i trade, short term and some assets which are held for a longer-term strategy. Ive held the assets less than a year, since they are interchanging with different cryptos i buy. Most of my long term crypto assets been held for 9 months the rest are bought and sold when I SEE a profit opportunity. Now the question arises that my----
—crypto wallet is always fluctuating, also i have not held the same amount for a year,for example last may it may be worth 10k£ now today its worth 100k£ some of the assets in the wallet are for longer term investment strategy and I may maybe cash out in next 6 months or so, the others are for trading for short term [profit.How do i work out the zakat? Do i just work out 2.5% on the mkt value today of £100k,even though this value may be on paper for the last few months? And CERTAINLY NOT THE VALUE FOR LAST 12 MONTHS .very confused. Please advise JZK