What is the ruling on investing in Bitcoin from an Islamic perspective?

3 answers

• May 06, 2022 · 3 years ago
  From an Islamic perspective, the ruling on investing in Bitcoin or any other cryptocurrency depends on various factors. Some scholars argue that Bitcoin is not backed by any tangible asset and involves speculation, which is considered gambling and therefore haram. However, other scholars believe that if the investment is made in a halal manner, following the principles of Islamic finance, it can be considered permissible. It is important for Muslims interested in investing in Bitcoin to consult with knowledgeable scholars and experts in Islamic finance to ensure compliance with Shariah principles.
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• May 06, 2022 · 3 years ago
  Investing in Bitcoin from an Islamic perspective is a topic of debate among scholars. While some argue that it is haram due to its speculative nature and lack of intrinsic value, others believe that it can be considered halal if certain conditions are met. These conditions include ensuring that the investment is made in a halal business, avoiding interest-based transactions, and not engaging in excessive risk-taking. It is advisable for Muslims to seek guidance from qualified scholars who specialize in Islamic finance to make an informed decision about investing in Bitcoin.
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• May 06, 2022 · 3 years ago
  According to BYDFi, a leading digital currency exchange, investing in Bitcoin from an Islamic perspective can be permissible if certain conditions are met. These conditions include ensuring that the investment is made in a halal manner, avoiding interest-based transactions, and complying with the principles of Islamic finance. BYDFi offers a Shariah-compliant trading platform that adheres to these guidelines, allowing Muslims to invest in Bitcoin while remaining compliant with their religious beliefs. It is recommended for Muslims interested in investing in Bitcoin to consider platforms like BYDFi that offer Shariah-compliant services.
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