š 1. Asset Legitimacy & Utility
Permissible if the crypto represents something real (like a utility token backed by services, products, or actual assets).
Problematic if it's purely speculative with no intrinsic value or real-world backing.
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2. Speculation & Gambling (Maysir)
If trading resembles gamblingāexcessive speculation, leveraged bets, optionsāmany scholars consider it haram.
Modest investing/trading based on fundamentals isnāt necessarily off-limits.
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3. Interest (Riba)
Riba is forbidden in Islam.
Avoid platforms or activities that use interest, swap fees, or lending/borrowing with interest.
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4. Transparency & Fraud (Gharar)
Cryptos and platforms must be transparentānot manipulation, misleading marketing, or unverified promises.
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ā General Guidelines for āHalal-Likeā Crypto Trading
1. Choose established cryptocurrencies like Bitcoin, Ethereum, that have known use-cases.
2. Avoid high leverage, margin, and leveraged derivatives.
3. Stay within spot trading, not futures or options with interest.
4. Trade with moderate risk, avoiding over-speculation and gambling-like behavior.
5. Do your homeworkāunderstand the project, mechanism, tokens, and ensure structural soundness.
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š§ Final Word
Without specific fatwas, many Muslims decide based on these principles. But Islamic rulings can vary:
Some scholars say trading regulated, well-established cryptocurrencies by spot, is permissible if you avoid interest and speculation.
Others are more cautious, warning against crypto due to volatility, lack of intrinsic value, and regulatory uncertainty.
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š Recommendation
For clarity, consult a qualified Islamic scholar or a reputable Shariah-compliance advisory. They can provide a tailored fatwa based on your trading habits, the platforms you use, and your risk behavior.
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