📘 Lesson Seven: Does Binance offer Shariah-compliant cryptocurrency investments?
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📌 Direct answer:
Yes, Binance offers Shariah-compliant options through specific products, but the user needs to manually select the published products and verify their terms.
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🕌 Products compliant with Islamic Sharia principles:
1. Traditional Spot Trading
· Actual buying and selling of currencies (without paying or receiving interest).
· Example: Buying Bitcoin (BTC) and selling it later when the price rises.
· ⚠️ Important condition: Avoid trading with leverage (margin) as it involves interest (Riba).
2. Staking in some currencies
· There is a scholarly disagreement about it, but some scholars permitted it if:
· The yield comes from network fees (not interest).
· The currency has real utility (not for speculation only).
· Consult trusted scholars before participating.
3. Buying and selling via P2P
· Direct currency exchange between users (without an intermediary charging interest).
· Compliant with Sharia principles if done without uncertainty or deception.
4. Islamic Savings
· Binance offers interest-free savings options in some Islamic countries.
· The yield comes from legitimate investment profits (sharing in profits and losses).
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⚠️ Products to avoid (non-compliant):
· Trading with leverage (Margin Trading) → because it involves borrowing with interest (Riba).
· Lending with interest → because it clearly involves Riba.
· Derivatives (Futures) → because they involve uncertainty (ambiguity and high risk).
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🔍 How to ensure compliance?
1. Read the product terms carefully on the Binance website.
2. Consult your heart and trusted scholars (such as Shariah advisory boards).
3. Use only clear and direct products (such as Spot Trading, P2P).
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💡 Important advice:
· Contact Binance support and ask about compliant options in your country.
· Follow platform updates, as it may launch Shariah-compliant products in the future.
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🎯 Summary:
Binance provides suitable options for Muslims if used wisely and with Sharia awareness.
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#Islamic_Investment #Binance #Islamic_Sharia
Thus, we have completed the series! 🎉 Any questions? I'm here to answer. 🤝
