Legally, some activities conducted on Binance or cryptocurrency exchanges could be illegal.
From a Sharia perspective, some activities conducted on Binance or other cryptocurrency exchanges may be haram for Muslims based on certain financial practices. Here is an assessment of some of the methods:
1. Margin Trading:
This type of trading usually involves usury (interest), where you borrow from the platform to increase the size of your trade and pay interest on the borrowed amounts. Since usury is forbidden in Islam, this type of trading is considered haram.
1. Margin Trading:
This type of trading usually involves usury (interest), where you borrow from the platform to increase the size of your trade and pay interest on the borrowed amounts. Since usury is forbidden in Islam, this type of trading is considered haram.
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
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