Binance How to invest it in the correct and permissible way in Islam To invest a small amount such as $7 in the Binance platform in a correct way that is in accordance with Islamic law, and in compliance with Sharia controls. Here are some tips:
1. Avoid leveraged trading
Leverage trading has legal doubts due to the interest and debt involved
Invest only with what you own without borrowing
2. Choose halal cryptocurrencies
Make sure that the cryptocurrency you want to invest in is used in projects that have a legitimate interest and is not related to forbidden practices (such as gambling or usury)
Currencies that are often considered legitimate include: Bitcoin ($BTC ), Ethereum ($ETH ), but always check the legitimacy of the currency carefully
3. Use only a Spot account
A Spot account means that you buy the currency and own it entirely, which is the closest to legitimacy in trading
4. Trade with small amounts and monitor fees
With small capital, fees can greatly affect profits, so choose currencies with low trading fees
5. Invest in stablecoins
You can invest in stablecoins such as #USDT Or #BUSD and keep your money as a temporary reserve until a suitable trading opportunity arises
6. Learning and monitoring
Do not rush into investing. Spend time learning about trading and avoid random speculation
7. First and last, you should seek guidance from God before starting any investment.