$XRP
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Introduction
Yes, spot trading in cryptocurrencies can be permissible (halal) if conducted according to Sharia guidelines.
Here are the details:
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Definition of Spot Trading
What is spot trading?
It is the immediate buying and selling of cryptocurrencies, where the currency is delivered immediately after purchase (i.e., transferred to your wallet), without delay or borrowing.
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Reasons for the Permissibility of Spot Trading
Why is spot trading considered permissible?
Because it meets the following conditions:
1. Immediate buying and selling (hand-to-hand transaction): The currency is delivered immediately, which is a fundamental condition in financial transactions in Islam, especially when it is between two currencies.
2. No Riba (usury): It does not involve leverage or interest.
3. No Gharar (excessive uncertainty) or gambling: As long as the trader acts rationally and knowledgeably, and not randomly or as a gambler.
4. It does not rely on prohibited contracts such as derivatives or options.
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When is Spot Trading not permissible?
If it is used with leverage even if it is in the spot trading section.
If the currency itself is prohibited or questionable.
If trading occurs in a gambling manner or with excessive speculation without analysis or study.
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Conclusion:
Yes, spot trading is permissible on the condition that:
You trade with your actual funds without loans or interest.
You buy and sell legitimate cryptocurrencies.
The transaction occurs immediately without delay in delivery.
