IN BINANCE, THE FASTER ONE WINS!
But as a Muslim, you should know this before diving into such trades...
5 Reasons Why a Financial Transaction Can Be Haram (Prohibited) in Islam:
1. Riba (Usury) ❌
Involving interest-based loans is strictly prohibited.
2. Gharar (Excessive Uncertainty) ⚠️
Contracts with unclear terms and high risk.
3. Maysir (Gambling) 🎲
Speculation or betting with uncertain outcomes.
4. Ghash (Fraud) ⚠️
Manipulating prices or hiding facts.
5. Selling What You Don’t Own 📉
Trading or selling assets without owning them.
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Examples of Prohibited Activities:
1. Leverage Trading (e.g., 50x or 100x) ⚡
Why Haram? Resembles gambling due to high uncertainty + may involve Riba (if borrowing funds).
2. Futures Contracts ⏳
Why Haram? You're selling what you don't own + involves Gharar.
3. Binary Options 🕹️
Why Haram? It’s purely betting on price movement — similar to gambling.
4. Short Selling 📉
Why Haram? You're profiting from selling what you don't own — not permissible.
5. Price Prediction Markets 📊
Why Haram? Betting on future prices = gambling.
6. Perpetual Contracts ♾️
Why Haram? High uncertainty + speculative gambling.
7. Crypto Lending with Interest (e.g., Binance Earn) 🪙➕
Why Haram? Involves Riba — fixed returns without real risk.
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Reminder for Believers:
"O you who have believed, do not consume usury, doubled and multiplied, but fear Allah that you may be successful."
[Qur'an 3:130]