Is staking Halal or Haram In Islam ?

slaman29

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Quote from: noorman0 on August 30, 2021, 08:29:25 AM

Actually there has been a similar thread. https://bitcointalksearch.org/topic/staking-is-not-for-muslims-5324612
Staking has many purposes both in technical (built-in support for native coins, PoS based mining), liquidity (usually on defi tokens and memes), and more. It just depends on what the coin itself or other companies offer. This difference in objectives will usually produce varied views in terms of religious law.
Of course you can't draw any conclusions and use them as a basis for decisions except it's based on an agreement on religious law recognized by competent experts (valid sources are needed).

And as I pointed out above, which most Muslims very conveniently ignore, is the intent. Everything in Islam is about intent and generally, when you are wondering or having an issue about halal/haram (permitted and forbidden), it all boils down to intent (niyat).

And if you are truly religious then only you know your true intent.

Chato1977

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Quote from: zeebar on September 02, 2021, 12:04:02 AM

Staking is not Haram as you put money into securing the network and validation transactions on the network. That's what staking is. You get a percentage of your share of what ever you put in to securing or validating transactions on the network. It's kind of like opening a ice cream shop, you only pay maybe 10 cents for a cone but charge the customer 50 cents. 10 cents being your investment and 40 cents is you securing a future for your business. You money is doing passive work for the network.

well this is a religious topic and maybe different views from different religion , but personally i don't think that this is something that bad because you are not gambling your funds instead you are letting money inside and making profits because of that matter.

zeebar

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Staking is not Haram as you put money into securing the network and validation transactions on the network. That's what staking is. You get a percentage of your share of what ever you put in to securing or validating transactions on the network. It's kind of like opening a ice cream shop, you only pay maybe 10 cents for a cone but charge the customer 50 cents. 10 cents being your investment and 40 cents is you securing a future for your business. You money is doing passive work for the network.

Bagong91

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Quote from: UmerIdrees on August 28, 2021, 02:45:30 PM

I was looking at different aspects of staking and wondering if its Halal Or Haram in Islam as staking is similar to Interest.

Some people think staking is like mining , so if staking is not permissible then mining should also be non-permissible.

Some people say that Staking at exchanges like binance is Haram, as they offer fixed returns but staking on pancakeswap is allowed in religion as the returns are not fixed Huh

Some say that Staking is not Halal overall, because in every kind of staking the quantity of coins get increased (interest is based upon quantity and not price), so if the price of coin (e.g Cake) goes up or down, it does not matter as the quantity of coin is increasing at fixed rate.

Its a debatable topic and hope someone gives a better advice.

the issue of haram and halal is very sensitive, maybe we are not experts in the field of religion, we only see from our point of view whether it is haram or halal, as far as I know, halal and haram decisions must follow the instructions of religious leaders in their respective countries

RBLT

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Quote from: Rigon on August 28, 2021, 06:00:05 PM

In the eyes of Islam, it is haraam to increase your wealth without any effort. As I can say for example you put some money to a man and from that money If you are given more money then it is completely haram. I mean, as you put some money at interest, the money that you get in addition to your honor is completely haram. In that proportion Since you will be stacking then I would say that it is haram in the eyes of Islam if your capital is increasing through stacking.

Yes, this is already explain everything. In my country, atleast, Bitcoin itself is haraam (well, some say haraam and some say it's not). There are some articles that says :
"Bitcoin is Mubah (legally permissible) as a medium of exchange for those who are willing to use it and acknowledge it. However, Bitcoin as a legal investment is haram because it is only a means of speculation, not for investment, only a tool for playing profit and loss, opening a profitable business."

So, if you use Bitcoin just for a medium for exchange, that's okay.

worle1bm

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Quote from: UmerIdrees on August 28, 2021, 02:45:30 PM

I was looking at different aspects of staking and wondering if its Halal Or Haram in Islam as staking is similar to Interest.

Some people think staking is like mining , so if staking is not permissible then mining should also be non-permissible.

Some people say that Staking at exchanges like binance is Haram, as they offer fixed returns but staking on pancakeswap is allowed in religion as the returns are not fixed Huh

Some say that Staking is not Halal overall, because in every kind of staking the quantity of coins get increased (interest is based upon quantity and not price), so if the price of coin (e.g Cake) goes up or down, it does not matter as the quantity of coin is increasing at fixed rate.

Its a debatable topic and hope someone gives a better advice.

I think we have similar article like this before on the forum and same thing was discussed on it but i am not finding it.But according to Islamic norms gambling is an offense like betting or indulging in some illegal activities.But staking is like an investment not pure gambling as your stake your coins and funds to gain interested but it's not under haram according to me but if you are making something to increase your wealth not an improper manner then it's completely fine but don't know much about them in depth.

Malam90

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You are right. Any fixed % either from stake or from lend isn't allowed in the eye of Islam. Hence Binance and other CEXs are offering fixed % of rewards in the name of staking. On the other hand, DEXs like Pancakeswap doesn't offer fixed any % of rewards. The rewards depends on the amount of participants and also prevailing market price of the tokens. So, i don't find any problem here. Many Islamic Scholars said crypto is haram because there is no central authority of crypto. But at least we have to work without cheating others, fixed % of rewards after a specific time end.

jack wira

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This is a very interesting topic for us to discuss, there are many good opinions that are haram, not even haram here, bro, but in my opinion this only depends on our personal knowledge, because in terms of the crypto world and halal and haram stocks, it contains The meaning is very broad, bro, so it just depends on where the position is.
However, the name of betting is still forbidden in Islam, bro, because betting in the common language (Islam) is not far from gambling.

7788bitcoin

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Quote from: Swordsoffreedom on August 30, 2021, 03:39:43 PM

I think it would be better if you contact with an Islamic Scholar like Dr. Zakir Naik.
Islam will not run on your or my opinion. And it is not reasonable to comment on something without a clear idea. You know, In Islam, it is customary to issue a fatwa when an uncommon subject has appeared. Only Islamic scholars have the right to issue Islamic fatwas on any new subject. You should seek refuge in an Islamic scholar without arguing over any sensitive religious issues.

How can a scholar interpret these things, it is a bunch of bullshit as far as i see. If you are strictly following the book i am not going to comment on that, other than that it is completely bullshit so that a scholar would come out with an interpretation. I have seen Zakir Naik videos and he comes out like a scholar with intelligence but majority of what he says is having factual errors especially when he talks about science Cheesy

.

kokrokok

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everyone will have a different view of staking and in my opinion staking may be close to RIBA or it can be said to be RIBA but subtly
as RIBA maybe you already know how the law is, now back to each other.

Swordsoffreedom

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I think it would be better if you contact with an Islamic Scholar like Dr. Zakir Naik.
Islam will not run on your or my opinion. And it is not reasonable to comment on something without a clear idea. You know, In Islam, it is customary to issue a fatwa when an uncommon subject has appeared. Only Islamic scholars have the right to issue Islamic fatwas on any new subject. You should seek refuge in an Islamic scholar without arguing over any sensitive religious issues.

Vaskiy

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Things have been changing all around. Getting interest out of anything is against the law. This practice is followed in most of the Muslim countries in the past. Now things have changed, and I'm not sure whether it is against law or an agreed process. Earlier when I was in a muslim country I have never got any interest for the amount that's been saved on my bank account. Likewise there is no interest on the loans, but now everything has changed.

virasog

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Quote from: UmerIdrees on August 28, 2021, 02:45:30 PM

I was looking at different aspects of staking and wondering if its Halal Or Haram in Islam as staking is similar to Interest.

Some people think staking is like mining , so if staking is not permissible then mining should also be non-permissible.

Some people say that Staking at exchanges like binance is Haram, as they offer fixed returns but staking on pancakeswap is allowed in religion as the returns are not fixed Huh

Some say that Staking is not Halal overall, because in every kind of staking the quantity of coins get increased (interest is based upon quantity and not price), so if the price of coin (e.g Cake) goes up or down, it does not matter as the quantity of coin is increasing at fixed rate.

Its a debatable topic and hope someone gives a better advice.

As from the comments from many people here, i think it is difficult to come to a singe conclusion as everyone has their own point of view.

I would suggest that if it is related to religion then you should take this matter to the religious scholars as they have more knowledge about religious matters, they will be in the best position to analysis and tell you the most appropriate solution for this.

avarnet

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Crypto staking is an activity where a user of crypto assets can gain money only by validating transactions or all activities that occur on the blockchain system. what is meant, in the name of betting globally in Islam is not allowed, especially like gambling bets, but in the crypto world I still don't understand but we will study it carefully later

Jilapikhamu

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staking haram because When we stake any coin or token they return us Fixed amount of token, but Islam said you give money, but not receive same thing when take profit like you give a man 100$ for business and the man return you every month 5$ this is haram when he return you rise or oil this is halal

m.rifki

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Regarding whether it is haram or not, it is better for you to ask religious leaders in your environment who have knowledge of staking and crypto, it will be clearer, I personally don't really understand whether it is haram or not, only if it is at stake and the income you get from pure staking of an interest without you doing anything I think that it is haram, again you better ask people who are more familiar with Islamic law.

glendall

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Crypto polemics are generally due to their form. Even though it's clear the name is also digital, and not to be held. But don't get me wrong, crypto doesn't just exist in the air. Indeed, it exists in the form of digital codes. And it can even be stored or moved from one place to another. This indicates that it actually exists in digital form.
so for me betting on crypto is not HARAM because here we bet a fixed amount but the price changes according to the market so it looks like we are gambling, even though we store crypto assets in digital wallets so that they are considered "worthy" and "legitimate" to get the right money. meant.

noorman0

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[Nope]No hype delivers more than hope

Actually there has been a similar thread. https://bitcointalksearch.org/topic/staking-is-not-for-muslims-5324612
Staking has many purposes both in technical (built-in support for native coins, PoS based mining), liquidity (usually on defi tokens and memes), and more. It just depends on what the coin itself or other companies offer. This difference in objectives will usually produce varied views in terms of religious law.
Of course you can't draw any conclusions and use them as a basis for decisions except it's based on an agreement on religious law recognized by competent experts (valid sources are needed).

haleema

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I think so its not haram, what is haram "a fixed profit coming on your investment. staking is fixed profit on your Crypto assets but your asset price fluctuating daily.
Its just like, you give your house on rent and take rent monthly, and your house value is $10000, after one year its $20000.
Mining is a separate project, do not compare with staking. Bitcoin Mining is just like a factory of gold mining.

Thanks You

andriarto

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Quote from: ?? on ??

Quote from: Tumanggor on August 29, 2021, 09:35:27 AM

I'm not sure if this topic is suitable for discussion in the "bitcoin discussion" section

Quote from: UmerIdrees on August 28, 2021, 02:45:30 PM

~

in general Haram is an activity that is prohibited by religion (God) and staking is almost like a bank deposit
My country has quite an influential and large Islamic organization, they explicitly say Bitcoin and cryptocurrencies are "Haram" including all kinds of activities in it

If interest rate is to be considered as haram then staking also haram. Tho I can see some Islamic countries try to be more moderate as they allow people to have banking accounts so maybe staking could fall under the grey zone there.

I think there will be many opinions when discussed. My advice is to ask ourselves whether it is halal or haram. if we feel uncomfortable with staking then leave, because it is not in accordance with your conscience, and vice versa. I think things like this are between Islamic banks and conventional banks, if I personally say the difference is only in the packaging of the words

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