The Islamic community views bitcoin and cryptocurrency at large differently, there are people that see it as haram since it doesn’t have any intrinsic value. Also the high volatility aspect of bitcoin which could lead to speculation is also another factor that makes some Ulama see it as haram.
Some Scholars are of different opinions that since it is something that can be use to purchase goods or services and if it is used for such purposes only then there’s nothing wrong with it. The belief is that if it is not hoard pr hold to increase in price then it is proclaimed Hala
Topic: There is lot's of confusion in people about whether it's allowed to invest or no - page 2. (Read 243 times)
April 01, 2023, 01:37:51 PM
April 01, 2023, 01:28:21 PM
I am not particularly educated about the rules of Islam as I am not a Muslim myself but if I do remember (and correct me if I'm wrong) you guys are strictly prohibited from gambling, illegal profiteering, and imposing interest rates upon purchases. With all that being said I do think bitcoin is able to at least avoid all those pointers and is thus allowable in the Muslim culture, but I respect oldies who think it should be haram (am I using the word right?) as then again, I am not a Muslim.
But all in all, it is up to you to decide. I've had a few Muslim friends who invested in assets and in particular, bitcoin, they say it's not prohibited per se, so they are good to go.
But all in all, it is up to you to decide. I've had a few Muslim friends who invested in assets and in particular, bitcoin, they say it's not prohibited per se, so they are good to go.
April 01, 2023, 01:05:43 PM
I know because of shariah, the bank which does interest is one to them according to their belief, though I didn't see bitcoin as an investment process that will give them that but many people have their opinion to either invest because of this or not
April 01, 2023, 12:57:33 PM
In Islamic banking is progressing repidly in some country and people's wants to be invested according to shariah. Now what is best openion about this seriouse situation
As far as I know, Shariah prohibits interest (riba), gambling (maysir), and investing in unethical businesses (haram). Bitcoin is neither of those things. But let me ask you, why should the Bitcoin community care about that?
Everyone has the right to their own religious beliefs and practices, and it's important to respect and accommodate those beliefs. But it has nothing to do with Bitcoin. It's up to each individual to decide what investments align with their own beliefs and values.
April 01, 2023, 12:27:57 PM
In Islamic banking is progressing repidly in some country and people's wants to be invested according to shariah. Now what is best openion about this seriouse situation
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