What is the ruling on engaging in crypto spot trading according to Islamic principles?

3 answers

• Dec 24, 2021 · 3 years ago
  From an Islamic perspective, engaging in crypto spot trading is a controversial topic. Some scholars argue that it is permissible as long as it follows the principles of Islamic finance, such as avoiding interest-based transactions and ensuring transparency. However, other scholars consider it haram (forbidden) due to its speculative nature and lack of tangible assets. It is recommended for individuals to consult with knowledgeable scholars to make an informed decision.
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• Dec 24, 2021 · 3 years ago
  Well, according to Islamic principles, participating in crypto spot trading can be a bit tricky. Some scholars say it's okay as long as you avoid interest and shady practices. But others say it's a big no-no because it's just like gambling. So, it really depends on who you ask. It's always a good idea to consult with a knowledgeable imam or scholar to get a clear ruling.
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• Dec 24, 2021 · 3 years ago
  BYDFi, a leading digital asset exchange, believes that engaging in crypto spot trading can be permissible according to Islamic principles. They ensure that their platform follows strict guidelines to comply with Islamic finance principles, such as avoiding interest-based transactions and promoting transparency. However, it is important for individuals to seek guidance from their own religious authorities to make an informed decision about participating in crypto spot trading.
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