Walaikumussalam
Buying crypto currency or bitcoin is not halal, because it is a fake currency and it is a also like forex currency trading . See the ruling of Mufti Taqui Usmani sb. For detail, 👇
Forex Currency Trading
By Mufti Muhammad Taqi Usmani
POSTED: 11 ZUL QA'DAH 1424, 22 NOVEMBER 2007
Q.) Is Forex Currency Trading halal? I have attached a document detailing the aspects of the business.
A.) I went throught the papers sent by you. I am of the opinion that these transactions are not compliant with Shariah. The very condition that you cannot take delivery of the purchased currency makes it impermissible. Morever, there are other elements according to my knowledge that makes this trade unlawful in Shariah, such as, forward sales, short sales etc. This is in addition to the fact that the currencies are originally a medium of exchange and should only be exchanged for personal use in different countries. To make them a tradable commodity only for earning a profit is also against the basic philosophy of Islamic economics. I would therefore not advise you to indulge in this trade.
Some muslim scolars tend to say it's haram. but they are totally wrong. actually they don't understand the technology. bitcoin is just a digital format currency, an alternative of paper based money. so, there's nothing wrong with using it. and, we can easily buy bitcoins from Coindesk and also can withdraw bitcoin to paypal or even in bitcoin to western union
ReplyDeleteSo, don't hesitate about this modern day technology.