How does the concept of halal or haram apply to Bitcoin transactions?

3 answers

• Nov 28, 2021 · 3 years ago
  From an Islamic perspective, the concept of halal or haram applies to all financial transactions, including those involving Bitcoin. Islamic scholars have differing opinions on whether Bitcoin is considered halal or haram. Some argue that it is halal as long as it is used for legal purposes and complies with Islamic principles of finance. Others argue that it is haram due to its speculative nature and lack of intrinsic value. It is recommended for individuals to consult with knowledgeable Islamic scholars to determine the permissibility of Bitcoin transactions in their specific circumstances.
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• Nov 28, 2021 · 3 years ago
  In Islamic finance, the concept of halal or haram is based on the principles of Shariah law. Bitcoin transactions are seen as a form of currency exchange, and the permissibility of such transactions depends on various factors. These factors include the source of the funds used to acquire Bitcoin, the intention behind the transaction, and the potential impact on society. It is important for individuals to seek guidance from Islamic scholars who specialize in Islamic finance to ensure compliance with Shariah principles.
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• Nov 28, 2021 · 3 years ago
  BYDFi does not provide specific guidance on the permissibility of Bitcoin transactions from an Islamic perspective. However, it is important to note that BYDFi is committed to complying with all applicable laws and regulations, including those related to Islamic finance. Users who have concerns about the permissibility of Bitcoin transactions in Islamic finance should consult with knowledgeable Islamic scholars to make informed decisions.
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