Bitcoin Forum

One of the renowned mosque in London named The Shacklewell Lane Mosque in Hackney, has accepted bitcoin donation and announced that btc trade is Halal or permissible according to Sharia Law. I am hoping that Muslims will be interested to be involved in crypto industry after having the news. And finally it will be a great form of investment for the Muslims.

Welcome to share your thoughts

thanks a lot dear to give such information to make muslims investers well aware about trad with bitcoin in Islam..

This news came out months ago, whereas investing and trading bitcoin is considered "halal". The recent news was just about the Mosque in the UK that accepts crypto donations. I was expecting a decent breakout last month and in the past few days, unfortunately there wasn't much volume from that announcement.

https://www.telegraph.co.uk/news/2018/05/22/bitcoin-can-halal-mosque-declares-becomes-first-uk-accept-cryptocurrency/

I don't think most of muslims ever had a question if Bitcoin is Halal or not. It's just ridiculous talking about that.

I personally know plenty of muslims that trade crypto everyday....pretty information anyway

Actually many Muslims members in this forum who discuss and question whether bitcoin is halal or haram and many threads that discuss it, and when you say very ridiculous to discuss it I am a little agree with you because many Muslims in my place who trading BTC.

I think this is still ambiguous, many say bitcoin is halal but many also say bitcoin haram. maybe halal or haram is seen from where you got it.

I actually doubt that information. As much as I know, it is not permitted by Sharia to donate through bitcoins. Regardless of this, some Muslims are already investing on Bitcoin.

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completely agree with you...

i am not shore abut this qustion .because its not easy . but i read on book  writer Albert Flack  was Professor of Islamic finance and I trade currencies and cryptocurrencies.

 1   As about Bitcoin ,with the lenght of the process of the settlement, it is no more seen as a payment tool, yet, but it is seen as a warehouse of value ( an asset) , if you want like a Diamond. It is rare and people do not trade diamonds for buying a coffee. So it is a digital asset. It is not seen as a currency but it is seen like a digital gold. No problem. Gold Silver is one of the 7 islamic finance currencies, you buy it cash , you sell it cash. Bitcoin are traded cash .

 (a)   For the other currencies you may consider they are still payment tools because they have cheaper value and some like Ripple etc are indeed in the creation of a system of payment. Once again there are cash payments.

  (b) what is HARAM not authorized, is to buy more then what you can pay cash , or to sell short what you do not have. Because it enters in the notion of speculation and hazard, you may loose more then your money , or you may enter in a systemic risk. If you loose your money ok you lost it, but if you loose and can not settle debts then your problem become the problem of your lender who may also not settle his debts in a cascade of systemic problem, harming the community and the system.

   (2)What is also Halal is the notion of Property under construction : I explain. If you know that end of the month you will receive your rents, your retirement, your reimbursements, or some money lets say inheritage. you can buy in advance borrowing money now what will arrive to you later on. Let’s now exagerate and say that you have a flat and that you now you will receive the next 12 months of rent or lets say you have a field of petrole, producing 100 barrils a day, 36500 barrils a year. You can sell the petrole 36500 barrils ( why not 10 years also), and OR borrow money , for this money and invest in cryptocurrencies because you know that these future incomes or flows will arrive to you. So you can buy in advance ( with credit and not cash) the future flows that you know will arrive to you

To this day, most of the Muslim world divided over the Bitcoin, a part that is allowed to use it "Halal," and the majority prevents trading in Bitcoin" haram" each has a proven guide.
The enormous volatility in the price is still one of the most critical factors that make the Muslim sheiks issuing a fatwa forbidding the Bitcoin. Also, the Islamic governments do not appear to be interested in Bitcoin.
On the other hand, those who allow making deals with Bitcoin do not have any evidence. "Nothing prevents Bitcoin trading, that means it is allowed."

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I do not think that this debate will be completed soon unless most countries adopt Bitcoin

I can totally agree with you because in my place too, many Muslims are trading BTC and it is no doubt by anyone, so for Muslims who still doubt this, I think they need to read more from many sources who can be trusted.

I think Muslims can trade with crypto market because there is no illegal works occur in crypto market. It is a business place like stock market.

I don't see any thing bad with Muslims trading in bitcoins , if Muslims are allowed to trade in cows and sell merchandise items, then trading in bitcoins shouldn't be against the rules and regulations concerning their religion.

wow really ???? The Shacklewell Lane Mosque in Hackney is accepted bitcoin donation. what a really really cool news to hear man. people are getting smarter day by day and coming towards crypto currency eventually.

It is really a great news for the Muslims and the industry as well. I hope a huge number of Muslim religious people will be interested to involve in crypto market. 8) 8)

Muslims accepting of bitcoins in a donation is a good news for bitcoins and hope it will make more other muslims do same and help bitcoins price surge. It confirms the legitimate benefits of using bitcoins.

yes joining trade bitcoin is halal for Muslim, because it's like trading in general, the difference is the subject, if in general we can trade everything like in the Market but in here digital trading the subject is coin. The technic is similar too there are sell and buy activity. So I think it's clear for everyone.

someone tell me about trading btc is haram, but not in other coins.
nah so you can trading to others coins  ;D

Thank you very much for a such interesting news. As I am a muslim I am feeling very happy to know about this news as I love BTC Bitcoin alot. I hope the other muslim Bitcoin lovers will also be happy.