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Author Topic: Is Bitcoin Forbidden In Islam? Why?  (Read 1339 times)
bit-emperor
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December 09, 2017, 09:46:05 AM
 #21

Assalamualaikum my brother. Bitcon haram in islam? Nop. Bitcoin is halal depends by people who use it for. bitcoin is like a gold. the true haram is conventional bank they use interest and you know that. it prohibited in islam.
but i found this video on youtube explain about haram or halal is bitcoin here is the link https://www.youtube.com/watch?v=cHSomztOLbQ
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December 09, 2017, 01:09:29 PM
 #22

One could even go as far as saying how Bitcoin is more halal under the laws of Islam than paper currency will ever be.
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December 10, 2017, 04:11:58 AM
 #23

I never heard of this one that bitcoins are forbidden to transact in Islam. I don't see any wrong about using it but maybe Muslims might know how it's being a forbidden one or if it's just only a bluff but if ever it is really forbidden then why I see some Muslim Bitcoin enthusiast in the forum and in bitcoin community. But I don't think this statement is likely to be true.



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Lancusters
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December 10, 2017, 10:08:48 AM
 #24

I never heard of this one that bitcoins are forbidden to transact in Islam. I don't see any wrong about using it but maybe Muslims might know how it's being a forbidden one or if it's just only a bluff but if ever it is really forbidden then why I see some Muslim Bitcoin enthusiast in the forum and in bitcoin community. But I don't think this statement is likely to be true.
It seems to me that bitcoin is now more common in countries with high growth, but low income among the population. Islamic countries are very specific. Those who live in poor areas do not have access to the Internet and they have no access to banking services. Those who live in affluent areas are of little interest to low income from bitcoin. To each his own.

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December 11, 2017, 11:59:41 AM
 #25

Excuse my ignorance on the topic but you say short selling is harm, however, I don't think you mentioned what short selling is. I am not familiar with the term. Could you please explain.
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December 11, 2017, 12:00:54 PM
 #26

Excuse my ignorance on the topic but you say short selling is harm, however, I don't think you mentioned what short selling is. I am not familiar with the term. Could you please explain.


Assalamualaikum.
I want to know about my investment with bitcoin.i don't know how to describe my investment etheir it binary or what.
I give example.
I invest 0.005bitcoin.the company have 2package with is
1) 147% profit for 6week, daily profit 4.5%
2) 180% profit for 9week, daily profit 8%.

My question is...It's Halal or Haram?
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December 11, 2017, 12:01:25 PM
 #27

Excuse my ignorance on the topic but you say short selling is harm, however, I don't think you mentioned what short selling is. I am not familiar with the term. Could you please explain.


Assalamualaikum.
I want to know about my investment with bitcoin.i don't know how to describe my investment etheir it binary or what.
I give example.
I invest 0.005bitcoin.the company have 2package with is
1) 147% profit for 6week, daily profit 4.5%
2) 180% profit for 9week, daily profit 8%.

My question is...It's Halal or Haram?

Waleikum Assalaam wa Rahmatulahi wa Barikahtu Sabrina.

Thank you for your post. In regards to saying whether this scheme is halal or haram, the truth is, I do not know. You say that this website says that in 6 weeks you will have a 147% profit. The question you have to ask is, "HOW are you making the profit?" "WHERE is this profit coming from?" "WHAT METHOD is being used to make the profit?" Once you have an answer to these questions then you can figure out if it is halal or haram.

Insha'Allah within the next 2 weeks I will release the final part of the 4-part "Is Bitcoin Halal Series" and we will talk about investing insha'Allah.

Take care and Salaam
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December 11, 2017, 12:01:58 PM
 #28

Excuse my ignorance on the topic but you say short selling is harm, however, I don't think you mentioned what short selling is. I am not familiar with the term. Could you please explain.


Assalamualaikum.
I want to know about my investment with bitcoin.i don't know how to describe my investment etheir it binary or what.
I give example.
I invest 0.005bitcoin.the company have 2package with is
1) 147% profit for 6week, daily profit 4.5%
2) 180% profit for 9week, daily profit 8%.

My question is...It's Halal or Haram?

Waleikum Assalaam wa Rahmatulahi wa Barikahtu Sabrina.

Thank you for your post. In regards to saying whether this scheme is halal or haram, the truth is, I do not know. You say that this website says that in 6 weeks you will have a 147% profit. The question you have to ask is, "HOW are you making the profit?" "WHERE is this profit coming from?" "WHAT METHOD is being used to make the profit?" Once you have an answer to these questions then you can figure out if it is halal or haram.

Insha'Allah within the next 2 weeks I will release the final part of the 4-part "Is Bitcoin Halal Series" and we will talk about investing insha'Allah.

Take care and Salaam

salam alaykum how are you brother? i wanted to find out if bitcoin is halal, 1 of my relatives traded with it,.. im not sure if its the same but its you put a certain amount of money and after a month that money doubles.. is it halal? buying money with money..please explain to me.. JazakaAllah

Allah bless you
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December 11, 2017, 12:02:39 PM
 #29

Excuse my ignorance on the topic but you say short selling is harm, however, I don't think you mentioned what short selling is. I am not familiar with the term. Could you please explain.


Assalamualaikum.
I want to know about my investment with bitcoin.i don't know how to describe my investment etheir it binary or what.
I give example.
I invest 0.005bitcoin.the company have 2package with is
1) 147% profit for 6week, daily profit 4.5%
2) 180% profit for 9week, daily profit 8%.

My question is...It's Halal or Haram?

Waleikum Assalaam wa Rahmatulahi wa Barikahtu Sabrina.

Thank you for your post. In regards to saying whether this scheme is halal or haram, the truth is, I do not know. You say that this website says that in 6 weeks you will have a 147% profit. The question you have to ask is, "HOW are you making the profit?" "WHERE is this profit coming from?" "WHAT METHOD is being used to make the profit?" Once you have an answer to these questions then you can figure out if it is halal or haram.

Insha'Allah within the next 2 weeks I will release the final part of the 4-part "Is Bitcoin Halal Series" and we will talk about investing insha'Allah.

Take care and Salaam

salam alaykum how are you brother? i wanted to find out if bitcoin is halal, 1 of my relatives traded with it,.. im not sure if its the same but its you put a certain amount of money and after a month that money doubles.. is it halal? buying money with money..please explain to me.. JazakaAllah

Allah bless you

Waleikum Assalaam wa Rahmatulahi wa Barikahtu,

I truly cannot say if what your relative did is permissible or not according to the sharia because there is not enough information provided. I do not know what he was trading or how it was traded so I cannot say. In regards to if Bitcoin is halal, Please see the following blog post - http://www.islamandbitcoin....

May Allah guide us all akhi, Ameen.
JazakAllah kheir for the support.
Salaam
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December 11, 2017, 12:03:03 PM
 #30

Excuse my ignorance on the topic but you say short selling is harm, however, I don't think you mentioned what short selling is. I am not familiar with the term. Could you please explain.


Assalamualaikum.
I want to know about my investment with bitcoin.i don't know how to describe my investment etheir it binary or what.
I give example.
I invest 0.005bitcoin.the company have 2package with is
1) 147% profit for 6week, daily profit 4.5%
2) 180% profit for 9week, daily profit 8%.

My question is...It's Halal or Haram?

Waleikum Assalaam wa Rahmatulahi wa Barikahtu Sabrina.

Thank you for your post. In regards to saying whether this scheme is halal or haram, the truth is, I do not know. You say that this website says that in 6 weeks you will have a 147% profit. The question you have to ask is, "HOW are you making the profit?" "WHERE is this profit coming from?" "WHAT METHOD is being used to make the profit?" Once you have an answer to these questions then you can figure out if it is halal or haram.

Insha'Allah within the next 2 weeks I will release the final part of the 4-part "Is Bitcoin Halal Series" and we will talk about investing insha'Allah.

Take care and Salaam

salam alaykum how are you brother? i wanted to find out if bitcoin is halal, 1 of my relatives traded with it,.. im not sure if its the same but its you put a certain amount of money and after a month that money doubles.. is it halal? buying money with money..please explain to me.. JazakaAllah

Allah bless you

Waleikum Assalaam wa Rahmatulahi wa Barikahtu,

I truly cannot say if what your relative did is permissible or not according to the sharia because there is not enough information provided. I do not know what he was trading or how it was traded so I cannot say. In regards to if Bitcoin is halal, Please see the following blog post - http://www.islamandbitcoin....

May Allah guide us all akhi, Ameen.
JazakAllah kheir for the support.
Salaam

Assalaam Alaik,

Jazak Allah Khair.. I'm enriched. I had been following this series right from the first post.
Even though you didn't explicitly stated that bitcoin is Halal, I think since at least it is not Haram,
can we regard it then as permissible. Like Al-Mubah?

Thanks a lot.
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December 11, 2017, 12:03:38 PM
 #31

Excuse my ignorance on the topic but you say short selling is harm, however, I don't think you mentioned what short selling is. I am not familiar with the term. Could you please explain.


Assalamualaikum.
I want to know about my investment with bitcoin.i don't know how to describe my investment etheir it binary or what.
I give example.
I invest 0.005bitcoin.the company have 2package with is
1) 147% profit for 6week, daily profit 4.5%
2) 180% profit for 9week, daily profit 8%.

My question is...It's Halal or Haram?

Waleikum Assalaam wa Rahmatulahi wa Barikahtu Sabrina.

Thank you for your post. In regards to saying whether this scheme is halal or haram, the truth is, I do not know. You say that this website says that in 6 weeks you will have a 147% profit. The question you have to ask is, "HOW are you making the profit?" "WHERE is this profit coming from?" "WHAT METHOD is being used to make the profit?" Once you have an answer to these questions then you can figure out if it is halal or haram.

Insha'Allah within the next 2 weeks I will release the final part of the 4-part "Is Bitcoin Halal Series" and we will talk about investing insha'Allah.

Take care and Salaam

salam alaykum how are you brother? i wanted to find out if bitcoin is halal, 1 of my relatives traded with it,.. im not sure if its the same but its you put a certain amount of money and after a month that money doubles.. is it halal? buying money with money..please explain to me.. JazakaAllah

Allah bless you

Waleikum Assalaam wa Rahmatulahi wa Barikahtu,

I truly cannot say if what your relative did is permissible or not according to the sharia because there is not enough information provided. I do not know what he was trading or how it was traded so I cannot say. In regards to if Bitcoin is halal, Please see the following blog post - http://www.islamandbitcoin....

May Allah guide us all akhi, Ameen.
JazakAllah kheir for the support.
Salaam

Assalaam Alaik,

Jazak Allah Khair.. I'm enriched. I had been following this series right from the first post.
Even though you didn't explicitly stated that bitcoin is Halal, I think since at least it is not Haram,
can we regard it then as permissible. Like Al-Mubah?

Thanks a lot.

Waleikum Assalaam wa Rahmatulahi wa Barikahtu,

JazakAllah kheir for the support. I would say that at this time it does seem that Bitcoin falls into the category of mubah, which is commonly referred to as neutral. However, even with that being said, when using Bitcoin you do have to pay attention to the laws of the land where you live. If it is illegal in one's country, then the scholars will tell them it is not permissible to use but if it is legal where they live then they would say to proceed with caution.

Salaam
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December 11, 2017, 12:04:07 PM
 #32

Excuse my ignorance on the topic but you say short selling is harm, however, I don't think you mentioned what short selling is. I am not familiar with the term. Could you please explain.


Assalamualaikum.
I want to know about my investment with bitcoin.i don't know how to describe my investment etheir it binary or what.
I give example.
I invest 0.005bitcoin.the company have 2package with is
1) 147% profit for 6week, daily profit 4.5%
2) 180% profit for 9week, daily profit 8%.

My question is...It's Halal or Haram?

Waleikum Assalaam wa Rahmatulahi wa Barikahtu Sabrina.

Thank you for your post. In regards to saying whether this scheme is halal or haram, the truth is, I do not know. You say that this website says that in 6 weeks you will have a 147% profit. The question you have to ask is, "HOW are you making the profit?" "WHERE is this profit coming from?" "WHAT METHOD is being used to make the profit?" Once you have an answer to these questions then you can figure out if it is halal or haram.

Insha'Allah within the next 2 weeks I will release the final part of the 4-part "Is Bitcoin Halal Series" and we will talk about investing insha'Allah.

Take care and Salaam

salam alaykum how are you brother? i wanted to find out if bitcoin is halal, 1 of my relatives traded with it,.. im not sure if its the same but its you put a certain amount of money and after a month that money doubles.. is it halal? buying money with money..please explain to me.. JazakaAllah

Allah bless you

Waleikum Assalaam wa Rahmatulahi wa Barikahtu,

I truly cannot say if what your relative did is permissible or not according to the sharia because there is not enough information provided. I do not know what he was trading or how it was traded so I cannot say. In regards to if Bitcoin is halal, Please see the following blog post - http://www.islamandbitcoin....

May Allah guide us all akhi, Ameen.
JazakAllah kheir for the support.
Salaam

Assalaam Alaik,

Jazak Allah Khair.. I'm enriched. I had been following this series right from the first post.
Even though you didn't explicitly stated that bitcoin is Halal, I think since at least it is not Haram,
can we regard it then as permissible. Like Al-Mubah?

Thanks a lot.

Waleikum Assalaam wa Rahmatulahi wa Barikahtu,

JazakAllah kheir for the support. I would say that at this time it does seem that Bitcoin falls into the category of mubah, which is commonly referred to as neutral. However, even with that being said, when using Bitcoin you do have to pay attention to the laws of the land where you live. If it is illegal in one's country, then the scholars will tell them it is not permissible to use but if it is legal where they live then they would say to proceed with caution.

Salaam

Thanks for the reply.. I'm eagerly waiting for the remaining series.
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December 11, 2017, 12:04:45 PM
 #33

Excuse my ignorance on the topic but you say short selling is harm, however, I don't think you mentioned what short selling is. I am not familiar with the term. Could you please explain.


Assalamualaikum.
I want to know about my investment with bitcoin.i don't know how to describe my investment etheir it binary or what.
I give example.
I invest 0.005bitcoin.the company have 2package with is
1) 147% profit for 6week, daily profit 4.5%
2) 180% profit for 9week, daily profit 8%.

My question is...It's Halal or Haram?

Waleikum Assalaam wa Rahmatulahi wa Barikahtu Sabrina.

Thank you for your post. In regards to saying whether this scheme is halal or haram, the truth is, I do not know. You say that this website says that in 6 weeks you will have a 147% profit. The question you have to ask is, "HOW are you making the profit?" "WHERE is this profit coming from?" "WHAT METHOD is being used to make the profit?" Once you have an answer to these questions then you can figure out if it is halal or haram.

Insha'Allah within the next 2 weeks I will release the final part of the 4-part "Is Bitcoin Halal Series" and we will talk about investing insha'Allah.

Take care and Salaam

salam alaykum how are you brother? i wanted to find out if bitcoin is halal, 1 of my relatives traded with it,.. im not sure if its the same but its you put a certain amount of money and after a month that money doubles.. is it halal? buying money with money..please explain to me.. JazakaAllah

Allah bless you

Waleikum Assalaam wa Rahmatulahi wa Barikahtu,

I truly cannot say if what your relative did is permissible or not according to the sharia because there is not enough information provided. I do not know what he was trading or how it was traded so I cannot say. In regards to if Bitcoin is halal, Please see the following blog post - http://www.islamandbitcoin....

May Allah guide us all akhi, Ameen.
JazakAllah kheir for the support.
Salaam

Assalaam Alaik,

Jazak Allah Khair.. I'm enriched. I had been following this series right from the first post.
Even though you didn't explicitly stated that bitcoin is Halal, I think since at least it is not Haram,
can we regard it then as permissible. Like Al-Mubah?

Thanks a lot.

Waleikum Assalaam wa Rahmatulahi wa Barikahtu,

JazakAllah kheir for the support. I would say that at this time it does seem that Bitcoin falls into the category of mubah, which is commonly referred to as neutral. However, even with that being said, when using Bitcoin you do have to pay attention to the laws of the land where you live. If it is illegal in one's country, then the scholars will tell them it is not permissible to use but if it is legal where they live then they would say to proceed with caution.

Salaam

Thanks for the reply.. I'm eagerly waiting for the remaining series.

Alhumdulilah... I should be releasing the 3rd blog post on Bitcoin mining soon isna'Allah.

Be well akhi.
Salaam
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December 11, 2017, 01:05:34 PM
 #34

For me bitcoin is halal but the question is what are your ways to earn bitcoin? As long as it's not from lending or gambling bitcoin is not prohibited on islam.

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December 11, 2017, 02:59:56 PM
 #35

Last week, the head of the Religious Affairs Department of Turkey made a statement that bitcoin is not permissible. But he did not say its halal or haram. He said that bitcoin is speculative and it was used for dark money laundering.

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December 11, 2017, 05:15:21 PM
 #36

As far as I know, only lending or borrowing money for interest is strictly forbidden in Islam. But bitcoin is not used for this purpose till now. We know that bitcoin changes it's valued very quickly but this is can't bring interest for anybody. So we can say that bitcoin is safe or halal at this stage.
Again, many people use bitcoin or any online currency for buying weapons or bring drugs from one place to another. Undoubtedly it is called haram at Islamic law but we can't call Criminals currency what is used by criminals.

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December 11, 2017, 05:22:01 PM
 #37

Fiat currencies are also used in money laundering, that doesn't means they are haram in Islam. Islam is really misunderstood, a business is haram if there is no loss in it i.e (Interest on something).
According to those claims, everything will be haram (The gold, the land you buy).

I personally don't think its haram or forbidden.

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December 11, 2017, 06:04:29 PM
 #38

Assim al-Hakeem, a Saudi minister has announced that cryptographic forms of money are entirely disallowed under Islamic law. This is on account of they are both vague and give namelessness to crooks. He made this declaration on Ask Zaad, as Bitcoin costs shot above $12,000 for the first run through.

This decision comes after the best religious body in Turkey likewise expressed that Bitcoins were contradictory with Islam in light of the fact that the estimation of them is 'available to theory' and can be utilized as a part of 'illicit activiies'.

A great deal of this is a direct result of the Bitcoin action on darknet commercial centers, where they trust that clients are utilizing the cash in return for medications and weapons, which has raised various diverse doubts about the virtual cash.

In only one year, the estimation of Bitcoin has raised fundamentally from only $1000 toward the begin of the year, to more than $12,000 now. This sensational ascent has isolated the monetary group, with many trusting that the money may soon come smashing down once more.

Bitcoin was made about 10 years back, to fill in as an other option to government provided monetary forms. Exchanges including Bitcoin can consider finish obscurity, which has made it unbelievably prevalent among the individuals who wish to keep their money related action and their personality private.

Bitcoin digger work PC ranches, where they can check client's exchanges by settling complex scientific riddles. These mineworkers are paid in Bitcoin, which would then be able to be changed over into a conventional cash.

The utilization of digital forms of money have changed as of late. While at first they were utilized as a technique for installment, all the more as of late they have turned into an extremely prevalent venture opportunity.

I do not think so that this crypto currency has something to do with Islam, usually our religious clerks are in great haste to declare new things as HARAM, when train first time started they stated as against Islam, similarly use of loudspeaker was also controversial to them (although they use it now bluntly)
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December 11, 2017, 08:03:05 PM
 #39

Crypto currency gives a person freedom. Any religion will reject it.
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December 12, 2017, 01:55:11 PM
 #40

that's an unreasonable statement. if you think like that means all currencies are the same for illicit activities. if I think halal and whether bitcoin is seen from using it, for example me, I use bitcoin to add my family generation and I get bitcoin by working with bounty dialtcoin so i feel my bitcoin activity is halal because i do positiv

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