Bitcoin is not haram for zakat, stressed the mosque leader in London

[mahbuboracle]

The first bitcoin zakat service in the UK was launched on May 17, 2018 with banners on display outside the fence and near the dome of the mosque showing bitcoin logos other than the internet site.

Up to a week before Idulfitri had nine people who gave zakat in the form of bitcoin worth £ 2,000 or nearly Rp40 million, among others from Dubai, India, and Maritius.

Link info : https://www.amaliah.com/post/45929/cryptocurrencies-bitcoin-halal-or-haram-mosque-zakat-donations-masjid-ramadan

Positive bitcoin digital currency 

What about your country?

[LeGaulois]

Trading is haram as well making a profit from lending money if I am not wrong ( I say IF because I am not Muslim but it's what I found while searching long ago)
So if people are using Bitcoin (or any other crypto) and trading with it then it's haram, investing to buy Bitcoin with the hope to make a profit later is haram. Using Bitcoin as a currency to buy your daily needs, etc is not haram.

[mahbuboracle]

Trading is haram as well making a profit from lending money if I am not wrong ( I say IF because I am not Muslim but it's what I found while searching long ago)
So if people are using Bitcoin (or any other crypto) and trading with it then it's haram, investing to buy Bitcoin with the hope to make a profit later is haram. Using Bitcoin as a currency to buy your daily needs, etc is not haram.

essentially depends on each process can apply to other currencies not just on crypto coins

[dbshck]

Wow great, these guys are progressive! Using Bitcoin as a currency or asset shouldn't be a problem in Islamic law.

What about my country? I doubt something like this could ever happen in Indonesia as the government is not allowing any payment made using other than the Indonesian rupiah, and that rule isn't going to change anytime soon.

Trading is haram as well making a profit from lending money if I am not wrong ( I say IF because I am not Muslim but it's what I found while searching long ago)
So if people are using Bitcoin (or any other crypto) and trading with it then it's haram, investing to buy Bitcoin with the hope to make a profit later is haram. Using Bitcoin as a currency to buy your daily needs, etc is not haram.

That's true. Speculation and interest are prohibited in Islam.

[daarul50]

This news could wipe out the stigma of people who think bitcoin is a dangerous currency. With use as zakat payment, bitcoin can be useful for the economy of society and also useful for people in need because the actual bitcoin assumption either negative or positive it depends on the users. I really appreciate the mosque's administrators who are in London because they have dared to innovate for payment methods, especially zakat for Muslims.

[BrewMaster]

Trading is haram as well making a profit from lending money if I am not wrong ( I say IF because I am not Muslim but it's what I found while searching long ago)

no, that is wrong. there is nothing haram about trading. there are trading markets such as gold and stocks market in Islamic countries.
lending money is a different story though. what you heard is about "Usury"[1] and that is lending under certain circumstances not just any lending money. for instance Islamic banks do lend money with interest. the "haram" part is about becoming a loan shark!

[1] https://en.wikipedia.org/wiki/Usury

[mahbuboracle]

Wow great, these guys are progressive! Using Bitcoin as a currency or asset shouldn't be a problem in Islamic law.

What about my country? I doubt something like this could ever happen in Indonesia as the government is not allowing any payment made using other than the Indonesian rupiah, and that rule isn't going to change anytime soon.

Trading is haram as well making a profit from lending money if I am not wrong ( I say IF because I am not Muslim but it's what I found while searching long ago)
So if people are using Bitcoin (or any other crypto) and trading with it then it's haram, investing to buy Bitcoin with the hope to make a profit later is haram. Using Bitcoin as a currency to buy your daily needs, etc is not haram.

That's true. Speculation and interest are prohibited in Islam.

Indonesia is not legal sir
Im from indonesia, greetings moderator indonesia

[Mpamaegbu]

This, by the way, is an object of amusement for me as the Muslims tend to be shifting the goalposts on their stand with Bitcoin. I bet it's because they don't want to lose out because declaring it Haram will mean it been forbidden. Halal is all good.

[LeGaulois]

Trading is haram as well making a profit from lending money if I am not wrong ( I say IF because I am not Muslim but it's what I found while searching long ago)

no, that is wrong. there is nothing haram about trading. there are trading markets such as gold and stocks market in Islamic countries.
lending money is a different story though. what you heard is about "Usury"[1] and that is lending under certain circumstances not just any lending money. for instance Islamic banks do lend money with interest. the "haram" part is about becoming a loan shark!

[1] https://en.wikipedia.org/wiki/Usury

Sorry, but isn't any transaction based on a ""Al Ribâ"" principle prohibited in Islam and the "Ribâ al Fadhl" (sale or exchange for another of the same nature with a surplus).
and and excessive risk (bayu al-gharar)
and

Mustafa Al-Zarqa, defines gharar as "the sale of probable items whose existence or characteristics are not certain, due to the risky nature that makes the trade similar to gambling

and Etoro has some kind of Islamic account, so ? There is something that has be done by Etoro to be Sharia compliant.

[Brenok]

At the moment I live in Russia. At the state level, no crypto currency has been accepted, but people use it, so I think soon Russia will accept the use of crypto currency officially

[mahbuboracle]

I like the reason you are a friend

[Altas]

Trading is haram as well making a profit from lending money if I am not wrong ( I say IF because I am not Muslim but it's what I found while searching long ago)
So if people are using Bitcoin (or any other crypto) and trading with it then it's haram, investing to buy Bitcoin with the hope to make a profit later is haram. Using Bitcoin as a currency to buy your daily needs, etc is not haram.

I don't think trading is considered haram. Lending is considered as haram, and people need to get into some form of business which is highly appreciated and in this regard trading will also be appreciated. Bitcoin being a technology based asset doesn't doesn't make any difference from the real money as it has got its own value.

[dothebeats]

If the user or receiver of the cryptocurrency is being used to make a profit, or is hoping to make a profit out of it, I think that is the time when it will be haram, otherwise it's all good. Bitcoin is, in essence, a currency existing on the digital realm, so by definition it can be used as a form of money if the user intended it to be one. I'm not certain about Islamic laws and teachings as I only studied them for a short time but I do know that zakat can be done with goods, money etc., so yeah, I think it's okay if the receivers of the said donation don't use it in gambling or making profit.

[BrewMaster]

Trading is haram as well making a profit from lending money if I am not wrong ( I say IF because I am not Muslim but it's what I found while searching long ago)

no, that is wrong. there is nothing haram about trading. there are trading markets such as gold and stocks market in Islamic countries.
lending money is a different story though. what you heard is about "Usury"[1] and that is lending under certain circumstances not just any lending money. for instance Islamic banks do lend money with interest. the "haram" part is about becoming a loan shark!

[1] https://en.wikipedia.org/wiki/Usury

Sorry, but isn't any transaction based on a ""Al Ribâ"" principle prohibited in Islam and the "Ribâ al Fadhl" (sale or exchange for another of the same nature with a surplus).
and and excessive risk (bayu al-gharar)
and

Mustafa Al-Zarqa, defines gharar as "the sale of probable items whose existence or characteristics are not certain, due to the risky nature that makes the trade similar to gambling

and Etoro has some kind of Islamic account, so ? There is something that has be done by Etoro to be Sharia compliant.

i'm sorry i am not an expert and these things are a bit hard to explain
basically Usury is not just about any interest, so wikipedia saying "usury meant interest of any kind" is somewhat wrong. it is the unfair interest that is gained with excessive or abusive rates for instance. but the "taking interest" part on its own is not Haram nor illegal.
and as i said if it was "haram" then it wouldn't have existed in Islamic banks and on the stock market in Islamic countries.

[Cult]

Actually, why can any kind of religious institution find crypto ungodly if they don't deny regular money? So I think approval is a right position for them.

[BlackPanda]

Trading is haram as well making a profit from lending money if I am not wrong ( I say IF because I am not Muslim but it's what I found while searching long ago)
So if people are using Bitcoin (or any other crypto) and trading with it then it's haram, investing to buy Bitcoin with the hope to make a profit later is haram. Using Bitcoin as a currency to buy your daily needs, etc is not haram.

I don't think trading is considered haram. Lending is considered as haram, and people need to get into some form of business which is highly appreciated and in this regard trading will also be appreciated. Bitcoin being a technology based asset doesn't doesn't make any difference from the real money as it has got its own value.

it is a different perspective. for me it was a mistake. I live in a Muslim family and I am a Muslim. my religion teaches that when we are looking for something like money then what to ask is whether the money we get harms others? for me as long as we get money from a good way and get in a good way too then the result will be lawful. Islam teaches ease and if one can earn a good denan income then it can not be said as a haram thing.

[inthelongrun]

Trading is haram as well making a profit from lending money if I am not wrong ( I say IF because I am not Muslim but it's what I found while searching long ago)
So if people are using Bitcoin (or any other crypto) and trading with it then it's haram, investing to buy Bitcoin with the hope to make a profit later is haram. Using Bitcoin as a currency to buy your daily needs, etc is not haram.

I don't think trading is considered haram. Lending is considered as haram, and people need to get into some form of business which is highly appreciated and in this regard trading will also be appreciated. Bitcoin being a technology based asset doesn't doesn't make any difference from the real money as it has got its own value.

it is a different perspective. for me it was a mistake. I live in a Muslim family and I am a Muslim. my religion teaches that when we are looking for something like money then what to ask is whether the money we get harms others? for me as long as we get money from a good way and get in a good way too then the result will be lawful. Islam teaches ease and if one can earn a good denan income then it can not be said as a haram thing.

I agree with you. It would be funny if Muslim's are not allowed to make profit. One of my best followed trader/mentor is a Muslim and I am sure he knows what he is doing. Qatar, UAE and many Muslim countries have their stock markets and fiat money into forex so I doubt trading is haram.

[mahbuboracle]

If the user or receiver of the cryptocurrency is being used to make a profit, or is hoping to make a profit out of it, I think that is the time when it will be haram, otherwise it's all good. Bitcoin is, in essence, a currency existing on the digital realm, so by definition it can be used as a form of money if the user intended it to be one. I'm not certain about Islamic laws and teachings as I only studied them for a short time but I do know that zakat can be done with goods, money etc., so yeah, I think it's okay if the receivers of the said donation don't use it in gambling or making profit.

in essence lies in the process that can change it haram or halal.

[ladydark]

This news could make more Muslim brothers to get involved in cryptos.There had been an ongoing debate from the day bitcoin was created that whether bitcoin is halal or not due to which many muslims stayed away from bitcoin.

[inthelongrun]

This news could make more Muslim brothers to get involved in cryptos.There had been an ongoing debate from the day bitcoin was created that whether bitcoin is halal or not due to which many muslims stayed away from bitcoin.

Stop being funny here. Halal is exclusive only for Muslim foods and it doesn't involve currencies like the US dollar and crypto currencies like bitcoin. Muslims that are staying away from bitcoin because zakat is not possible are either misinformed or ignorant.