May Bitcoin be considered money according to Islam?

[ansarose1]

An interesting question is whether Bitcoin is money according to Islam.

[hugeblack]

In general, Islam does not recognize any currency that is not covered by gold, silver, and other assets.
Based on the above definition, all current currencies are not considered as money according to Islamic Sharia.
Muslim scholars in the current era added an exception to the currencies not covered by gold provided that there is a hand issued and guaranteed value such as the Central Bank.
Therefore, most Muslim scholars do not recognize bitcoin but may change in the future.

[jane05]

An interesting question is whether Bitcoin is money according to Islam.

No it doesn't, Bitcoin is not money which it is a cryptocurrency means that a digital currency in which encryption techniques to generate money.

[koki123]

I do not know, I just know This is a kind of money created by a person or organization named Satoshi Nakamoto in 2008.

[BlackRogue]

Anything which is earned by gambling or by the method of acquiring interest, is not acceptable in Islam. BTC are mined, i.e. people do work hard in it, and they pour money on it and get the work done. It does not defy the law in Islam so far, so it should not be haram.

[maloibtc]

I don't think that it does matter which religion you have. I have never heard that dollar has been mentioned in the Islamic religion as well. It is business and financial side has nothing to do with religion

[mahibul49]

i have no idea about this but i can say bitcoin is not money but a digital currency and its like asset and it is halal in islamic law.

[daarul50]

An interesting question is whether Bitcoin is money according to Islam.

Some Islamic scholars do not recognize bitcoin as a currency because one of the conditions that must be met as a currency is that it has a physical form while bitcoin does not meet these requirements. However, basically, bitcoin is created not as a currency but as a digital product that has value. Why is bitcoin now widely regarded as currency? The answer is because bitcoin starts switching functions and is used as goods for trading or investment.

[teamspike911]

Ahahahaha
Unusual question ... indeed, there is something to think about HD
However, I unfortunately do not know much about Islam ... so I'll help you with the solution of this question ...
However, for the question, thanks, really something new)

[buternasek]

An interesting question is whether Bitcoin is money according to Islam.

Some Islamic scholars do not recognize bitcoin as a currency because one of the conditions that must be met as a currency is that it has a physical form while bitcoin does not meet these requirements. However, basically, bitcoin is created not as a currency but as a digital product that has value. Why is bitcoin now widely regarded as currency? The answer is because bitcoin starts switching functions and is used as goods for trading or investment.

I am a Muslim, and I have asked people who understand Islam more than I, I ask about bitcoin whether it is halal or not if it is used?
he said that halal bitcoin, and meet the requirements of Islamic Shari'a, so for you who are Muslim. do not hesitate because halal bitcoin is used for you.
assalamualaikum 

[kr105]

According to Islam, bitcoin is still controversial, while some Islamic countries accept bitcoin trade, while in many countries it isn't clear. I think no problem because there are still discussions about Bitcoin all over the world.

[oriontab]

An interesting question is whether Bitcoin is money according to Islam.

Is it really more of a religious significance since it is some unique to the present age of human development?Anything that can used as a means of payment is money

[CrashGangster]

According to Islamic scholars and Hadiths, the currency you are using should have the feature to be backed by any asset like gold, silver, diamond etc. In this case, Bitcoin is not backed by any of the assets neither it has a physical form which makes it unacceptable as a currency in Islam.

[yecats]

Hi, here's a related  article tackles about Is Bitcoin Haram or Halal for Muslim's and If they consinder cyrptocurriens as Money. Hope  it will help.
https://www.google.com/amp/s/cointelegraph.com/news/is-bitcoin-halal-how-cryptocurrency-conforms-with-islam-and-sharia/amp#ampshare=https://cointelegraph.com/news/is-bitcoin-halal-how-cryptocurrency-conforms-with-islam-and-sharia

[Spown]

Islamic scholars are believe that bitcoin is not meaning of money because it is not covered by gold or silver. I think here are more different opinion.

[taliwang]

The true bitcoin is the currency. There are also Muslims who allow and there are also those who do not allow for their own reasons.

[symmakess]

There is a different opinion about whether Bitcoin money is in the eyes of Islam. Islamic scholars believe that this is not the meaning because it can not be wrapped by gold silver or any other metal material. Although many of the Muslim scholars do not know about Bitcoin.

[itrade777]

I have some friends who are Muslim but they also acquire bitcoin. Many of them in their belief that they did not defy their religion since digital currency is not gold or silver. Bitcoin is being mined and can be acquired through hardship and effort.

[zinson01]

Till now I think bitcoin is more halal in Islam as it is not based on debt rather it is based on the work of projects.

[gaxfrwpy]

There are about 2 billion of the Islamic believers around the world, and some Islamic countries define bitcoin as an unlawful currency, which may slow the spread of the bitcoin community in the Islamic countries.

[nghihuynh2018]

Bitcoin was the sole currency marketplace for drugs and other illicit goods and services that was shuttered by the FBI in 2013.sp Bitcoin is also as money.

[petloer]

So far I am concerned bitcoin is more halal in Islam due to the way it is being originated and the reason for being halal is it is not based on debt rather it is based on proof of work.

[rahimali]

Yes it is true that all currencies are not considered as money until it is covered by silver, gold or any other kind of assets. So the scholars in Islam do not actually recognize bitcoin as money

[zahwaaja123]

according to the opinion of the religious scholars in my country, bitcoin is the same as money because as a means of payment or means of exchange received by the general public, some also refuse because it can not be accepted in the public or other countries.
so in my opinion, bitcoin is like a currency that can be accepted by any religion. because to get bitcion it needs hard work.

[ofelia25]

according to the opinion of the religious scholars in my country, bitcoin is the same as money because as a means of payment or means of exchange received by the general public, some also refuse because it can not be accepted in the public or other countries.
so in my opinion, bitcoin is like a currency that can be accepted by any religion. because to get bitcion it needs hard work.

That is right, we may consider bitcoin already as a currency since you can always do transact just like currency or fiat can do, the thing is that it is just not known or legal yet so in public or in the eyes of the law it is not a currency.

[joellogan]

Islam has its own rules like others. It is one of the fastest growning religion. According to Islamic canoniacal known as Sharia in which bitcoin sometimes considered as halal according to situation.

[rileyhill]

Islam supports intrinsic commodities which can be used as currency. That can be paper or can be money but that have to be backed by the commodity which is intrinsic.

[rileyhill]

As far I know,some mufti’s counselor think it is haram, because thaty think it is used to fund the terrorists directly. They think btc could allow for piracy, tax evasion, fraud and corruption.

[markluis]

Islam is a religion of peace. It has many rules. So it has rules in case of its currency too. In islam it requires to any debt currency can’t be linked. Some people think btc as money. So the halal or haram of  btc currency is actually variable accrding to the situation of its use.

[markluis]

In islam btc considered as halal. Normally traditional bank apply the principle of fractional reserve which has strictly prohibited but transaction of btc are not like that

[Ucy]

An interesting question is whether Bitcoin is money according to Islam.

Some Islamic scholars do not recognize bitcoin as a currency because one of the conditions that must be met as a currency is that it has a physical form while bitcoin does not meet these requirements. However, basically, bitcoin is created not as a currency but as a digital product that has value. Why is bitcoin now widely regarded as currency? The answer is because bitcoin starts switching functions and is used as goods for trading or investment.

that must be met as a currency is that it has a physical form

Other virtual currencies(including national currencies) shouldn't be acceptable if that is the case.
Someone above said the religion permits the use of Gold (which does increase in value too), so why not Bitcoin?

[arthotdog]

An interesting question is whether Bitcoin is money according to Islam.

Where did you get this story?or is this a legend?lol

Have to put some proofs or links here mate so we may have reference from this thread,

But about the muslim stands regarding bitcoin ,(if this is truth)then this is a good news because we know how large the muslim communitu here in crypto and in the world,they represented big volume of users

[Sonik33]

Bitcoin is the same as money because it is a medium of exchange accepted by the general public, value standards and saving tools. But other clerics rejected it in recognition of the general public because there are still many countries that reject it

[elwiswoodie]

I think BTC is not money, if it is in the view of Muslims, because the condition of being money is inappropriate
according to Muslims, money must have the same value as its nominal value, therefore gold or silver-based money becomes a legal and official medium of exchange for Muslims,

digital money has a nominal value, but its value is not equivalent to its nominal value, it is the same as the nominal and not the same banknotes

nominal = number indicated on money
value = price of manufacture material

[itglobe]

Do you think that ISLAM has mentioned currencies in the holy book? I just heard about SILVER, GOLD. This needs huge research while saying anything related to this matter. It's all about you that if your mind says like this then don't consider BTC as money. 

[biskitop]

in my country, in a statement, it turned out that bitcoin was rejected as a currency. because bitcoin always has to go up and down and is considered to cause usury.

[juljon18]

Very interesting on how this technology may pave the way for a common world OR it may create a huge rift right where one is not needed.  Hopefully in the end the blockchain is used to bring us together.  

[mornabo]

Till now I think bitcoin is more halal in Islam as it is not based on debt rather it is based on the work of projects.

bitcoin has the same price changes as fiat in general, although the changes are faster, so it can mean that bitcoin is also lawfu/halal
but for the standard of money in Islam is goods that do not have fluctuations and inflation, money in Islam itself is dinar

[ntodntodan69]

The definition of money from the book Buhuts fi al-Iqtishad al-Islami "Money: everything that becomes the medium of exchange and is generally accepted, whatever the form and in any condition." if it is seen from the book, it is permissible, that is in my opinion!

[nellakarisma]

what is clear in Islam in ancient times when the transaction was only using gold and silver that had been printed. the goal is to make it easier to make transactions easier. because mas and silver have a high exchange rate according to the gold or silver contained in it ..then the era has developed and it is easy to use paper money again. because paper money also has a high value according to the value and type of the currency .then now there is bitcoin digital money. I think it's legitimate to see the explanation above. the important thing is to have an exchange rate and be recognized and can be used as a transaction tool from both the seller and the buyer.

if my comment is still wrong please comment below ?? ..

[thesmallgod]

Anything which is earned by gambling or by the method of acquiring interest, is not acceptable in Islam. BTC are mined, i.e. people do work hard in it, and they pour money on it and get the work done. It does not defy the law in Islam so far, so it should not be haram.

I do not really you understand well what you have explained. bitcoin is being mine, yes that is true but also bitcoin can be acquire through gambling as well and so the other currency can be acquire through gambling. bitcoin can be acquire through different means and one of this is true mining. by the way I am not sure if there is anything like illegal mining because if someone is mining bitcoin in any country that make crypto mining illegal then the person is commiting sin.

[agimat]

An interesting question is whether Bitcoin is money according to Islam.

No it doesn't, Bitcoin is not money which it is a cryptocurrency means that a digital currency in which encryption techniques to generate money.

That is not a money  actually but it makes money through investment, many people enjoy this kind of digital currency because if you are lucky when the value will going up high you will be instant millionaire if you sell your bitcoin, many strategy to earn a profit in this investment.

[shawn995]

When all is said in done, Islam does not perceive any money that isn't secured by gold, silver, and different resources.
In light of the above definition, every single current cash are not considered as cash as per Islamic Sharia.
Muslim researchers in the ebb and flow time added an exemption to the monetary forms not secured by gold gave that there is a hand issued and ensured esteem, for example, the Central Bank. In this way, most Muslim researchers don't perceive bitcoin however may change later on.

[lexkiee28]

probably yes bitcoin is an alternative money this is a digital money and a modern currency now some of the businesses accept bitcoin as payment.

[Lexurdania]

An interesting question is whether Bitcoin is money according to Islam.

In past several weeks, I am reading article that cleric from middle east already make statement that bitcoin or cryptocurrency is halal for currency or halal as assets. Thats why peoples from country in middle east start doing bussiness on cryptocurrency and investing their money on crypto.

[Falmera]

An interesting question is whether Bitcoin is money according to Islam.

No it doesn't, Bitcoin is not money which it is a cryptocurrency means that a digital currency in which encryption techniques to generate money.

Yes, I agree with you fellow. Muslims will not consider bitcoin money. It ins intangible and as of this time may not be useful in all things. There are lots of products bitcoin cannot be used to transact these products.

[rutherford]

As for now, bitcoin is allowed in Islam as long as you have the right intention with it (for emergency savings and not for profits). But since Islam has their own terms and regulations towards money, so bitcoin can't be considered as money if you haven't exchange it into cash. Because bitcoin has no shape (paper or coin) and no real value  such as gold, silver and cooper.

[jamesbondbd007]

Anything which is earned by gambling or by the method of acquiring interest, is not acceptable in Islam. BTC are mined, i.e. people do work hard in it, and they pour money on it and get the work done. It does not defy the law in Islam so far, so it should not be haram.

[memecoin]

An interesting question is whether Bitcoin is money according to Islam.

Bitcoin is an electronic currency or virtual currency and is used for internet payment purposes. I do not think Bitcoin is considered Islamic money because Bitcoin will be the common currency worldwide. and anyone can use Bitcoin

[cryptocoinshunter007]

Theoretically, Islam does not accept any currency that is not backed by assets like gold, silver and other precious metals. However, Muslim Sharia is based on acceptance and normalization of norms of society over the years. But, don't think Bitcoin or cryptocurrencies will ever get accepted in Islam as there is no physical evidence of the currency.

[easybtcearn07]

No, Islam does not accept Bitcoin or and cryptocurrency that is not backed by a real time asset. There is no point in sugarcoating it. Islam is very strict about economic policies it has conveyed to people and to maintain those, there has to be physical prove of the currency we are using to trade or exchange.

[Catch-22]

I would guess then, that bitcoin would not thrive in the Midde East if it is not considered money. Or in Indonesia, the country with the largest Muslim population.

[Sadlife]

Bitcoin is a real money it can be liquidated, spend, use for online transactions, use as payment for goods and service it can be use as asset for investment or trading and most importantly it's fast, convenient and secure and decentralized you can freely use your own money without regulations or third party tracking. Free from exploitation and oppression. So yeah it's money but a better version of fiat.

[cryptohipo]

Well Bitcoin is not money in the general sense to start with, it's just the digital version of currency under a decentralized system. According to Islamic Shariah, any that is covered by gold , silver and other assets are considered as currency . Bitcoin doesn't apply to any of it, so yeah it's not money according to Islam.

[ballerin and giroud]

An interesting question is whether Bitcoin is money according to Islam.

According to Islam, dynamism with money is 'an item that has value' in any form because in syara law it is not a classification that money must be in this form or form. So, simply what is called money according to Islam is a valuable item and has been agreed upon by many people or agreed between the seller and the buyer. So my conclusion is, bitcoin is already included in money because it has value.

[caideogivay23]

In my opinion it will be classified as Islamic money because it is valuable and Islamic does not classify currency, only through a valuable currency for transactions between sellers and buyers.

[abhi777]

what is clear in Islam in ancient times when the transaction was only using gold and silver that had been printed. the goal is to make it easier to make transactions easier. because mas and silver have a high exchange rate according to the gold or silver contained in it ..then the era has developed and it is easy to use paper money again. because paper money also has a high value according to the value and type of the currency .then now there is bitcoin digital money. I think it's legitimate to see the explanation above. the important thing is to have an exchange rate and be recognized and can be used as a transaction tool from both the seller and the buyer.

if my comment is still wrong please comment below ?? ..

Bitcoin is the same as money because it is a medium of exchange accepted by the general public, value standards and saving tools. But other clerics rejected it in recognition of the general public because there are still many countries that reject it. "So that is still being considered.

[Dmitry.Vastov]

An interesting question is whether Bitcoin is money according to Islam.

For the entire world bitcoin is now considered as one of the greatest investment of the era and thus there are millions of people around the world who are investing into bitcoin, though there are few countries who has legalised crypto transactions in their nation like South Korea 🇰🇷, Japan 🇯🇵, Vietnam 🇻🇳 and many more and only in these countries bitcoin could be consider as a money as they only can use bitcoin as s mode of transaction for their day to day life.

[ashar.ashfaq26]

According to my experience and though, I conclude that rhis money is bot haram .
You should invesr in it it need ur effort nd it’s not a gambling
Its same as the stocks so it’s fine

[SaeedKhan996]

An interesting question is whether Bitcoin is money according to Islam.

There are many things to keep in Mind! Like first of All, In islam anything on which you don't work Hard is Haram. In BTC, we do Mining, its working, energy is used, so it's fine. Second, they say it dosen't have a physical body, So Visa cards, Easy loads balance also don't have a physical body and other than that We dont buy Altcoins and BTC, In reality we invest in the purpose of the coin, Like Linda coin will be soon for Medical researches etc, So we're being a part of that research by supporting it.

Also, some scholars call it Haraam and banned it, But Paper money was also haram and later allowed, Bitcoin will soon be allowed as well.
We need to be ready for it.

This is just my view, and it might be wrong , its possible, so do your own research as well.

[Cool1]

It can be concluded that the use of bitcoin as a currency in Islamic law is permissible. However, its use is not legal in Indonesia because Bank Indonesia policy in determining the currency recognized in Indonesia is only Rupiah.
In fiqh review, muamalah against Bitcoin transactions in the process using the Sharf agreement. Sharf is an activity of buying and selling currencies with currencies, both similar and non-similar, such as buying and selling gold with gold, silver with silver, or gold with silver.
Judging from the conditions of the type of transaction, the Bitcoin transaction is included in the type of spot transaction. Spot transactions or Spot Transactions are foreign exchange buying and selling transactions for delivery at the time, with a settlement time of around two days. The law is permissible, because it is considered cash while the time of two days is considered as a process of settlement of international transactions.

[Edi86]

do not associate bitcoin with religious matters especially about the law in Islam. there are still many countries that have not legalized bitcoin let alone legalize in religious law. as long as it doesn't contradict each other I think bitcoin is going well without carrying things sensitive

[Sanjida]

I don't think that it does matter which religion you have.because I am Muslim and I am income many money in bitcoin currency.and I must say that all Muslims and religion bitcoin are gopher, people do work hard in and they offer money on it.

[cryptolandlords]

Bitcoin is a decentralized platform. Bitcoin do not need any particular religion approval to function as money. Let all the religion know their boundary when it comes to some certain area. Religion suppose to address spiritual part of peoples life not deciding what sound be consider as money.

[Al Muhaimin]

In general, Islam does not recognize any currency that is not covered by gold, silver, and other assets.
Based on the above definition, all current currencies are not considered as money according to Islamic Sharia.
Muslim scholars in the current era added an exception to the currencies not covered by gold provided that there is a hand issued and guaranteed value such as the Central Bank.
Therefore, most Muslim scholars do not recognize bitcoin but may change in the future.

yes this is true.

[tsinelas]

An interesting question is whether Bitcoin is money according to Islam.

For me anything that can be used for trading is money,  the term money is defined as a medium for exchange so I think whether it is gold, asset, or a thing it can be considered as money. Even your an islam or not, cryptocurrency's purpose is a medium of exchange in the world wide web.

[Kotone]

An interesting question is whether Bitcoin is money according to Islam.

For me anything that can be used for trading is money,  the term money is defined as a medium for exchange so I think whether it is gold, asset, or a thing it can be considered as money. Even your an islam or not, cryptocurrency's purpose is a medium of exchange in the world wide web.

yes of course. for me too.i considered bitcoin as a money. we know that the money is a thing that we used to buy what we want or need in our life. luxuries. it also buy services and products. so the bitcoin will do it. the only dofference in the real money in digital money is because it is only in the online that used. it can used only in online to biy things or etc

[Yusuf77]

a currency does not deal with religion, all can use it even though it is different in religion. surely bitcoin is considered money according to Islam but it's digital money. I am also an Islamic religion, bitcoin is my money because bitcoin is my income every day. haram or not depends on how we get it.

[zolfa]

yes, bitcoin is like any other transaction tool, but for temporarily, bitcoin has a problem in its legality, because it is a new innovation currency. so not everyone can accept this currency.

in English, bitcoin is used as a payment tool for zakat.

[131tc01n]

In general, Islam does not recognize any currency that is not covered by gold, silver, and other assets.
Based on the above definition, all current currencies are not considered as money according to Islamic Sharia.
Muslim scholars in the current era added an exception to the currencies not covered by gold provided that there is a hand issued and guaranteed value such as the Central Bank.
Therefore, most Muslim scholars do not recognize bitcoin but may change in the future.

yes Islamic law only knows gold, silver and other items. but most people abuse this crypto currency as an act that is not prescribed by Islam.
So in my opinion and some religious experts who have discussed bitcoin, bitcoin has a halal status but it has not been legally recognized

[maskeffec]

An interesting question is whether Bitcoin is money according to Islam.

Of course bitcoin is not recognized by Islamic Shari'a as a currency because Bitcoin does not have a physical form, whereas in Islamic law, currency must have a physical form. I don't think that is what religion you have. because in the Shari'a of Islam credit for goods is also considered haram because it is usury. This is the side of business and finance has nothing to do with religion.

[Labay]

An interesting question is whether Bitcoin is money according to Islam.

How do you say that?  Islam has divided into different country so it is hard to say because if you say Islam, it is the all person of the same religion.  I don't think where you get that information.  If there are a Muslim person who considered that crypto was his money then it is considered a money on him/her so it is depend on person either what religion he/she have.

[Malya_alkendy]

From the explanation of the assembly of Muslims in my country, Bitcoin is legitimate to use, and everyone can use it. this means the law of bitcoin is not Haram, and may be used for Muslims.

[stayeduptolate]

An interesting question is whether Bitcoin is money according to Islam.

Bitcoin in present times is very huge and very potentiating crypto currency and thus is most successful and the most profitable and the most popular investment of the present times and thus attracting millions of people around the world to invest into it. Not only this, the potential and fate of bitcoin has also convinced many governments to legalise it in their nation and bitcoin is now used as a means of transactions and as a money in those countries who has legalised it in their nation and the Islam is one of them.

[Taronet-division]

bitcoin is a tool that has value and is used to trade, if in Islam many say this cannot be a currency because it does not meet the requirements. I think, it's legitimate if bitcoin becomes a currency in Islam. because I think this is progress in transacting, of course, with the progress of the times, there needs to be a growing study as well

[shoreno]

bitcoin is a cryptocurrency , currency which means a money . what i dont understand is why there  are still religion , region , country , people , etc that is doubting about it ?  the real truth is that bitcoin did aleady existed for about 8 to 9 years ( since 2008 )  , why they are still blinded by the truth ? if they dont like bitcoin or any cryptocrrency then dont  . we dont want them .  many people are stil believing on the future of money . soon bitcoin will wipe out all other currencies and i guess that is the time that they will all regret for not believing in bitcoin .

[supermine]

Bitcoin is the digital currency and it also holds the value,it can e used by the people for their buying purpose so it also can be considered as currency by islam until they make the bitcoins in the legit way according to Shariat law,but most of the people recognized bitcoin as ponzi so they need to understand what is bitcoin before they blame it.

[estupido]

I don't really understand, it's just that if it doesn't violate the norms of religious norms I think it can be said of money.

[invincible49]

This whole thing needs a lot of research and study. Many Mufti and scholars may come out of astonishingly ridiculous statement on this matter because they may try to follow their own sectarian rules. I believe we have not heard any proper fatwa, comment by any top Islamic Scholar regarding Bitcoin that we can all agree upon.

[invincible49]

In general, Islam does not recognize any currency that is not covered by gold, silver, and other assets.
Based on the above definition, all current currencies are not considered as money according to Islamic Sharia.
Muslim scholars in the current era added an exception to the currencies not covered by gold provided that there is a hand issued and guaranteed value such as the Central Bank.
Therefore, most Muslim scholars do not recognize bitcoin but may change in the future.

Yes, you are spot on. This shows that while the Muslims say they will not accept any decision made by world's governing bodies, International monetary system which contradicts Islamic Sharia Law but they accepted the current fiat money system which is not backed by any commodity in the 80's in most of the Muslim countries. But the following hadith says,

“Gold is to be paid for by gold, silver by silver, wheat by wheat, barley by barley, dates by dates, and salt by salt, like for like and equal for equal, payment being made hand to hand. If these classes differ, then sell as you wish if payment is made hand to hand. “
[Sahih Muslim, Book 10, Hadith 3853]

Those so called Islamic countries and their grand Islamic Scholars have also accepted Debt-based, Usury generating Central Bank backed paper money simply because the global acceptance of such paper money. What gives those paper money the value they have? They say it is the confident of people's acceptance! But is it any way allowed according to Islamic Sharia laws? No. Islam says it only allows commodity of values which price can be mesured by the scarcity, supply, demand. Now the question is, whether Bitcoin can be regarded as a digital commodity? Many people say no it is not. But in my view it is a commodity which needs to be mined and scarce too! Thousands of people are the owner of it and this means that Bitcoin is not regulated by any governing body and we see bitcoin as a medium of exchange. People are still trying to catch up with the blockchain technology and the means of cryptocurrency is yet to gain people's confidence. But here we are on this forum, every single one of us has confident in bitcoin. Bitcoin seems to me a digital currency that absolutely supports the condition of Islamic law for currency. This view is totally mine but I am looking forward to Islamic scholars view on this who will give their verdicts from a neutral Islamic and technological view which will not serve their own country's Central Bank and Government's purpose.

[Dragongin]

In the fiqh evaluation, muamalah opposed Bitcoin transactions during the Sharf deal. Judging from the terms of the transaction type, Bitcoin trading is included in spot trading. The law is allowed, because it is considered cash while the two-day period is considered a process of settling international transactions. does not associate bitcoin with religious issues especially about the law in Islam. As long as it does not conflict, I think bitcoin is working well without carrying sensitive stuff. Because I'm a Muslim and I make a lot of money in bitcoin.

[Cindrella88]

I do not think that's the religious issue you have. I have to say that all the bitcoins and religious gophers are gopher, people work hard and they offer money on it. Bitcoin does not need any specific religious approval to function as money. Religion supposes to solve a spiritual part of human life that does not decide which sound is considered money. Surely bitcoin is considered pre-Islamic but it is digital money. haram or not depends on how we get it.

[h0lybyte]

Anything which is earned by gambling or by the method of acquiring interest, is not acceptable in Islam. BTC are mined, i.e. people do work hard in it, and they pour money on it and get the work done. It does not defy the law in Islam so far, so it should not be haram.

Money earned holding bitcoin is surely not interest because it is profit achieved by digital trading and islam has not restricted profits earned by trade.
Lets suppose you have bought a plot of land at $50,000 , after a few day or someone giving you $60,000 overnight for same plot of land, does anywhere islam restrict such profit or it says you have to sell that plot for same price you have bought at after 100 years ?

[Gragal]

my opinion bitcoin can be done in Islam, bitcoin is not gambling, here we are competing to find profit and we also have to have a lot of capital, if we work in the bounty campaign, we will get it in Islam, following the bounty work we work in monthly

[abhi777]

An interesting question is whether Bitcoin is money according to Islam.

in my opinion, bitcoin is allowed in Islam because bitcoin is not a gambling game but rather a digital currency. bitcoin is a job that invests using the brain and bitcoin is not an illegal job

[cfif123]

if what I often hear from bitcoin scholars in the eyes of Islam, no one has said bitcoin is a currency, but with time, surely bitcoin will be discussed by Islam too

[SIDDHI777]

An interesting question is whether Bitcoin is money according to Islam.

Without a doubt bitcoin is money because its main purpose is to use as a means of payment for goods and services basically on line as a digital currency and also it is considered as an alternative currency in the financial world so even many people today use it as an investment bitcoin is money but with more value and capability to do much more things for its users.

[HenryHope]

I am a Muslim, bitcoin is my money because bitcoin is my daily income. Yes, bitcoin is like any other trading tool, but temporarily, bitcoin has a problem with its legitimacy, because it is a new currency of innovation. Bitcoin is used as a payment instrument for zakat. Bitcoin is a valuable tool and is used to trading if in Islam many say this can not be a currency because it does not meet the requirements because I think this is progress in Transactions, of course, with the advancement of the times, need to have a growing research. Many people are still believing in the future of money. Bitcoin is a digital currency and it also holds value, it can be used by people for the purpose of their purchase so it can also be considered as the currency of Islam until they make the bitcoin accordingly.

[bitfocus]

if you ask me, I would suggest you to discuss this in some Islamic forum.

[stayeduptolate]

An interesting question is whether Bitcoin is money according to Islam.

From 2009-2018 the journey of bitcoin is never that easy, bitcoin has gone through many ups and downs in this decade, has faced many criticism and has a wonderful journey from having millions of haters to millions of investors and now the time is that more and more people started understanding the fate and potential of bitcoin and millions of people around the world are now investing into bitcoin and many countries has even legalised it and this is very good that Islam considers bitcoin as a money.

[rathaha10]

There are many debates about this in Islam, but one thing i know is that a mosque in London accepts Bitcoin/Ethereum as donation. I think that this is a wonderful idea, because they already got a lot of donations from people around the world.

[SIDDHI777]

There are many debates about this in Islam, but one thing i know is that a mosque in London accepts Bitcoin/Ethereum as donation. I think that this is a wonderful idea, because they already got a lot of donations from people around the world.

If the debate is to decide whether bitcoin is money or not then there is not debate because we all no bitcoin is a currency and it was developed in the first place to do every thing a common currency can do to use as a means of payment for any service or product so there is no difference between fiat currencies and bitcoin except the intangibility which is negligible because what is the purpose of it when we are living in a world that everything is digitizing   

[ChristinBenly]

i'm not sure about that.  I only know that bitcoin is a kind of money but virtual , it means that the transaction between two parties but no one know another.

[resty]

An interesting question is whether Bitcoin is money according to Islam.

Definitely right because all forms of transaction of bitcoin is classification form of payment method even if it is tangible, so me also I agree with the theory of Islam. 

[OSYA]

An interesting question is whether Bitcoin is money according to Islam.

I don't have a deep knowledge of Islamic believes though I suppose a bitcoin will not be recognized as a money. But it is very hard to judge nowadays as technical progress and development make hard the understanding and interpretation of the religious canons.

[kiemponxs]

bitcoin is not money but digital currency, I think Islam will allow bitcoin for Muslims as long as bitcoin is used properly, unless bitcoin is used for criminal tools such as terrorist financing or money laundering, Islam will certainly not allow it.

[zeingrind777]

I, as an Islamist, argue that the halal or haram of bitcoin depends on how we use it. If Bitcoin is used the same as money because it is a medium of exchange received by the general public, which has a standard value, it may be used (HALAL).

But it can also be haram if Bitcoin is used as a septic tool or in other words, it is only a game of profit and loss. this includes GHARAR and is not permitted in Islamic law.

[casternetwork]

An interesting question is whether Bitcoin is money according to Islam.

oke This is an interesting question "May Bitcoin be considered money according to Islam?", but I can be 80% sure it's not, not a little and the same yellow. I do not dare say 100%, because I have not had any proof of what I just just say.

[jhonvir666]

It is also possible, because the vast majority of Muslims do not interfere with the matter and I think the bitcoin currency is regarded as a money, because money is also home to a digital currency. and there are also Islamic who really believe in a digital currency as a bitcoin proving that the Islamic country can also take along with a bitcoin. and most of the people in Islam are here proving that they believe in bitcoin crypto.

[zubrr51]

Here is religion when it comes to money. The main thing is that the activity is profitable, and the name of the currency is not important.

[entebah]

my opinion bitcoin can be done in Islam, bitcoin is not gambling, here we are competing to find profit and we also have to have a lot of capital, if we work in the bounty campaign, we will get it in Islam, following the bounty work we work in monthly

Yes, I agree with your opinion, for me bitcoin is my livelihood for 2 years from participating in a bounty campaign to get bitcoin for free. I don't spend any money to trade, purely I get bitcoin from working hard as a bounty hunter. So I think when I work even though I am a bounty hunter it is the same as working in another place, in Islam if I work it is good and lawful. different from gambling. it's prohibited

[Bunsomjelican]

An interesting question is whether Bitcoin is money according to Islam.

Every individuals had their own opinion that they can give here in the forum. Bitcoin is money that can be consider in terms of digital currency, but in physical aspects it is not a currency/money. However, from digital form bitcoin can be convert into fiat currency. So, if you are going to look at it is still can be say it is a real money on which Islam was right on this thoughts.

[blocklancer8]

I don't really understand if it is associated with religion, what is certain is that bitcoin is not a currency, but digital technology that has value. Where the development of the bitcoin era is increasingly used as a tool for transactions. And if I think that in the future bitcoin will be seen as something lawful for all circles.

[eashikde]

My opinion is that money is money. Digital money is no different from fiat money, so I think Islam is not prohibited. It is important that in Islam you cannot perform certain actions with money, it is to lend, take a loan and much more.

[babykajima]

Of course not, BTC isn't under the control of any organization or country. And it is the digital currency that the coding technology makes for investment and business, so it isn't Islamic money.

[amar786]

the more debate is require in considering bitcoin as legal or Halal according to Islam. as cryptocurrency is very wide field and more things is yet to be understood by the people. as time passes and bitcoin will be easy to understood may be constituencies in Islam would be change about bitcoin. but right now it is not a valid source of income according to some Ulma e Ikram.

[marinavepa]

Bitcoin isn't money for Islam because it is a digital currency and is for business purposes.

[ngalamunan]

It is also possible, because the vast majority of Muslims do not interfere with the matter and I think the bitcoin currency is regarded as a money, because money is also home to a digital currency. and there are also Islamic who really believe in a digital currency as a bitcoin proving that the Islamic country can also take along with a bitcoin. and most of the people in Islam are here proving that they believe in bitcoin crypto.

Bitcoin is the same as money because it is a medium of exchange accepted by the general public, value standards and saving tools. but let alone in Indonesia, even the presence of Bitcoin is still sparking debate. Starting from politicians, the banking community, businessmen to top leaders of world-renowned technology companies, commenting on Bitcoin. everyone has a different opinion.

[Desscount]

An interesting question is whether Bitcoin is money according to Islam.

I think the problem is that it doesn't need to be debated or discussed with crypto, if you refer to scripture then you must live like that era. the state of the internet will also be a problem if it has to be linked to religion. so stop making silly posts like this.

[yfan2010]

I can't give an explanation about this, but I myself have a principle, as long as we get money (no matter digital money or paper money) in a lawful way and use it according to Islamic teachings, I don't think that is a problem.

[clonely]

According to Islam, the use of interest is forbidden. Crypto currencies can also be troublesome in futures transactions. Apart from that, I don't think it's gonna be a problem. Still, we need to ask religious experts.

[Patatas]

It is also possible, because the vast majority of Muslims do not interfere with the matter and I think the bitcoin currency is regarded as a money, because money is also home to a digital currency. and there are also Islamic who really believe in a digital currency as a bitcoin proving that the Islamic country can also take along with a bitcoin. and most of the people in Islam are here proving that they believe in bitcoin crypto.

Not like they have an option. It's easier to buy guns, bombs online with bitcoins lmao I'm not trying to be a racist, just stating the facts.

According to Islam, the use of interest is forbidden. Crypto currencies can also be troublesome in futures transactions. Apart from that, I don't think it's gonna be a problem. Still, we need to ask religious experts.

Is there a thing called religious experts? Are they the same people who spread Muslim propaganda all around Europe? Their opinions are as good as that dude who said fucking a goat is a way to go to heaven.

[Qurelal]

Previously, digital currency was considered a form of usury due to the high level of volatility, which caused many disputes among scientists.
Since Bitcoin can be considered both as a commodity and as a currency, it is rather difficult to quantify. At the same time, it falls under certain requirements, which must meet the money in the Sharia.

[rtm125]

I don't know much about Islam, but I don't think bitcoin will be accepted by this religion. Internet currency and Islamic laws can hardly be fully combined.

[Asawakobana2017]

I don't know much about Islam, but I don't think bitcoin will be accepted by this religion. Internet currency and Islamic laws can hardly be fully combined.

Bitcoin is really considerable as money, even if it doesn't have a physical appearance and it only runs through internet we can still considered it as a money because we can convert it to fiat and buy our needs. I believe that bitcoin is really amazing it can maybe become a verry big thing in the near future.

[basyang]

An interesting question is whether Bitcoin is money according to Islam.

Personally, I do not know much about Islam and what are their beliefs in bitcoin. But I do believe that whether you are a islam, roman catholic, hinduism, buddism or etc. still you are open to accept bitcoin is better. Using bitcoin does not define what religion you are as long as you used it in a good way. People are many beliefs so its depends on them on how they see bitcoin and other coins.

[serjent05]

Anything which is earned by gambling or by the method of acquiring interest, is not acceptable in Islam. BTC are mined, i.e. people do work hard in it, and they pour money on it and get the work done. It does not defy the law in Islam so far, so it should not be haram.

I think so. I far as I know there’s a lot of muslim fellows that are into bitcoin and cryptocurrency in general. It only proves that by involving in or acquiring them does not violate their religious law. They are very strict when it comes to implementing their law so i believe they will not take the risk if they know it is against their law.

[FastSlots]

Though Bitcoin is not money according to Islamic Shariah but It is not haram also. People are working hard to make it and we spend almost every hours on it, so bitcoin is like Remuneration! MANY Islamic countries are except few. Some people describing bitcoin in the wrong way and they are calling it haram. But One day They will realize the right thing. You must research yourself, don't rely on someone blindly.

[moblinet]

i think it need sth like sofa bed to thinking on it

https://www.moblinet.com/product-category/%D9%85%D8%A8%D9%84-%D8%AA%D8%AE%D8%AA%D8%AE%D9%88%D8%A7%D8%A8%D8%B4%D9%88/

[undisclosed]

As far as I remember, there were statements regarding the fact that Muslims can deal with Bitcoin. Enough to google.

[kaya11]

An interesting question is whether Bitcoin is money according to Islam.

Me and my colleagues ask if it is permissible to use the currency and they said it falls in the section where doubt is. In Islam doubt should be avoided but they never prohibit us. We said we work and earn money from a site where they pay us via crypto. Their answer it is okay as along as we are not with the ones who are in the deceiving team or scammers, it is okay for us to use the currency as long as no harmful effects to other folks around us. They say that even the paper money does not have a value but it said to believe it has, so there shouldn't be a problem in a digital one. We may never know, sooner or later Muslim countries like Dubai or UAE countries will use a digital currency and disregard the paper one.

[dimiinx]

It is also possible, because the vast majority of Muslims do not interfere with the matter and I think the bitcoin currency is regarded as a money, because money is also home to a digital currency. and there are also Islamic who really believe in a digital currency as a bitcoin proving that the Islamic country can also take along with a bitcoin. and most of the people in Islam are here proving that they believe in bitcoin crypto.

in my opinion, it doesn't matter if religion does not support like this, this is looking for a lawful income and I don't think it needs to be associated with religion because it has nothing to do and does not make other religious losses.

[Isiaka208]

With so many views around, there hasnt been any full standpoint as to it being a currency or not. Although further developments and changes will contribute to views of scholars.

[MeongElek]

Bitcoin and the blockchain system are a development of technology. And I know, Islam really appreciates technological developments. If cryptocurrencies are banned from an Islamic point of view, why are there projects like this http://www.adabsolutions.com/
I believe Islam does not prohibit the use of Bitcoin or cryptocurrencies. It's just that, if it's wrong when using cryptocurrencies, then this is prohibited in Islam.

[rindayle]

I think religion should not touch upon the issue of electronic money in any way. I never heard that did not recognize the dollar or the ruble, it is the same coin only has no physical currency, so I think it can be used by all.

[nuraziaaziz]

In general, Islam does not recognize any currency that is not covered by gold, silver, and other assets.
Based on the above definition, all current currencies are not considered as money according to Islamic Sharia.
Muslim scholars in the current era added an exception to the currencies not covered by gold provided that there is a hand issued and guaranteed value such as the Central Bank.
Therefore, most Muslim scholars do not recognize bitcoin but may change in the future.

Yes, I agree and I believed that it must be a physical form to consider it a money.

[bitfocus]

Don't you think you should ask it to some islamic figure?

[J Gambler]

In general, Islam does not recognize any currency that is not covered by gold, silver, and other assets.
Based on the above definition, all current currencies are not considered as money according to Islamic Sharia.
Muslim scholars in the current era added an exception to the currencies not covered by gold provided that there is a hand issued and guaranteed value such as the Central Bank.
Therefore, most Muslim scholars do not recognize bitcoin but may change in the future.

Correct. They don't mind online businesses as well. It depends upon the country actually. However, Bitcoin is not related to any religions all over the world. We have different thoughts and beliefs. And according to our experts, in the near future, money would be spent online and there would be no physical money that we can use.

[andieoke]

Yes, I have never heard Islam consider Bitcoin to be Money. But Islam considers Bitcoin to be a legitimate transaction tool, I get this from a decision delivered by the Islamic Ulema Council in my country. As long as Bitcoin does not harm the ummah, then this Bitcoin is legitimately used as a transaction tool.

[munareal]

ADAB Solution the First Islamic Cryptocurrency Exchange has been build base on the norms and value of Islamic principles and value having that I believe bitcoin is acceptable in Islam

[rikybrosh]

I am not really sure with my answer but as we know that something that is halal can haram if we earn/get it by bad way. For example, milk is halal but if we get that milk by stole it from the  owner then it will be haram. And I heard that omar want to make money in form of camel skin, but he didn't do it because if he do this then camel will be extinct, I have watched a tv show and heard about it.

[reynald70]

In my opinion Bitcoin depends on someone who uses bitcoin for what, for example bitcoin is used for terrorist purposes or for illegal drug transactions using Bitcoin, of course it is not permitted according to Islamic rules, it makes Bitcoin Haram, but if Bitcoin is used to buy and sell I think it's allowed.

[aryatrals]

An interesting question is whether Bitcoin is money according to Islam.

according to Islam all things that are more beneficial than mudorat can be categorized as halal except those that are already prohibited, but if an object more mudorat benefits can be categorized as illegitimate, or if there are differences of opinion can be categorized as chaotic, but for the case of bitcoin Islamic scholars still have differences of opinion, there are those who forbid there are also people who allow, if we as entrepreneurs we take the good side if bitcoin for the means of selling is good, I don't think it's a problem

[wily27]

people work hard in it, and they pour money on it and get the job done. It is not against the law in Islam so far, so it should not be haram, bitcoin is not money but digital currency and assets like that and lawful in Islamic law. so for those of you who are Muslim. Don't hesitate because Halal Bitcoin is used for you.

[lepbagong]

I don't think that it does matter which religion you have. I have never heard that dollar has been mentioned in the Islamic religion as well. It is business and financial side has nothing to do with religion

Opinion is very wise because all this time I myself have seen no opinion from followers of the Islamic religion about Bitcoin, they still follow and assume that this is really pure business and there is no other purpose.

[bigbosma]

I don't know much about this religion, but it is quite ancient, and it is unlikely that digital bitcoin technology can be recognized as a currency. But on the other hand, bitcoin does not bear anything bad or reprehensible, it is simply created to improve the modern financial system.

[Elerntta]

It is a pity that there are no official decisions of representatives of this religion about whether Muslims can use bitcoin as money. And everything that is not forbidden is allowed. In addition, bitcoin can hardly create any problems for people professing this religion.

[aryaadikariyansyahsuwarto]

in my opinion, Islam has very strict and clear rules for this problem, because Islam is a religion that has explained everything ... Islam only considers money to be tangible or shaped, so that buying and selling can be done directly or in cash, so that those who hold the money can feel and see for yourself the form of money ..

[BagzMM]

For me bitcoin is a digital money that has a value that needs mined. As what i understood in Islam if it is halal if it is lawful in traditional Islamic law. Maybe they considered it because they know is is lawful to their tradition.

[lalabotax]

An interesting question is whether Bitcoin is money according to Islam.

I often see this post both locally and above. this is quite boring to answer, I think if crypto is contrary to conscience it should leave it especially for bounty hunters.

[NelfiNovita]

An interesting question is whether Bitcoin is money according to Islam.

depending on how to get it if you get it by gambling, then obviously it is forbidden, and if you get it by working hard as instructed and paid in the form of BTTC, I think this is not illegal.

[kalstarzz]

maybe I have not found a definition of money in Islam, but I have found an understanding of transactions, in Islam it is explained every thing that has a price or value can be a tool for making transactions. and I have not found any conditions that must be fulfilled in Islam so that a certain object can be said as money. and I think Islam does not give a certain definition of interpreting money. Islam only determines the number of things that can be used to transact, and bitcoin has fulfilled the requirements in the transaction.

[Zadeket]

For me bitcoin is a digital money that has a value that needs mined. As what i understood in Islam if it is halal if it is lawful in traditional Islamic law. Maybe they considered it because they know is is lawful to their tradition.

I think it's money, it's only used digitally. Bitcoin has a value that is converted with USD, so it can be known by the public that today's bitcoin exchange rate is USD. In my opinion it is lawful because it is not gambling, and prices are made because there is supply and demand.

[rumexx]

Bitcoin is a digital money whichever way we look at it. The Islamic law may or may not recognize it but I know of some bounty that is being projected by Muslim, for example, Halal was one of them and I participated in promoting it. if Islam does not recognize bitcoin as money why did they projected those projects and worked on it till the end.

[RokokGudangGaram]

if what I know is that bitcoin according to Islam cannot be a currency but it can be an asset like an item that can be used as an investment and can be traded

[qiwoman2]

It was passed by the Shariah Council apparently as being HALAL and can be used as money and most cryptos in general as well as long as they are not scams. It's also halal to join ICOS as it is considered a business venture and business partnership to ivnest in a legitimate business. I think this is good because it makes all people inclusive in joining the crypto revolution as long as Bitcoin is being sued by Everyone, it can also help local and big economies grow by diversifying money and decentralizing wealth all around. I hope more Muslims partake in this great tech leap venture forward as it will help unite people a supposed to divide them, which unfortunately politics tries to do by being partisan.

[meagleweb]

Recently, Islamic religious scholars have banned the sale and purchase of bitcoins. It's funny
https://amirannama.com/product-category/firebrick/

[lokas0506]

BTC is Haram if u think about it

But in Rome u do as the Romans do

Could argue about Mining as means of securing the value transfer aspect anyway for starters highly volatile nature of BTC implies it being Haram (one could argue that times have changed since back in the time 1 gold=1 gold and inflation was a matter of decades <rather not centuries :-)

Summing up - Send 1 BTC cash out 1BTC / pay for smth with BTC - OK , buy BTC with intent to make profit - Haram , so what if I get paid in BTC hold it and make a lot of profit (and the like situations ) well I suppose its the stress/energy that makes it Haram and I suppose this what Sharia is about having your ancestors wisdom to help u with life

[soheilbrick]

https://soheilbrick.com/

[Newlifebtc]

An interesting question is whether Bitcoin is money according to Islam.

Bitcoin is money and bitcoin is not something of religion and is a digital money you can spend Bitcoin the way you spend your paper money you . The thing is causing people to be confused of bitcoin is when they dis regards the currency as fraud and people use to collect money from other people illegally, nothing is islam religion for bitcoins because is everywhere