May Bitcoin be considered money according to Islam?

[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.