Is Bitcoin halal?

[zasad@]

I think if we talk about a real Muslim or a representative of other confessions, at the present time it is quite difficult to adhere to religion. If you live according to all the canons and postulates, then you need to go to the forest or desert and give up absolutely all technologies. Including telephone, television, loans, and more.
Therefore, you need to try to live according to religion, adhere to moral qualities, but never lose your head.

You exaggerate, I have not seen religions banning telephones and televisions and urging people to live in the forest or desert.
In Islamic law, there are banks and there are loans (but one should not confuse Islamic loans and non-Islamic ones).
There are a lot of Islamic banks in the world that operate according to Sharia law. Yoy can verify this yourself by writing a request in Google "Large Islamic banks"
https://listofbanksin.com/ListIslamicBanks.htm

But the most interesting point is that you will not find a ban in other religions to use Islamic banks, But all 4 religions that I wrote about above prohibit loans (in the form in which they are present in European, American banks and other countries) 

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[Snowballx]

As many of the member said it's HALAL and the main reason is if it's acceptable from the 2 sides then its just a money as they do back in years " Deal is accepted between two people without any condition stumbling the deal and the agreement is clear and didn't effect the Sharia, it's Halal"


I remember I have long talk with a lot of Mash'aikh around me and some of them didn't understand what is actually Bitcoin and while explaining to them what exactly it is, they gave me the exact answer I just mentioned above.




Hopes that helps you.

[lovesmayfamilis]

You exaggerate, I have not seen religions banning telephones and televisions and urging people to live in the forest or desert.
In Islamic law, there are banks and there are loans (but one should not confuse Islamic loans and non-Islamic ones).
There are a lot of Islamic banks in the world that operate according to Sharia law. Yoy can verify this yourself by writing a request in Google "Large Islamic banks"
https://listofbanksin.com/ListIslamicBanks.htm

But the most interesting point is that you will not find a ban in other religions to use Islamic banks, But all 4 religions that I wrote about above prohibit loans (in the form in which they are present in European, American banks and other countries) 

I hoped that people can read and understand correctly. I'm sorry you have a problem with that. Furthermore, I know all this information. Likewise, I don't live in the forest.
Once again in that case. Religion forbids many things. Including entertainment programs. And now we read carefully what I am writing: if you fully adhere to a religion, inside and out, then cryptocurrency is just a small part of what true believers may not like.
And then we read: do not lose your head, and the main thing is to remain human, and not be a fanatic.

[hatshepsut93]

With Muslims making up a quarter of the world's population, a clear consensus on the Islamic view of Bitcoin has global implications.

And how many of those muslims are hardcore fanatics who follow every letter of the scripture literally? I'm sure a good portion of "25% of world's population" uses Visa cards and has bank accounts and doesn't care that some dudes said that it's immoral. So, regardless of what they say about Bitcoin, many muslims will still use it.

[pawanjain]

Bitcoin can be considered just like any other asset in this case. If they can invest Stocks, Real estate, Gold, Silver, etc... then they should be able to invest in bitcoin as well.
Though bitcoin is used for illicit activities by some people it is also used genuinely by many others as a source of income.
So I think Muslims can invest in bitcoin if their sole purpose is to buy/sell bitcoin and gain profits.

[traderethereum]

It depends on how your views on bitcoin.
Only GOD will know if that is halal or haram, and we are human who has a different opinion about one thing.
If you think that bitcoin is haram, you do not need to use bitcoin and stay away from bitcoin.
But you can not blame other people who want to use bitcoin or saving bitcoin because they know what they do (at least).
I think it will become a sensitive case to discuss, and there will be no end because each of us will say our perspective.
We should decide for ourselves, at least, ask your heart.

[mbe48]

Bitcoin is permitted in principle because it is treated equally valued by market prices on global exchanges and is accepted for payment at various outlets. In fact, many private individuals accept bitcoin as a means of payment in personal transactions.
The conclusion amazes me, if bitcoin is used for positive things, of course it is halal.

[pixie85]

However, gambling, lending, and some kinds of trading with cryptocurrency are almost certainly forbidden.

Then don't gamble, lend and trade for profit.

It's hard for me to believe that all those rich Muslims who bathe in oil money don't ever invest in stocks or trade fiat currencies. They do and they don't think it's something against their religion.

Also, many things are forbidden in many religions and people still do them and later pray a bit, apologize, confess and keep on living. Rules are made by people and people can break them.

[CarnagexD]

I'm not a muslim myself but given the points that were given by OP, I'd like to offer an outsider's perspective. Bitcoin in and of itself is not haram, as its features as OP have mentioned is permitted under the Islamic Decree, however, certain activities that would use bitcoin, such as gambling, are of course considered haram. So I guess as a Muslim, one should see to themselves that they do not fall under these indulgences.

[tippytoes]

I'm not a muslim myself but given the points that were given by OP, I'd like to offer an outsider's perspective. Bitcoin in and of itself is not haram, as its features as OP have mentioned is permitted under the Islamic Decree, however, certain activities that would use bitcoin, such as gambling, are of course considered haram. So I guess as a Muslim, one should see to themselves that they do not fall under these indulgences.

It really depends on the individual where he wants to use crypto. So whatever form the currency is, fiat, digital or bitcoin, it will be up to the individual how he put this into use. At the end of the day, this is just a form of currency where they can use it to any purpose they want to just like their fiat money. Also, in addition, when you are into crypto, we are not talking about religions here. Because everyone is equal in this technology, no matter what religion, race or status you are in.

[lalabotax]

At first the appearance of Bitcoin, many people said that it is haram because of the negative issues and there are more negative things about BTC.
However, as time passes, I think that it is about the opinion and also the knowledge about Bitcoin itself.
I ever also ask this and even it is in Islam, there are still several differences. But for me, I believe in one of an ustadz (I don't know how to say it in English, he is someone who knows about religion in Islam) statement about the use of cryptocurrency (not only Bitcoin). As long as it is not used for illegal things, gambling, lending, it is no matter.
Actually, we cannot be separated from "riba" from life because the bank also implements interest (riba), and we really cannot avoid this.
And about using it as currency, I think it will depend on country law about it. In Indonesia, cryptocurrency is not legal as a currency or as a payment for transactions. So we cannot do it. But it may be different in other countires.

[Shasha80]

In my personal opinion, as long as Bitcoin is used for good and there are many benefits that we can get, it will not be haram. But there are many
religious expert opinions about Bitcoin, some allow it, and some are prohibiting it. In the end, it comes back to ourselves, if Bitcoin provides many
benefits why don't we use it. I'm just giving my view, so I might as well be wrong. So this should not make people hate each other and become divided.
In my opinion, it depends on ourselves in the end, what Bitcoin is like. If you think it's haram please leave, but do not impose your will, so that others
will follow your wishes.

[Renampun]

Bitcoin is similar to currency, halal or haram depending on how you get it...
if you get Bitcoin by illegal means such as cheating or duplicating from other people then it is haram but if you get Bitcoin from selling something or mining then it is halal.

[KryptoKings]

With Muslims making up a quarter of the world's population, a clear consensus on the Islamic view of Bitcoin has global implications.

In brief

• The use of Bitcoin under Islamic law has been a topic of discussion in recent years, as many Muslims worry that Bitcoin investments may be haram.
• According to recent scholarly interpretations, most general uses for Bitcoin are considered to be permitted in Islam.
• However, gambling, lending, and some kinds of trading with cryptocurrency are almost certainly forbidden.

Whether or not Bitcoin is halal has been a point of contention for many Muslims, as well as several Islamic banks and financial authorities in recent years.

This has left many Muslims worried about investing in cryptocurrencies—particularly during times of extreme growth—since they couldn't be sure whether the appreciation of their investment would be considered haram (forbidden) or halal (permissible) under Islamic law.

With around 1.9 billion Muslims in the world, equivalent to almost a quarter of the world's population, a clear consensus on the Islamic view of Bitcoin could be a major boon for adoption.


Bitcoin is (mostly) halal, say scholars

According to Islamic Law, there are a number of criteria that individuals must adhere to, in order to ensure their investment or other income is considered halal. For one, income obtained through unethical or exploitative means such as bribery, extortion, and profiteering is considered haram. It would be challenging to argue that simply using Bitcoin as a standard payment method would violate this tenet.

As of yet, there are still no clear official guidelines on whether Muslims should or shouldn't invest in Bitcoin. This task would fall on the legislators that codified the religious precepts of Islam, but such an undertaking has yet to be completed. Despite this, a number of Islamic scholars have offered their interpretation of the Islamic Canonical Law and how it applies to Bitcoin.

For more detailed information about this topic visit below the link source

https://decrypt.co/37286/is-bitcoin-halal

If you use Bitcoin for buying/selling or remitting money to someone, it is absolutely halal. Just like you use imps or other methods of sending money.
But if you hoard it, it is not allowed as Islam is against hoarding things. Hoarding gold is not allowed in Islam and we can use same analogy here. Btc is like digital goldwhich doesn't have value on its own.

[Lorence.xD]

Bitcoin is similar to currency, halal or haram depending on how you get it...
if you get Bitcoin by illegal means such as cheating or duplicating from other people then it is haram but if you get Bitcoin from selling something or mining then it is halal.

Now bitcoin is similar to fiat currency, funny how a lot of users in the forum always separate the two but when the interests align, they will say it is the same, kind of hypocritical in my opinion. But the quote above is right bitcoin is just a medium and if you get it without malice or anything that is against the Islamic law then it should be considered halal, the problem is we don't know a lot about Islamic laws so the best thing that we can do about it is to wait for the final verdict.

[kotajikikox]

Sorry for Muslim Brothers and Sisters But since then I do believe that the word Halal/Jalal is only related to Foods , because i often seeing this Label in some foods specially those comes from Muslim countries that's given by friends or family that comes to visit those places.

Just Now that I realized that this is in everything that adopts by Muslim Religion .


But according to the consensus of this thread , It looks like the stand of Muslim community is divided if this Bitcoin is Halal or Not.

[slaman29]

Since when has halal or haram ever stopped any Muslim from doing something they want to or not? Religious fanatics everywhere around the world, Christian or Muslim or Scientologist, I don't think they would ever at the end of it disregard Bitcoin if it is something they don't have a choice on anymore. There are better things to worry about halal/haram.

In Indonesia, cryptocurrency is not legal as a currency or as a payment for transactions. So we cannot do it. But it may be different in other countires.

When has that stopped Indonesians from using crypto? Look at the forum and see how many Indonesians are here;)

[Anonylz]

The use of Bitcoin under Islamic law has been a topic of discussion in recent years, as many Muslims worry that Bitcoin investments may be haram.

I am not trying to discourage people from believing in whatever religion they what but here is one of the reasons I think religions were just created to divide, manipulate and control people. Even when you have your own money, they now want to control on how you can invest it with some funny laws.

Aside from being an asset that can be invested in, Bitcoin can also act as an electronic payment alternative. Besides, what's so different from investing in Bitcoin to investing in Gold, Oil,  Real Estates or Farming?
At the end of it all, everyone is trying to look for more gains.

The difference between investing in btc and other commodities like Gold, oil, Real Estate etc according to the article above is "particularly during times of extreme growth—since they couldn't be sure whether the appreciation of their investment would be considered haram (forbidden) or halal (permissible) under Islamic law"
those other investment options don't experince extremely price pump like btc does and this is a point of concern to the muslim community which is why some find it confusing to invest, in my opinion, i don't think this is enough to be consider as haram but am not a learnerd person in religious matter so i may be wrong.

[semobo]

Sorry for Muslim Brothers and Sisters But since then I do believe that the word Halal/Jalal is only related to Foods , because i often seeing this Label in some foods specially those comes from Muslim countries that's given by friends or family that comes to visit those places.

Just Now that I realized that this is in everything that adopts by Muslim Religion .


But according to the consensus of this thread , It looks like the stand of Muslim community is divided if this Bitcoin is Halal or Not.

Halal is something like what are the things permitted for them to do in their religion which mostly can be seen on the restaurants. But bitcoin is just a currency that is created by someone and controlled by no one so if someone call it as against the Muslim religion then they also should consider the paper money which is printed by the government and said that it is having a particular value.

[tinopener]

With Muslims making up a quarter of the world's population, a clear consensus on the Islamic view of Bitcoin has global implications.

I heavily doubt this.

Do you have any numbers to support this claim? Or is it just your gut feeling?

Bitcoin is based on cryptography, mathematics and physics. Not on religion. No religion has any impact on Bitcoin.

Those numbers include countries where Islam is forced on people, and in many countries there is a death penalty for renouncing it.