Staking is not for Muslims

[KryptoKings]

Staking in crypto is like interest in Fiat.
You lend (stake) your crypto and get reward (interest) for it.
I suggest all my Muslim brother to stay away from this new kind usury.

[goaldigger]

I’m not sure with the Muslim law but does it mean you guys don’t hold as well since it can also be considered as staking over time though profit is not guaranteed when you just hold?

I admire Muslims who are really devoted, and good to their words and actions. This is indeed cryptocurrency is for everyone who wants to use it, I hope that it didn’t stop you from buying and selling.

[blockman]

You're understanding staking in the wrong way. Staking isn't about lending your crypto and earning interest from it. You only have to put your crypto that supports staking into your wallet without doing anything. It's like mining where you only need to hold your coins and that will be the one to validate transactions and confirm them for other people.
(https://academy.binance.com/en/articles/what-is-staking)

[iTradeChips]

You're understanding staking in the wrong way. Staking isn't about lending your crypto and earning interest from it. You only have to put your crypto that supports staking into your wallet without doing anything. It's like mining where you only need to hold your coins and that will be the one to validate transactions and confirm them for other people.
(https://academy.binance.com/en/articles/what-is-staking)

I was actually surprised that the OP is also a hero member himself. I mean why are you even here if you are not already engaged in cryptocurrency activities despite your religious inclinations? You are a hero member which means you have been here for a long time. Unless what I am thinking is correct, you should actually encouraging people your fellow Muslims to uplift their lives by investing and participating in cryptocurrency. The previous fella, has explained staking very well so I should assume that you should understood it completely by now. Each and every person is entitled to their opinion, but in a decentralized society you have no power over other person's decisions in crypto.

[blockman]

You're understanding staking in the wrong way. Staking isn't about lending your crypto and earning interest from it. You only have to put your crypto that supports staking into your wallet without doing anything. It's like mining where you only need to hold your coins and that will be the one to validate transactions and confirm them for other people.
(https://academy.binance.com/en/articles/what-is-staking)

I was actually surprised that the OP is also a hero member himself. I mean why are you even here if you are not already engaged in cryptocurrency activities despite your religious inclinations? You are a hero member which means you have been here for a long time. Unless what I am thinking is correct, you should actually encouraging people your fellow Muslims to uplift their lives by investing and participating in cryptocurrency. The previous fella, has explained staking very well so I should assume that you should understood it completely by now. Each and every person is entitled to their opinion, but in a decentralized society you have no power over other person's decisions in crypto.

That should be it. Telling them that it's another investment that they can earn from since it's a very common investment scheme in crypto. But we shall not intervene if that's what they really think about it. Although they should check and consider first the description of staking before concluding that it's sort of lending. Well, in some exchanges there's that feature and that's what they should avoid.

[shinratensei_]

Learn more as a hero member and it's a big shame for you because you didn't even know the difference between staking and lending.
Staking means you are staking your coin to help the network just like miners, miners being replaced with the stakers that will earn the reward from the fees collected by the network. Lending is a different service.
People have their own decision.

[TimeTeller]

Learn more as a hero member and it's a big shame for you because you didn't even know the difference between staking and lending.
Staking means you are staking your coin to help the network just like miners, miners being replaced with the stakers that will earn the reward from the fees collected by the network. Lending is a different service.
People have their own decision.

With those few posts above, I guess, he should already learn a thing or two about staking.
Maybe he has not staked even one coin so he has no full grasp the use of it.
But anyway, it is good that we are in this forum, exchanging ideas so people will enlighten what they are thinking about a specific topic.
And yes, even if you do have Muslim brothers here, let them decide what they want for their life.
We are in this age, where everyone should be free thinkers already.

[crwth]

When I searched for this topic, I stumbled upon many articles and seen that interest is banned on their finance. So I'm not sure how banks operate in the major Muslim countries, but how do they make money?

Like the other members said, Staking and Lending are different features depending on the coin/token. Maybe specify a more specific scenario?

[Renampun]

Staking in crypto is like interest in Fiat.
You lend (stake) your crypto and get reward (interest) for it.
I suggest all my Muslim brother to stay away from this new kind usury.

I have Muslim friends and I think crypto staking does not violate Muslim norms...
What violates Muslim norms is when a Muslim stakes in fiat money, for example, bank deposits, where the money must be used by the bank for their usury. However, the concept of crypto is different from fiat, so crypto staking does not violate Muslim norms.

[Jawhead999]

They're likely similar but both of them are different, don't confuse between staking and lending.

In simple understanding staking and mining are same, but staking doesn't need huge electricity and costly machine to generate new coin. Staking doesn't make the other person (miner or etc) balance is decreasing.

While lending you don't even need to do anything, what you do is expecting the borrower to pay you more on the agreement and make the borrower balance is decreasing.

Before you want to jump in cryptospace, you may need to think cryptocurrency is speculative. Muslim law are prohibited of any kind speculation things.

[Genemind]

I am surprised, this is the first time I saw a post about crypto being related or connected to religion. If you stake you don't actually lend your coin/token, you hold it in a certain wallet where it would gain a certain interest in a period. I am not familar about muslim law and religious belief, but if you think it is against your belief, feel free to stay away from it.

[jrrsparkles]

Staking in crypto is like interest in Fiat.
You lend (stake) your crypto and get reward (interest) for it.
I suggest all my Muslim brother to stay away from this new kind usury.

So no muslims are investing in stocks and getting their dividends and there is no muslim country allowing the people to buy the stocks of their oil companies and paying dividends?

Stupidity to the core.

[tsaroz]

Religion and Haram and Halal in Islam are always influenced by people and time. Middle-east once was a center of science and technology, early Muslim text are filled with brewing techniques and praises about alcohol, women had a much prominent role in the family and it all co-existed with Islam. But with change in leaders and their preferences, there's no more place for those things.

[Strongkored]

Staking in crypto is like interest in Fiat.
You lend (stake) your crypto and get reward (interest) for it.
I suggest all my Muslim brother to stay away from this new kind usury.

As already mentioned by several members here, staking and lending are different. If the purpose of your post is to give a warning to other members who are also Muslims, you should also include such a reference to the verse in your holy book, so that what you say becomes stronger.

[killerfrost]

Sorry but I don't understand your religion, but how does it affect the thinking that the OP might say such things. It seems that you are misunderstanding your own problem, what is staking? OP, do you really understand it? I realize that people are judging you rather than agreeing with your point of view in this space.

[babaner]

As a muslim I have to give a counterreply.

The idea of staking is in my opinion much better because the even if it is a lesser evil, it is a lesser evil which nullifies the greater evil and that is big banks.
So in order to clarify this, I believe that PoS will eventually give less fundings to big banks who do use the money for things like usury and even other non religious but immoral things like bribing, corruption and so forth. The more decentralised our funds get, the better for everyone and that even includes muslims.

Now thirdly, why is this a wrong thing to post? Because you are not a scholar, and why that matters is due to the fact that this issue is very new, so saying its haram or halal is actually haram because there is barely any Ijma (Consensus) among islamic scholar on crypto, because the issue is so modern.

Now lastly, here is however an article made by a mufti and some imams.

https://islamqa.org/hanafi/daruliftaa-birmingham/136838

And they conclude that investing in bitcoin and profiting from it is halal, but that they should be very wary of the currency because at the time of the article, crypto was not yet a independently and legally accepted currency, and it still is not to some extent. The reason for that is because Islamic laws dictates that there needs to be inherent accepted value to a currency in order to prevent scams and such things, which is totally fair and actually what any reasonable mind would think.

[KryptoKings]

I’m not sure with the Muslim law but does it mean you guys don’t hold as well since it can also be considered as staking over time though profit is not guaranteed when you just hold?

By holding in wallet, you don't get any surplus tokesn. So it is allowed

You're understanding staking in the wrong way. Staking isn't about lending your crypto and earning interest from it. You only have to put your crypto that supports staking into your wallet without doing anything. It's like mining where you only need to hold your coins and that will be the one to validate transactions and confirm them for other people.
(https://academy.binance.com/en/articles/what-is-staking)

You give your coins to validators who pay you for that. Similar to you give your money to Banks and they pay you interest.

You're understanding staking in the wrong way. Staking isn't about lending your crypto and earning interest from it. You only have to put your crypto that supports staking into your wallet without doing anything. It's like mining where you only need to hold your coins and that will be the one to validate transactions and confirm them for other people.
(https://academy.binance.com/en/articles/what-is-staking)

I was actually surprised that the OP is also a hero member himself. I mean why are you even here if you are not already engaged in cryptocurrency activities despite your religious inclinations? You are a hero member which means you have been here for a long time. Unless what I am thinking is correct, you should actually encouraging people your fellow Muslims to uplift their lives by investing and participating in cryptocurrency. The previous fella, has explained staking very well so I should assume that you should understood it completely by now. Each and every person is entitled to their opinion, but in a decentralized society you have no power over other person's decisions in crypto.

I am also surprised that like most people here, you also didn't understand my post properly. I didn't say crypto is Haram in Islam. I said not to stake. Though one can buy and sell any crypto because that's a different think then staking them.

Learn more as a hero member and it's a big shame for you because you didn't even know the difference between staking and lending.
Staking means you are staking your coin to help the network just like miners, miners being replaced with the stakers that will earn the reward from the fees collected by the network. Lending is a different service.
People have their own decision.

Staking may not works just like lending but both pays you interest.

Before you want to jump in cryptospace, you may need to think cryptocurrency is speculative. Muslim law are prohibited of any kind speculation things.

Muslims should stay away from speculation but that doetmakes crypto prohibited.
Similar one can buy, sell and hold any coins, just do not stake them.

Staking in crypto is like interest in Fiat.
You lend (stake) your crypto and get reward (interest) for it.
I suggest all my Muslim brother to stay away from this new kind usury.

So no muslims are investing in stocks and getting their dividends and there is no muslim country allowing the people to buy the stocks of their oil companies and paying dividends?

Stupidity to the core.

Please first learn the difference between dividend and interest before calling someone stupid.

As a muslim I have to give a counterreply.

The idea of staking is in my opinion much better because the even if it is a lesser evil, it is a lesser evil which nullifies the greater evil and that is big banks.
So in order to clarify this, I believe that PoS will eventually give less fundings to big banks who do use the money for things like usury and even other non religious but immoral things like bribing, corruption and so forth. The more decentralised our funds get, the better for everyone and that even includes muslims.

I am not against decentralization. If I am not liking one feature of something don't imply I am against whole as well

Now thirdly, why is this a wrong thing to post? Because you are not a scholar, and why that matters is due to the fact that this issue is very new, so saying its haram or halal is actually haram because there is barely any Ijma (Consensus) among islamic scholar on crypto, because the issue is so modern.

In the absense of ijma can we do Ijtihaad?.
That is my Ijtihaad.

https://islamqa.org/hanafi/daruliftaa-birmingham/136838[/url]

And they conclude that investing in bitcoin and profiting from it is halal, but that they should be very wary of the currency because at the time of the article, crypto was not yet a independently and legally accepted currency, and it still is not to some extent. The reason for that is because Islamic laws dictates that there needs to be inherent accepted value to a currency in order to prevent scams and such things, which is totally fair and actually what any reasonable mind would think.

Man again I am not against crypto and am aware of those rulings.

[leea-1334]

Thank god I do not have to compete with 1/6th of the world now to stake my coins, phew! But then wait,,, is it not also illegal for many other religions?

But seriously, how anyone could see staking and PoS rewards as equivalent to usury, for me begs wonderment. Need to check up on your definitions,,, dear mullah OP;)

[kenelmark]

Staking in crypto is like interest in Fiat.
You lend (stake) your crypto and get reward (interest) for it.
I suggest all my Muslim brother to stay away from this new kind usury.

Yes, thank you for this very valuable warning because I am also a Muslim here and as long as I am in crypto, I always avoid programs that smell of usury and that smell of gambling, so that I don't like games, betting, and also stake.

[GreatArkansas]

OMG, I am surprised by this. We all know that staking is also like gambling since you cannot be guaranteed sometimes profits, there are also some staking that needed pools and some may result in impermanent losses, then it is still Haram.
It's kinda confusing for some since there are a lot of ways that are kinda doing gambling, just like buying cryptocurrencies or stocks, but as far as I know, it is NOT haram but at the same time it is like gambling since you may also lose your money.

[rozak]

In fact, this is tantamount to putting your money in the bank in a certain amount and getting compensation for the money that you put into the bank every month.
If you were compensated by the savings you had, would you refuse the money?
just do it, if you fear sin. then you can give the money to the mosque. it will be more useful than you have to question it.
trading on an exchange is also like gambling. Do you do that?

[Fundamentals Of]

Not a muslim here. Neither have I studied muslim laws and beliefs but if this is true it is very weird. If this is true and if all muslims are strictly adhering to this, does this mean there are no lenders among muslims? Does this also mean there are no loans, credits, and so many other forms of investments which involve letting others borrow money temporarily for a certain interest together with the payment?

But staking is not lending. Others have already mentioned this. Staking is not letting others use your crypto. It is for validation purposes.

[Botnake]

So lending is prohibited in Islam (muslim religion) ?

I'm not a muslim so I would not know but I believe that Muslims are very obedient with their God and their law, therefore if it's against their law, they should not do it. I think I need to make a research on this, it's quite interesting because personally I don't think that lending is against the law since I know some muslim friends who borrow money from lending company, so how is it different?

[k@suy]

Sorry but I don't understand your religion, but how does it affect the thinking that the OP might say such things. It seems that you are misunderstanding your own problem, what is staking? OP, do you really understand it? I realize that people are judging you rather than agreeing with your point of view in this space.

I didn't think so that staking should belong only on a specific religion. We should have a proper and fair point of view for each and everyone whatever may the religion they are belong. Also, in fact the blockchain of cryptocurrency doesn't stated that staking or trading shouldn't belong to our muslim brotherhood. I am not a muslim, but i guess this thread only leads to a descrimination that in the first place shouldn't be an issue here.

[michellee]

I can not say too much about this matter because every people will have their own decision. And about Halal and Haram, I think that is very risky to discuss because that can trigger to become a long debate. If people know about Halal and Haram, they will not try to use staking, and they will figure out how to make money from other things. So let people decide what they do about staking.

[bassbity]

how is the real concept of usury?
because if you refer to interest in a straight line it would seem forbidden to Muslims. however usury also has certain characteristics. to generalize just for the sake of having interest is clearly very imprecise.
because this discussion is quite narrowed into the realm of religion, so I will not be too broad. it is very vulnerable and also regarding the law added to our expertise in the field of religion.

maybe you can give us a little discussion regarding what usury is and also transactions that are included in the realm of usury types.

[mamesso]

Staking in crypto is like interest in Fiat.
You lend (stake) your crypto and get reward (interest) for it.
I suggest all my Muslim brother to stay away from this new kind usury.

Honestly, I just came across topics like this that discuss religious elements. To my knowledge, Islam strictly prohibits usury, and the law is haram. After reading this topic, the question arose in my heart, Does it belong to the category of usury if a trader is risking their money with the aim of getting the profit?

[republicrypto]

Staking in crypto is like interest in Fiat.
You lend (stake) your crypto and get reward (interest) for it.
I suggest all my Muslim brother to stay away from this new kind usury.

my friend, i think you don't understand about staking

Staking is the process of actively participating in transaction validation (similar to mining) on a proof-of-stake (PoS) blockchain. On these blockchains, anyone with a minimum-required balance of a specific cryptocurrency can validate transactions and earn Staking rewards.

you can read this article to understand more about staking and how does staking work
https://help.coinbase.com/en/coinbase/trading-and-funding/staking/staking-on-coinbase
and in my opinion all muslims can stake their coins
regards

[Ucy]

Staking in crypto is like interest in Fiat.
You lend (stake) your crypto and get reward (interest) for it.
I suggest all my Muslim brother to stay away from this new kind usury.

I thought only lending money to people for interest isn't permitted by Islam?

Wonder what Muslims think about "Holding" to earn from increase in price of coin in the future. That feels more moral than typical staking.

[zasad@]

KryptoKings, do you have an Islamic financial education?

By holding in wallet, you don't get any surplus tokesn. So it is allowed

I think that Muslims will not keep coins like porno coin in their wallet. It turns out that not all coins and tokens are allowed by Sharia law?

Explain the difference between POS mining and staking?
Several investors decided to organize a node.
They bought or rented a server, set up a node on it, and receive a reward as node owners. The node does some work on the network, so the profit is reasonable.
If the node does not work, then you will not receive profit.
It is allowed?

What do you think about the work of pools such as Uniswap?
You provide liquidity and receive a reward for it

[mdzahed134]

Staking in crypto is like interest in Fiat.
You lend (stake) your crypto and get reward (interest) for it.
I suggest all my Muslim brother to stay away from this new kind usury.

Muslim religion interest in Fiat or bank is completely haram. Actually staking is just like interest on Fiat which is seems to muslims community as Haram. Staking with apy just on kind of interest.

Yeah, if i'm not wrong if you will get a certain amount of money without any losses instead of your holding money that is interest and definitely it will Haram. I'm a little bit confusing about staking and usury although staking it’s seem without doing anything will be profit but if cryptocurrency isn’t stable so for staking will not be profit always.

[Om.monata]

why take issue with religion in crypto? I think anyone can do. So my advice is never to mix religion with crypto, you do your own work. crypto was created not for certain circles, but for all humans on earth. don't do these talks to Muslims. this includes racism

[DarkDays]

Staking in crypto is like interest in Fiat.
You lend (stake) your crypto and get reward (interest) for it.
I suggest all my Muslim brother to stay away from this new kind usury.

By that logic you shouldn't be in crypto either. As the profit you make is from other peoples' losses (this is if the market doesn't shoot up overall). And what about bank interest rates? How do you deal with that, do you give the money to charity?

[coinswebid]

Staking in crypto is like interest in Fiat.
You lend (stake) your crypto and get reward (interest) for it.
I suggest all my Muslim brother to stay away from this new kind usury.

staking in crypto is completely different with interest in fiat mate
you should understand about how staking work first before you wrote about this thread buddy
i saw few people's gave you a good link to read about staking, please read more about that my friend

[Traderbtcc]

Staking in crypto is like interest in Fiat.
You lend (stake) your crypto and get reward (interest) for it.
I suggest all my Muslim brother to stay away from this new kind usury.

And since when did staking in crypto become a religious thing?, I don't know about the Muslim laws though, but is there any laws that says you guys should not earn money? cause that's exactly how this sounds like, I'm a Christian and I don't see anything wrong with making profits from staking, nothing bad in upholding the Muslim laws, but I think you are getting it all wrong, regardless of which religion you are staking is for everyone, I don't see any bad thing about it.

[KryptoKings]

KryptoKings, do you have an Islamic financial education?

By holding in wallet, you don't get any surplus tokesn. So it is allowed

I think that Muslims will not keep coins like porno coin in their wallet. It turns out that not all coins and tokens are allowed by Sharia law?

Explain the difference between POS mining and staking?
Several investors decided to organize a node.
They bought or rented a server, set up a node on it, and receive a reward as node owners. The node does some work on the network, so the profit is reasonable.
If the node does not work, then you will not receive profit.
It is allowed?

What do you think about the work of pools such as Uniswap?
You provide liquidity and receive a reward for it

Islamic Financial education?? What's that?
Yes of course any gambling and porn coins are haram but every muslim know it is haram.
It is staking that is confusing as they do not consider it as interst.

[DU18]

Staking in crypto is like interest in Fiat.
You lend (stake) your crypto and get reward (interest) for it.
I suggest all my Muslim brother to stay away from this new kind usury.

Yes, thank you for this very valuable warning because I am also a Muslim here and as long as I am in crypto, I always avoid programs that smell of usury and that smell of gambling, so that I don't like games, betting, and also stake.

Gambling, porn and usury are the most hated things in Islam and of course those of us who are unfamiliar with Islamic law are certainly not allowed to say something that is not really an expert in that matter, so it is better for us to do what we think is right and leaving what has been forbidden, indeed in Islam it is forbidden to give loans by asking for rewards (interest), but we should indeed wait for the fatwas issued by scholars who are experts in Islamic law, including about crypto staking today.

[blockman]

You're understanding staking in the wrong way. Staking isn't about lending your crypto and earning interest from it. You only have to put your crypto that supports staking into your wallet without doing anything. It's like mining where you only need to hold your coins and that will be the one to validate transactions and confirm them for other people.
(https://academy.binance.com/en/articles/what-is-staking)

You give your coins to validators who pay you for that. Similar to you give your money to Banks and they pay you interest.

You're looking at it as similar to the banks but coming from you, it's about being paid by being a validator. You get money from being a validator, not being a lender.
Similar isn't entirely the same as what you say but just look like but the process is different from what you're speculating.

[DoublerHunter]

Staking in crypto is like interest in Fiat.
You lend (stake) your crypto and get reward (interest) for it.
I suggest all my Muslim brother to stay away from this new kind usury.

^ Definitely right buddy, our brothers, and sisters think this is a part of gambling which is really prohibited in the Islam culture.
There is a long debuted or argument with cryptocurrencies on Islam, they did not accept this as an investment because, for them, this is most likely a part of gambling because you are risking your money. I am half Muslim but I am still engaged in crypto, probably if there is someone who will ask me, I will not reveal that I investing and staking or even using BTC.

[zasad@]

KryptoKings, do you have an Islamic financial education?

By holding in wallet, you don't get any surplus tokesn. So it is allowed

I think that Muslims will not keep coins like porno coin in their wallet. It turns out that not all coins and tokens are allowed by Sharia law?

Explain the difference between POS mining and staking?
Several investors decided to organize a node.
They bought or rented a server, set up a node on it, and receive a reward as node owners. The node does some work on the network, so the profit is reasonable.
If the node does not work, then you will not receive profit.
It is allowed?

What do you think about the work of pools such as Uniswap?
You provide liquidity and receive a reward for it

Islamic Financial education?? What's that?
Yes of course any gambling and porn coins are haram but every muslim know it is haram.
It is staking that is confusing as they do not consider it as interst.

In the absense of ijma can we do Ijtihaad?.
That is my Ijtihaad.

To publish Ijtihaad you need to be a famous Islamic scholar and have a Sharia education. So I asked about your education.

"1.Therefore, knowledge of the Arabic language with all its grammatical and lexical "subtleties" was the first condition for ijtihad

2.The second condition is knowledge of the Koran by heart, the ability to interpret it grammatically and in meaning, knowledge of all the circumstances of the appearance of both whole suras and individual verses.

3.The third condition is knowledge of the sunnah and commentaries to it with knowledge of hadiths (up to 3 thousand) by heart.

4.The fourth condition is knowledge of the circumstances of the addition of a concordant opinion and discrepancy (ichtilaf) on the main issues of fiqh.

5.Fifth - possession of the method of interpreting legal materials"

sourse

If you do not meet these criteria, then you cannot publish Ijtihaad.

I agree that staking on the crypto exchange is haram, because your income is not justified and you do not do any work.
And about POS mining( where it is necessary to stake coins), I have no final opinion. One of the arguments is that the miner's income is justified because it does the job.
I have no Islamic education, so these are my thoughts, which may be wrong.

If you are a Sharia scholar, then expand the topic completely.

[coin-investor]

Yes, you are you just posted

Staking in crypto is like interest in Fiat.
You lend (stake) your crypto and get reward (interest) for it.
I suggest all my Muslim brother to stay away from this new kind of usury

 I am not a Muslim but it will take one knowledgeable in Quran like an Imam for an interpretation of why staking is not good for our Muslim brothers, this is a sensitive issue if you are an Imam and you have an article written by one knowledgeable in Muslim law that clearly states that then I will rest my case.

[Why you bully me]

Staking in crypto is like interest in Fiat.
You lend (stake) your crypto and get reward (interest) for it.
I suggest all my Muslim brother to stay away from this new kind usury.

Some say crypto is also not halal? what do you think ?

[Fundamentals Of]

KryptoKings, do you have an Islamic financial education?

By holding in wallet, you don't get any surplus tokesn. So it is allowed

I think that Muslims will not keep coins like porno coin in their wallet. It turns out that not all coins and tokens are allowed by Sharia law?

Explain the difference between POS mining and staking?
Several investors decided to organize a node.
They bought or rented a server, set up a node on it, and receive a reward as node owners. The node does some work on the network, so the profit is reasonable.
If the node does not work, then you will not receive profit.
It is allowed?

What do you think about the work of pools such as Uniswap?
You provide liquidity and receive a reward for it

Islamic Financial education?? What's that?
Yes of course any gambling and porn coins are haram but every muslim know it is haram.
It is staking that is confusing as they do not consider it as interst.

You know what is confusing to me? It is that you guys are trying to look at all things using the lens of religion. What if Islam doesn't really have anything to say about PoS? What if Islam is completely blind about staking? What if Islam really doesn't have instructions and rules on all things in life, especially ones which involve the latest financial technologies?

I think you are all subjectively interpreting things and forcing them to fit to your religious beliefs.

[kaya11]

I don't know much of Muslim laws in the field of finance. We have a small business, buying and selling of cosmetic products, my sister-in-law invested money on us and they are gaining profits, dividends every month. The thing is they can get their money back full, and I think it's nearly same as staking. By the way her (in-laws) husband had degrees of Muslim studies and he knows about this. So I guess their are certain rules, and we must not judge on one-sided basis, showing proofs are also welcome as their are many Muslim brothers and sisters fond of crypto currencies, and I know some of them personally.

[zasad@]

You know what is confusing to me? It is that you guys are trying to look at all things using the lens of religion. What if Islam doesn't really have anything to say about PoS? What if Islam is completely blind about staking? What if Islam really doesn't have instructions and rules on all things in life, especially ones which involve the latest financial technologies?

I think you are all subjectively interpreting things and forcing them to fit to your religious beliefs.

No wonder. You are reading the dialogue of users, most of whom have no knowledge of Islamic finance.
There is no subjective interpretation in Islam. I wrote above what are the minimum requirements you need to have in order to answer questions and draw conclusions.
If you read the opinions of Islamic scholars, then for each conclusion you will find a list of proofs that this scholar was guided by.
To become a scientist, you have to study all your life.
The Islamic financial system is the most progressive in the world, if you compare it with other religious systems, you will not find detailed interpretations in them.

[Hasan986]

Stacking is haram for Muslims. Stacking follows a kind of bank interest rules. Interest is forbidden for Muslims. However, if a project pays dividends, it is halal. But if there is a loss, he has to take his share.

[bitkanu]

Staking in crypto is like interest in Fiat.
You lend (stake) your crypto and get reward (interest) for it.
I suggest all my Muslim brother to stay away from this new kind usury.

The advantage of staking is not interest like in the bank. The profit from staking is the revenue from the profits of a company which is distributed to token holders. It's the same as buying company stock in the real world.

I don't think there is any difference between staking and interest because in both the cases you will get fixed amount of money back and this is interest.
Buying a company share is somewhat different because there is no grantee of the returns and you can lose the money in case the shares of the company goes down.

If there's no guarantee for the return of your money and that means you are also speculating it. If you guys keep the debate about this and it might need 100 years or even more to draw the conclusion.
Anyone has their own opinion about that.

[bitterguy28]

Staking in crypto is like interest in Fiat.
You lend (stake) your crypto and get reward (interest) for it.
I suggest all my Muslim brother to stay away from this new kind usury.

Is that really the rules In muslim culture ? you are not allowed to Lend with interest ? anyway lets look at the brighter side.

______________________________
____________________________________________

This is not the same in Interest in Fiat because here you are not lending someone instead you are just letting them use your funds as what like Business is running.

So in time that the Business get profit you as capitalist will gain your percentage so how come that this is an interest in Fiat?

you should look in the real side of this and not just in what you are thinking.

[Botnake]

Staking in crypto is like interest in Fiat.
You lend (stake) your crypto and get reward (interest) for it.
I suggest all my Muslim brother to stay away from this new kind usury.

Is that really the rules In muslim culture ? you are not allowed to Lend with interest ? anyway lets look at the brighter side.

I read some article saying that borrowing or lending with interest is a sin.

here it is https://www.nytimes.com/2005/08/07/realestate/for-muslims-loans-for-the-conscience.html

To buy his first home, Mr. Khan had quietly but deliberately violated Islamic laws that bar Muslims from paying or receiving interest on loans.

Guess it's really a sin or a tradition, but I believe it's not a mortal sin though.

[thenextking]

Staking in crypto is like interest in Fiat.
You lend (stake) your crypto and get reward (interest) for it.
I suggest all my Muslim brother to stay away from this new kind usury.

What is Muslims?

[jrrsparkles]

Please first learn the difference between dividend and interest before calling someone stupid.

Yeah I am the stupid, and some muslim say that crypto itself is haram then why talking about the staking anyway.

[shoreno]

Stacking is haram for Muslims. Stacking follows a kind of bank interest rules. Interest is forbidden for Muslims. However, if a project pays dividends, it is halal. But if there is a loss, he has to take his share.

staking you mean ? because stacking has also its different meaning and why is interest forbidden and dividends arent when i think both are the same because you are being paid by a money but few members already explain the staking properly and its not like a lending that you are earning an interest but its a clean profit you get so staking shouldnt be illegal for muslims but most muslims are already rich so its not really a big deal for them if some earning oppurtunities are excluded .

[Davian144]

Staking in crypto is like interest in Fiat.
You lend (stake) your crypto and get reward (interest) for it.
I suggest all my Muslim brother to stay away from this new kind usury.

What is Muslims?

Muslims are a group of people who adhere to a certain religion and in this case it is aimed at Islam, so these Muslims are not suitable to join the staking program because it is considered usury, and usury in Islamic law is haram, so the OP prohibits Muslims from joining the staking program does not approach staking because it is usury in Islamic law.

[Fesatmas]

why take issue with religion in crypto? I think anyone can do. So my advice is never to mix religion with crypto, you do your own work. crypto was created not for certain circles, but for all humans on earth. don't do these talks to Muslims. this includes racism

That's right, we just need tolerance and mutual respect. there is no need to go too deeply into the realm of religious law if you do not fully acknowledge it. how much better about usury or not, one must ask an expert in that field. here we do not want to debate syara law. then it would be beautiful when all respected every difference of viewpoint and carried out the law based on belief.
I am a Muslim, but for the category in law related to principles and fundamentals, I don't think it needs to be brought into the realm of crypto. Even with the same title, namely transactions, but all have laws that always provide relief. the law does not all look haram and prohibited. sometimes we forget trivial things even though they are clearly haram, but we are always busy with things that look big without even glancing at the activities around us.

[Distinctin]

Staking in crypto is like interest in Fiat.
You lend (stake) your crypto and get reward (interest) for it.
I suggest all my Muslim brother to stay away from this new kind usury.

What is Muslims?

Muslims are a group of people who adhere to a certain religion and in this case it is aimed at Islam, so these Muslims are not suitable to join the staking program because it is considered usury, and usury in Islamic law is haram, so the OP prohibits Muslims from joining the staking program does not approach staking because it is usury in Islamic law.

Nice explanation, and I truly agree with that, if you are a real muslim, you should abide the law and live with peace. However, I do believe that there are muslims who are violating this, so hopefully they'll realize that the law is very important and it should be followed.

I'm not a muslim and this is not against in our teaching, but I will respect my muslim brothers here.

[mamesso]

Nice explanation, and I truly agree with that, if you are a real muslim, you should abide the law and live with peace. However, I do believe that there are muslims who are violating this, so hopefully they'll realize that the law is very important and it should be followed.

As Muslims who adhere to the teachings of their religion, they will always comply with legal provisions that are clearly prohibited, in this case usury. Even though there are still violators, it's his business with his god.

I'm not a muslim and this is not against in our teaching, but I will respect my muslim brothers here.

Thank you for the tolerance, even though we here have differences in belief, but mutual respect will always lead to lasting peace.

[Fundamentals Of]

You know what is confusing to me? It is that you guys are trying to look at all things using the lens of religion. What if Islam doesn't really have anything to say about PoS? What if Islam is completely blind about staking? What if Islam really doesn't have instructions and rules on all things in life, especially ones which involve the latest financial technologies?

I think you are all subjectively interpreting things and forcing them to fit to your religious beliefs.

No wonder. You are reading the dialogue of users, most of whom have no knowledge of Islamic finance.
There is no subjective interpretation in Islam. I wrote above what are the minimum requirements you need to have in order to answer questions and draw conclusions.
If you read the opinions of Islamic scholars, then for each conclusion you will find a list of proofs that this scholar was guided by.
To become a scientist, you have to study all your life.
The Islamic financial system is the most progressive in the world, if you compare it with other religious systems, you will not find detailed interpretations in them.

But are not all these interpretations also? Whether they are scholars or not, they are interpreting. This means that whatever interpretations they come up with, these are all subject to human error, bias, and prejudice. I am sure the old writings of the religion of Islam does not provide outright instructions particularly on cryptocurrency, Bitcoin, blockchain, staking, etc. I am also quite sure that within these topics, disagreements among experts and scholars exist.

[bitbollo]

staking is also a way that is used for have "security" in a blockchain and processing block/transactions.
What about from this point of view? I am not muslim so It can be wrong....
Moreover there are some coins that provide a very little income (more or less a 1% yearly). This is an amount like yearly inflation...

[worldofcoins]

Staking in crypto is like interest in Fiat.
You lend (stake) your crypto and get reward (interest) for it.
I suggest all my Muslim brother to stay away from this new kind usury.

But why are telling muslim brothers of yours this?
I don’t think it’s bad if they’re making good money out of it which is in a legal way.

Can you state that exact reasons to why you’re proposing this request?

[paxmao]

I think this is open for interpretation. Firstly, it depends on what you consider core to your beliefs and the bit about lending may not be strictly taken by many of your bros. On top of that, while you do get a yield from staking, is not a payment for a lending and that is something that is not well understood:

Staking means that you are providing a counterpart to a possible malicious attack on a network by making economic stake on the truthfulness of the node's computation and transactions veracity. This is NOT lending, this is providing a service consisting of ensuring the safety of a network and you get paid for it.

A different thing is to consider it a bad or a good business.

[bitgov]

Staking in crypto is like interest in Fiat.
You lend (stake) your crypto and get reward (interest) for it.
I suggest all my Muslim brother to stay away from this new kind usury.

OP please come with strong evidence that it's not for Muslims and not allowed in Islam. There is nothing wrong in lending someone money and fixing a profit on that lending.

[masulum]

Staking means that you are providing a counterpart to a possible malicious attack on a network by making economic stake on the truthfulness of the node's computation and transactions veracity. This is NOT lending, this is providing a service consisting of ensuring the safety of a network and you get paid for it.

Your explanation is very clear, so I think this topic has found the answer and has also been discussed by members in the comments on the previous page. In staking, we create new money, and this is not interest. Maybe they think this is haram because many projects call it interest, but it is not the case. The intended of interest is a reward. This reward is given because the owner of the coin helps the coin network more save, So, this is not interest but like salaries for your works.

[Golftech]

I think this is open for interpretation. Firstly, it depends on what you consider core to your beliefs and the bit about lending may not be strictly taken by many of your bros. On top of that, while you do get a yield from staking, is not a payment for a lending and that is something that is not well understood:

You are right, this is really an open interpretations and for sure there are always two sides of

understanding, we can't force anyone from thier views about this matter.

Staking means that you are providing a counterpart to a possible malicious attack on a network by making economic stake on the truthfulness of the node's computation and transactions veracity. This is NOT lending, this is providing a service consisting of ensuring the safety of a network and you get paid for it.

A different thing is to consider it a bad or a good business.

This is a good explanation especially to those who wanted to understand more deeper in terms
of staking, you are providing service to the entire chain, you are not just letting your money to
work for you and collect your profits but you are also helping the entire system to make sure that
the flow is smoothly moving accordingly.

[criket]

Staking in crypto is like interest in Fiat.
You lend (stake) your crypto and get reward (interest) for it.
I suggest all my Muslim brother to stay away from this new kind usury.

OP please come with strong evidence that it's not for Muslims and not allowed in Islam. There is nothing wrong in lending someone money and fixing a profit on that lending.

OP thinks staking tokens or coins on the multiple platforms that provide the system is the same as lending money to people and asking for bigger returns.
The bank has also adopted a system like that which the OP might think of as interest on the money we put in the bank.
I think some sharia-based banks also adopt a similar system. but they call it profit-sharing from the money they put in the bank.
what sets them apart?
does the OP still keep the money in a piggy bank? or does he keep all his money under his bed?
I think stake is not interesting, stake is a reward given to participants who take part in a program.

[mamesso]

~snip~ There is nothing wrong in lending someone money and fixing a profit on that lending.

Indeed there is nothing wrong in lending money to someone, if the lender does not require the borrower to pay more than the nominal loaned. For example like this, someone lends money with a value of $100, and sues the borrower to pay $120, if there is such a demand, it will be said to be usury in Islam.

[KryptoKings]

Staking in crypto is like interest in Fiat.
You lend (stake) your crypto and get reward (interest) for it.
I suggest all my Muslim brother to stay away from this new kind usury.

Yes, thank you for this very valuable warning because I am also a Muslim here and as long as I am in crypto, I always avoid programs that smell of usury and that smell of gambling, so that I don't like games, betting, and also stake.

Gambling, porn and usury are the most hated things in Islam and of course those of us who are unfamiliar with Islamic law are certainly not allowed to say something that is not really an expert in that matter, so it is better for us to do what we think is right and leaving what has been forbidden, indeed in Islam it is forbidden to give loans by asking for rewards (interest), but we should indeed wait for the fatwas issued by scholars who are experts in Islamic law, including about crypto staking today.

And until such fatwas are issued, what should we do? Continue dealing in all cryptos?. I would prefer to be on safer side and stay away from it.
No fatwa can make halal thing haram Or vice versa.

[tygeade]

I live in a nation that has a lot of Muslims and I can say that they do not care about this at all. There are some "sacred" stuff that they try not to do, like maybe eating pork, because that doesn't really change their life that much, hell I can eat pork and I do not even like it, but when it comes to making money, they do not care about it, here they call it "profit sharing" and still do it, it is same thing as interest and just a different name and they still do it, so basically it is all about what others would say, as long as others do not hear about it, they would be willing to do whatever they can.

I have seen way too many things they have done that is a sin in Islam, but I have seen many many Christians do it too, so it is not really about the religion, it is about people and we as humans are not fine with being told what we can or can't do.

[KryptoKings]

You know what is confusing to me? It is that you guys are trying to look at all things using the lens of religion. What if Islam doesn't really have anything to say about PoS? What if Islam is completely blind about staking? What if Islam really doesn't have instructions and rules on all things in life, especially ones which involve the latest financial technologies?

I think you are all subjectively interpreting things and forcing them to fit to your religious beliefs.

No wonder. You are reading the dialogue of users, most of whom have no knowledge of Islamic finance.
There is no subjective interpretation in Islam. I wrote above what are the minimum requirements you need to have in order to answer questions and draw conclusions.
If you read the opinions of Islamic scholars, then for each conclusion you will find a list of proofs that this scholar was guided by.
To become a scientist, you have to study all your life.
The Islamic financial system is the most progressive in the world, if you compare it with other religious systems, you will not find detailed interpretations in them.

It has nothing to do with technology. It is about how it is used. Like using a mobile or laptop is not haram per se but watching porn on them is haram.
Similarly if validator stakes, he is (to some extent) allowed but if you deligate you coins and stake, you are actually lending ( no matter what term you use) him your coins to perform a task and in return he will give you some amount of coins. The problem here is your number of coins you stake remain safe. There is no risk of losing them.

[semobo]

I live in a nation that has a lot of Muslims and I can say that they do not care about this at all. There are some "sacred" stuff that they try not to do, like maybe eating pork, because that doesn't really change their life that much, hell I can eat pork and I do not even like it, but when it comes to making money, they do not care about it, here they call it "profit sharing" and still do it, it is same thing as interest and just a different name and they still do it, so basically it is all about what others would say, as long as others do not hear about it, they would be willing to do whatever they can.

I have seen way too many things they have done that is a sin in Islam, but I have seen many many Christians do it too, so it is not really about the religion, it is about people and we as humans are not fine with being told what we can or can't do.

When people misunderstood the what is the purpose of such rule will stop blocking any developments. In the past people used to collect insane amount of interest from the people which is unbearable at that time but now everything organized into a system so its okay to take loans and pay the interest because not everyone in this world can live on their savings alone in the fast moving world.

[Distinctin]

Nice explanation, and I truly agree with that, if you are a real muslim, you should abide the law and live with peace. However, I do believe that there are muslims who are violating this, so hopefully they'll realize that the law is very important and it should be followed.

As Muslims who adhere to the teachings of their religion, they will always comply with legal provisions that are clearly prohibited, in this case usury. Even though there are still violators, it's his business with his god.

I understand that and I understand how strict the law of Muslim.
In our country, the law of the church and the law of the state is different as I don't live in a Muslim country although we have muslim brothers in our country.

I'm not a muslim and this is not against in our teaching, but I will respect my muslim brothers here.

Thank you for the tolerance, even though we here have differences in belief, but mutual respect will always lead to lasting peace.

Of course, that's all I can give to my brothers here.

[illnino]

I am surprised by such statements. Do you think it is really necessary to put your religious beliefs on the public display? Everyone is indifferent to the views, principles of other people. Here everyone discusses the problems and issues related to the crypto world, the rise or fall of the exchange rate, the change of crypto seasons. I don't know why we should care about someone's religion. But even if you can't place bets because of your faith, why are you posting threads on a forum dedicated to this?

[justdimin]

Staking in crypto is like interest in Fiat.
You lend (stake) your crypto and get reward (interest) for it.
I suggest all my Muslim brother to stay away from this new kind usury.

Well I am not against your belief. If you think staking is totally wrong according to your belief, then there is nothing wrong with staying away from it so that you don’t commit something wrong. Although I’m yet to understand the Muslim’s belief, but this is not the first time I am seeing this kind of comment, because I’ve seen someone who refused to make use of savings app just because they give interest on the Savings you make.

So I’m guessing this belief of Muslims prohibits them from investments, and since HODL’ing Bitcoin is also an investment, you shouldn’t be holding it I guess?Although I don’t see anything wrong with staking, and moreover the interest is just around 4%, and that aside , you’re not the one lending the money.

[DU18]

if we continue to debate the law, of course this will take a long time and of course we must have strong arguments to be able to strengthen our opinion so that it can be accepted by others and I see that the members here have their own arguments like that. It is very very difficult to determine whose opinion is right and whose opinion is wrong, in this case I am a Muslim I am not arguing about the haram or halalness of crypto, but what is certain for me is listening to people who have a wide knowledge of religions (scholars) in decide whether it is lawful or not, but whatever we do, never legalize what is haram or otherwise forbid something that is lawful ...! do what you think is right and leave what you think is wrong because whatever we do is of course the consequences that we bear ourselves.

[JNR]

Staking in crypto is like interest in Fiat.
You lend (stake) your crypto and get reward (interest) for it.
I suggest all my Muslim brother to stay away from this new kind usury.

i'am a muslim, but i disagree with your statement buddy
seems you don't understand about staking and its compeletely different with lending,
hopefully you will try to understand more about staking and change your mind my friend

[Teraboy]

Staking in crypto is like interest in Fiat.
You lend (stake) your crypto and get reward (interest) for it.
I suggest all my Muslim brother to stay away from this new kind usury.

i'am a muslim, but i disagree with your statement buddy
seems you don't understand about staking and its compeletely different with lending,
hopefully you will try to understand more about staking and change your mind my friend

As far as i know that staking is about people are putting their coins into the network to be even more decentralized. The stakers will be the same level as miners.
The users who have been using the blockchain will be charged by the fees or commission that will be re-distributed again to the peole who have been staking their coins to help the network.
that's almost the same as dividend but in staking how much commission or divided for stakers will be based on how much token that staked in the network. I do agree with you if it's different with lending that people were putting their money to be borrowed by others.

[electronicash]

This my first time of hearing this and very informed about Muslim laws and have not seen any where were it States getting interest on investment is forbidden, if there is any where in the Muslim laws were this is stated please point out that portion for us.

If you are a Muslim, you can ask the cleric who is in your place or in a regular recitation in your environment, I am sure you will get what you are looking for here, because Islamic law will not be the same as the law of any country, so please choose first between Islamic law and state law.

from the previous posts, i can see some users are generally speaking about speculation being not allowed in Muslim law which whether this is lending or not. but this is cryptocurrency that is entirely about the speculation of prices. if the law says speculations are indeed not allowed so all Muslims couldn't participate in crypto/Bitcoin investments?

[LogitechMouse]

When I searched for this topic, I stumbled upon many articles and seen that interest is banned on their finance. So I'm not sure how banks operate in the major Muslim countries, but how do they make money?

Like the other members said, Staking and Lending are different features depending on the coin/token. Maybe specify a more specific scenario?

When I read the OP's post, I laughed for a while until I saw your post that interest is banned on them.
Base on this article: https://www.gfmag.com/topics/blogs/what-products-does-islamic-finance-offer
Looks like they have many ways in order for them to get profit like this one.

Ijara or leasing: Instead of issuing a loan for a customer to buy a product like car, the bank buys the product and then leases it to the customer. The customer acquires the item at the end of the lease contract.

Now regarding with the OP, like many have said here Staking and Lending are 2 different things. I have staked some of my coins but it doesn't mean that I lend it to them because if you lend them, its pretty sure that they will use it for the borrowers which isn't the case in staking.

[crwth]

~snip

When I read the OP's post, I laughed for a while until I saw your post that interest is banned on them.

I don't know much about Muslims and how they do their finances thing but I just did a couple of searches as well just to understand what the OP is talking about. Most of the members rushed to the conclusion already and didn't ask the OP what he really meant or something.

Ijara or leasing: Instead of issuing a loan for a customer to buy a product like car, the bank buys the product and then leases it to the customer. The customer acquires the item at the end of the lease contract.

So technically, they don't own the car. Just temporarily. I think it's quite common to physical assets that are expensive but not so much for HODL-ing coins, don't you think?

[KryptoKings]

This my first time of hearing this and very informed about Muslim laws and have not seen any where were it States getting interest on investment is forbidden, if there is any where in the Muslim laws were this is stated please point out that portion for us.

If you are a Muslim, you can ask the cleric who is in your place or in a regular recitation in your environment, I am sure you will get what you are looking for here, because Islamic law will not be the same as the law of any country, so please choose first between Islamic law and state law.

from the previous posts, i can see some users are generally speaking about speculation being not allowed in Muslim law which whether this is lending or not. but this is cryptocurrency that is entirely about the speculation of prices. if the law says speculations are indeed not allowed so all Muslims couldn't participate in crypto/Bitcoin investments?

You can buy, hold and even sell crypto assets. You don't need to be part of speculation.
It is haraam when you buy some asset just by assuming it's price will go up and you will sell it.
Similarly if you sell some asset because you assume it's price will fall.
This is speculation. You can invest in some good halal crypto project and hold its tokens.

[blockman]

This my first time of hearing this and very informed about Muslim laws and have not seen any where were it States getting interest on investment is forbidden, if there is any where in the Muslim laws were this is stated please point out that portion for us.

It's his assumption that it's not for them. He has explained the reason why he thinks as it's not allowed for them.
But his reasoning seems flawed. You can read that on his reply (https://bitcointalk.org/index.php?topic=5324612.msg56593159#msg56593159).

[electronicash]

This my first time of hearing this and very informed about Muslim laws and have not seen any where were it States getting interest on investment is forbidden, if there is any where in the Muslim laws were this is stated please point out that portion for us.

If you are a Muslim, you can ask the cleric who is in your place or in a regular recitation in your environment, I am sure you will get what you are looking for here, because Islamic law will not be the same as the law of any country, so please choose first between Islamic law and state law.

from the previous posts, i can see some users are generally speaking about speculation being not allowed in Muslim law which whether this is lending or not. but this is cryptocurrency that is entirely about the speculation of prices. if the law says speculations are indeed not allowed so all Muslims couldn't participate in crypto/Bitcoin investments?

You can buy, hold and even sell crypto assets. You don't need to be part of speculation.
It is haraam when you buy some asset just by assuming it's price will go up and you will sell it.
Similarly if you sell some asset because you assume it's price will fall.
This is speculation. You can invest in some good halal crypto project and hold its tokens.

The goal of everyone buying or holding cryptocurrency is of course to benefit from it, they won't want to buy crypto just to save money into it.  In Islāmic law there is indeed a prohibition on getting very large interest returns from investing, such as investing or deposits in local banks that do not cover the provisions of Islāmic sharia.  but I think it's legitimate to trade in cryptocurrency because it's like trading anything else

buying a token and hold it for short or long term means you are speculating to gain from it. that's still speculating which means its not allowed.

its sort of a gray area for Muslim in crypto but if they are going to look at BTC or any other crypto as a currency that they will use to buy something i guess it could be. but the intention is what is going to be subjected which i don't think anyone could figure what is your intention of buying a coin.

[Lantind]

You can buy, hold and even sell crypto assets. You don't need to be part of speculation.
It is haraam when you buy some asset just by assuming it's price will go up and you will sell it.
Similarly if you sell some asset because you assume it's price will fall.
This is speculation. You can invest in some good halal crypto project and hold its tokens.

Strongly agree with what you are saying because the specific goal is to eliminate haram that can happen accidentally on the work we have done, so this is obviously very good in my opinion even though I myself have never joined staking, but this is It becomes interesting to discuss when there are several people who know about staking perfectly.

[poodle63]

I've heard about this islamic law aswell when watching in reddit that opposes any kind of interests but I wonder what's your view on staking as a validator that usually can get you money from validating transaction and it's not like there's any harmful thing in it since the money generated from people paying for gas as reward for your service and from the block reward aswell.

[Luffygroove]

with all due respect sir, in the Muslim religion, cryptocurrency itself is still doubtful, so probably you need to consider more about your engagement with this whole thing. Staking itself from some source that I read is the process of actively participating in transaction validation (similar to mining) on a proof-of-stake (PoS) blockchain. On these blockchains, anyone with a minimum-required balance of a specific cryptocurrency can validate transactions and earn Staking rewards. So it's not the same at all with what you've been described.

[Ziskinberg]

Are all Muslim strictly abiding this law? So would you explain a bit why staking is against the Muslim's belief or law. Banks are even lending money, and I guess there are Muslims also who run a banking business.... I'd like to be enlighten about this as I just knew it in here.

[zasad@]

with all due respect sir, in the Muslim religion, cryptocurrency itself is still doubtful, so probably you need to consider more about your engagement with this whole thing. Staking itself from some source that I read is the process of actively participating in transaction validation (similar to mining) on a proof-of-stake (PoS) blockchain. On these blockchains, anyone with a minimum-required balance of a specific cryptocurrency can validate transactions and earn Staking rewards. So it's not the same at all with what you've been described.

Staking is used not only in proof-of-stake (PoS) mining.
When using various DeFi projects, you can stake your coins and receive rewards for this in the same coins or others. The author said that this is prohibited.
For other questions regarding proof-of-stake (PoS) mining or I would like to get an answer, because in my opinion it is a little different than regular staking.
I already wrote what you need to do a node or rent and monitor its work.

[fia_naila]

It is different between staking in crypto and deposit to the bank, staking in crypto you get the gain from exchanger fee, while in the bank you got the gain from lending it to other, how ever it is still debatable between is it Riba or no. And if you still saying its haram you can just take from capital gain not from staking.

[btcltcdigger]

Staking in crypto is like interest in Fiat.
You lend (stake) your crypto and get reward (interest) for it.
I suggest all my Muslim brother to stay away from this new kind usury.

And i would suggest to separate religion from practicality.
Many muslims do far worse stuff than gain interest on their money. And i know a lot of muslims who have no issue with interest.

[palle11]

with all due respect sir, in the Muslim religion, cryptocurrency itself is still doubtful, so probably you need to consider more about your engagement with this whole thing.

Countries that have been against bitcoin itself are majorly Islamic countries. That is where Op's point can even be looked at. I think he can reconsider being here and entering for signature campaign because lately, the companies opening up campaigns are gambling sites to advertise their businesses.

[noormcs5]

It is different between staking in crypto and deposit to the bank, staking in crypto you get the gain from exchanger fee, while in the bank you got the gain from lending it to other, how ever it is still debatable between is it Riba or no. And if you still saying its haram you can just take from capital gain not from staking.

Its seems that staking is not legit in Islam but if anyone is doubtful he can ask this issue from the religious scholars. They better know the religion and can give better suggestions on this staking income.

Many people here think this is ridiculous behavior from the muslims but muslims give priority to religion than to gain any other benefit.

[uneng]

Are muslims forbidden from lending money or from practicing usury? Because these are two different things.

Usury is related to abusive loans interest that will prejudice the borrower, but not all loans work this way. There are fair deals which benefit both sides, the lender and the borrower, and staking is one of them.

• As a lender you help someone who doesn't have money right now and as reward you earn some percentage over the total sum;
• As a borrower you have instant money to develop your business or project, consequently making money for yourself through it and using part of your profit to repay the loan.

Without a loan many people wouldn't have money to start their businesses. And without a lender there wouldn't be money to be borrowed. So I think it's precipitate to classify lending or staking as usury. It's quite the opposite: by lending you are actually helping people to turn their plans into reality.

[mdzahed134]

Staking in crypto is like interest in Fiat.
You lend (stake) your crypto and get reward (interest) for it.
I suggest all my Muslim brother to stay away from this new kind usury.

And i would suggest to separate religion from practicality.
Many muslims do far worse stuff than gain interest on their money. And i know a lot of muslims who have no issue with interest.

Bro if some Muslims do it, then it is not valid(halal) for everyone else. If there is a law in their religion, it is depend who will follow it or not. Some people’s don’t care about their profits like as where are their profits coming from but some are very concern and they adhere to their religion very strictly. So don't judging from one side.

[Fivestar4everMVP]

Sorry but this is hilarious to me, I mean, yes am not a Muslim but I do have many muslim friends I do business with and they've never mentioned anything like this to me, Infact, the reason why this is so hilarious to me is because, I have a muslim friend who always lend me money anything I need it for money, and I always pay him back with interest, huge interest at that.
So am kind of wondering what this friends of mine really are if this is actually a law in the Muslim religion.... Really unbelievable.

[pixie85]

Sorry but this is hilarious to me, I mean, yes am not a Muslim but I do have many muslim friends I do business with and they've never mentioned anything like this to me, Infact, the reason why this is so hilarious to me is because, I have a muslim friend who always lend me money anything I need it for money, and I always pay him back with interest, huge interest at that.
So am kind of wondering what this friends of mine really are if this is actually a law in the Muslim religion.... Really unbelievable.

If the law he's quoting is real, then it was made for the purpose of discouraging people from taking advantage of other people's poverty. It was not meant to stop them from making money!

Staking is not taking advantage of someone. It's making money by helping transactions to confirm. You stake your coins as a safety to prove that you will not try to cheat the system and allow double spent transactions. It's not stealing from anyone, nobody will lose money because you decide to stake!

[lienfaye]

If the law he's quoting is real, then it was made for the purpose of discouraging people from taking advantage of other people's poverty. It was not meant to stop them from making money!

So its better to say or what op point is if you lend dont ask for interest?

Im not certain if there's kind of law existing on muslim.
But based on my encounter to them, thats not how it is.
It might be depend on each member's stance on staking/lending.

[Willitivity]

Staking in crypto is like interest in Fiat.
You lend (stake) your crypto and get reward (interest) for it.
I suggest all my Muslim brother to stay away from this new kind usury.

Forgive me for asking, but which part of the Muslim laws states that staking is a sin or a crime, even though I don't know about the Muslim laws, I still think there's nothing wrong with someone staking their cryptocurrency to earn more, tbh I thought an hero member would understand more about crypto than I do but it seems we are all still learning, instead of condemning staking I would advice you search and read about staking first, then ask yourself if it's a sin or not, don't just jump into conclusion.

[dimonstration]

yes there are different service with the staking customs on offers but still left other option as trader or investors to work according to her believes of faith as might the business gives with good chance as improving financial condition as the consequence on involvement with the business.

This will depend on their self belief to, if it can be against their rules but they know in fact it can help them for their situation and living it can be understandable. There are some rules maybe we don't know yet like for minimal interest only or just a very few percent will not be a harm it may also only applicable for them in fiat and not in digital money yet especially if its for living or for investment purposes like having stocks and real estate property.

[ingiltere]

Staking in crypto is like interest in Fiat.
You lend (stake) your crypto and get reward (interest) for it.
I suggest all my Muslim brother to stay away from this new kind usury.

I see that similar discussions happened in Islamic world and they have a point actually. Staking is too similar to lending and you get interest as a reward. But if you think about mining, staking is like mining but you don't consume energy like mining. So there are controversies about that. Since staking is only here for less than 10 years we can't talk about that for sure. Everybody should do their own research and if they don't feel alright they shouldn't touch staking coins at all.

[KryptoKings]

Staking in crypto is like interest in Fiat.
You lend (stake) your crypto and get reward (interest) for it.
I suggest all my Muslim brother to stay away from this new kind usury.

I see that similar discussions happened in Islamic world and they have a point actually. Staking is too similar to lending and you get interest as a reward. But if you think about mining, staking is like mining but you don't consume energy like mining. So there are controversies about that. Since staking is only here for less than 10 years we can't talk about that for sure. Everybody should do their own research and if they don't feel alright they shouldn't touch staking coins at all.

Let me remind you, holding and trading staking coins are okay. It is only when you out them on stake, it is forbidden.
Just like fiat. If you own fiat, there is nothing wrong with it.
But you are not allowed to lend then for interest.
In Islam giving loan is allowed if it is interest free. In fact Islam encourage to give interstate free loans to people who ask for it.

[darewaller]

Staking is not like interest, there is a whole different situation about staking and interest from banks. Proof of stake is something that allows you to help people move money around, and you charge money for that, think about it like miners, do miners consider it interest? They do not, plus in order for you to stake you need to keep your PC open if I do not know it wrong, and that means you have to actually "work" for it, you are not getting an interest, you are providing a service and people are paying you for it, that's different from interest.

I still find it idiotic that interest would be bad, it must have been something wrong for those times in a middle east kingdom for sure but in 2021 saying interest is sin would be saying like breathing is sin, interest is everywhere, but this is not interest at all this is a service you charge money and get paid like a normal business.

[KryptoKings]

Staking is not like interest, there is a whole different situation about staking and interest from banks. Proof of stake is something that allows you to help people move money around, and you charge money for that, think about it like miners, do miners consider it interest? They do not, plus in order for you to stake you need to keep your PC open if I do not know it wrong, and that means you have to actually "work" for it, you are not getting an interest, you are providing a service and people are paying you for it, that's different from interest.

I still find it idiotic that interest would be bad, it must have been something wrong for those times in a middle east kingdom for sure but in 2021 saying interest is sin would be saying like breathing is sin, interest is everywhere, but this is not interest at all this is a service you charge money and get paid like a normal business.

Interest is a big evil. Remove it and you will have better society. It is making poor poorer and richs richer.

[deean_3one]

I don't think it's just a bad stake for Muslims. But there are some teachings that say that investing in crypto is something that Muslims should avoid. The proceeds from investments in crypto are not halal.

[int03h]

Bet is gambling while staking in the blockchain is the key to your property to receive another asset that has been produced over time.
Betting can lose all of your money, but depositing profit won't if you do it correctly.
So the deposit does not violate the rules of your friend's religion.

[abduramann_]

Staking in crypto is like interest in Fiat.
You lend (stake) your crypto and get reward (interest) for it.
I suggest all my Muslim brother to stay away from this new kind usury.

I see that similar discussions happened in Islamic world and they have a point actually. Staking is too similar to lending and you get interest as a reward. But if you think about mining, staking is like mining but you don't consume energy like mining. So there are controversies about that. Since staking is only here for less than 10 years we can't talk about that for sure. Everybody should do their own research and if they don't feel alright they shouldn't touch staking coins at all.

Let me remind you, holding and trading staking coins are okay. It is only when you out them on stake, it is forbidden.
Just like fiat. If you own fiat, there is nothing wrong with it.
But you are not allowed to lend then for interest.
In Islam giving loan is allowed if it is interest free. In fact Islam encourage to give interstate free loans to people who ask for it.

There are many staking models. Each generalization is wrong (including this? ). First of all, interest and staking are not the same essentially. Why? Interest is a contract and needs at least two parties: lender and borrower. In "decentralized" (I'll touch centralized ones later) staking, there is no borrower since nobody or no institution (in case of decentralization) "has to" pay some extra money to the lender.  In fact, there also is no lender. Why? In interest case, the money of lender is used for "something". In staking, again nobody or no institution "is allowed to" use the lender's money. It is just frozen and decreases the "liquid" supply. Nothing else. So, since there is no lender and no borrower, there also is no contract. Yes, you may earn some extra "rate-guaranteed" money (block reward). If the coin is infinitely inflationary (I mean there is no max supply like fiats), this would be probably (... requires to study the details) haram. For the finite supply coins like Bitcoin, those block rewards are the incentives of the setup/preparation phase. If these don't exist, nobody or no group can set up a blockchain. Anyway, after some time, the rewards will be completely finished and the validators will earn extra but "not rate-guaranteed" money from the transactions. To me, this "not guaranteed" money is not interest but dividend. First of all, since the ratio (APR, APY or whatever) is not guaranteed, the validators have a risk of earning nothing. Besides, the validators carry the risk of losing their coins' value.

As for the centralized staking, if the centralized entity does not guarantee any extra money than the amount which the network provides and "really" stakes your assets, I think this isn't haram since the centralized entity and the lender have win-win situation. The centralized entity increases its liquid assets and the lender does not involve in the technical details. Other than this option, I do not think the centralized staking is halal.


As an example, I want to give my staking choice. Currently I stake on Binance Chain and I do not think it is haram.  First of all, it does not have block rewards. The doubt decreases I earn just from the daily transaction fees. Against this, I cannot move my assets for 7 days. So, I undertake an important risk: I cannot sell them in any unexpected market condition.

To sum up, to me, it cannot be said that "each staking model is haram". Each staking model should be examined by thinking about why interest is haram, similarities, differences. Please do not forget that this is a new economy and technology. Before saying that something is haram easily, Muslims should consider it "thoroughly". I think the former behavior harms the advancement of Muslims.

[Dollar_Hunter]

Staking in crypto is like interest in Fiat.
You lend (stake) your crypto and get reward (interest) for it.
I suggest all my Muslim brother to stay away from this new kind usury.

I see that similar discussions happened in Islamic world and they have a point actually. Staking is too similar to lending and you get interest as a reward. But if you think about mining, staking is like mining but you don't consume energy like mining. So there are controversies about that. Since staking is only here for less than 10 years we can't talk about that for sure. Everybody should do their own research and if they don't feel alright they shouldn't touch staking coins at all.

Let me remind you, holding and trading staking coins are okay. It is only when you out them on stake, it is forbidden.
Just like fiat. If you own fiat, there is nothing wrong with it.
But you are not allowed to lend then for interest.
In Islam giving loan is allowed if it is interest free. In fact Islam encourage to give interstate free loans to people who ask for it.

In Islam it is fine as long as there is no interest because after all, if there is interest, of course the law is haram
What is certain is that if the concept is like gambling, I think that in Islam also does not allow it,
what is clear is that Islam does not prohibit everything so there is no need to be afraid

[Vishnu.Reang]

Staking in crypto is like interest in Fiat.
You lend (stake) your crypto and get reward (interest) for it.
I suggest all my Muslim brother to stay away from this new kind usury.

Anyone with even basic knowledge of how cryptocurrency (especially PoS algorithm) works will disagree with the OP. If staking was equal to interest, then users could just keep their coins in cold storage and forget about it. The interest payments would accumulate automatically. But that is not the case. Staking is more like a reward for keeping the Blockchain alive, and thereby helping to process the transactions.

[mamesso]

~

First of all I want to thank you for your efforts who have written at length and straightened the understanding of the law of risking money in Islam. A little input for you, you should give a little variation in your writing, so that it is easy to read and easy on the eyes.

To sum up, to me, it cannot be said that "each staking model is haram". Each staking model should be examined by thinking about why interest is haram, similarities, differences. Please do not forget that this is a new economy and technology. Before saying that something is haram easily, Muslims should consider it "thoroughly". I think the former behavior harms the advancement of Muslims.

Yes, this has been discussed above, not all bets are haram, but Muslims must respect the rules that have been determined in Islam, even though some people are still violating, but it will be his business with his god.

[Mpamaegbu]

Staking in crypto is like interest in Fiat.
You lend (stake) your crypto and get reward (interest) for it.
I suggest all my Muslim brother to stay away from this new kind usury.

Does that also mean Muslims don't keep fixed deposit accounts at the bank? Fixed deposits also pay interest to owners. Even until lately, savings accounts also paid interest to owners. So, I really don't get this point of you trying to sound this warning. Where is it stated in the Quran that Muslims should not engage in such business. This was the same skepticism that greeted the use of Bitcoin in 2017 by some overzealous Muslim users here. Truth remains that there are worse activities people indulge in than a harmless trading business.

[blockman]

I don't think it's just a bad stake for Muslims. But there are some teachings that say that investing in crypto is something that Muslims should avoid. The proceeds from investments in crypto are not halal.

This has a point. If the reason is like this, I think it's understandable and debatable but to say that it's bad because of the reasons of what OP has answered.
I think it's far from the understanding to think that staking isn't for Muslims.

[Golftech]

I don't think it's just a bad stake for Muslims. But there are some teachings that say that investing in crypto is something that Muslims should avoid. The proceeds from investments in crypto are not halal.

This has a point. If the reason is like this, I think it's understandable and debatable but to say that it's bad because of the reasons of what OP has answered.
I think it's far from the understanding to think that staking isn't for Muslims.

Taking things into account, certain believes are really existing and without deeper knowledge with how the system

works may appear that it's  really against from how they percepts things out , but in general it's the interpretations

of every individuals that matters, let those people decide from how they will take this call.

[fortune1002]

Staking in crypto is like interest in Fiat.
You lend (stake) your crypto and get reward (interest) for it.
I suggest all my Muslim brother to stay away from this new kind usury.

Yes, I also think same. Staking is Haram in Islam. because it is like getting interest on anything. So I request all Muslim to stay away from it.

[Fatunad]

Staking in crypto is like interest in Fiat.
You lend (stake) your crypto and get reward (interest) for it.
I suggest all my Muslim brother to stay away from this new kind usury.

If they do have that kind of rule or prohibition in Muslim religion then so be it but we know that not all religions would really be having this kind of thing.
When it comes to staking then it is still a sort form of income and you do really believe that those muslims online are really that much off faithful
on stopping even if they do know its against in muslim religion? Not on applying to all of them but several would really be going to the opposite side.
Crypto is anonymous and no one can spot them out in case they do make out those kind of prohibitions.

[btcltcdigger]

Staking in crypto is like interest in Fiat.
You lend (stake) your crypto and get reward (interest) for it.
I suggest all my Muslim brother to stay away from this new kind usury.

And i would suggest to separate religion from practicality.
Many muslims do far worse stuff than gain interest on their money. And i know a lot of muslims who have no issue with interest.

Bro if some Muslims do it, then it is not valid(halal) for everyone else. If there is a law in their religion, it is depend who will follow it or not. Some people’s don’t care about their profits like as where are their profits coming from but some are very concern and they adhere to their religion very strictly. So don't judging from one side.

Ok, fair point. But are you telling me that not a single bank in the arab world has interest on the loans they give to the people?
Without interest on loans, banks make no profit.

[TribalBob]

I think betting in crypto is different from betting outside my friend, in my opinion, betting in crypto in my opinion is like we save in a bank and get daily / monthly interest without we lend to other people, because the bet here aims to mine
I don't know what in your mind equates staking with usury, to be honest I am not a religious person, but I understand what is good and bad I think it's better to play in crypto than in the real world when it comes to money

[nicecrypto]

So I'm not sure how banks operate in the major Muslim countries, but how do they make money?

On this note, it is Profit making. You are allowed to make profits from your business or what ever lawful investments you might engage in but not to Borrow or Lend and pay or collect interest on the money you borrowed or Lend and this is for the Islamic Banks (simply explained)

Like the other members said, Staking and Lending are different features depending on the coin/token. Maybe specify a more specific scenario?

I guess the poster must have learnt the difference in this case as I believe there are enough explanations with regards to his misunderstanding of both Staking and Lending and some time, some of us wants to over burden our self with what was suppose to be easy which is also kicked against i.e. in the religion.

[TWW]

I think betting in crypto is different from betting outside my friend, in my opinion, betting in crypto in my opinion is like we save in a bank and get daily / monthly interest without we lend to other people, because the bet here aims to mine
I don't know what in your mind equates staking with usury, to be honest I am not a religious person, but I understand what is good and bad I think it's better to play in crypto than in the real world when it comes to money

What is meant by interest is what Islam does not want. or maybe what is considered haram.
but for me, the stake is not something like interest. it is only a gift given in varying amounts according to the agreed terms.
we will think of it as a gift from what we lend to someone or the platform.

[doomloop]

Staking in crypto is like interest in Fiat.
You lend (stake) your crypto and get reward (interest) for it.
I suggest all my Muslim brother to stay away from this new kind usury.

Isn’t staking an investment? Well, why are you trying to act like you’re all perfect or something? If you’re going to be acting all that perfect then I guess you should totally stay away from Bitcoin and every cryptocurrencies, because the way I see it, all these things are investment that you’re doing. Some of you invest in bonds and mutual funds and you get interest on them without knowing what your invested money was used for, so it’s the same thing, except that in this case you’re being told exactly what your money is being used for.

Moreover, do you know the meaning of the word ‘Usury’ that you used there? It means lending money at unreasonable high interests, and I don’t think there is any religion that doesn’t cancel that. Then check how much you’re getting from staking cryptocurrencies? Mostly 4% and you call that an usury, like seriously? Well, just do what’s best for you.

[MAAManda]

I Don't Think Staking Is Haram If You Do It In The Right Way.

I am currently staking on the Oasis Network, I am getting rewarded because I support Mining.

But If You Say Haram To DeFi (Farming, Liquidity Pool), I Will Say Yes To That.

[KryptoKings]

Well does it means that Muslims don't do business and make profits on they goods, because I don't see why it is forbidden that getting interest on you asset is a sin before God. Let be careful as not to misinforme our self's.

Profit and interest are two different things. Since you are unable to distinguish between two, you don't have any right to comment.
I created this thread to inform Muslims about staking. If it is not related to you, better avoid posting.

[abduramann_]

But If You Say Haram To DeFi (Farming, Liquidity Pool), I Will Say Yes To That.

I don't think two-sided liquidity pools are haram, since the lender undertakes the risk of the impermanent loss. As for farming, if the invested amount is just frozen (i.e. nobody uses it), imho it is also halal. The farm result is a gift or a reward. It is similar to the setup/early phases of the blockchain. Please see my other views.

There are many staking models. Each generalization is wrong (including this? ). First of all, interest and staking are not the same essentially. Why? Interest is a contract and needs at least two parties: lender and borrower. In "decentralized" (I'll touch centralized ones later) staking, there is no borrower since nobody or no institution (in case of decentralization) "has to" pay some extra money to the lender.  In fact, there also is no lender. Why? In interest case, the money of lender is used for "something". In staking, again nobody or no institution "is allowed to" use the lender's money. It is just frozen and decreases the "liquid" supply. Nothing else. So, since there is no lender and no borrower, there also is no contract. Yes, you may earn some extra "rate-guaranteed" money (block reward). If the coin is infinitely inflationary (I mean there is no max supply like fiats), this would be probably (... requires to study the details) haram. For the finite supply coins like Bitcoin, those block rewards are the incentives of the setup/preparation phase. If these don't exist, nobody or no group can set up a blockchain. Anyway, after some time, the rewards will be completely finished and the validators will earn extra but "not rate-guaranteed" money from the transactions. To me, this "not guaranteed" money is not interest but dividend. First of all, since the ratio (APR, APY or whatever) is not guaranteed, the validators have a risk of earning nothing. Besides, the validators carry the risk of losing their coins' value.

As for the centralized staking, if the centralized entity does not guarantee any extra money than the amount which the network provides and "really" stakes your assets, I think this isn't haram since the centralized entity and the lender have win-win situation. The centralized entity increases its liquid assets and the lender does not involve in the technical details. Other than this option, I do not think the centralized staking is halal.


As an example, I want to give my staking choice. Currently I stake on Binance Chain and I do not think it is haram.  First of all, it does not have block rewards. The doubt decreases I earn just from the daily transaction fees. Against this, I cannot move my assets for 7 days. So, I undertake an important risk: I cannot sell them in any unexpected market condition.

To sum up, to me, it cannot be said that "each staking model is haram". Each staking model should be examined by thinking about why interest is haram, similarities, differences. Please do not forget that this is a new economy and technology. Before saying that something is haram easily, Muslims should consider it "thoroughly". I think the former behavior harms the advancement of Muslims.

[Botnake]

Well does it means that Muslims don't do business and make profits on they goods, because I don't see why it is forbidden that getting interest on you asset is a sin before God. Let be careful as not to misinforme our self's.

Profit and interest are two different things. Since you are unable to distinguish between two, you don't have any right to comment.
I created this thread to inform Muslims about staking. If it is not related to you, better avoid posting.

Obviously he doesn't understand what you are trying to emphasize in this thread.

Everyone who are in business are always aiming for profit, that is the main goal but everyone does not make the same business, it's just that lending business is not good for Muslims as it's against the law to lend money to earn interest.

If I'm not mistaken, even in for Christian, lending money with interest is a sin but only few are really abiding that law.

[worle1bm]

Staking in crypto is like interest in Fiat.
You lend (stake) your crypto and get reward (interest) for it.
I suggest all my Muslim brother to stay away from this new kind usury.

I am quite astonished with what OP has mentioned in this thread.So you are saying if you earn profit on your investments it is sin in Muslim culture?As many have mentioned how do do banks operate in Muslim regions as they are engaging in earning direct interest from customers which is not the case with staking as it is different concept.So you need to inquire first about what you are writing and then gave such comments as everyone wants to earn and if they are earning in any legit manner it is good until they are not hurting someone's sentiments.

[Golftech]

muslim trader might still wants to work on customs as following returns with personal decision on expending efforts on preparation terms and applying strategics as expecting to gains from the market. there are many option of earning with the crypto finance that the use of offers might gives with no matter.

They can continue dealing with this environment without having any issues with their customs,

as there are many venues how to earn the way they'll choose it, if they'll see staking is not good

or if for some it's against their culture, then so be it and move to the other ways to invest and earn

witht his market.

[KryptoKings]

Staking in crypto is like interest in Fiat.
You lend (stake) your crypto and get reward (interest) for it.
I suggest all my Muslim brother to stay away from this new kind usury.

I am quite astonished with what OP has mentioned in this thread.So you are saying if you earn profit on your investments it is sin in Muslim culture?As many have mentioned how do do banks operate in Muslim regions as they are engaging in earning direct interest from customers which is not the case with staking as it is different concept.So you need to inquire first about what you are writing and then gave such comments as everyone wants to earn and if they are earning in any legit manner it is good until they are not hurting someone's sentiments.

Profit on investment is allowed but lending money and earning interest on it is not.
If you invest in some ico/ieo and the projects share it's profit with its token holders, it is absolutely fine.
Staking is different. It's not investment, it is lending.

[Agozyen]

Staking in crypto is like interest in Fiat.
You lend (stake) your crypto and get reward (interest) for it.
I suggest all my Muslim brother to stay away from this new kind usury.

I am quite astonished with what OP has mentioned in this thread.So you are saying if you earn profit on your investments it is sin in Muslim culture?As many have mentioned how do do banks operate in Muslim regions as they are engaging in earning direct interest from customers which is not the case with staking as it is different concept.So you need to inquire first about what you are writing and then gave such comments as everyone wants to earn and if they are earning in any legit manner it is good until they are not hurting someone's sentiments.

Profit on investment is allowed but lending money and earning interest on it is not.
If you invest in some ico/ieo and the projects share it's profit with its token holders, it is absolutely fine.
Staking is different. It's not investment, it is lending.

What about staking coins where the coins don't leave your wallet where all you have to do is activate staking while retaining your full balance without locking it up?

[Distinctin]

Well does it means that Muslims don't do business and make profits on they goods, because I don't see why it is forbidden that getting interest on you asset is a sin before God. Let be careful as not to misinforme our self's.

I think apy in staking just like interest in banking industry but I also believe it a halal in way. We all deposit our property in Banks hence banking industry gives us profits. Just same Projects are giving us apy as we hold our assets in different exchanges or websites.

I'm interested on how Muslims treat it also.

Personally I have deposits in different banks and in our country banks credit us a quarter interest on deposit, so if that is not allowed in Muslims teaching then probably Muslims does not have a bank account in our country.

I like to hear what OP has to say about this...

[HanaTenun]

I do not understand why you say that, while your own rank is a hero, I am sure you have been in the crypto world for a long time, I am also a Muslim.
Saving crypto currency is not the same as saving money in a bank, I have read several articles about crypto law in Islam according to scholars from the Hanafi school of thought terming this investment activity as istitsmary, namely all forms of practice of asset development activities.
then basically the activity of trading in the futures market against crypto assets, the law is permissible.

[gabbie2010]

Well does it means that Muslims don't do business and make profits on they goods, because I don't see why it is forbidden that getting interest on you asset is a sin before God. Let be careful as not to misinforme our self's.

I think apy in staking just like interest in banking industry but I also believe it a halal in way. We all deposit our property in Banks hence banking industry gives us profits. Just same Projects are giving us apy as we hold our assets in different exchanges or websites.

I'm interested on how Muslims treat it also.

Personally I have deposits in different banks and in our country banks credit us a quarter interest on deposit, so if that is not allowed in Muslims teaching then probably Muslims does not have a bank account in our country.

I like to hear what OP has to say about this...

I believed that is why most Muslim countries have their own interest-free banks to cater for their religious beliefs I don't know how those banks make their own money or probably get grants from government.
Well if staking is more or less likened to a bank deposit to earn interest which is term 'haram' in Muslim belief according to the  OP it's up to every Muslims to personally take a decision whether to invest in it or not.

[acener]

I am confuse about it but I think it is for everyone no matter what religion they are.
Crypto is for everyone it doesn't care about your religion or gender sexuality you just need to understand how it works and decide if you really want to invest or use it.

[plr]

Staking coins has been with us for many years, why now OP is a hero member he knows this for several years what is the motive behind this, he should have posted this three or four days ago when staking is very popular, and his explanation sounds vague, we need a good scholar who will tell us if what OP is saying is really true and really according to Muslim teaching.

[KryptoKings]

Staking coins has been with us for many years, why now OP is a hero member he knows this for several years what is the motive behind this, he should have posted this three or four days ago when staking is very popular, and his explanation sounds vague, we need a good scholar who will tell us if what OP is saying is really true and really according to Muslim teaching.

Lol just because I didn't post something earlier means my intentions are bad?
There is no ruling by any scholar on staking yet, if tomorrow someone gives some ruling, will you counter him by saying same thing that staking has been with us for many years why you giving ruling now?
Actually many if you fear losing your income that's why you don't want to accept it as interest and give all baseless reasons to differentiate between two.

[electronicash]

Staking coins has been with us for many years, why now OP is a hero member he knows this for several years what is the motive behind this, he should have posted this three or four days ago when staking is very popular, and his explanation sounds vague, we need a good scholar who will tell us if what OP is saying is really true and really according to Muslim teaching.

Lol just because I didn't post something earlier means my intentions are bad?
There is no ruling by any scholar on staking yet, if tomorrow someone gives some ruling, will you counter him by saying same thing that staking has been with us for many years why you giving ruling now?
Actually many if you fear losing your income that's why you don't want to accept it as interest and give all baseless reasons to differentiate between two.

you can always say everything you want. the Muslims can also believe what they want to believe. we can't find out anyway if they really will stop staking. when they write the laws, cryptocurrency isn't created yet. i think there is nothing to worry about this being not allowed in their belief in terms of cryptocurrency. it's more important to give your family a good life thru the earnings by staking.

[bobyhodob]

I as a Muslim do not really understand the law of staking but staking is like regular savings in a bank and you get annual interest, so in my opinion it's safe

[KryptoKings]

I as a Muslim do not really understand the law of staking but staking is like regular savings in a bank and you get annual interest, so in my opinion it's safe

You say staking is like regular annual interest in bank yet you think it is safe.
Don't you know interest is haraam in Islam and Muslims should not involve themselves into anything related to it?