Staking is not for Muslims

[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.