What is Islamic Coin? A Muslim Community Coin 🔥

[Bushdark]

Using the name of a community won't make it one of theirs. Why this token is for the Muslim community only and how it serve the community! I think this token is created by targeting the Muslim communities emotions. Many Muslim will think by investing in these project they can support the community which isn't true.

But i am relieved by imagin I don't need to see those annoying token sale add in all over my Twitter. They spend a lot to make promotion in the social media which indicates there is a group of people behind this projects marketing expenses.

I have seen this project on Twitter many times and I don't know why it is targed Islamic coin. I think the motive to get my Muslim investors to buy this project and see it as a reliable project for those that are interested in investing in cryptocurrency market. I think everyone can name there project whatsoever they like and this project really looks like it has support for the Muslim community.
I believe the project is launched now and might look like a good potential token if the team can promote very well.

[Samlucky O]

Using the name of a community won't make it one of theirs. Why this token is for the Muslim community only and how it serve the community! I think this token is created by targeting the Muslim communities emotions. Many Muslim will think by investing in these project they can support the community which isn't true.

But i am relieved by imagin I don't need to see those annoying token sale add in all over my Twitter. They spend a lot to make promotion in the social media which indicates there is a group of people behind this projects marketing expenses.

Yes it might be true just like Elon musk is used to promote eloncoin. I discover lately that people has been using many tricks to lure people into what dey don't know about. I think they want yo draw the attention of many Islamic people to it.

[Saisher]

i have also observed but as i said the muslim population is huge with more than 2 billion followers of islam in the world if they get to persuade a lot of them to get into the cryptocurrency scene then it’s a win

That is if they can persuade Islamic countries to adopt their coin, there's already a warning for residents of the UAE

ISLM token currently is not available for purchase to any resident of, or any person located or domiciled in Dubai, UAE, because of regulatory notice of The Virtual Assets Regulatory Authority (VARA) of Dubai

There's a possibility that many Islamic countries will follow the UAE's action and if that happens this coin's progress will be halted, but only time can tell if the majority of Islamic countries will adopt this coin, I've seen religious-based token/coin that are not existing anymore and unfortunately, they cannot keep up with the community's need.

[Bureau]

I did have an over watch of your project by visiting the link you mentioned in your topic. Please don't think my reply is harsh but how can you ask for funding? According to my understanding that is haram as it should be only for holy purpose and that too should be nature based produce.

The next topic is about staking and according to my understanding staking is again haram. Regardless of your cause and your output generated from this project. I feel such coins won't make into the mainstream and get attention from the Islamic countries.

Guys! I may be wrong if someone can enlighten me why this Islam religion based project should be supported.

[D ltr]

Yes, ranked 2190th out of all 8886 active crypto coins with $0.2805 value. So I do not see any future for this coin, because altcoin market have too much coins already, and transfer fees through ETH network are high.
See more here - https://coinmarketcap.com/currencies/islamic-coin/

It must be noted that if this coin has been making a big event for airdrop hunters yet the airdrop reward has not been distributed. It's caused by there was also vesting period implemented by the developers. The price is slowly going down again after it was getting massive pump.
I have some friends who participated in this airdrop and they were being eligible for around 1k ISLM coin. Im sure that the price will be dumped so hard once the unlocked token will available to be sold by the hunters.
I remind you that if the supply of this coin is also really big at this moment. It can also become another factor why this coin will be dumping in the future.

There are still many tokens locked this time but as per the schedule if the more tokens to be unlocked gradually.

I once took part in an assignment in Galxe but I didn't complete it completely after knowing that the prize would be locked, so I became increasingly lazy to find out the progress
Rewards that are locked over time will be wasted and have no value when opened.

[coin-investor]

Guys! I may be wrong if someone can enlighten me why this Islam religion based project should be supported.

Why not do your research by checking their homepage and reading their roadmap, you don't have to ask people to shill a token to you, if you're interested in a token you don't have to ask why, just check it yourself and based on your parameters on what to look for a coin apply these parameters.
We already have so many shills here in this forum and if you're listening and asking questions like this, it's like asking people to shill tokens they are promoting, investors should be wise now, by doing their research and looking for loopholes.
Based on what I see on ISLM it's not the coin worth adding to my portfolio, I prefer coins that have no boundaries, but if you're a Muslim it could be a coin for you.
 

[mdzahed134]

Do they have certain important points, or are they just ordinary altcoins that use the name of a religion, if that's the case, I think it's just an ordinary altcoin, even though they say they have a fund raise of around 400 million$, but to me it looks like an ordinary project.

I have seen in many articles about Islamic Coin in the last year, but i don’t how it works as a name of it’s a Islamic coin, yes it’s just look like an average altcoin. If they are successful project and collected 400$ millions then why it’s not listed any top tier exchange as like Binance? Even i didn’t see enough marketing in this forum. 

[Lamkuthang]

Do they have certain important points, or are they just ordinary altcoins that use the name of a religion, if that's the case, I think it's just an ordinary altcoin, even though they say they have a fund raise of around 400 million$, but to me it looks like an ordinary project.

I think it's just universal. If it is considered good and has a good development direction, I think there is no problem with the Islamic Coin coin. The important thing is that the volume is there and it has been listed on the market. If we don't want it anymore, just sell it again and buy something with more potential. The investment world is generally ready to go first and those who are good at reading are always at the forefront

[irsykes]

For example, a project that takes advantage of itself with a religious community, I think many people think is less efficient, a lot of what has happened has created debate. because the existence of certain regulations causes conflict between parties. If the concept is general, not individual, perhaps many people will support it

[Hispo]

I do not quite understand this project, to be honest.
What would be the appeal of this alternative coin to those who live in Islamic countries when all of them can use Bitcoin or other more established coin instead?
This is one of the problems I have seen in many alt coins, they are created with a purpose which does not exclude or represent an improvement over existing Coins.

There is no reasonable point for someone who is Muslim to avoid using Bitcoin and use Islamic coin instead. Actually, there are a lot of Muslims in this forum who actively trade and hold Bitcoin. Anyways, regardless of my opinion, I hope you can make something out this idea you have.
Good luck.

[kentrolla]

I do not quite understand this project, to be honest.
What would be the appeal of this alternative coin to those who live in Islamic countries when all of them can use Bitcoin or other more established coin instead?
This is one of the problems I have seen in many alt coins, they are created with a purpose which does not exclude or represent an improvement over existing Coins.

There is no reasonable point for someone who is Muslim to avoid using Bitcoin and use Islamic coin instead. Actually, there are a lot of Muslims in this forum who actively trade and hold Bitcoin. Anyways, regardless of my opinion, I hope you can make something out this idea you have.
Good luck.

Yes, there is not even a single reason for Muslims to prefer this coin over Bitcoin as this is no different than other coins and I feel this has been created just to deceive Muslims and this was done at a time when crypto friendly policies were taking place in Dubai and it's quite understandable that this has been created to pool in money from Roch gulf Arabs and I have seen few more coins like this and trust me there hasn't been any developments yet.

[Publictalk792]

Islamic Coin (ISLM) and the Haqq Network are looking good. Aiming to provide financial empowerment with Shariah principles and leveraging blockchain technology.
The significance of Shariah compliance is an important aspect to explore as it ensures that the cryptocurrency aligns with the ethical and moral principles of the Islamic community.
I also join the airdrop of this coin and I got 700 ISLM coins but they are in vesting period and I don't know when I will get unlock my coins what will be the value of this coin.
It showing that it is a Islamic coin but many Islamic countries didn't accept it. If they accept they regulate in their countries.
And here in this article you can see UAE is also unsure about this coin and hesitating to regulate and UAE government didn't give a proper licence to this company. This coin catch hype if other Muslim countries accept it and regulate it in the country.
Here is the article.
https://ifnfintech.com/vara-issues-alert-against-sale-of-islamic-coin-by-dubai-firm/

[Samlucky O]

Do they have certain important points, or are they just ordinary altcoins that use the name of a religion, if that's the case, I think it's just an ordinary altcoin, even though they say they have a fund raise of around 400 million$, but to me it looks like an ordinary project.

Same here. coin with too much hype tend to just end as a history. I don't know there vision about Islamic coin, but what ever it is I think it's just going to end like other altcoin. No matter how any new altcoin tend to have much fan or hype, i think it's not going to be anywhere close to etherium. Or even BNB.

[jrrsparkles]

islam is the second-largest religion in the world maybe they are aiming to get muslims to invest in their coin

It's pretty obvious that they are targeting the Muslim community to invest in this shitcoin but only one thing pop up in my mind, seriously? It is pretty lame reason for someone to invest in a project.

From reading the others' replies it seems the project even got some liquidity too which I don't think is real and created by the developers itself to propagate this to a larger audience. Anyway good luck!

[Ben Barubal]

  Based on my research, this Islamic coin is new, and currently it is on an exchange where it can be traded. In addition to that, it has a trading volume that is obtained every day of around 1.2 million dollars,  which is not bad at all.

  So my only question is, why is it listed on an exchange? or because he's new? Because if I look at his statistics on Coingecko, there is nothing written so far as to how much his market capital is. Why is it? So, this is still a bit under observation to me, maybe because it's just hype at the moment. You know that this kind of situation is difficult when it's just hype and there's no development plan in the future.

https://www.coingecko.com/en/coins/islamic-coin
https://www.kucoin.com/trade/ISLM-USDT?rcode=e21sNJ

[Kavelj22]

That being said, the Islamic coin sound like a religious coin and at that it may lead to a lot of limitation for the project such as wider adoption and users,  and what the religious sentiments are about cryptocurrency projects,  just like gambling that is declared and haram in Islam,  same could happen with crypto in Islam the could be a prohibition or restriction to worshipers not the get involved in anything such as this.

The currency was created on abhorrent racist foundations, which has predicted its failure since its launch. Calling the currency religious makes it very limited and does not offer promises of success of any kind. It is not the first currency of its kind to be established according to this premise, but none of us mention anything about those currencies because they failed quickly.

The owners of these projects usually have a limited team who create the project in order to deceive people with a false illusion. On this basis, they seek to ensure that the project attains acceptable importance.

I think it is proper to go religious while creating a coin. By so doing, you are already limiting your market space because not everyone will believe in your religious ideology.

The nomenclature will drive away some very serious investors.

This is very similar to an undeclared apartheid regime but this time in the form of a currency network. It is not the first time that we have seen an example of private currencies that are in the name of a famous artist or politician, but the matter becomes more special if we choose for it a fundamentalist tendency, since sectarian and ethnic conflicts in the world are closely related to religions in general.

The Islamic religion has become associated with terrorism, as the far-right media in all Western countries want to promote. Thus, launching a currency under the name of Islam can be used later in various ways capable of causing chaos.

[gabbie2010]

Using the name of a community won't make it one of theirs. Why this token is for the Muslim community only and how it serve the community! I think this token is created by targeting the Muslim communities emotions. Many Muslim will think by investing in these project they can support the community which isn't true.

But i am relieved by imagin I don't need to see those annoying token sale add in all over my Twitter. They spend a lot to make promotion in the social media which indicates there is a group of people behind this projects marketing expenses.

I have seen this project on Twitter many times and I don't know why it is targed Islamic coin. I think the motive to get my Muslim investors to buy this project and see it as a reliable project for those that are interested in investing in cryptocurrency market. I think everyone can name there project whatsoever they like and this project really looks like it has support for the Muslim community.
I believe the project is launched now and might look like a good potential token if the team can promote very well.

I read an article where it was stated that participating in any form of crypto investment, gambling etc is  "Haram" forbidden how come the Islamic coin was launched for the Muslim faithful because some of them believe it's another form of ponzi scheme due to it pump and dump features, however if it developers intention is to promote the coin as a solution to some Islamic problems then I think that is a welcome development and would definitely succeed because of many Muslims crypto enthusiast who are not fanatic would adopt it and invest in it and as well promote it in an Islamic way to gain and attract more investors.

[Kelward]

I agree that using a religious name to promote a coin, might limit it's acceptance to only investors that are in that religion. Personally I think that if a developer wants their project to attract a wider participants, then using a religious name might not be the best approach, because people that are not in that religion might not be comfortable to be a part of it.

Maybe this Islamic coin, might just be a name chosen by the developers to attract Muslims, to be a part of it, so it might not have anything to do with the Islamic faith. There are too many coins in the altcoins space, so they all have to compete for  relevance, and if these particular one in discussion can stand the test of time and gain people's trust, then it's all good.

[jrrsparkles]

I agree that using a religious name to promote a coin, might limit it's acceptance to only investors that are in that religion. Personally I think that if a developer wants their project to attract a wider participants, then using a religious name might not be the best approach, because people that are not in that religion might not be comfortable to be a part of it.

Maybe this Islamic coin, might just be a name chosen by the developers to attract Muslims, to be a part of it, so it might not have anything to do with the Islamic faith. There are too many coins in the altcoins space, so they all have to compete for  relevance, and if these particular one in discussion can stand the test of time and gain people's trust, then it's all good.

The name is used to create attention for this project and the developer doesn't care either its positive or negative as long as it is going to make the creator rich not the investors. The name of the coin doesn't hold any value to the project, it's just here to create the identity but only the uniqueness of the project can take it to the actual heights.

[Mate2237]

Yes, ranked 2190th out of all 8886 active crypto coins with $0.2805 value. So I do not see any future for this coin, because altcoin market have too much coins already, and transfer fees through ETH network are high.
See more here - https://coinmarketcap.com/currencies/islamic-coin/

Muslims are not like Christians that does not support their projects. At the end of the years, you will see that this coin will have value even more than some of the altcoins in the cryptocurrency ecosystem. Yes the ecosystem is full with coins now and more are still coming. Different countries will also launched their token because the world is about to change economic system to purely digital currencies.

And the best cryptocurrency in the future is bitcoin. Bitcoin is the best not only because of it value but also because it is a decentralized coin in which authorities can not control the users or owner's funds but most of the altcoins might collapsed because of external forces and that is where Joeyp is coming from.