Cryptocurrency Q&A
Is Binance allowed in Islam?｜"Crypto in general is halah to buy, sell or keep as an asset, but for binance (or any other exchange) , so margin trading, futures, staking, defi staking, earn services, loans, dual investments, borrowing ALL are Haram, and binance in particular even for normal staking gives you the rewards + ...only spot trading is halal
Is Binance allowed in Islam?｜"Crypto in general is halah to buy, sell or keep as an asset, but for binance (or any other exchange) , so margin trading, futures, staking, defi staking, earn services, loans, dual investments, borrowing ALL are Haram, and binance in particular even for normal staking gives you the rewards + ...only spot trading is halal
DigitalDragon
Fri Jun 07 2024
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6 answers
1545
Could you please clarify the Islamic perspective on Binance? Is it permissible to use Binance for cryptocurrency transactions? It seems that crypto, in general, is considered halal for buying, selling, or keeping as an asset. However, are there any specific aspects of Binance or other exchanges that are deemed Haram, such as margin trading, futures, staking, DeFi staking, earn services, loans, dual investments, or borrowing? Is Binance's normal staking also Haram due to the rewards it offers? In conclusion, would only spot trading be considered halal on Binance?
6 answers
Lorenzo
Sun Jun 09 2024
BTCC also offers futures trading, enabling investors to speculate on the future prices of cryptocurrencies. This adds a layer of complexity and risk but also offers potential for higher returns.
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IncheonBlues
Sun Jun 09 2024
Cryptocurrency has become a significant force in the financial landscape, revolutionizing traditional payment methods and asset management. Its decentralized nature offers unprecedented levels of security and anonymity, attracting investors and enthusiasts alike.
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WhisperEcho
Sun Jun 09 2024
The rise of cryptocurrency exchanges like BTCC, a UK-based platform, has further fueled this trend. BTCC provides a comprehensive suite of services, catering to the diverse needs of the cryptocurrency community.
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AmyDavis
Sun Jun 09 2024
Among its offerings, BTCC stands out for its spot trading services. These allow users to buy and sell cryptocurrencies at current market prices, offering liquidity and convenience.
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ShintoMystery
Sat Jun 08 2024
Additionally, BTCC provides a secure wallet service, allowing users to store their cryptocurrencies safely. This is crucial in the crypto world, where security breaches and hacks are a constant threat.
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