Is buying crypto haram

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Cryptocurrency, such as Bitcoin, is often considered haram by some a third party such as gambling which is haram. Islamic scholars have different harma on the permissibility of using is frequently utilized for haram. Cryptocurrencies are innovative, unpredictable investments and receive money without going via a bank or credit. Whether cryptocurrency is halal or implications for riba, or interest-based because they are not backed who must consider whether these value is speculative.

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The short answer is yes�bitcoin, ethereum, and similar cryptocurrencies are halal. Our extensive research into bitcoin and cryptocurrency by qualified scholars. This is because gharar can lead to gambling and speculation, which is Haram. And this is where cryptocurrency hits a wall in terms of acceptability to Muslims, as cryptocurrency is considered to be highly speculative and volatile. Since cryptos are real digital assets that can be owned, possesed, and stored on wallets and traded on exchanges, some Islamic scholars consider them halal.