Bitcoin Halal or Haram? What Deoband Say and what Other Scholars Says About Bitcoin

Is Bitcoin Haram?

Bitcoin Halal or Haram – The issue of bitcoin is a recent one which means that it is not found or discuss by scholar and discuss earlier in the past unfortunately with such new event involving some of them are to some clean and clear and some may be required the collaboration of Scholar, economist, Ulma and knowledgeable person to come up with the conclusion, basically speaking bitcoin is something that is recent and new and there are a lot of serious concerns when it comes to dealing with it. whether it is from the origin where it came from weather from the aspect of sustainability and security.

Deoband Fatwa About Bitcoin

Someone raises a question In Darul Ifta Deoband That Bitcoin Is Halal or haram in Islam, is Bitcoin Halal Or is Bitcoin Haram Or Is Bitcoin permissible In Islam?

Then Scholars/Mufti Answered Him And The Fatwa Number Is 238-881/N=8/1438 :-

Various articles related to digital currency were read and considered, the digital currency is just a Fake Things and it is just something like net trading. There is a form of storing and trading business, in fact, it is not found in any way, nor is it permissible for the benefit of liability for its business.

So the summary is that bitcoin or other digital currencies, it’s just a fake currency, in fact, Speculative Money, drug money also put it here. therefore it is not permissible to buy BitCoin or any other digital currency purchase. Similarly, trading of buttons or any digital currency is just like trading trades; so be avoided by this business.

refrences –

 – قال اللّٰہ تعالی: وأحل اللہ البیع وحرم الربا الآیة (البقرة: ۲۷۵) ، یٰأیھا الذین آمنوا إنما الخمر والمیسر والأنصاب والأزلام رجس من عمل الشیطن فاجتنبوہ لعلکم تفلحون ( المائدة، ۹۰) ، وقال رسول اللہ صلی اللہ علیہ وسلم: إن اللہ حرم علی أمتي الخمر والمیسر (المسند للإمام أحمد، ۲: ۳۵۱، رقم الحدیث: ۶۵۱۱) ، ﴿وَلَا تَأْکُلُوْا أَمْوَالَکُمْ بَیْنَکُمْ بِالْبَاطِلِ﴾ أي بالحرام، یعني بالربا، والقمار، والغصب والسرقة (معالم التنزیل ۲: ۵۰) ، لأن القمار من القمر الذي یزداد تارةً وینقص أخریٰ۔ وسمی القمار قمارًا؛ لأن کل واحد من المقامرین ممن یجوز أن یذہب مالہ إلی صاحبہ، ویجوز أن یستفید مال صاحبہ، وہو حرام بالنص (رد المحتار، کتاب الحظر والإباحة، باب الاستبراء، فصل في البیع، ۹: ۵۷۷، ط: مکتبة زکریا دیوبند) ۔

And Let’s look Out Some More Scholars view About Bitcoin

assim al hakeem about bitcoin

Assim Al Hakeem View About Bitcoin

it’s also known that it is founded in 2008 by someone that is unknown and they say his name is  Satoshi Nakamoto and this person later on who was supposed to be Japanese the present with that name the not having anything to do it then another person came from Australia or Canada claiming to be the one who founded it but generally speaking no one knows who invent it.

It’s not a coin, it’s not the bank, it’s not a certificate. It something virtual it all is depended to peer to peer and the logarithm who are analysis and we don’t know who they are, is not only a handful of people who control it and who are anonymous and no one knows who they are you cannot complain about it.
Only Some Countries Accept It Like Germany and Austria because of taxation monitoring its criteria and the biggest loophole in it that the price goes way up and it can also come lay down so it’s like a bubble waiting to be in plated and this what will happen soon.
Now we all know that only a limit for the Bitcoin that is 21 million of it and once they reach the 21 million what will happen that only code that you’re given no one can trace it which means that it’s an open Gate for money laundering, drug money how money you can just put it there and no one can trace you.
Why hackers when they do cybercrime and they demanded ransom and had to be paid in Bitcoin pirates of the Carabians the Disney movie that was hacked and they demanded ransom for it in Bitcoin any virus attack or it can fraction your wealth and can take this currency local currency down to the ground so there is a lot of ambiguity.
If I Have Doller and you have euro then this is permissible in Islam with one condition and that is that it has to be hand to hand you have to be physical I cannot say ok I accept this transaction I’ll give you the money after half an hour this is how long the transaction is it has been simultaneous give and take in virtual currencies you don’t have that is not simultaneous and you don’t have anything physical to hold on to show.
this kind of ambiguity makes Bitcoin haram in my opinion and Muslims should not get involved in such dubious transactions simply to make a quick buck to make a quick profit.
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Bitcoin Halal or Haram? What Deoband Say and what Other Scholars Says About Bitcoin
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