Are alt coins halal and what are some halal exchanges

[angelmraven]

Salam and Ramadan Mubarak,

I was wondering are “alt coin” or “meme coins” halal?

I know of some that are part of block chains that have value that some say are halal and others not.

And I was wondering what halal exchanges are there e.g. coinbase, ByBit, binance (I know this is haram because they use interest)
It doesn’t have to be these it could be others.

FYI I live in australia
Thanks for your help.

 

[rahenson]

@angelmraven I'm not sure why Bitcoin isn't on your list. It is ultimately a speculative device. You're not investing into a company etc.

The least haram use of crypto is ForEx and remittances since the ultimate aim is to get your Fiat money elsewhere, possibly in a different form. This is possible without speculation.

All exchanges have interest paying products. Just as HSBC has interest paying products they also have Shariah compliant products. There's nothing haram about exchanging your money for foreign currency in the same way there's nothing haram about the act of buying crypto.

 

[angelmraven]

@rahenson Well btc is being used to buy real world things and slowly starting to become a “currency” as crypto is as a whole so I wouldn’t see it as you would say”speculative device” but what’s your thought on other coins that don’t have any use case e.g. like doge coin or something similar where initially it was just made “for fun” or is just a small coin. And what of the ones with a real use case and utility like fetch?

 

[daisies89]

@angelmraven Are you investing or are you gambling or are you just having fun throwing money away?

 

[angelmraven]

@daisies89 Investing and some ta

 

[daisies89]

@angelmraven Seems like it’s all gambling