Choosing cryptocurrencies that are Sharia-compliant requires ensuring that projects are free of interest or prohibited activities. Some currencies that can be considered suitable for Islamic investment based on their projects that are geared towards innovation and development in legitimate areas include:
Top 10 Sharia-Compliant Cryptocurrencies:
1. Bitcoin (BTC):
A market-leading currency, it is considered “digital gold” due to its relatively stable value and widespread adoption.
2. Ethereum (ETH):
It is based on smart contracts and provides a platform for developing decentralized applications.
3. Cardano ($ADA ):
A project focused on decentralized finance solutions, education, and environmental projects.
4. Stellar ($xlm):
It aims to improve global money transfers quickly and at low costs.
5. IOTA (MIOTA):
A project dedicated to the Internet of Things (IoT) and based on technology that contributes to the development of the industry.
6. Algorand (ALGO):
A platform based on the Proof of Stake mechanism, which speeds up operations and reduces costs.
7. Tezos ($xtz):
A smart contract platform that offers advanced development and innovative features.
8. Zilliqa ($zil):
It relies on fragmentation technology to improve operational efficiency and application development.
9. Elrond (EGLD):
A project focused on scalability and transaction speed with eco-friendly solutions.
10. Avalanche (AVAX):
It is known for its lightning-fast speed and flexibility in supporting decentralized financial applications.
Tips for legitimate investment:
Research and ensure that the project adheres to Islamic ethics.
Choose projects with positive social and technological value.
Avoid currencies from unknown or questionable projects.
Note: Be sure to check with an Islamic finance specialist to ensure that the investment is Sharia-compliant.