Attention All Muslim traders please :
"Dear crypto traders, beware! Binance's future trading feature involves borrowing with interest, which is considered haram (forbidden) in Islam. Avoid this feature to maintain halal (permissible) trading practices. Instead, opt for spot trading or other interest-free options to ensure compliance with Islamic finance principles."
Here is a longer blog post on the topic:
Title: Why Interest is Haram in Islam and What it Means for Crypto Traders
Islam teaches that charging or paying interest is haram, or forbidden, due to its potential for exploitation and oppression. This principle applies to all financial transactions, including cryptocurrency trading. Binance's future trading feature, which involves borrowing with interest, goes against this fundamental tenet of Islamic finance. As a result, Muslim crypto traders must avoid this feature to maintain halal trading practices. Instead, they can explore spot trading or other interest-free options, ensuring their financial dealings align with their faith.
Remember, Islamic finance prioritizes fairness, transparency, and justice, and it's essential for Muslim traders to uphold these values in their cryptocurrency transactions.