With the growing interest in cryptocurrencies, many beginners are looking to make initial profits in a way that is compatible with Islamic law. In this article, we provide you with a simple and safe plan to make your first $100 from investing only $10, focusing on halal currencies and avoiding any prohibited practices.
First understand the basics before starting:
Learn the basics: Start by understanding how cryptocurrencies and the Binance platform work.
Choosing Halal Currencies: Choose currencies based on transparent and beneficial projects such as:-
Bitcoin (BTC)
Ethereum (ETH)
Cardano (ADA)
PAX Gold (PAXG)
Second steps to achieve profits:
Long-term investing (HODLing): Buy a halal currency with a small amount and hold it until its value increases by 20-30%. For example, invest $10 in BTC or ADA and wait for it to increase to make profits.
Simple trading: Buy when prices are low and sell when they are high to profit from the difference, avoiding any trading tools such as leverage or futures.
As for my information about Binance Earn, it is not confirmed and is questionable in Islamic law, and there is a lot of controversy among scholars about when returns are permissible or forbidden, and I am not responsible before God for those who use it, and God knows best.
Third, tips for risk management:
Start small: Don't invest all your money at once.
Stay informed: Follow news and updates in the market.
Avoid greed: Focus on making incremental, sustainable profits rather than chasing quick profits.
Fourth: Examples of halal currencies for investment:
Bitcoin (BTC): A decentralized digital currency used to exchange value.
Ethereum (ETH): A platform that supports smart contracts and innovative projects.$ETH
Cardano (ADA): An environmentally friendly and transparent project that promotes the development of decentralized applications.$ADA
PAX Gold (PAXG): A gold-backed currency that is considered a safe investment tool.$PAXG
Fifth and finally:
Reaching your first $100 on Binance requires patience and the right plan. Start small, choose halal currencies, and be careful not to use any prohibited trading tools such as leverage.
By following these steps, you will be able to make halal and sustainable profits in safe and Sharia-compliant ways.
Tips to speed up your goal:
Diversify your investment: Do not put all your investment in one currency, but distribute the money across several halal currencies to reduce risks and increase the chances of profit.
Keep up with market news: Keeping up with financial updates and technical developments can help you make better decisions.
Regular Investing: Make a plan to add small amounts regularly to enhance your investment growth opportunities.
Very important note: You must be realistic and patient, as achieving the first $100 may take time depending on market conditions and your ability to follow the plan regularly.