To determine whether a cryptocurrency is halal or not, there are a set of Sharia criteria that you can follow, which are:

1. Legitimacy of the primary activity of the currency

Make sure that the currency or project based on it serves a legitimate purpose, and is not related to prohibited activities such as gambling, usury, or prohibited products.

Stay away from currencies that target unethical or illegal activities.

2. No usury (interest)

Verify that the currency does not rely on interest or usurious mechanisms in its operations.

Some currencies may have systems such as lending on interest or contracts that rely on usury.

3. No deception or excessive ignorance

Gharar means there is no clarity about the nature of the currency or project. Make sure you fully understand how the currency works, its objectives, and how profits will be made.

Avoid coins that are suspicious or do not provide enough information about their team and project.

4. Ensure the legitimacy of currency-related contracts

Any dealing with currency must be through clear contracts that comply with the provisions of Sharia, such as buying and selling, and not derivative contracts or high speculation.

5. Stay away from meme-like and highly speculative currencies.

Currencies that have no real value or practical utility are considered more like gambling, so they should be avoided.

6. Consultation with legal specialists

If you are unsure, you can refer to a scholar or Sharia committee specializing in financial jurisprudence.

Some institutions such as the Islamic Fiqh Council and Dar al-Iftaa provide fatwas on cryptocurrencies.

7. Legality of trading on the platform

Make sure that the platform you use to trade cryptocurrencies does not charge interest on deposits or withdrawals or offer services that conflict with Sharia law.

General advice

Do a thorough study of any cryptocurrency before investing.

Make sure to choose coins that offer clear added value and a useful project for the community.

If you are hesitant, it is better to

Stay away from currency until you get a clear legitimate answer.