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KOHENOOR KEN
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Which of the many new listings on Binance are worth buying? Less than 10% of projects being listed on Binance are worth buying. Binance is the # 1 exchange so the buzz and hype are natural. Binance has a good success rate too. 10% is a huge success percentage. On the majority of other exchanges this can be under 5%. So, 90% of projects are either too new to buy and hold or they're dubious. As long as we are here any project which is not reviewed by KEN is not worth buying. That's a simple formula

Which of the many new listings on Binance are worth buying? Less than 10% of projects being listed on Binance are worth buying. Binance is the # 1 exchange so the buzz and hype are natural. Binance has a good success rate too. 10% is a huge success percentage. On the majority of other exchanges this can be under 5%. So, 90% of projects are either too new to buy and hold or they're dubious. As long as we are here any project which is not reviewed by KEN is not worth buying. That's a simple formula

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There is confusion regarding cryptocurrencies and whether trading them is permissible in Islamic Shariah or not! We are a Mudharba based company and have access to multiple sources for getting the most authentic verdicts and research oriented opinions of scholars. References may be provided if someone needs. Based on that we respond to the two basic queries as follows: 1. Blockchain based Cryptocurrencies with DeFi as the base model to govern them is thoroughly permissible in Islam. Like all technologies, it is the use that defines the ends and not the technology itself. The decentralized model is rather preferred by Islam. There are dozens of verdicts (فتاویٰ) available on web including one from the Senior Saudi Jurist that cryptocurrencies as well as trading them in spot, with or without a broker, is permissible. 2. Trading in the spot markets is permissible whereas on leverage, the opinions are slightly different. The popular opinion rejects trading in margins and futures declaring both prohibited based on the ground that the two violate the fundamental principles. One is the principle of ownership prior to selling and the other is of course Riba-free trading. The less popular opinion upholds that the rules of the game in cryptocurrencies differ from stock exchanges and money markets. The rules that are applied to fiats cannot be applied to digital assets. As long as the interest (Riba) is not explicitly involved in financing for margins and futures, none can declare such trading as prohibited. The group of jurists upholds spot trading but dislikes margins and futures instead of tagging them as prohibited. #Islamic
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