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šŸƒIs cryptocurrency haram or halal?haramšŸƒ Trading futures in cryptocurrency is generally considered haram in Islamic finance. This is due to its speculative nature, likened to gambling, and the involvement of uncertainty and risk, which contradict Islamic principles emphasizing risk-sharing and avoiding speculation.

šŸƒIs cryptocurrency haram or halal?haramšŸƒ

Trading futures in cryptocurrency is generally considered haram in Islamic finance. This is due to its speculative nature, likened to gambling, and the involvement of uncertainty and risk, which contradict Islamic principles emphasizing risk-sharing and avoiding speculation.

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šŸƒCan Bitcoin Reach $100,000 by 2024?šŸƒ The current year is the year of Bitcoinā€™s fourth #halving . It is expected to occur in the month of April. It forms the basis of #Bitcoinā€¬ ā€™s monetary policy and supports its increasing scarcity by cutting Bitcoinā€™s supply growth rate in half approximately every four years. At one point the supply growth rate of Bitcoin exceeded 10%, but it has been cut to about 1.75%. In the halving month, i.e. anticipated in the month of April, this year it will fall to just 0.85%. The BTC halving will continue until all the 21 million coins are mined, sometime in the year 2140. Currently, around 19.6 million BTC coins are circulated in the cryptocurrency market.
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šŸƒWhat is the disadvantage of Binance?šŸƒ There have been lawsuits against the exchange and investigations into its relationship with Binance. Another major disadvantage is the inability to execute transactions in U.S. dollars on the platform.
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šŸƒIs Binance still safe?šŸƒ While Binance has faced regulatory scrutiny and accusations of non-compliance, it remains the largest cryptocurrency exchange with millions of users worldwide. The platform continues to enhance its security measures and provide a range of tools for users to protect their assets.
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šŸƒWhat age should I start crypto?šŸƒ There are technically no age restrictions for trading or mining in cryptocurrencies ā€“ although established sites such as Coinbase and Paypal require users to be at least 18.
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šŸƒWhy is Bitcoin haram?šŸƒ Shaykh Shawki Allam ā€œIn my opinion, the trading of cryptocurrency is haram. This is because it is not approved by legitimate bodies as an acceptable medium of exchange. Such currencies are used in contraband trading and money laundering,ā€ he said.
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