Question:
786
salam,
Is the money made off from investing in a cryptocurrency (e.g. bitcoin, ethereum and ripple) deemed haram? If so, is it permissible to give the haram money away to charity? (including a muslim who needs financial help). Jzk.
Answer:
The market value of cryptocurrency is extremely unstable and it is ungrounded in any tangible wealth, so it has the characteristics of a haram currency and riba-based wealth. The name itself is a give-away as crypto means invisible, as if to say it is akin to a jinni currency, like trading and playing with dark smokeless fire. If in doubt one should steer clear of it, and if certain that it is haram then one should get rid of it and expect no reward. Allah knows best.
Hajj Gibril Haddad
