Darul Ifta Ibn Masood

Investing in crypto

· 6 Rabiʻ I 1445 AH1 min readEnglish

Question

In crypto-mining, there is something called “staking” which is basically an investment to confirm the transactions on a blockchain. After the transaction is confirmed in this manner, a fee is paid to the validators for this. Is staking in the validator’s pool in this way permissible?

Answer

We do not approve of investing in crypto currency, hence we advise abstention.

Answered by
Mufti Mohammed Desai
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Source: Darul Ifta Ibn Masood — https://fataawa.co.za/investing-in-crypto/
Fatawa SA: https://fatawa.co.za/fatwa/ibnmasood-27083

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