Mufti Online — Madrasah Ta'leemuddeen

Crypto Currencies

· 23 Rajab 1439 AH1 min readEnglish

Question

Is day trading in cryptocurrencies halal? Day trading basically means buying and selling your shares within a day. Note, I have knowledge concerning this subject and for me it is not like gambling. What I do (and almost everyone else does) is checking the chart and based on the chart's movements, I make a decision whether or not it could be a good trade. However, what made me doubt the legitimacy was gharar and maysir. I have done so much research about these terms and it still remains kind of unclear whether it is a form of gharar and/or maysir.

Answer

The Ulama have not yet regarded crypto currencies as a valid currency.

And Allah Ta'ala (الله تعالى) knows best.

Answered by
Mufti Zakaria Makada
Checked & approved by
Mufti Ebrahim Salejee (Isipingo Beach)
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Questions about this ruling, answered only from the archive with sources.

Where scholars differ, it’s safer to take the more cautious view.

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Source: Mufti Online — Madrasah Ta'leemuddeen — https://muftionline.co.za/node/25344
Fatawa SA: https://fatawa.co.za/fatwa/muftionline-25344

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