Cryptocurrency Q&A
Is it haram to earn money on Binance?
Is it haram to earn money on Binance?
TaekwondoMaster
Sun May 12 2024
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7 answers
1688
Excuse me, I've been hearing a lot about Binance and its potential for earning money through cryptocurrency trading. However, I'm also mindful of religious and ethical considerations. Could you please clarify for me if earning money on Binance is considered haram, or unacceptable, according to Islamic principles? I'd appreciate your insights on this matter, as I'm trying to strike a balance between financial growth and adhering to my religious beliefs.
7 answers
Sara
Tue May 14 2024
When it comes to exchanges like Binance, certain activities such as margin trading, futures trading, staking, DeFi staking, earn services, loans, dual investments, and borrowing are considered Haram.
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BlockchainBaronessGuard
Tue May 14 2024
This means that these activities are not permissible according to certain religious beliefs.
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Federico
Tue May 14 2024
Binance, specifically, even for its normal staking services, offers rewards in addition to other features.
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VoyagerSoul
Tue May 14 2024
Cryptocurrency, in general, is a debatable asset for buying, selling, or keeping.
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DondaejiDelightful
Tue May 14 2024
However, the only activity considered Halal on Binance is spot trading.
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