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#halalcrypto #islamicfinance
How can you tell if a cryptocurrency is halal or haram to invest in?
With thousands of different cryptocurrencies out there and more cryptocurrencies being created all the time, it is simply not practical or efficient for Muslims to have to rely on a few trusted sources to figure out the Halal question for each and every crypto.
It is much more practical to teach the process for evaluating different cryptocurrencies so that individuals can apply it for themselves and not have to rely on others to do the analysis for them.
So in this video I’m going to share the things that I look for when trying to determine if a particular cryptocurrency is halal or haram to invest in.
To summarize, the first step in ascertaining whether a cryptocurrency is halal or haram is to have a firm understanding of it is and what it does or is intended to do.
Then answer the question: where does this cryptocurrency get its value? Put differently, what is driving demand for this cryptocurrency?
Let me know what you think in the comments!
Disclaimer: Anything you hear in this video is an opinion. It is not to be considered personalized financial advice. Make sure you do your own due diligence before making any investment decisions.