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is bitcoin mining halal

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Bitcoin mining is clearly halalunder Islamic law as it does not involve haram activities. Blockchain technology contains most of the Islamic requirements for a halal transaction such as the recording of all transactions and the availability of witnesses as blockchain is open,fair,and transparent.

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  • Is bitcoin mining halal under Islamic law?

  • Bitcoin mining is clearly halal under Islamic law as it does not involve haram activities. Blockchain technology contains most of the Islamic requirements for a halal transaction such as the recording of all transactions and the availability of witnesses as blockchain is open, fair, and transparent.

  • Is it haram to mine bitcoin?

  • Bitcoin (or any cryptocurrency for that matter) is not backed by a government; therefore, all aspects of Bitcoin, including mining bitcoin, is haram since there is no government approval. Bitcoin mining is resource intensive and uses too much energy which in turn is bad for the environemnt; therefore, Bitcoin mining is haram.

  • Is cryptocurrency trading halal in Islam?

  • Currency trading is not halal if it involves riba, which is haram in Islam. Motiur is a fintech writer and digital marketing specialist based in Stockholm. He has a Masters Degree in Information Systems from Linnaeus University in Sweden.

  • What is the role of bitcoins in Islamic banking and finance?

  • Bitcoins and many emerging areas of Islamic banking and finance are discussed in diploma in Islamic finance , Islamic finance course and master in Islamic finance programs offered by AIMS. 鈥淏itcoins remain anonymous when you deal with it. Cryptocurrencies facilitate money laundering, drug money and haram (forbidden) money.