Scholars differ, and there is legitimate ikhtilaf on this contemporary issue. Some permit trading established cryptocurrencies, treating them as a recognized medium of exchange or a tradable asset that people value, provided the transaction is free of interest and the coin is not tied to a haram enterprise. Others prohibit or strongly caution against it, citing excessive uncertainty (gharar) from extreme volatility and lack of intrinsic backing, resemblance to gambling and speculation, and the absence of a stable, recognized issuing authority; selling based on gharar is forbidden. Prudence suggests avoiding purely speculative day-trading of obscure coins, avoiding any interest-bearing "staking" or lending schemes, and following a trustworthy scholar or fiqh council on the specific asset.
Q&A · Business & Finance
Is buying and trading cryptocurrency permissible?
Informational, not a personal fatwa. Consult a qualified scholar for rulings on your situation.