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Interest On Digital Currency?
Hi, how are you, I have a question that I want to convert my money into a digital coin and in the app there are schemes that if you give your digital currency to them, they will give you interest on that coin so does it halal or haram in islam
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2 Replies
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Interest On Digital Currency?
updated 2 years ago
3 Members
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2
Replies
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If it is an investment and they pay you a certain amount of profit, it is halal.
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Demanding profit on loan is Riba (Sood) and is Haram in Sharia. Investment/financing in any company doesn’t fall in this category. You have to decide whether it is a lending arrangement or genuine financing.
To study this issue in further detail, please refer to the following thread:
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