Crypto Currencies

Q: Is day trading in cryptocurrencies halal? Day trading basically means buying and selling your shares within a day. Note, I have knowledge concerning this subject and for me it is not like gambling. What I do (and almost everyone else does) is checking the chart and based on the chart's movements, I make a decision whether or not it could be a good trade. However, what made me doubt the legitimacy was gharar and maysir. I have done so much research about these terms and it still remains kind of unclear whether it is a form of gharar and/or maysir.

A: The Ulama have not yet regarded crypto currencies as a valid currency.

And Allah Ta'ala (الله تعالى) knows best.


Answered by:

Mufti Zakaria Makada

Checked & Approved:

Mufti Ebrahim Salejee (Isipingo Beach)