What is the community’s thought on buying Bitcoin? (exclude all other coins from your response). Several Sharia scholars have deemed BTC as Sharia principled, and the Islamic banking pioneer Haaris Irfan has stated, “Bitcoin is the most Islamic form of money to ever exist.” I know there are several opinions on what constitutes compliance after the purchase, i.e., is it for spending, saving, investing, or an inflation hedge? But my curiosity is more about what is the most proper purchasing method, i.e., Coinbase is not a Sharia-compliant company, but would you be okay buying BTC there or trade the Bitcoin ETF even though it doesn’t have a fatwa? Or would you prefer the GCC method and buy from a crypto exchange like Rain in Bahrain, which has a Sharia board? Is it the asset, the purchasing method, or does there need to be a combo of the two for you to join the 21 million club?
Why not buy it from other peers? There are exchanges where you can buy bitcoin directly from other people like RoboSats (although a bit complicated to get started with, but smooth experience overall)
I have not seen RoboSats before. I’ll look into it. The note on having a compliant platform fits in with the need to calculate Zakat and make donations like in the Zoya app for stocks. But also the need to keep track of taxes/1099-b and brokerage-level reporting.