Salam,
I have started investing in cryptocurrency, and currently I am using Coinbase. However, I have heard of some security issues with the platform, and I was wondering if anyone had any recommendations for some other trading platforms (BTW, is Binance halal? I am not really sure how to really approach this)
Yeah people say Binance is the best for beginners - which is why I use it. Both Binance and Coinbase are halal…but they do sell haram products - leverage, options etc. Sort of like a supermarket - you can only buy the halal stuff, which in crypto means you can only buy halal coins, no futures/options/derivatives etc.
FYI I’m not a shaykh, and a crypto beginner myself. Allah knows best.
FYI – Options some Scholars has allowed it, so it would be choice not Haram.
Also, you can use Robinhood to buy crypto but they have limited availability, but if you are looking for more alt coins than coinbase, i would not recomend Binance due to china affiliation
Out of interest, which scholars have said Options are halal?
(Am going to stick with the scholars I follow, but just interested.)
I was of same opinion till a month ago that options are not permissable, till i went through this course, and changed my position. (As this course covered for and against - views)
Thanks for sharing, Azeem.
The link is a teaser for the course. Do you mind proving a short summary of the arguments making options trading halal?
Many thanks.
I am using Robinhood & Coinbase pro. If you have coinbase account you can use the same login account for coinbase Pro it has more options and lower fees in comparison to coinbase.
you can also try https://www.webull.com for stocks & Crypto
Brother Jaafar, It may not be fair to summarize especially the course has a fees, and I am not well qualified to do that, in general, it has corrected some of my assumptions.
brother Azeem, thank your for confirming my assumption.
I will stick with the opinion of the vast majority of scholars, which is derivative securities are not halal.
sorry brother Jaafar, if i was not clear, when i said it corrected my assumptions, as I used to assume same that they are not permissable, but this course has open my eyes, that we have Scholars who has termed them as permissable answering each of the issues raised. So I changed my position on this, and now this may be personal choice where heart lies.