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Is Bitcoin Allowed in Islam?

Shaykh Sulayman ar-Ruhayli explains that cryptocurrencies like Bitcoin are not permissible. They have no real value, are not backed by any government, and their price depends only on market fluctuations. Investing in them is risky and considered a waste of wealth.

Ṣalaḥ al-Irānī December 7, 2017

Financial Transactions

Ruling on Wealth Earned Before Islam

A man earned money through singing before accepting Islam. After guidance, he asks whether this wealth is permissible to keep. Shaykh Muqbil ibn Hadi al-Wadi’i explains that since it was earned in a state of disbelief, it is allowed, and may be spent on needs or charity.

Ṣalaḥ al-Irānī September 6, 2016