Islamic scholars have long debated the permissibility of futures contracts. The general consensus is that they are permissible if the underlying asset is permissible, and if the contract is settled in cash.
However, there is some disagreement about whether cryptocurrency futures are permissible.
Binance is a cryptocurrency exchange that offers futures contracts on a variety of cryptocurrencies. Some of the cryptocurrencies that are available for trading on Binance Futures include Bitcoin, Ethereum, Litecoin, and XRP.
The vast majority of Islamic scholars would say that Binance Futures contracts are permissible as long as the underlying asset is permissible. However, there are a few scholars who have raised concerns about the permissibility of cryptocurrency futures.
NOTE: WARNING: Trading Binance Futures may be considered haram (forbidden) in certain countries and according to certain Islamic scholars. It is recommended that you consult a qualified Islamic scholar and research the laws of your country before trading Binance Futures, as it may be considered a violation of Sharia law.
One of the main concerns is that cryptocurrencies are not well-regulated. This could lead to manipulation and speculation, which could ultimately hurt investors.
Another concern is that cryptocurrencies are often used for illegal activities, such as money laundering and financing terrorism.
However, it is important to note that Binance Futures contracts are cash-settled. This means that there is no actual exchange of the underlying asset taking place.
Instead, investors simply agree to buy or sell an asset at a certain price at a future date. This reduces the risk of manipulation and speculation, as there is no actual asset to buy or sell.
Overall, it is up to each individual Muslim to decide whether they believe Binance Futures contracts are permissible or not. However, the vast majority of Islamic scholars would say that they are permissible as long as the underlying asset is permissible and the contract is cash-settled.
10 Related Question Answers Found
Binance is one of the most popular cryptocurrency exchanges in the world. Founded in 2017, Binance has grown to become one of the largest exchanges in terms of trading volume. Binance offers a wide range of features, including a spot exchange, margin trading, derivatives, and more.
Binamon is not a Binance. Binamon is its own separate entity that offers a different set of services than Binance. While both platforms may offer cryptocurrency trading, Binamon focuses on providing a more comprehensive suite of tools for managing one’s digital assets.
Binance Coin is a cryptocurrency with a utility function on the Binance Chain, a decentralized exchange. Binance Coin is used to pay transaction fees and listing fees on the Binance Decentralized Exchange. Binance Coin can also be used to pay for goods and services, similar to how one would use fiat currency.
Binance is one of the most popular cryptocurrency exchanges in the world. Binance US is a new entity created by Binance, with the goal of providing a crypto trading platform for US-based users. Binance US will have its own set of rules and regulations, which may differ from those of Binance.
This is a difficult question to answer, as there is no clear definition of what a “Binance” is. However, we can look at the characteristics of both Benqi and Binance to try to come to a conclusion. Benqi is a cryptocurrency exchange that allows users to trade digital assets such as Bitcoin, Ethereum, Litecoin, and others.
Binance is one of the most popular cryptocurrency exchanges out there. It offers a wide variety of coins to trade, including Bitcoin, Ethereum, Litecoin, and more. But is Binance a trading platform?
Binance US, a digital asset marketplace, is operated by BAM Trading Services Inc. and based in San Francisco, California. The company is a subsidiary of Binance Ltd., the world’s largest cryptocurrency exchange by trading volume.
Binance is one of the most popular cryptocurrency exchanges in the world. It is known for its low fees, wide range of coins, and fast transaction speed. However, some users have been wondering if FXF is a Binance.
Binance is a world-renowned cryptocurrency exchange that allows users to trade digital assets, including cryptocurrencies. The company was founded in 2017 by Changpeng Zhao and Yi He, and is headquartered in Malta. Binance is the largest cryptocurrency exchange in the world by trading volume.
There has been much speculation as to whether or not Binamon is related to Binance. While there is no concrete evidence linking the two, there are some compelling similarities that suggest they may be connected. For starters, both Binamon and Binance share the same logo.
