Is Ethereum Halal?

With the development and prosperity of the digital age, investment options in the financial markets are also developing tremendously, and it has become important to know and understand the working of these options. At Halal Trading Brokers, our team reviews all cryptocurrencies and brokers that offer Halal trading in compliance with Islamic principles.

When it comes to the popularity of Ethereum, it must be said that it is among the fastest blockchain technologies with a good difference from all other cryptocurrencies. Millions of people are taking advantage of this digital currency to diversify their investment portfolios. If you are planning to start trading on Ethereum the Halal way, then you need to read this guide because we have covered everything related to Ethereum from an Islamic point of view.

Ethereum is a decentralized digital asset just like Bitcoin and acts as a medium of exchange like Halal money according to Islamic Sharia laws. According to many Muslim scholars, Ethereum is considered a Halal under Islamic law, and this has led to its rise in popularity among the audience of Muslim traders who want to buy cryptocurrencies and use them as a form of investment.

Many people confuse cryptocurrencies including Ethereum with gambling, but it never is. Gambling is when you put your money into something you don’t have. With Ethereum, you are investing your money in an asset that is operated by a company.

If you want to get started trading Ethereum and are not sure where to start, we are here to help. Leave your contact details below and Halal trusted broker will contact you soon.


What is the Ethereum Cryptocurrency?

Ethereum is the second most widely used decentralized currency after Bitcoin. Ethereum offers more extensive applications than Bitcoin. It is a complete platform on which anyone can write code and create applications. In short, Ethereum is a vast open-source network and Ether is the digital derivative currency in which people invest their money.

In November 2013, Vitalik Buterin published a white paper on Ethereum. In 2014, the development of the Ethereum platform was announced and two months later, the company raised $18.4 million in funding and released its test net under the Olympic name. In 2016, the company released the first stable Ethereum to be introduced in the blockchain.

After its stable release, this cryptocurrency got a huge rise in popularity. So far, its market value has reached $352.06 billion. Ethereum is among the safer and faster transaction platforms that are also used by many businesses and organizations.

Millions of people are diversifying their portfolios in a Halal way to grow their capital. If you are looking for the best platforms to invest in Ethereum, we have researched the best Halal brokers around the world for you. Start trading Halal cryptocurrencies trading with the halal brokers we recommend on our site.


The difference between Bitcoin and Ethereum

It is well known that both Bitcoin and Ethereum are similar but differ in technical aspects. Ethereum is a fully open-source technology and the value of its coin is known as Ether. Since bitcoins are bought and sold for transactions and investment, ether serves the same purpose and is likely to compete with bitcoin.

Ethereum is a ledger technology that organizations use to build new applications and software. Both BTC and ETH run on blockchain technology. However, Ethereum is more powerful and advanced in terms of performing complex operations. To simplify, if Bitcoin is the first version in terms of technology, then Ethereum is the second and more powerful version.

Compared to Bitcoin, the applications of Ethereum technology are more powerful and it is a widely accepted international technology for developing secure payment and other blockchain applications.


Trade Ethereum with Halal Broker

Online trading is the largest investment option available today. Muslim traders take advantage of this opportunity to grow their capital in a Shariah-compliant manner. Since Ethereum is Halal to trade, you can start investing in it with an interest-free account.

The interest-free account is a special Islamic account in which the broker does not debit any money for holding a position or trade for the next day. This gives you the freedom to conduct trading in a Riba-free manner. We at Halal Trading Brokers introduce you to the best Halal broker in Ethereum trading worldwide.

As for Halal Ethereum trading, many online brokers claim to offer Islamic trading, but you have to be wary of them.

We review several online brokers to suggest to you the best Halal products for trading. As a beginner, it becomes difficult to select the right broker to get started. But, you don’t have to worry about that because we’ve done the full research for you. Leave your contact details below and Halal trusted broker will contact you soon.