Is Ethereum Halal or Haram — We have researched for you

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Is Ethereum Halal or Haram — We have researched for you

As we are growing digitally and investment options are changing dynamically, it becomes important to keep a check on them. At Halal Trading Brokers, our team reviews all available cryptocurrencies and platforms to bring Halal suggestion. 

When it comes to Ethereum’s popularity, it is among the fastest-growing blockchain technology and cryptocurrency. Millions of people are leveraging this altcoin to diversify their portfolio. If you are also planning to put money into this, you need to read this guide as we have covered Ethereum from an Islamic and Sharia way.

Ethereum is a decentralized online asset like BTC and it functions as a medium of exchange like money that is Halal as per pious Islamic and Sharia laws given by Muhammad Prophet. When you buy or perform trading in Ethereum (in a riba-free way), you are owning a part of that organization by having Ethereum’s private key. It makes your Ethereum investment Halal and Sharia-compliant. 

Many people confuse cryptocurrency including Ethereum with gambling, but it’s not. Gambling is when you put your money in something that you don’t own. With Ethereum, you are investing your money into an asset that is operated under a company.

If you want to get started with Ethereum trading and not sure where to start, we are here to help. Get in touch with us using the contact form and our team will be happy to help.

What is Ethereum? Know the complete system

Ethereum is the second-largest widely used decentralized currency after bitcoin. Ethereum offers more vast applications than bitcoin offers. It is a complete platform where anyone can write code and make applications. Clearing the confusion, Ethereum is a vast open-source network and Ether is a derived cryptocurrency in which people invest their money.

Talking a little bit about its history, in November 2013, Vitalik Buterin published an Ethereum whitepaper. In the year 2014, the development of the Ethereum platform was announced and after a couple of months, Ethereum ICO raised $ 18.4 million funding and the company released its test net under the name of Olympic. Cutting it short, in the year 2016, the company released its first stable Ethereum that went out on block 1,150,000.

After its stable release, this cryptocurrency got a huge spike in popularity and as of now, it holds the market capitalization of $24.80B. Many people just know about cryptocurrency but Ethereum is the second-largest and circulated decentralized cryptocurrency. It’s among the safest and fastest transaction platforms also that is used by many companies and organizations.

Millions of people are diversifying their portfolio in a Halal way to grow their capital. If you searching for the best platforms to invest in Ethereum, we have researched the best Halal brokers all around the world for you. Get started with online crypto trading now.

The difference between Ethereum and Bitcoin explained

It’s a common perception that both Ethereum and Bitcoins are the same but technically both share some major differences. The Ethereum is a full-fledged open-source technology and its coin value is known as Ether. As the bitcoins are bought and sold for the transaction and investment purpose, Ether serves the same purpose and it’s potentially competing with BTC.

Ethereum is a ledger tech that organizations used to build new applications and programs. Both the BTC and ETH operates on the blockchain technology stack. However, Ethereum is more robust and advanced in terms of performing complex operations. To simplify, if Bitcoin was the first version in terms of technology, Ethereum is the second and more robust version.

A major part of people purchases ETH for investment purposes and its a good option for that. From the past couple of years, this stock has shown strong signs of growth. As it’s getting advanced, the prices are also surging because of its security. 

When compared with BTC, the applications of Ethereum technology is more robust and it’s widely acceptable international technology for developing secure payment and other blockchains applications.  

Ethereum is completely a Halal cryptocurrency as you are using it as a medium of transaction. On the other side, while you perform trading in Ethereum, you own a part of that asset that makes it Sharia-compliant.

Start trading with Halal Ethereum Brokers

Online trading is the largest growing investment options available today. Muslims are leveraging this opportunity to grow their capital in a Sharia-compliant way. As Ethereum is a Halal to trade, you can start investing in it using a swap-free account.

A swap-free account is a special Islamic account in which your broker won’t deduct any money for holding a stock’s position overnight. It gives you the freedom of performing trading in a riba-free way. We at Halal Trading Brokers connect you with the best Halal Ethereum broker all around the world.

Coming back to Halal Ethereum trading, many online third-party brokers claim to offer Islamic trading but you need to be careful from them. We review numerous online platforms to suggest you the best Halal for trading. As a novice, it becomes overwhelming to decide which is the right one to get started. But, you don’t have to worry about it as we have done the complete research for you. All you need to do is just get in touch with us using the contact form and we will help you get started with Halal Ethereum trading.

 

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