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  1. #1
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    Cryptocurrency and staking

    Asalam Aleykum.

    Some new coins that are coming out have a staking feature in them - which is a way to encourage people to buy and hold more of these coins. Staking is basically when you keep your wallet online and depending on how many coins you hold, you get a % for keeping the wallet online and contributing to their blockchain transactions etc. Keeping the wallet online does serve a purpose.

    They actually call it interest - but has anyone done any research to see if these rewards are permissible?

    JazakAllah khair,

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    Re: Cryptocurrency and staking



    Are you referring to Proof of Stake: https://en.wikipedia.org/wiki/Proof-of-stake ?

    By wallet, I assume you mean keeping your "full node" online so that the node can participate in tx-validation?

    You will firstly need to clarify the technical aspects before we can consider halaal/haraam.

 

 

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