Assalam-o-alaikum Dr Zakir Naik,

My Name is Dr. Muhammad Nauman.I am professionally Dentist and I am practicing Dentistry here in Saudi Arabia since 2007.I want to ask you about Bit Coin or One Coin. Is it Halaal or Haraam in Islam to buy or trade on Bit Coin or One Coin for future benefits?
Furthermore if it is haraam please mention the reason that why it is haraam with reference to Quran and what are its consequences?
This is my second question that in near future, it is expected that all paper money would be demolished and only cryptocurrency (Digital Currency) would be available.So, using digital currency is halaal or haraam?

I am looking forward to hear from you soon. Because my elder brother is insisting me to start trade on one coin by registering on their website.

Kind Regards,
Dr. M

It is the statement "future benefits" if you are investing in it, for profit from interest, then you know that answer, of course it is wrong.

And no, there will be paper money till your grandchildren are old and you are long dead. Perhaps one day there will not be paper money, but in many parts of the world, paper money is about the only method of payments.

Merely the use (or non use of any method of payment is not good or bad.
Paper money can be bad, if you are not using it properly, and if you are looking at it to make a improper profit.

I would imagine that the Muslim world has differences of opinion about this, so I would ask your imam.
Before you invest in Bitcoin, please learn more about it. If you don't take credit and debit cards yet, do that form first. Second would be online forms of money transfer that uses no cards. I like Paypal, but don't know if it's available in SA yet. Maybe Applepay and Square are.

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