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Thanks for watching our video: Are crypto futures halal?
A Futures contract is an agreement to sell an asset at some point in the future for a price that is determined today.
They are very commonly used in cryptocurrency trading.
As a party to a cryptocurrency futures contract, you have a financial obligation to the counter-party to either buy from them or sell to them.
If you decide to sell your financial obligation by selling your futures contract, you’re selling a debt which is riba.
Moreover, the majority of cryptocurrency futures contracts are cash-settled.
“Cash-settlement” means at settlement the investor takes cash instead of physical delivery of the underlying assets.
In this case, the futures contract becomes just a bet on price [prohibited al-maisir] since there is no asset involved.
If the price is above a certain level, one party pays the other party. If the price is below a certain level the opposite happens.
So when futures involve interest, are bought or sold, or are cash settled, I’m uncomfortable with them from a halal perspective.
And Allah SWT knows best.
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Our channel is about helping people invest to build wealth in a halal way. We cover topics such as halal crypto investing, halal stock investing, and halal product reviews.
DISCLAIMER
Anything you hear in this video is an opinion. It is not personalized financial advice. Make sure you do your own due diligence before making any investment decisions.
