Staking can be considered halal when:
- It functions as an investment where you provide a service (securing the network)
- Rewards come from actual economic activity (transaction processing)
- The cryptocurrency itself has real utility and value
- There is no guaranteed fixed return resembling interest
Staking becomes problematic from an Islamic perspective when:
- The rewards structure mirrors conventional interest
- The underlying cryptocurrency has no real utility or value
- The staking process involves excessive uncertainty or gambling-like elements
- The blockchain supports activities that violate Islamic principles
Before you decide to stake cryptocurrencies, it's essential to choose the right platform. A reliable crypto exchange like ChicksX can help you buy and store the cryptocurrencies you plan to stake.
