Is Bitcoin Gold (BTG) Halal or Haram?
Shariah compliance review of Bitcoin Gold (BTG) by Islamic finance scholars at EthicalNode, with separate verdicts for trading and for staking.
Trading verdict: Comfortable
Bitcoin Gold's ecosystem includes features that are common across other networks. Like Bitcoin, Bitcoin Gold utilizes a proof-of-work consensus mechanism. The entire ecosystem is a fork of Bitcoin, and the processes and activities within this network are deemed permissible. Source: sharlife.my
Staking verdict: Non-Comfortable
There is no Proof of Stake consensus, the chain functions on Proof of Work protocol, which is "mining". This is why any so called "staking" or other instrument with a fixed yield for this cryptocurrency is at least questionable, because it lacks participating in creating new blockchain transactions in the blockchain. You can read more about Proof-of-Stake protocol on our Blogs section below this crypto list. However, we are not talking about other pledge or liquidity instruments that involves BTG. It will have a separate ruling.
Browse all Shariah-compliant cryptocurrencies on the EthicalNode halal crypto screener.