Cryptocurrency is a very popular medium of exchange and may become an alternative to real currency in the near future. So is investing in crypto halal or haram?

The value of coins and currencies used in a country was based on the amount of gold and silver deposited behind them. But today the investment of the country's currencies is calculated on the basis of the total assets and services of the nation. The currency will only have value if there are investments behind it but the cryptocurrency that exist today and all its denominations such as Bitcoin, one coin and Morri’s coin are de centralized or have no control or approval by any government or authority. Cryptocurrency came into effect in 2008 and 2009. Satoshi Niko Moto (No one knows who it is, whether it's a man or a woman or an individual or a group) invented the cryptocurrency when it first came into force. Similarly, the one-coin scheme, a branch of cryptocurrency, was merged with MLM to get a lot of people involved in it, which reached a very high level and one morning a massive scam took place. The fact is that there is no government or other authority that can recoup the losses incurred by consumers. Such big scams are behind this.

Now, if we look at cryptocurrency transactions from an Islamic perspective, the Prophet (peace and blessings of Allah be upon him) said  لا تبع ما ليس عندك  You have no right to sell someone else's property that you do not own Moreover, Islam does not allow one to sell an object that he owns (for how long) even if he does not have access to it. Islam has closed all loopholes in the form of fraud and deception. Therefore, no transactions with cryptocurrency and its denominations such as Bitcoin and Morris coin are permissible in the Islamic view.