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It should be noted that the cryptocurrency or digital currency that is prevalent in the global market today is a fictitious currency, it does not have the basic characteristics and conditions of real currency at all; Therefore, the business that is going on in the market in the name of buying and selling crypto-currency is not halal and legitimate, this currency does not actually have a seller, i.e. a material thing, and it is not even possessed, only some calculations in the account. The number of comes; Therefore, cryptocurrency or digital currency transactions should be avoided
ان ممالک کے بارے میں کیا خیال ہے جہاں کرپٹو کرنسی کو قانونی حیثیت حاصل ہو چکی ہے؟ میری مراد یہ ہے کہ ریسٹورنٹس، شاپنگ مال وغیرہ کرپٹو کرنسی کو بطور کرنسی قبول کرتے ہیں. اگر وہاں قانونی طور پر ممانعت نہ ہو تو کیا اجازت ہوگی؟
Cryptocurrencies themselves do not have intrinsic value, like gold, silver, etc. (although we will find some cryptocurrencies in the market right now that have gold behind them). Likewise, there are other factors that make the cryptocurrency market so volatile, such as mining, which consumes a lot of electricity. In summary, cryptocurrencies are highly volatile due to speculation.
Why are crypto-currencies not accepted by banks globally?
Cryptocurrencies are not recognized by banks globally, as they work differently. First of all, cryptocurrency is decentralized and relies on the blockchain network. Also, cryptocurrency users can be anywhere in the world. Likewise, cryptocurrencies have no legal status in Ireland or any other EU country