Post
Topic
Board Altcoin Discussion
Re: Staking is not for Muslims
by
doomloop
on 25/03/2021, 04:41:40 UTC
Staking in crypto is like interest in Fiat.
You lend (stake) your crypto and get reward (interest) for it.
I suggest all my Muslim brother to stay away from this new kind usury.
Isn’t staking an investment? Well, why are you trying to act like you’re all perfect or something? If you’re going to be acting all that perfect then I guess you should totally stay away from Bitcoin and every cryptocurrencies, because the way I see it, all these things are investment that you’re doing. Some of you invest in bonds and mutual funds and you get interest on them without knowing what your invested money was used for, so it’s the same thing, except that in this case you’re being told exactly what your money is being used for.

Moreover, do you know the meaning of the word ‘Usury’ that you used there? It means lending money at unreasonable high interests, and I don’t think there is any religion that doesn’t cancel that. Then check how much you’re getting from staking cryptocurrencies? Mostly 4% and you call that an usury, like seriously? Huh Well, just do what’s best for you.