This Ramadan will be a special one for Muslims who own Bitcoins as a Mosque in the UK is now the first to accept cryptocurrency donations. Cryptocurrencies are acceptable in the sight of Allah Religious advisers at the Masjid Ramadan in Dalston, east London declared. They also said that the currency is halal (permissible) if it is “transacted in a lawful manner”. Zayd al Khair, a religious adviser at the mosque, explains why cryptocurrencies are acceptable saying,
“Guidance is about the value which it represents. If money is transacted in a lawful manner then it is halal.
“We do not always know the source of cash donations, but we take these in good faith too.”
The Muslim world have been having debates about cryptocurrencies with top personalities such as the Mufti of Egypt saying it was forbidden or even haram, because it could easily be used by some for illegal activity since it has an anonymous in nature.
However, Muslims can use cryptocurrencies for their zakat, their Ramadan donation, the mosque has declared. During Ramadan, Muslims are to give away 2.5 percent of their wealth to charity, the zakat is an annual donation which all Muslims but the poorest should perform. The donations are used to help out struggling families, pay for funeral cost, provide shelter, feed the poor and carry out repairs in the mosque
Two cryptocurrencies will be accepted as donations, Bitcoin and Ethereum by the Shacklewell Lane Mosque, will accept donations in two different cryptocurrencies, Bitcoin and Ethereum.
What do you think about Mosques accepting cryptocurrencies? Share your opinion with us in the comment section below.
Image credit: pixabay
The Information provided on the website is designed to provide helpful information regarding cryptocurrency subjects. The content is not meant to be used, nor should it be used as a basis, foundational knowledge or prerequisite for decision making regards trading. Always do your own research and due diligence before placing a trade. We are not liable for any outcome based on any content found on the site.
Latest Episode on Inside Blockchain
Crypto News Update
Crypto Bootcamp Community Celebrates Bitcoin Pizza Day Across Africa
The advent of Bitcoin has paved the way for seamless cross-border payments. The demand for third-party intervention in financial transactions...
Explore, Build Assets, Fight and Earn in the Supernova Space
A new economy was opened in 2017 when blockchain was integrated into gaming to produce the first Web3 game: CryptoKitties....
Owl.Games: The Rise of Crypto Games in the Casino Industry
Crypto gaming used to be new a few years ago but it’s going mainstream now. However, there are some sectors...
BCAT Africa: Reducing Unemployment in Africa
One of the greatest lines spoken in the Spiderverse is “with great power comes great responsibility”, although it can be...
Gamified NFT Platform Trove Announces Launch Partners SideQuest
Trove has announced its new Launch Partnership with SideQuest, a gamified risk-to-earn NFT collection. It was announced on Twitter today. ...
- Move To Earn: Keep Fit, Sport, Connect and Earn on the Calo Metaverse
- Top 5 Move-to-earn Applications on Google Playstore
- Top Move-to-Earn Projects Below $100 Million Market Cap
- MetaRuffy: An Intersection of Blockchain, Web3, VR, and AR
- Crypto Bootcamp Community Celebrates Bitcoin Pizza Day Across Africa