How Cryptocurrencies Finds Relevance in Islamic Banking

Cryptocurrencies can be used in many facets of life around the world. Its application in Islamic finance has taken a new turn.

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The onslaught of cryptocurrencies has been felt across the globe in the last decade with resounding implications for banking practices. The use of cryptocurrencies has become widespread in several countries with multifaceted applications.

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How Crypto Works

Cryptocurrency is a modern banking effort that has revolutionized the way people carry out financial transactions. It is an entirely digital form of currency, which means that it exists only in the online space and does not have physical manifestations like coins or paper money.

Cryptocurrency works much like regular currencies do, but without any government intervention or control over its use. Instead of relying on banks to process payments and transfers, cryptocurrency users can make direct peer-to-peer transactions with each other using specialized software applications such as wallets and exchanges.

This type of transaction eliminates third parties from the equation altogether, making it faster and more secure than traditional methods used for transferring funds between individuals or businesses.

The advantages offered by cryptocurrency are numerous. These are:

  • Firstly, since there are no middlemen involved in these types of transactions thereby making much faster value transfers as they don’t require approval from multiple sources before being completed successfully.
  • Secondly fees associated with crypto payments tend to be significantly lower compared to those charged by conventional payment processors due to their decentralized nature.
  • Finally, cryptocurrencies offer increased security due to their cryptographic encryption technology which makes them virtually impossible for hackers or fraudsters trying intercepting user data during transfer processes.

Cryptocurrencies represent a new era in terms banking efforts where users can enjoy greater privacy ,speedier processing times ,and improved security when conducting financial activities .It offers an alternative approach towards handling finances while also allowing users to gain access in global markets at minimal costs .

As this technology continues gaining traction among consumers worldwide we will likely see further advancements made within this sector bringing about even more benefits for all stakeholders involved.

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Sharia and cryptocurrency

The Islamic banking system has been around for centuries and is based on the principles of Sharia law. In recent years, as cryptocurrencies have become more popular, there has been an increased interest in how Islamic banking laws can be applied to them. This essay will explore how Islam banking works with crypto and why it is important for Muslims to understand this concept.

Islamic finance follows a strict set of rules that are derived from Sharia law which prohibits certain types of activities such as usury (charging interest), gambling and speculation, among others. As a result, traditional banks may not offer services related to cryptocurrency due to their adherence to these laws.

In recent years , some financial institutions have begun offering “Sharia-compliant” products that comply with these restrictions while still providing access to digital assets like Bitcoin or Ethereum.  For instance , many new companies are now offering specialized platforms where customers can buy or sell cryptocurrency without having any direct contact with the underlying asset itself.

A model that instead supports the use of contracts between two parties who agree on predetermined terms regarding price movements before executing the transaction is in vogue. The exchanges also provide additional features such as escrow accounts which allow users extra security when trading digital currencies. 

In addition, some countries have started introducing legislation specifically tailored towards facilitating investment in cryptocurrencies within an Islamic framework. These regulations include setting up special committees tasked with monitoring developments in blockchain technology, creating guidelines for conducting transactions using virtual currency wallets and developing standards by which firms must abide if they wish to operate within this space legally.

Such initiatives as enunciated above help ensure compliance amongst all stakeholders involved thus making sure no one party takes advantage over another through unfair practices – something fundamental underlining most religious codes worldwide today including Islam’s own set of ethics and morals known collectively as Shari’ah Law ( الشريعة ). 

Looking Ahead

Overall, understanding how Islam Banking works with crypto is essential not only because it allows Muslim investors access into potentially lucrative markets but also because it ensures fairness and transparency throughout all transactions. These facts should be taken seriously given their importance both religiously and financially speaking.

By familiarizing oneself about key regulatory frameworks governing investments made via virtual currencies then individuals would be well equipped when deciding whether investing their money into digital assets meets their individual needs best or otherwise.

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This Is How The Celsius Network Works

Celsius Network offers investors an opening for a decent ROI with the performance of CEL beating several competitors.

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There are many platforms available for crypto transactions. Most times, these platforms do not meet your needs. Let us look at one of the leading platforms you can use.

The CELSIUS NETWORK is a modern advanced crypto platform that deals with all cryptocurrency-based transactions. Celsius Network has been in existence for years now with appreciable transaction rate and recommendations from high profile companies and individuals. The platform provides an opportunity to keep and invest your crypto assets in addition to collateral-backed loans.

Compared to big competitors in the cryptocurrency market, there is an appreciable increase in the market price of Celsius token (denoted as CEL), this is due to an enhanced ROI as well as volatility, which provides every investor enough opportunity for profits and little or no losses.


The basic thing to do after registering on this platform is to purchase the token (CEL) and trade your positions. Purchasing the token alone does not guarantee maximal output.

This network system allows any form of investment and guarantees an adequate rate for compensation. Every investor is entitled to certain berth of  opportunities depending on investment made.

Investors with less than 5% investment of their assets are not entitled to any bonus profit and discount or loan interest.  They simply earn what they have invested and nothing else in addition.

However, those who invest about 10% of their capital and assets in Celsius Tokens will earn a bonus of about 10% interest and a loan discount. For investors with about 15% CEL Tokens investment, they earn about 20% interest on both bonus and loan.

The highest investors with over 15% of their capital and assets in CEL tokens earn the highest bonus interest of about 35% and discount 30% loan interest.

This is no doubt a great and rare opportunity for everyone, one that is not available on other cryptocurrency platforms.

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Generally, all transactions on the Celsius network are done in CEL Tokens, which is the unit for all transactions. This is to ensure equal opportunity and interest for all regardless of currency and asset. The Celsius tokens are used for all withdrawal and deposit transactions. It also makes you as an investor entitled to bonuses and interest. You need to stake and invest with CEL tokens, to enjoy more benefits.


Earning profits has never been easier with any other cryptocurrency platform than the Celsius network. Celsius network gives you a certain interest as profit on every deposit you make into its platform. Unlike other networks, it charges no extra fee for withdrawal or deposit. Those with over 15% investment earn more profits. Quite an incentive for you to open a new account today.


The platform  provide loans of any value to all their customers as long as the corresponding value of collateral in form of cryptocurrency is met. The CEL tokens allow good rates for loans on the system.


Due to regular increases and competition in the markets, the Celsius network adjusts service rate weekly. Most of these profits are returned to the market to trade.


Their major aim and objective are to provide an equal financial opportunity for all in the crypto world.

       Merits of Celsius Network

  • Deposits and withdrawal are not limited to this platform, without charging extra fees for them.
  • It gives regular interest rate pay-out to all investors.
  • This network provides an opportunity to transact with other cryptocurrencies without extra charges or issues.
  • The customer support service is available 24/7, and are easily contacted for any support.
  • The platform is available in many countries.

 Demerits of Celsius Network

  • Transactions must be made in CEL tokens before a user can earn interest and bonus.
  • As an investor, you are only allowed to own one crypto wallet address for all your transactions. If you wish to change your wallet address, it takes about 24hrs for a complete activation.
  • To register, all your necessary means of identification and details must be completely verified.

All these are what makes Celsius Network stand out in the cryptocurrency market along with its cons which are attempts to provide maximum protection and satisfaction for all investors and to avoid dubious acts. 


  • Q: Is it safe to trust the Celsius network?

After many years in the market with good recommendations and quality service, it is arguably the best and safest cryptocurrency platform for all investors at all levels. The platform protects against cyber threats. The system provides a 2-way verification method for maximum security.

  • Q: How to get a loan with Celsius Network?

Celsius network gives loans to all investors as long as they own a CEL token. Customers are even give discounts on all loans.

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Fan Club Tokens: What are they, and other things you need to know!

Fan club tokens are here, and they deepen the real world uses of cryptocurrencies. Juventus, Atletico Madrid, AS Roma, and more have their fan club tokens live on Binance..

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Blockchain technology, and the ensued cryptocurrency market, has proven to be extremely adaptable. A decade after its inception, it’s harder to find markets where blockchain use hasn’t been proposed than markets where it has, with anything related to the internet having a clear advantage.

 With the appearance of creator-focused blockchains, aimed towards allowing those who create content for the internet, as opposed to the site that hosts it, to profit from both views and advertising, it was only a matter of time before fanclub-like blockchains appeared. And appear they did!

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An e-sports rooted craze

Knowing that blockchain technologies have had a much easier time penetrating groups where technology use and innovation was big, it’s no surprise that one of the first implementations of a fan club token system was e-sports.

It took a while, to be fair, as the first team to announce such a program did so only last year, but by now several have joined the fray and it’s looking like e-sports fan club tokens will be the next big thing in the market, and perhaps the largest change to its functioning since the implementation of Twitch back in 2011.

The e-sports team to first take the steps into the blockchain business was OG, best known for having won the Dota 2 The International championships in 2018 and 2019. The announcement was a relatively quiet one, but coming from such influential figures in the community it still made waves: OG was partnering with crypto startup Chiliz, owners of the platform to offer fan club tokens.

This year, the concept of fan club tokens went even further, reaching real-life sports teams. As of today, several dozen football and sports clubs have tokens of their own, and no, they’re not just for niche clubs – Spanish giant Barcelona FC sold 600,000 fan club tokens back in June, generating 1.2M Euro in revenue in under two hours.

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What do these tokens do? Are they cryptocurrencies?

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A crypto token refers, generally speaking, to any asset exchanged in a blockchain. Cryptocurrencies, like Bitcoin or Ethereum, are tokens, but there are many other types of tokens: Tokens representing services, subscriptions, and even real estate properties exist.

Crypto token properties vary, and with it so do its possible uses. The tokens we know as cryptocurrencies are generally fungible (that is, they are all identical, have the same value, and in many cases you can’t even track what any given token has been used for,) and in most cases they’re also divisible, giving users the chance to own amounts lower than 1 token, usually down to the thousandths, hundred-thousandths, or millionth parts of a token.

Not all tokens share these properties, however, and while fan club tokens could be considered fungible and, depending on the implementation, perhaps also untrackable, they’re certainly not divisible – or at least most of them they won’t be. This is partly thanks to the expected uses of these tokens, which would make it impossible to use in amounts lower than a whole unit.

Fan Club Tokens: Interesting uses that matter to fans

The part that looks most difficult to fathom at first is what these tokens could be used for, or what they might even mean. It’s easy to understand what cryptocurrencies mean, as they’re currencies and also represent ownership over a percentage of a blockchain.

Other tokens can be understood easily too, as a token that represents a service (that is, that can be traded for it) has an intrinsic value, and tokens that represent properties or real estate can be equaled to property deeds.

When it comes to fan club tokens, however, people are often left scratching their heads in wonder, thinking about what they could mean. Do these tokens represent ownership of the team or something?

The answer is no, they don’t represent ownership of the team. Even if you owned all 600,000 Barcelona FC tokens you wouldn’t have a say on team makeup, nor would you receive any part of the earnings the team reported.

What they do represent is the right to a vote – or as many votes as tokens you own – on less important, somewhat superfluous issues the team might want to defer to their fans for. For example, if the sports team were trying to settle on a new uniform, they could make their options public and ask their fans – the ones who hold tokens – to vote on whichever they prefer.

There are other possible uses, of course. Preferential seats could be offered first to token holders, or the right to buy such a ticket could be exchanged for a token. For musicians, particularly pop or rock stars, token holders could be offered special VIP packages, in much the same way current fan club members often get special rates on ticket sales.

Another, perhaps less common, but expected use would be market-based: These tokens, while initially sold at a set price, can well be resold at whatever price the market dictates. People who purchase tokens for a somewhat middling teams might find said tokens greatly appreciate in value after a good season, thus giving them an investment element.

Which of these tokens are out now?

Since the market is still very new, there aren’t all that many teams offering tokens yet live on the market. As of August, the Chiliz network had barely 10 fan club tokens out, and by this writing that list has grown to 20 – small steps, but important ones nonetheless for a growing market.

Among the offered tokens, the most important ones are for OG e-sports team, Atletico de Madrid, Barcelona FC, Juventus, Paris Saint-Germain, and fighting leagues UFC and PFL. The number is expected to increase during 2021, as more people grow aware of blockchain technologies, cryptocurrencies, and how they’re entering real-life.

While definitely a marginal use, fan club tokens might be one of the first blockchain uses to make it to the mainstream, since soccer fans are loud and dedicated – thus not willing to let go of the opportunity to vote on small team decisions.

Moreover, Binance’s recent listing of several fan club tokens can be considered an endorsement of the concept – and in the crypto world, you can’t do much better than having Binance’s support.

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With Companies Investing In Bitcoin, Here Are The Likely Areas of Impact You Need To Know

Companies have turned to bitcoin investment to boost their balance sheet and returns. Here is the picture so far

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With companies investing spare cash in Bitcoin, how will their asset size and return jump look like?

The recent rush of Bitcoin investments by economy giants has unleashed a wave of speculation both over the cryptocurrency market and the traditional one. Many takes have been written about why companies are doing this and what it means for crypto, but there’s been far fewer opinions issued on what this means for traditional markets beyond “companies hedging their bets.”

And yet, it’s understandable that traditional markets wouldn’t know what to do with this information. Until now, economy has always moved around goods and production.

Everything traded in stock or commodity markets had a use, a supply, and a reason to be. Even arguably superfluous items, like jewelry, still have a use (in this case, looking good.) The appearance of bitcoin is not entirely speculative and should have been expected to shake the market.

Why does this new market matter?

As stated above, because it’s entirely speculative. Bitcoin, and its value, isn’t based on anything other than supply and demand for an entirely useless good. There is a world of good to Bitcoin and this can be seen in the huge amounts of money so obscene used in its daily trades that the GDP of several countries is dwarfed in comparison.

Why are companies buying it?

To hedge their bets against a recession, plain and simple. Bitcoin could be thought of as virtual gold (minus the actual, real life uses of gold,) and when markets expect an incoming recession it’s quite common for investment in stocks to drop and investments in certain goods to rise.

While several governments in the world keep acting like nothing is going on and there’s no recession whatsoever, large companies aren’t buying it. They know we’re in the middle of a recession. They know the more than a million deaths from COVID (and counting) plus countless people left with long-term illnesses will take a toll on the worldwide economy.

We just haven’t seen it. So many companies are taking steps to minimize the effect of the recession on their balance sheets.

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Should companies then be recession-proof this time around?

Well, so far, fiat money printers have been hard at work with as much as 23 percent of USD ever printed rolled out just in 2020 alone. What this means is that the real value of fiat currencies has nose-dived while that of Bitcoin has remained intact.

Bitcoin cannot be over-minted over night as its block difficulty cannot be overridden by any legislation. In a sense, bitcoin is recession-proof and companies can boost their asset value by investing in bitcoin.

But the price is going up…

Yes, it is. But only because many companies are buying every Bitcoin on the market.

Being entirely speculative, the value of Bitcoin depends exclusively on supply and demand, and we’ve seen a hugely increased demand for the last few months. But that may or may not last.

Why would it last?

Because once the recession is over and economies start growing again, some of these big players on the Bitcoin market might want to cash out and return their liquidity to fiat currency. Not all will, of course, but here’s the detail with the Bitcoin market: It’s made up of very few people hoarding the vast majority of the supply. The recent uptick in USD value for instance led to a mild drop in BTC trading price.

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So companies will lose? Returns will go down?

Depends on when they buy and when they sell.

Companies that started buying Bitcoin months ago naturally have an advantage, since they bought the tokens at much lower values than the current. This means they have a much bigger space to maneuver in case the market crashes.

Companies that have entered later, however, are taking risky positions because there’s no telling when one of the large players might want to cash out, potentially flooding the market and crashing it.

What if they don’t, uhm, cash out?

It’s also possible. Most companies will likely want to keep a percentage of their holdings in Bitcoin if their current gamble pays out, which would in turn give the Bitcoin market some stability.

But once again, the problem is how few players actually are controlling the Bitcoin economy. It might take just one company deciding to convert all its Bitcoin to fiat to send the price crashing. That company would, then, report a huge return. Any other holders who sell immediately might, too. But anyone else who takes too long to act, or anyone who buys tokens too late in the curve, will face huge losses.

So the result is…

Some companies will likely win big with this Bitcoin gamble. Others might lose big, and some might choose to invest in the crypto market in the long term, to the point where it won’t matter to them if the price goes crashing in the short term.

As with all recessions, it’s impossible for a market or company to completely assure they won’t be hit by the dip. What companies here are doing is trying their best not only to remain unscathed, but to also make some money along the way.

Will it work? It will, for some. It won’t for others. In general, companies that jumped in earlier have a head start. Since the stock market upheavals have yet to make companies exit global bourses, you can be sure BTC investing will likely endure as well.

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As Blue Chips Acquire Bitcoin, Here Is The Pathway To The Future

AS big companies move part of their equity into bitcoin, here is the path to the future!

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What the big-ticket financial companies buying into Bitcoin could mean in 2021

Bitcoin is having much of a renaissance.

While the cryptocurrencies like bitcoin were never properly considered dead, over the past few months we’ve seen their prices steadily increase, and as of the time of this writing, the value of Bitcoin has broken into a new high of $24,000.

For regular people, it’s easy to read this as a comeback: The strong, unstoppable bitcoin many economists predicted three years ago before the value suddenly crashed is finally coming true. Bitcoin is, then, poised to become the de-facto currency of the future, and everyone should rush to purchase all the tokens they can.

There is certain logic to this reading, and in all honesty if you saw the price data without getting any extra information you wouldn’t be wrong to expect so.

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But we do have extra information. Not long after Bitcoin’s value spiked, data was released pointing out a single company, in this case, PayPal had made purchases equaling all of the tokens that had been created over a month.

Financial data from other companies shows that financial giants like Square, Stone Ridge Holdings, and MicroStrategy have also invested millions of dollars in Bitcoin recently. But what does this mean? Does this mean they’re preparing for a cryptocurrency-fueled economy?

Hedging their bets – or why simpler answers are better

No, it doesn’t. While certainly having a large amount of Bitcoin would give these companies a boost if cryptocurrencies were to suddenly move our global economy, there’s no expectation that such a thing will happen in the short-to-mid term. Crypto adoption has grown steadily, and there’s a decent chance we’ll see cryptocurrency transactions as a regular thing… by 2030 or so. Not by 2022.

What these companies are doing instead is an old, common practice for financial giants: They’re buying gold. Only, it’s digital gold.

And they’re doing this because… well, because they don’t trust the economy.

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The recession hasn’t hit in full force… yet

Economists have been predicting a major economic recession for years, partly thanks to historical data that shows the economy works in cycles, and the longer a period of growth and stability lasts the more imminent a recession becomes. Warnings had been written since 2015, arguing that the correct thing to do would be to get ready for a recession.

And then the recession hit, during March 2020. Stock markets went down.  The Dow Jones wiped all of its earnings from the previous year in a single day. Chaos ensued, at least among certain circles.

But soon after, the markets recovered. Taking a look at them today, and it’s almost like nothing happened. Many stocks are at all-time highs. Indicators went back up. Was it the shortest recession in history? No, it wasn’t.

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A variable called Coronavirus

The Coronavirus pandemic played a part in the express recession we saw back in March. As it turns out, it’s also part of the reason the apparent recovery was so quick.

The truth is, we’re still in a recession – it’s just not noticeable because economic indicators have shifted due to the pandemic. The economy is currently working at half of its capacity, but we don’t notice it because most of us have been locked up, or nearly locked up, for too many months.

With a vaccine approved, however, the pandemic won’t last much longer – although it won’t be gone in just a couple months either. And once that happens, tens of millions of people will have to face the harsh realities of workplaces closing, unemployment soaring, and the largest number of evictions we’ve seen since the housing bubble burst.

All those things are actually happening as we speak, but we don’t see them, or feel them, because of lockdowns and protections that have been put in place… but will be lifted soon.

Bitcoin is the new gold

Companies have been buying Bitcoin largely because they know this. As it stands, the world is on the brink of a huge recession, and we’ll see it unfold sooner rather than later. While that doesn’t mean the economy will inevitably shatter.

From the above, governments still can do a lot to minimize the impact – having an impending recession doesn’t precisely fill people with hope and trust in fiat currencies.

So they turn to values as a way to hedge their bets. They buy precious metals. They stockpile goods. And, in 2020, they also buy Bitcoin – a largely speculative virtual currency that many have predicted will withstand a recession.

That’s why companies are investing. It’s not because the Bitcoin future is coming, but because they believe Bitcoin will hold its value better than the USD in case of a recession. And they may be right, or they may be wrong – but the risk is worth taking nonetheless.

Should I run and invest, then?

Hold on, you should first slow down a bit.

Investing right now might be a good move. Or it might be a bad one. Investing six months ago would’ve been a brilliant move, but then again hindsight is 20/20.

How the Bitcoin market develops from here on isn’t clear, because it depends largely on how those huge companies act in the future. As long as they keep holding, and investing into, Bitcoin tokens, the price should remain stable and even go higher.

But as soon as one of these companies decide to cash out? A huge influx of offer vs stagnant demand will spell a price crash. On top of that, this price crash happening is a matter of when rather than if – because it will happen.

However, we don’t know when. It could take two years. Or it might happen next week.

Shall you invest in Bitcoin right now, then, you should see it as playing the lottery. Variables entirely outside of your control will dictate whether you win or lose, and every day you’ll face the question of whether you want to jump off the ship now, or risk another day.

You may win big. But you may also lose big, if you are nit timing the market.

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