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Is staking considered interest, making it Haram in Islamic culture?

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by COINS NEWS 261 Views

The title states my question neatly. With mass adoption of cryptocurrency nearing in the future, support from Islamic countries will be critically important, and I'm curious to learn how staking will be treated in regard to Islamic belief. Islam bans any type of interest gain, such as credit card interest and the interest gained from a savings account, and many muslims take this very seriously, especially the older generations of course. I myself am still studying cryptocurrency currently and understanding staking, so I am very interested to learn from the takes that you guys have on this situation. Thanks.

submitted by /u/TheMuffinistMan
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