Assalaamu Aleikum and welcome to part 3 in our 4 part series called, Is Bitcoin Halal Series - A Deeper Look at the Permissibility of Bitcoin According to the Sharia. In part 3 of our series we'll talk about Bitcoin mining and today we ask the question, is Bitcoin mining halal or haram? Want to find out the answer? Well click on "Read More" and let's find out together.
So, you've done your research. You've looked over numerous sites and now you're ready to put down some money on cloud mining. One particular cloud mining service offers free Bitcoin daily; another offers an approximate 10% return of investment, daily! While yet another offers free hashing power if you refer more customers there way. You look around and the words "cloud mining" seem to be popular buzzwords in the crypto space. "Hmm?", you think to yourself. "I'm still not sure. But it seems pretty straight-forward. It seems like a pretty safe way to earn some Bitcoin. Hmmm? Well, what have I got to lose?" And so, you pull out that credit card ready to sign up and purchase a cloud mining contract. If you find this scenario to be you, then hold on one moment before you give them your hard earned money. Let's take a closer look at this thing called cloud mining and let's see why I believe that you should stay away from it.
"Should I cloud mine?" Ahhh yes, you hear about so many people cloud mining and receiving easy Bitcoin for doing so and so you wonder? "Hmmm, maybe I should jump in and give it try because I only see Bitcoin's price going up and up!" Well before you part with your hard-earned income giving it away to a cloud mining company with starry-eyed visions in your head of a waterfall of Bitcoin falling on you, you should check out my blog post first. Inshallah we'll cover the topic of cloud mining and once we're through, inshallah you will have a solid idea of whether or not you feel that cloud mining is for you. We'll also take a look at two popular cloud mining services discussing their pros and cons. Want to find out who they are? Please read on...
Your donations help support this site.
The Bitcoin Guidebook:
How to Obtain, Invest, and Spend the World’s First Decentralized Cryptocurrency
Ledger Nano S hardware offline Cold Storage Wallet Safe Vault for Bitcoin LTC Doge Dash Zcash Ethereum