InvestmentPersonal Finance

Sharia-Certified Halal Cryptocurrencies

Sharia-Certified Halal Cryptocurrencies

As part of our work on halal investment at IFG we are covering cryptocurrency and blockchain technology in a lot of detail. You can read the full series on this topic here.

In this article, we introduce some of the shariah certified cryptocurrencies. That is not to say other cryptocurrencies are haram. Just these cryptocurrencies have gone out of their way to be sharia-certified and target Muslim investors.

If you are ever stuck on whether a new cryptocurrency is halal or haram – just ask on our Fatwa forum.

Lumen (XLM)

Lumen works on the stellar network. Stellar is a decentralised mechanism that allows for digital money to be transferred to fiat money. It aims to make borderless transactions possible regardless of a particular currency.

Lumens are only needed in small amounts to initialise accounts and make transactions. Through Stellar, you create a digital token that has a 1:1 relationship with a traditional currency, be it USD or Peso. As tokens are backed by an equivalent deposit, exchanging tokens with someone allows them access to that traditional form of currency.

Like Bitcoin, the software is decentralised and runs on a blockchain network. It is faster, cheaper and more energy-efficient than most of its competitors.

Stellar was one of the first blockchain networks to receive a shariah-compliant certification. The Shariya Review Bureau issues the certification.

They have multiple sharia scholars working in 15 different countries. Notable names include Mufti Faraz Adam and Mufti Ismail Ebrahim Desai in the UK and South Africa respectively.

OneGramCoin (OGC)

OGC is a digital asset backed by gold. Each OGC coin is backed by at least one gram of physical gold which also allows the coin some price stability.

OGC utilises a Proof of Stake protocol which is significantly more energy-friendly than BTC.

Furthermore, OGC donate 2.5% of the 1% transaction fee received to the OneGram foundation. OGC has won awards such as Best Islamic Cryptocurrency (2017) and Best Islamic Fintech Product (2018). It is regulated and certified by Al Maali Consulting Group.


Like Lumen, the Shariyah Review Bureau certifies X8. Using a basket of fiat currencies and gold, X8 ensures a strong a stable digital currency.

X8 uses automatic reserve management (ARM) artificial intelligence to trades the currencies and gold in its basket as a shield against inflation.


Cryptocurrencies can be halal however not all are – even the ones that seemingly seem acceptable.

It is also important to understand your investment priorities more holistically first before you dive into making a big investment into any one asset. Check out our free halal investment checklist that takes you through the basics. Also check out our halal investment comparison to see all the halal investments available to you in one place.






Keep Reading

6 Comments. Leave new

  • ‪soufiane sisi ben ben ben
    September 30, 2020 6:08 pm

    asalamo alikom I want to know. Sharia-Certified Halal Cryptocurrencies How can I I’m trading this halal currency. Is there a website of its own to spin Is it accepted to be traded in all Islamic banks approved by The Iofi Authority? Especially i’m from Algeria. Thank you, can you answer me very much Arabic

  • Jazak Allah Khair for your new articles about cryptocurrencies. Could you please also elaborate the criteria for a cryptocurrency or a crypto project to be considered halal? Also, if staking would be considered halal or not?


  • Sarah El Fangary
    January 6, 2021 8:22 pm

    Salam Aleykoum,
    I would really appreciate your advice on Bitcoin in terms of holding it as an eventual currency, and investing in ethereum blockchain as an investment? I have read that it is mostly* halal and many would say more than the fiat system in use now. However I would like to know if we make gains can we take out? What is proper islamic etiquette with investing? It is hard to find this info.
    JazakhAllah kheir

  • Thanks

  • Hello I just wanted to check if orfano coin is halal? Please reply to me ASAP 🙂
    It’s a new coin

  • Hi. I really want to know if Pig token is shariah compliant as my family members are buying it . Please please help to anwer me…


Leave a Reply

Your email address will not be published. Required fields are marked *

Fill out this field
Fill out this field
Please enter a valid email address.
You need to agree with the terms to proceed

This site uses Akismet to reduce spam. Learn how your comment data is processed.

What is Bitcoin? | IslamicFinanceGuru
Scholars Who Say Cryptocurrency is Haram and Those who say its Halal
Access the Top Haram Stock Funds – The Halal Way. See the IFG Fund Replicator.
Free (very detailed) Halal Investing 101 Guides
Every British Muslim needs a will. IFG Wills is an affordable quality option entirely online.
Get exclusive tips, resources and courses delivered straight to your inbox from IFG.
  • This field is for validation purposes and should be left unchanged.