Question

Is Bitcoin Halal or Haram, as it is completely computerized money. It has no physical existence and is not issued or controlled by any bank or government.

Answer 1

Ref. No. 40/1177

In the name of Allah the most Gracious the most Merciful

The answer to your question is as follows:

When the bitcoin is not controlled or issued by the government, it would be regarded as a ‘fake currency’.  One should avoid buying or selling such a fake currency. One day it may cause a big loss to your wealth.

And Allah knows best

Darul Ifta

Darul Uloom Waqf Deoband