Question 1: Is your intent genuine saving, or betting on volatility?
Before opening any app or buying any coin, ask yourself honestly: am I acquiring this asset with intent to save, use, or later sell it for a legitimate profit - or am I betting on a price move within minutes or hours with no real connection to the asset itself? In many cases the ruling follows actual use, not the marketing label of the tool. Define your intent honestly first; it is the starting point for every question that follows.
Question 2: Is the transaction free of riba (interest)?
Check carefully: is there a guaranteed fixed return completely detached from the performance of a real asset or genuine risk-sharing? If so - a guaranteed return with no link to real performance - that is a clear riba warning sign requiring a pause and review. Profit tied to selling an actually-owned asset at an agreed price, or genuine profit-and-loss sharing in an economic activity, carries a different ruling that needs detailed scholarly input.
Question 3: Is gharar (excessive uncertainty) under control?
Ask: are the contract or product terms disclosed clearly from the first moment - price, quantity, commitment duration, liquidation mechanism if any? Or is there fundamental ambiguity in the price, the nature of the underlying asset, or the possibility of losing your entire principal under undisclosed terms? Excessive gharar (major, consequential uncertainty) is broadly agreed to be prohibited, unlike minor uncertainty tolerated by custom.
Question 4: Is there genuine ownership of the underlying asset?
In a valid Islamic sale, the seller must actually own the asset (possession and liability) before selling it to you. Ask: does the platform or counterparty actually hold this digital asset, or is what's being sold to you merely a promise or a derivative position (a contract for difference or leverage) with no real possession by any party? The absence of genuine ownership is a strong red flag requiring caution.
Question 5: Have you verified the source of any promised return?
Any promise of a fixed or disproportionately high return relative to real market risk deserves a direct question: where does this return actually come from? If the answer is vague or depends on inflows from new users rather than productive economic activity, that is both a religious red flag (suspected riba or gharar) and a security red flag (Ponzi scheme) at once. Always demand a clear, verifiable source for any return before committing.
Qist's position, by the numbers (documented facts only)
Qist is designed to answer all five of these questions affirmatively through the transparency of its open contract: intent to acquire a real asset, a riba-free sale, price terms disclosed from the first moment, genuine ownership of the asset (ETH or cbBTC) before it is sold via murabahah, and Qist's only return is a known 2% service fee - not a time-based charge. The global Islamic finance industry is estimated at roughly $4 trillion, serving about 1.9 billion Muslims worldwide, with a 3-day grace period before any liquidation action.
Discover Qist: qist.info
These are self-check questions for the user, not a definitive fatwa for every case; the detailed ruling for your specific situation requires a qualified religious scholar - educational content, not financial advice or a religious ruling (fatwa).