1. Install and Secure Your Wallet
After creating your wallet, the first step is to install it on your browser (e.g., MetaMask) or mobile app. Safely store your seed phrase-it's the key to your assets. Never share it with anyone.
2. Receive Your First Islamic USDC
To start using Qist, deposit USDC into your wallet. USDC is a stablecoin free from riba (interest) and compliant with Shariah. You can buy it on an exchange or receive it from a friend.
3. Browse Islamic Financing Opportunities
On Qist, you can be a seller or a buyer. As a seller, you own an asset (e.g., NFT or token) and offer it for Islamic financing. As a buyer, you request financing to purchase an asset via murabaha (cost-plus financing) without interest.
4. Understand the Surplus Refund Mechanism
When selling at a price higher than market value, the surplus is refunded to the buyer after repayment. This ensures fairness and upholds the principle of 'deferred payment without usury'. All transactions are recorded on Base.
5. How Qist Implements This
Qist offers audited smart contracts that adhere to Islamic finance principles. With simple steps through your wallet, you can buy or finance an asset with a 3-day grace period and transparent 2% fees. Start with a small financing to learn.
Discover Qist: qist.info
Informational content only, not financial advice.