is staking with APY and re invest or auto invest in houbi earn is halal?
Thanvir Changed status to publish January 28, 2024
I dont know about Houbi Earn spicifically, but I can give you a general opinion on staking having assessed almost 200 different coins being staked. Some 95% of them were considered permissable and in line with sharia screening. The 5% odd that didnt make the cut were things like AAVE, AMP, ANKR, IDEX, LINA etc. Cryptocurrencies that were clearly involved in some form of lending or riba where there was a direct connection to staking rewards.
Hope this helps, but as a general rule staking is not haram. You need to review the underlying asset and if the reward generation/ creation involves some form of interest/ riba.
Ayah Answered question June 23, 2022
