BIOKRIPT - Aims to provide a secure and ethical environment for Muslims.
INTRODUCTION TO BIOKRIPT CRYPTO EXCHANGE PLATFORM
The world has witnessed a significant rise in the popularity of digital currency in recent times. However, many devout Muslims have been hesitant to take part in this emerging market as a result of concerns about its with Islamic laws, specifically those related to financial ethics and transactions.
To correct these fears, a Sharia-compliant crypto exchange platform has been created - BIOKRIPT. This aims to provide a secure and ethical environment for Muslims and other individuals who wish to respect the Moslem financial principles while engaging in crypto trading and investment.
Characteristics of Biokript include:
It operates under the guidance of a Sharia board consisting of Islamic scholars and finance experts who ensure that all its aspects respect Moslem financial laws. They review and approve tokens listed on the platform, ensuring they are halal (permissible) and free from prohibited elements such as interest (riba), uncertainty (gharar), and gambling (maysir).
Biokript emphasizes transparency in all its operations. Users will have access to clear and detailed information about the listed coins, transaction processes, and associated fees. It ensures that no interest is involved in any of its processes, including margin trading or lending.
It avoids transactions that involve excessive uncertainty or ambiguity. Users can have peace of mind, knowing that their assets concur with Islamic rules. It provides an integrated zakat calculator to help users calculate and fulfill their obligatory almsgiving based on their crypto holdings.
Biokript employs robust security directives to protect users' assets and personal information. It fosters a community that encourages knowledge sharing and educational resources about Islamic finance, cryptocurrencies, and responsible investing.
BENEFICIAL OF BIOKRIPT
Biokript project aligns with the ethical and moral values of Moslems. Here are some of its beneficial features:
Biokript would avoid interest-based transactions, this enables its users can trade without violating this principle. It discourages excessive uncertainty or speculation and may restrict certain high-risk and speculative activities to protect investors from potential harm.
It will provide clear information about fees, transactions, and asset holdings, allowing users to make informed decisions and focus on asset-backed trading, where cryptocurrencies are tied to tangible assets or businesses. This approach is preferred in Islamic finance as it reduces speculation and ensures there is intrinsic value supporting the transactions.
Biokript could provide tools or information to help users calculate their Zakat obligations on their crypto holdings. It will perform ethical screenings of projects listed on their platform. This involves assessing whether the projects' activities align with Islamic principles, such as avoiding businesses related to alcohol, gambling, or other haram (forbidden) activities.
It will prioritize community engagement and education and provide resources, articles, or webinars to help users understand the ethical aspects of crypto trading. The exchange would avoid listing projects that are explicitly considered haram, such as those involved in gambling, alcohol, or usury-based projects.
Biokript may undergo regular audits by Sharia scholars or experts to confirm compliance with the relevant laws. The exchange could implement robust security measures to protect user information and transaction data.
SUMMARISATION
By offering a Sharia-compliant crypto exchange platform, it is hoped that devout Muslims and other ethically conscious individuals will feel confident and comfortable to take part in the crypto transactions while recognising their religious beliefs. The goal is to curb the shortcomings between the rapidly evolving world of digital assets and the values of Islamic finance.
Useful links:
https://bit.ly/44a5lcF
http://www.twitter.com/biokript
http://www.facebook.com/biokript
http://www.instagram.com/biokript
https://t.me/biokript
https://www.reddit.com/user/_Biokript
https://bitcointalk.org/index.php?topic=5419088
Author Details:
Bitcointalk Username: Balaego
Bitcointalk URL : https://bitcointalk.org/index.php?action=profile;u=3403878
BSC Address : 0x6A653a43b9CC84aC101a6E07cd61032D58999adB