Cryptocurrency can be halal if the exchange takes place immediately and the transaction adheres to Islamic teachings, avoiding practices such as financial leverage, dealing in differences, and futures contracts. Ensuring the transaction is free of riba (interest) and other prohibitive elements is essential. Many Islamic scholars agree that trading or investing in cryptocurrency, as long as it does not involve illegal activities, aligns with Shariah principles of social justice, accountability, and ethics.

And Allah knows best.

Sources:

• IslamQA – Ruling on dealing in cryptocurrency
• Qardus – What is cryptocurrency and is it halal?