How is the calculation method for Zakat on cryptocurrency?
Method for Calculating Zakat on cryptocurrency
The formula: Units of cryptocurrency and digital assets x current price (at end of haul) x 2.5% = Total Zakat
Example: Mr. Ali owns 0.2 units of Bitcoin (BTC) which has met the haul requirement. The current price for 1 BTC is RM258,107.
The zakat amount Mr. Ali needs to pay for the year 2021 is:
0.2 units x RM258,107 x 2.5% = RM1,290.54
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