If there are many types of cryptocurrencies, how should it be handled?

If there are many types of cryptocurrencies, how should it be handled?

If many type of cryptocurrencies, it should be calculate as below: 

Formula : [ Units of cryptocurrency and digital assets x current price (at end of haul) ]

1. Calculate for each cryptocurrency owned. Sum up the total
2. Total value of all cryptocurrencies owned x 2.5% = Total Zakat

Example: Mr. Ahmad owns 0.3 units of BTC and 0.5 units of ETH that have completed their haul period. The current price for 1 BTC is RM344,116.91, and 1 ETH is RM19,058.33.

The zakat amount Mr. Ahmad needs to pay for the year 2024 is as follows:

BTC 0.3 unit x RM344,116.91 = RM103,235.075
ETH 0.5 unit x RM19,058.33 = RM9529.165

Total Amount = RM112,764.24

Zakat that Mr Ahmad need to pay : RM112,764.24 x 2.5% = RM2,819.11
    • Related Articles

    • What are the types of Zakat?

      In general, zakat is divided into two categories: 1. Zakat Fitrah (Physical Zakat) – Given during the month of Ramadan. 2. Zakat on Wealth (Zakat Mal) – Involves the following types of wealth: i. Salaries ii. Income iii. Business iv. Savings v. EPF ...
    • What are the types of payment options available?

      There are 3 types of payment options available for services offered on www.myeg.com.my : 1. Credit Card - AMEX, Visa, or Mastercard 2. Online Banking - Malaysian-based bank as per listed on FPX payment getaway 3. Prepaid Account - registered account ...
    • What types of zakat can be calculated and paid through MyEG?

      The list and types of zakat that can be calculated and paid through MyEG according to the respective State Islamic Religious Councils are as shown in the table below: PPZ - MAIWP 1. Zakat on Income 2. Zakat on Business 3. Zakat on Gold 4. Zakat on ...
    • How many company searches can I do in one transaction?

      You can only do one company search per transaction. If you have multiple companies to search, please repeat the process.
    • How many company searches can I do in one transaction?

      Based on the name/UEN search, the result will list out the companies that match the keyword.