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VISTORBELITUNG.COM, Tanjung Pandan, Bangka Belitung - The popularity of cryptocurrencies has continued to skyrocket in recent years, attracting investors from various circles. However, along with the potential for tempting profits, there has also been a debate about the essence of this digital asset trading activity. Not infrequently, the question "is crypto considered gambling?" becomes a hot topic in society. The extreme volatility of crypto prices is one of the main reasons why some people consider it similar to gambling.
How could it not be, in a matter of hours or even minutes, the value of a crypto asset can soar or fall sharply, creating opportunities for huge profits as well as significant risks of loss. This uncertainty is then associated with the speculative nature of the world of gambling. The Fundamental Difference Between Crypto and Gambling Despite the inherent risk and uncertain reward potential, it’s important to note the fundamental differences between crypto investing and gambling: Traded Assets In crypto, investors trade digital assets that are based on blockchain technology and have potential real-world value and utility (e.g., as a means of transaction, part of a DeFi ecosystem, or a representation of a physical asset). Gambling, on the other hand, involves betting money or valuables on the outcome of a game or random event that often has no intrinsic value.
Regulation and Legality In Indonesia, the Commodity Futures Trading Supervisory Agency (Bappebti) recognizes crypto as a commodity that can be traded on a futures exchange. This shows that there is official regulation and supervision of crypto asset trading. Gambling, on the other hand, is an illegal activity in Indonesia. The main goal in crypto investment is long-term asset growth based on belief in the potential of technology and future adoption. Meanwhile, the main goal of gambling is to gain quick financial gain through pure speculation.
Legal and Religious Views From an Indonesian legal perspective, as emphasized by Bappebti, crypto is not categorized as gambling but as a commodity. However, from an Islamic perspective, there are differences of opinion. The Indonesian Ulema Council (MUI) prohibits the use of crypto as a currency because it contains elements of gharar (uncertainty) and dharar (loss). However, the MUI acknowledges that crypto can be traded as a commodity/digital asset if it meets sharia requirements, such as having a clear underlying asset and real benefits.
Although the volatility of crypto prices gives rise to the perception that this activity is similar to gambling, there are fundamental differences in terms of the assets traded, the analysis and strategies involved, regulations, and investment objectives. In Indonesia, crypto is recognized as a legally traded commodity. However, it is important for every individual to understand the risks involved and do thorough research before investing in crypto assets. Considering crypto purely as gambling is an oversimplification and ignores the potential of the technology and the underlying analysis.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Trading crypto assets carries a high level of risk and you may lose some or all of your investment. Always do your own research before investing.