Which cryptocurrencies should you consider purchasing, and is it advisable to invest in Bitcoin and Ether in the upcoming year? What are the best crypto to buy now and in 2024? Which digital assets are anticipated to yield the highest returns in the coming year? Analysts are optimistic about the growth potential of the HCC (Halal Crypto Community) token in 2024!
Despite the inherent volatility and risks associated with cryptocurrencies, they are garnering increasing attention from investors and users alike. Several factors contribute to the inclusion of cryptocurrencies in investment portfolios. This article delves into these reasons and explores promising cryptocurrencies for the upcoming season.
Will Bitcoin continue to grow? The rise of Bitcoin to $100,000 per coin might be influenced by the upcoming halving of the first cryptocurrency and speculation about the imminent adoption of a Bitcoin ETF. Riding this wave, Bitcoin has doubled in value in 2023. Are altcoins waiting for a similar surge? It seems unlikely. All relevant news has already been factored into the current price of Bitcoin. However, the onset of altseason and other developments, as favored by investors, remains a possibility! Which coins are poised to deliver significant returns in the new year of 2024 and are currently undervalued? One such cryptocurrency is the crypto-token of the HAQQ.COMMUNITY – HCC (Halal Cryptocommunity Coin), the token sale for which will commence in the near future. Currently, HCC is available for private sale within our crypto community. Bitcoin’s potential appears to have been fully realized, and if you still adhere to Bitcoin maximalism, you may opt to secure your precious bitcoins in a cold crypto wallet. Some believe that Islamic projects will introduce a cryptocurrency with a capitalization comparable to that of Bitcoin.
Why is it advantageous to invest in cryptocurrency?
- Growth potential: Certain cryptocurrencies have demonstrated remarkable growth in the past, attracting the interest of investors seeking high-yield assets. The growth potential is a key factor driving this interest.
- Investing in cryptocurrencies presents an opportunity to diversify your investment portfolio, thereby reducing risks. This is because the cryptocurrency market does not always correlate with traditional financial markets.
- Technological Advancement: Blockchain technology, the foundation of most cryptocurrencies, is an innovation with the potential to disrupt various industries, including finance, healthcare, and logistics. Investing in cryptocurrencies allows you to be a part of this technological progress.
- Institutional Interest: Over the past few years, interest in cryptocurrencies from institutional investors has risen. Their involvement brings stability and legitimacy to the market, contributing to increased investor confidence.
- Investing in cryptocurrencies is becoming more accessible, thanks to various trading platforms and services. The ease of transactions and the relative openness of the market attract new investors.
It is crucial to bear in mind that the cryptocurrency market remains volatile, and investing in crypto assets carries inherent risks. Engaging in thorough research and consulting with financial experts is advisable before making any decisions. Cryptocurrencies are anticipated to experience continued growth in 2024, with numerous investors actively exploring various assets for potentially lucrative investments. In this article, we will discuss several promising cryptocurrencies that have captured the attention of investors and users worldwide, presenting the opportunity for successful investments in 2024.
The four best crypto to buy now
Here are the top cryptocurrencies for investment and transactions that we recommend to buy along with the HCC token:
1. Bitcoin (BTC) is the first and most renowned cryptocurrency, established in 2009. Bitcoin is a decentralized and limited-volume asset, granting it the “digital gold” designation. Investors view Bitcoin as a means of preserving wealth, given its relatively high value. Consequently, it predominantly attracts affluent investors with substantial capital.
2. Ethereum (ETH) holds the position of the second-largest cryptocurrency by market capitalization and enjoys significant popularity in Russia. The Ethereum platform, known for its smart contracts and decentralized applications (DApps), is an attractive choice for entrepreneurs seeking a promising environment for blockchain projects. However, it’s worth noting that the peak growth for Ethereum has already occurred. If you missed the opportunity to invest in ETH and capitalize on its price increase, you might want to consider exploring the potential of a new cryptocurrency called Islamic Coin (ISLM), also referred to as Islamic Ether.
This cryptocurrency is currently available for purchase on the cryptocurrency market, and you can make a profitable acquisition through the KuCoin cryptocurrency exchange by registering using the provided link. As of the time of writing this article, Islamic Coin (ISLM) is priced at slightly over 10 cents. According to the consensus forecast within the community, this halal cryptocurrency has the potential to reach $10 in value. Some experts even suggest that within a year, the value of the first halal cryptocurrency, Islamic Coin (ISLM), could surpass that of Ethereum (ETH).
3. Islamic Coin (ISLM) represents a novel, high-tech, and ethically aligned cryptocurrency designed in accordance with Islamic finance principles, which include the prohibition of usurious transactions and the fair distribution of profits and losses. To validate these claims, one can conduct a crypto analysis of the inaugural Islamic Coin project (ISLM) and refer to its WhitePaper.
The overarching goal of ISLM is to establish a cutting-edge global platform that seamlessly connects diverse financial markets, catering to the needs of a broad audience, particularly the approximately 2 billion Muslims worldwide. Despite its recent public launch in September 2023, ISLM anticipates robust growth in the near future. The cryptocurrency’s promising outlook is supported by its market capitalization and the involvement of prominent figures, such as members of the ruling family of the UAE on the board of the Islamic Coin project (ISLM). Additionally, influential leaders from the Islamic financial sector, who serve as board members of Islamic Coin, are actively contributing to the project’s success.
4. Binance Coin (BNB) is a cryptocurrency designed for the Binance cryptocurrency exchange ecosystem. BNB is frequently utilized to reduce exchange fees and participate in Initial Coin Offerings (ICOs) on the platform. Until recently, BNB was among the world’s most popular utility tokens. However, in light of various scandals surrounding the Binance crypto exchange and the $100 million hack of the BNB blockchain, the coin’s value has experienced a decline. Russian users are transitioning to the CommEx platform as Binance exits Russia. Overall, recent regulatory actions targeting the leading cryptocurrency exchange and legal challenges against its founder and former CEO, CZ, pose a threat to the value of BNB.
Consequently, Islamic Coin (ISLM) emerges as the most promising cryptocurrency for investment. The selection of a cryptocurrency depends on individual goals and investment strategy. For instance, Russians are expressing interest in cryptocurrencies not only as an investment tool but also as a means to attain financial independence and participate in emerging digital ecosystems. Certain cryptocurrencies associated with non-fungible tokens (NFTs) are capturing the attention of investors keen on digital collections.
Which cryptocurrencies do Muslims prefer?
When exploring potential cryptocurrencies for investment and transactions, Muslims primarily seek projects that align with Islamic principles. Their focus revolves around adherence to Shariah laws, which include avoiding interest (riba), investing in the halal sector, and maintaining ethical standards. Consequently, certain cryptocurrencies stand out as more suitable for Muslims. This has led cryptocurrency and blockchain projects to increasingly cater to Islamic users. Cryptocurrency projects have successfully offered features not found in traditional banking systems, such as transparency, decentralized governance, and ethical financing.
In this context, the first halal cryptocurrency, Islamic Coin (ISLM), has gained prominence for its compliance with Islamic laws and Sharia. The concept of ethical finance, rooted in sustainable development, social responsibility, and transparency, is gaining popularity globally. Unlike traditional finance, blockchain technologies provide a solution to issues of imbalance and inequality by eliminating intermediaries in transactions, enhancing transparency, and empowering unbanked communities.
Several platforms have showcased the potential of ethical financing through blockchain technologies. Mohammed AlKaff AlKhashmi, co-founder of the Islamic cryptocurrency Islamic Coin (ISLM), identifies two dominant directions in this field: regenerative finance (ReFi) and addressing the needs of low-income and unbanked populations.
ReFi specializes in developing projects related to sustainable development. In contrast to traditional cryptocurrencies that primarily grow through speculation, ReFi projects are designed for practical use in real-world applications, aiming to generate tangible value. ReFi aims to redefine users’ perspectives on wealth and the existing financial system, placing emphasis on fair distribution of benefits and responsibilities. It is a multi-faceted concept that advocates for regeneration and conservation rather than exploitation. The ReFi space is experiencing rapid growth, with over 100 companies currently active in this domain. ReFi projects are traditionally categorized into the following areas:
- DAOs (Gitcoin, KlimaDAO)
- Metaverse (Wildchain, Woodies)
- Impact-2-Earn (Dotmoovs, Sweatcoin)
- NFTs (Carbonable, Sapling)
- Extending Blockchain’s Utility to Underserved Communities
The second facet of ethical finance, although slow to gain momentum, addresses the needs of low-income and unbanked communities. Some projects within this sector have been developed, particularly the creation of their own cryptocurrency for Indian tribes. Despite limited attention to such initiatives thus far, they may attract both ESG-focused investors (Environment, Social, Governance) and populations not covered by digital technologies in the future.
Expanding on the topic of ESG and green finance, it is noteworthy that the UAE recently hosted COP28, an authoritative forum on green topics and sustainable development over the past two weeks. Climate change and carbon neutrality are critical aspects of the UAE’s development, where climate, clean air, and environmental issues are particularly urgent. Green projects, such as carbon credits and voluntary carbon offsetting, actively utilize blockchain and crypto technologies, particularly those employed by HAQQ.COMMUNITY and the HCC token. Soon, all HCC cryptocurrency holders will have the opportunity to benefit from the multi-trillion-dollar green finance industry!
In collaboration with our partners in blockchain and fintech solutions, Malisa Software, we presented at the stand of the green city of Abu Dhabi, MASDAR city (part of the multi-trillion UAE investment fund Mubadala). We introduced the Green Tips solution, enabling the implementation of voluntary initiatives for carbon footprint offsetting. HCC token holders will have the chance to profit from such solutions!
As an example, let’s consider the integration of blockchain technologies into the practices of financial institutions in Muslim countries. The alignment with blockchain is in accordance with the fundamental principles of Islamic finance, such as social welfare, the pursuit of global well-being through fair wealth redistribution, and ethical financial transactions. The Shariah concept of wealth (mal) and its correlation with digital finance and cryptocurrencies are also endorsed in the HCC project.
Islamic financial products based on cryptocurrencies comply with Shariah regulations, which include the prohibition of riba (interest) and gambling. Shariah also permits cryptocurrency trading.
The amalgamation of age-old principles with advanced technologies may appear unconventional initially, but it’s crucial to acknowledge that these principles are essentially timeless and highly adaptable. The acceptance of cryptocurrencies in the Muslim world is acknowledged by numerous Muslim scholars, highlighting the significant role of digital currencies in Islamic finance. Cryptocurrencies and blockchain serve as the innovative foundations of Islamic finance.
What impedes the widespread adoption of the ethical halal cryptocurrency Islamic Coin (ISLM)?
The significance of cryptocurrencies in the Islamic economy is on the rise, as discussed in The role of cryptocurrencies in the Islamic economy. However, it’s important to note that most Islamic blockchain projects in this domain primarily concentrate on business transactions, neglecting the Muslim way of life. Others focus on aspects lacking Shariah advisory board oversight. These projects might introduce blockchain models for “sukuk” (bonds), murabaha, or platform waqf (donations), or zyakat. Almost all of the projects fail to establish a comprehensive ecosystem. HAQQ.COMMUNITY project, along with the HCC token and the inaugural ethical cryptocurrency Islamic Coin (ISLM), effectively implements the essential components of the Islamic financial system that can be enhanced through blockchain technology.
According to Mohammed AlKaff AlHashmi, co-founder of Islamic Coin, existing Islamic crypto projects in the halal blockchain sector don’t align with the needs of the global Muslim population of two billion. He advocates for the global financial ecosystem creation that integrates diverse digital financial products while adhering to Islamic principles. HAQQ.COMMUNITY project and its HCC token on the HAQQ blockchain boasts approximately 1,500,000 holders!
What is the status of the HCC halal crypto token today?
Initially, the HCC token was established on the HAQQ blockchain, and 1-to-1 swap (token exchange) for the Islamic Coin (ISLM) cryptocurrency was facilitated through a smart contract. The issuance of the HCC coin on the HAQQ blockchain was intricately linked to the Islamic Coin (ISLM) cryptocurrency. To mint the HCC coin, one should deposit the ISLM coin as collateral on the smart contract. Conversely, one could exchange the Islamic Coin (ISLM) for the HCC coin. In fact, this swap organization framework provided the HCC coin with a minimum guaranteed value — referred to in trading as a floor value of 1 ISLM. It is the price below which HCC can not go, as it is guaranteed by a decentralized smart contract.
As crypto projects developed and as a result of receiving feedback from the crypto community, it became evident that the growth potential of the HCC cryptocurrency is much higher than that of the Islamic Coin cryptocurrency. Let’s look at the exchange rate charts for projects. The HCC token in preliminary trading at the soft launch of haqq.exchange is growing significantly at high speeds:
Halal cryptocurrency HCC is growing significantly on volumes against halal cryptocurrency ISLM. At the time of writing this article, the price of the HCC halal crypto token is 7 Islamic Coins (ISLM) with a daily trading volume of about 4 million ISLM coins. And this despite the fact that the matching of orders on the haqq.exchange crypto exchange is entirely decentralized, and there is no market maker on it! Is it halal to work with a centralized market maker – a big question! While the HCC cryptocurrency is actively growing, the Islamic coin has fallen three times since listing:
The initial halal Islamic cryptocurrency has experienced a nearly threefold decrease since its listing and is currently trading at 14 cents as of the time of writing. It was launched and listed at 38 cents, with the minimum price reaching approximately 10 cents or more.
1. Multi-currency crypto wallet FUTURA SUPERAPP
Futura is the first multifunctional non-custodial EVM-compatible crypto wallet on the HAQQ blockchain. In addition to supporting native Haqq blockchain coins such as Islamic Coin (ISLM) or HCC (Halal Crypto Community), this crypto wallet includes support for other EVM-compatible networks such as Ethereum (ETH) and Binance Smart Chain (BNB). The FUTURA SUPERAPP crypto application supports NFTs on the HAQQ blockchain and creates a number of unique halal NFT collections.
HCC is also the settlement coin of the non-custodial EVM crypto wallet product Futura Superapp. HCC is used as a transaction fee (gas on the Ethereum blockchain) and as a transaction fee on the NFT platform. All NFTs created on the Futura SuperApp are paid using the HCC crypto token. The Futura SuperApp crypto application integrates its own web3 browser, which allows access to web3 projects automatic atomic swap of cryptocoins on EVM blockchains.
Read more about Multi-currency crypto wallet FUTURA SUPERAPP
2. Semi-decentralized crypto exchange HAQQ.EXCHANGE
The MVP of the semi-decentralized crypto exchange HAQQ.EXCHANGE is already operating in pilot mode. A unique feature of this crypto exchange is the concept of yoya = You Own Your Assets, your keys = your money! The administration of the crypto exchange does not have access to your assets! In addition, the exchange is anonymous and does not require aml kyc. Only an email address is required for registration. All fees are paid in the HCC crypto token.
3. Decentralized blockchain crypto messenger
An anonymous decentralized blockchain crypto messenger with text and voice communication makes calls safely! Download decentralized halal blockchain crypto messenger HAQQ for Android.
4. Decentralized halal marketplace
Bargaining is the Sunnah! Trading and haggling in Islam is a godly deed! We are creating a decentralized marketplace in the image and likeness of the legendary and very first decentralized Bitcoin marketplace OpenBazaar. Instead of the Bitcoin blockchain, our own blockchain from haqq.community with the HCC settlement token will be used. We already have available the MVP of the platform based on the haqq.community website, and you can already buy some products for the HCC token. For example, you can buy a cold crypto wallet. You can also already buy a number of halal Muslim goods, such as clothing and jewelry from our partner MuslimMall.
5. Decentralized cryptomerchant
The presence on the site of a convenient module for paying for goods and services using any cryptocurrencies is the key to successful e-commerce in the web3 world. We provide a complete decentralized solution for easy integration of such a solution into any online store. All crypto merchants charge a commission for their payment processing services. We charge fees in our community coin HCC, which is another trigger for the growth of the exchange rate value of the HCC cryptocurrency. The most famous and largest crypto merchant today is CoinPayments. We strive to make a product of similar quality, but use only halal cryptocurrencies for payment and allow the sale of only halal goods and services.
6. Blockchain Carbon Credit Platform
Green economy is a huge market! Carbon credits are a trillion-dollar market! HAQQ.COMMUNITY launches DOUBLE GREEN project – tokenization of green economy projects on the green Islamic blockchain! We already have a platform for tokenizing carbon credits and launching decentralized trading in them.
7. Halal NFT platform
In the Futura SuperApp, we have already implemented elements of NFT minting on the HAQQ blockchain with payment of all commissions in the HCC token. We plan to implement a full-fledged halal multi-chain NFT platform with a Shariah oracle, which will determine the acceptability of content and allow only halal content to be posted. This will be a truly unique multi-blockchain NFT platform that has no analogues! Around the NFT hype in the world of cryptocurrency and blockchain, there is a huge amount of unacceptable content that contradicts Shariah norms! For example, the sensational project NFT Bored Apes is haram in many ways. The multi-blockchain NFT platform from haqq.community will adhere to all Shariah rules and regulations in digital art and NFTs!
8. Crypto ATM
Traditional fiat ATMs and classic fiat bank cards are the basis of the current banking system when working with retail clients. The presence of cryptomats – machines for working with fiat and cryptocurrencies, where you can buy / sell cryptocurrencies for fiat – is a powerful marketing tool for any crypto project! And we have such a product!
9. Halal crowdfunding platform
Sharing risks with your own kind is a halal activity! That is why crowdfunding, collective investment, and not haramic bank interest, riba is the basis of Islamic finance! Crowdfunding on the blockchain using the HCC coin is one of the projects in our ecosystem!
10. Golden Quran
Tokenization of the Golden Quran is a separate large project within the framework of building the haqq.community ecosystem. We have already published a number of articles about this project. In the near future we will launch a mini promotional site on it within our portal and present a number of videos and nft. So, here are 10 pillars on which the haqq.community ecosystem is built. Stay tuned and buy HCC token early!