Is it mal?
For a thing to be traded, it needs to be mal: reasonably valued, usable, not pure gharar. One camp treats Bitcoin and similar networks as digital property, like a bearer asset, once they have a functioning market. Another camp treats them as unbacked gambling tokens. Altcoins with no use, meme coins, and “dog-themed” tokens sit in gharar even if you like Bitcoin.
The easy nos
Crypto savings accounts, CeFi lending, liquidity pools that pay a contractual yield, and most staking-as-a-service where you are owed a return, are riba or suspiciously close. Leveraged tokens and perpetual futures are gambling plus debt. NFTs of nothing in particular are speculation; an NFT that is actually a ticket or licence is a different facts pattern.
If you hold
Zakat: if you treat it as mal, include it at market value on your zakat date. Purification: project tokens that earn interest on treasury assets need the same mixed-income treatment as a share. Do not take a fatwa from a Discord moderator.