Zakat due on Bitcoin and other crypto, checked against the gold nisab at live prices.
Zakat on cryptocurrency is worked out like zakat on savings. Once you have held a coin for a full lunar year (haul) and its value reaches the nisab, the value of 85 grams of gold, 2.5% of its value is due. This calculator fetches the live price of the coin and of gold in your currency, checks the nisab and returns the zakat due.
Units held × price per unit at the end of the haul × 2.5% = zakat due
Example: Ali has held 0.2 BTC for a full Hijri year. On the day the year completes, 1 BTC is worth RM258,107. His zakat is 0.2 × RM258,107 × 2.5% = RM1,290.54.
The Selangor State Fatwa Committee, meeting on 17 August 2021, ruled that using digital currency as a medium of payment, for remittance and as a stored asset is permissible (harus).
Crypto and digital assets count as property (mal) because they have value (al-mutaqawwim), so zakat is due on them under the general evidence for zakat on wealth. Crypto is not legal tender under Shariah or Malaysian law, but it is classed as an investment asset or security in a Federal Government gazette issued by the Ministry of Finance.
The duty to pay zakat is not limited to coins traded on digital asset exchanges registered with the Securities Commission Malaysia.
Source: Lembaga Zakat Selangor. Rulings and nisab figures differ between zakat authorities, so check with yours before you pay.
The nisab is the value of 85 grams of gold, the same threshold used for savings. The calculator multiplies the live gold price per gram by 85. If your zakat authority publishes its own nisab, change the grams or overwrite the gold price.
When you have held the crypto for a full lunar (Hijri) year and its value on that day is at or above the nisab. Value the coins at their price on the day the year completes.
Nisab applies to your total zakatable wealth, such as cash savings, gold and crypto together. If one coin is below the nisab but your combined wealth is above it, zakat is still due on it.
2.5% is the rate for a lunar year. A Gregorian year is about 11 days longer, so authorities that let you count by the Gregorian calendar use 2.577% to make up the difference.
Coin and gold prices are fetched live from CoinGecko in the currency you choose. You can overwrite either price, for example with the price on your haul date.