HCS Score
82/100
These are absolute prohibitions in Islamic finance. If any red line is triggered, the asset is automatically classified as HARAM.
Riba Exposure
Not an interest-based lending or borrowing protocol
Gambling / Betting
No gambling or betting mechanism
Haram Industry
Not involved in haram industry
The asset is scored across 7 Shariah principles.
Based on Red Line Screening and HCS Scoring.
Halal
This cryptocurrency is evaluated as Halal for investment and use because it shows strong alignment with CoinStudy HCS principles.
Explanation
This asset demonstrates strong Sharia compliance with real utility and transparent financial structure.
Reviewed by
CoinStudy Shariah Board
Beldex is a privacy-focused blockchain ecosystem designed to provide confidential transactions, private communications, decentralized browsing, privacy-preserving applications, and secure digital infrastructure. The BDX token is used for transactions, network security, validator participation, governance-related functions, and ecosystem utility.
From an Islamic finance perspective, many investors ask:
Is Beldex halal or haram in Islam?
The answer depends on the project’s underlying purpose, economic model, revenue mechanisms, and whether its core activities comply with Islamic finance principles.
In this article, we evaluate Beldex using the CoinStudy Halal Crypto Standard (HCS) methodology.
Focused on privacy infrastructure and blockchain technology
Provides secure communications and decentralized digital services
Not built around lending or borrowing activities
No dependence on interest-bearing financial products
No derivatives trading or synthetic financial engineering
Utility driven through transactions, network security, and ecosystem services
Under the CoinStudy methodology, Beldex passes the Sharia screening because its primary purpose is privacy-focused blockchain infrastructure rather than prohibited financial activity.
Beldex is a blockchain ecosystem focused on digital privacy and secure communication.
The project aims to provide:
confidential transactions
decentralized messaging
anonymous browsing
privacy-preserving applications
secure digital infrastructure
Unlike many DeFi projects, Beldex does not primarily focus on lending, borrowing, yield generation, or financial engineering.
Instead, the ecosystem is designed to help users protect personal data and maintain greater control over their digital activities.
Beldex uses privacy-enhancing technologies to secure user activity across its ecosystem.
The network supports:
private blockchain transactions
decentralized communication tools
privacy-oriented browsing services
decentralized infrastructure applications
secure digital identity protection
The BDX token is used for:
transaction fees
validator participation
network security
governance-related functions
ecosystem utility
Its primary role is supporting network operations rather than generating passive financial returns.
Several Islamic finance principles are relevant when evaluating Beldex.
Riba refers to income generated through interest-bearing financial arrangements.
One of the strongest aspects of Beldex from a Sharia perspective is that its economic model is not built around:
lending markets
borrowing services
interest-bearing accounts
fixed-return products
credit-market activity
The protocol does not generate value through debt creation or financing arrangements.
Instead, value is derived from providing privacy-focused technology and infrastructure services.
As a result, Beldex passes the riba screening under the CoinStudy methodology.
Gharar refers to excessive uncertainty and ambiguity.
Beldex operates through publicly accessible blockchain infrastructure with a clearly defined purpose focused on privacy technology and secure communications.
While cryptocurrency markets naturally involve some uncertainty, the project itself provides identifiable technological services rather than relying on vague or undefined economic activity.
Therefore, no major gharar concerns exist at the protocol level.
Maysir refers to gambling-like activity and excessive speculation.
Beldex is not designed around:
betting systems
gambling platforms
prediction markets
leveraged speculation
derivatives trading
However, like most cryptocurrency assets, BDX can experience speculative trading and market volatility.
These market behaviors create some caution but do not fundamentally define the project itself.
Therefore, the protocol passes the maysir screening.
CoinStudy evaluates crypto assets using a two-layer Islamic screening framework.
Projects automatically fail if their core economic activity depends on:
interest-bearing lending
borrowing systems
derivatives trading
gambling platforms
synthetic financial engineering
yield-generation mechanisms
Beldex does not rely on any of these activities.
Its primary purpose is:
privacy technology
secure communications
decentralized digital services
blockchain infrastructure
As a result, Beldex passes the red-line screening.
The project performs well overall but receives modest deductions in several areas.
One of Beldex’s strongest qualities is its practical technological utility.
The ecosystem supports:
confidential communications
decentralized messaging
privacy-oriented browsing
secure digital services
blockchain-based privacy infrastructure
These services create real technological value rather than purely speculative financial activity.
This significantly strengthens its compliance profile.
The BDX token functions primarily as a utility asset.
It supports:
transaction processing
validator participation
network security
ecosystem operations
governance functions
Unlike lending or yield-generation tokens, BDX derives value from supporting network activity and infrastructure services.
One factor reducing the overall score is regulatory uncertainty.
Privacy-focused technologies often face increased scrutiny from regulators and policymakers.
Certain jurisdictions have introduced restrictions or compliance requirements for privacy-oriented cryptocurrencies.
While regulatory risk does not create a Sharia violation, it introduces uncertainty regarding future adoption and ecosystem growth.
Like most crypto assets, BDX is actively traded on cryptocurrency markets.
This creates exposure to:
short-term speculation
market volatility
hype-driven price movements
investor sentiment cycles
These factors reduce the overall score but do not affect the project’s fundamental compliance status.
Another area of caution is long-term adoption.
The success of Beldex depends on:
user demand for privacy tools
continued network development
ecosystem expansion
application adoption
regulatory acceptance
Although the project provides meaningful utility, future growth remains uncertain and therefore receives modest deductions under the methodology.
A common misconception is that privacy-focused cryptocurrencies are automatically non-compliant.
Under the CoinStudy methodology, privacy technology itself is neutral.
Privacy infrastructure only becomes problematic when it is directly tied to:
fraud
gambling
interest-based finance
illegal activity
prohibited economic structures
Beldex’s primary purpose is secure communications and digital privacy rather than facilitating prohibited financial activity.
Therefore, privacy features alone do not create a Sharia violation.
Beldex is classified as Halal under the CoinStudy HCS methodology because its core economic activity is centered on privacy technology, secure communications, decentralized digital services, and blockchain infrastructure rather than lending, borrowing, interest generation, gambling, or synthetic finance.
The project passes the Sharia screening due to its focus on:
privacy-preserving technology
decentralized communications
secure digital infrastructure
validator-based network security
blockchain utility services
productive technological applications
Although caution is warranted regarding regulatory uncertainty, ecosystem adoption, and speculative market activity, these concerns do not outweigh the project’s fundamentally permissible technological purpose.
For these reasons, Beldex is classified as Halal under the CoinStudy HCS methodology.
This article is provided for educational and research purposes only.
CoinStudy does not provide personal financial or religious rulings. Investors should consult qualified Islamic scholars for individual guidance before making investment decisions.
Guaranteed Interest
No guaranteed interest obligations
Synthetic Interest Products
No synthetic interest instruments
No Red Line Violations
This asset passed all Sharia red line checks.
Financial Exposure Risk
25%Indirect financial exposure to interest-based & yield products
Gharar / Uncertainty
15%Clarity in contracts and absence of excessive uncertainty
Maysir / Speculation
15%No gambling-like mechanics or high speculation design
Underlying Business Activity
15%The nature of the project's core business is permissible
Utility / Real Use
10%Genuine utility and real economic value
Tokenomics Fairness
10%Fair distribution, no exploitation, sustainable tokenomics
Transparency & Governance
10%Open-source, audited, clear governance structure
