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title: "ETC Ecosystem Spotlight: Scholars Approve ETC For the Bybit Sharia Compliant Trading Platform"
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date: 2024-12-09
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author: Donald McIntyre
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contributors: ["DonaldMcIntyre"]
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tags: ["Guides"]
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linkImage: ./banner.png
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---
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As a neutral and global platform to serve everyone in the world regardless of their nationality, culture, religion, or politics, Ethereum Classic is meant to be used by individuals and families everywhere in the world as a refuge against inflation and as a protection of basic rights.
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Following this philosophy, Bybit, the second largest crypto exchange in the world by volume, has launched a Sharia-compliant trading service to cater to Islamic countries and populations, and has integrated ETC as a permitted asset based on its characteristics and the approval by scholars who have advised the company on this matter.
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Sharia Law restricts dealing in assets according to certain rules. Following is a description of some of these rules and how Bybit has adapted its offering to accommodate Islamic markets:
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**- Riba (Interest):** Traditional trading accounts often involve interest charges, which are prohibited in Islam. Bybit's Islamic account eliminates all forms of interest, ensuring compliance with this core principle.
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**- Gharar (Uncertainty):** Sharia law prohibits excessive uncertainty and speculation. Bybit's Islamic account focuses on spot trading, DCA bots, and Spot Grid bots, which promote transparent and predictable trading strategies.
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**- Maysir (Gambling):** Islamic finance forbids any form of gambling. Bybit's Islamic account promotes responsible trading practices and discourages excessive risk-taking.
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The account is separate from regular Bybit accounts and provides access to Sharia-compliant spot trading, DCA bots, and Spot grid bots.
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Currently, the Islamic account [supports 76 of the most traded Sharia-compliant trading pairs](https://www.bybit.com/en/shariahCompliant/tokenCertification) of which one is Ethereum Classic certified by their partners, CryptoHalal and Zico.
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To learn how to buy and trade ETC in general on Bybit check out our previous post:
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[Buying and Trading Ethereum Classic Through Bybit](https://ethereumclassic.org/blog/2024-06-05-buying-and-trading-ethereum-classic-through-bybit)
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To open an account using Bybit's Sharia-compliant platform go to the specific web page:
Copy file name to clipboardExpand all lines: content/knowledge/history/timeline.yaml
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text: Grayscale signals long-term support for Ethereum Classic protocol development by sponsoring the ETC Cooperative team with a portion of their ETCG management fees. Donations to the non-profit are tax-deductable.
text: The first annual Ethereum Classic conference is held in Hong Kong.
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text: ETC Cooperative funds the development of the Kotti testnet, a Proof-of-Authority testnet constructed to provide interoperability testing with sister-chain ETH's Görli Testnet. PoA becomes the preferred testnet environment for dapp development testing.
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etcSummitSeoul:
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title: ETC Summit 2018
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__dateText: ETC Cooperative
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__date: 2018-09-12
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__color: purple
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__color: green
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__icon: users
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__link: https://etcsummit.com/
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text: The second annual Ethereum Classic conference is held in Seoul, South Korea.
text: Vitalik Buterin, Ethereum's most prominent co-founder, gives an endorsement of the original Ethereum network-- Ethereum Classic for those who value Proof-of-Work chains.
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antpoolETCDAOTreasuryFund:
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title: Antpool
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etcGrantsDaoLaunch:
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title: Bitmain's $10M Support of ETC
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__dateText: ETC Grants Dao
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__date: 2022-07-26
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__color: green
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__icon: userTie
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__link: https://etcdao.co/
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text: AntPool supports Ethereum Classic ecosystem with $10M Investment. Antpool seeds a treasury fund with a goal of supporting the professional development ecosystem on Ethereum Classic.
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__link: https://www.etcgrantsdao.io
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text: AntPool and Bitmain signal support for Ethereum Classic ecosystem with $10M Investment in a Grants program. Antpool and Bitmain seed a treasury fund with a goal of supporting the professional development ecosystem on Ethereum Classic.
text: Days before the Merge, Charles Hoskinson publicly signals intent to "repurpose" the Ethereum Classic's main twitter account. He justifies this action due to sunk costs in the undelivered Mantis client and rejection of IOHK's 2021 centralized treasury proposal (ECIP-1098).
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ethMerge:
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title: ETH's Move to Proof of Stake
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title: Ethash Miners Move to Ethereum Classic
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__dateText: The Merge
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__date: 2022-09-15
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__color: purple
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__color: blue
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__icon: angleDoubleUp
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__link: https://ethereum.org/en/upgrades/merge/
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text: The Ethereum Foundation upgrades the largest EVM network to proof-of-stake consensus. This Merge event cements Ethereum Classic as the largest Proof of Work EVM network. Ethereum Classic's network security elevates as it becomes the apex network of all Ethash derivative mining algorithms. The Phoenix rises.
text: Fall out from the ETC community's social rejection of IOHK's centralized treasury in 2021, Charles Hoskinson transfers the Ethereum Classic's main Twitter account to a third-party open source project called Ergo. The Ergo team rebrands the account to their own project. Bob Summerwill is sent a newly registed Twitter account with the main Twitter accounts twitter handle with 0 history and 0 followers.
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__link: /blog/2022-10-07-twitter-debacle
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text: Fall out from the ETC community's social rejection of IOHK's centralized treasury in 2021, Charles Hoskinson transfers the verified eth_classic Twitter account with 670,000+ followers to Ergo_Platform. Social attacks such as this have happened numerous times in the past and have always been fended off by the strong convictions and principles of the ETC community. As an anti-fragile system, such events only serve to strengthen the project.
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twitter-Together:
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title: Twitter Together
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__date: 2022-10-07
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__color: green
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__icon: users
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__link: /blog/2022-10-07-twitter-debacle
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text: The ETC_Network and eth_classic twitter accounts are integrated into the Twitter Together project to allow public contributions and github repo management of the Ethereum Classic project twitter accounts.
text: Over the year, Ethereum Classic successfully onboards the largest miner migration in blockchain history. The Ethash mining manufacturers pivoted to support and market Ethereum Classic. The early participants decision to position Ethereum Classic as the flagship proof-of-work EVM proves fruitful. Ethereum Classic's achieves its unique position as the most secure smart contract blockchain in the world.
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powSummitPrague:
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title: PoW Summit 2023
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__dateText: ETC Cooperative
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__date: 2023-09-25
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__color: green
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__icon: users
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__link: https://powsummit.com/2023
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text: The first annual PoW Summit conference is held in Prague, Czech Republic.
text: Ethereum Classic core developers implement Ethereum Foundation's Shanghai network protocol upgrades to maintain operational parity with the greater EVM standards.
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era5:
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title: 5M20 Era 5
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__block: 20,000,001
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__date: 2024-05-30
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__color: green
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__icon: coins
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__link: https://etcis.money
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text: Ethereum Classic's block rewards are reduced by 20% to 2.048 ETC per block, as per the bitcoin-inspired 5M20 emission schedule. The Ethereum Classic network hashrate continues to push all-time highs showing growth in the minerbase around ETC.
text: ETC Grants Dao features the Ethereum Classic network with a large booth and development talks at Bitmain's annual conference. This is the first time Ethereum Classic is showcased to the mining community as the Proof-of-Work EVM.
text: Two years since the Ethash miners committed to securing Ethereum Classic for the long-term, the miners, mining manufacturers, and mining pools are all in agreement that Etheruem Classic is the PoW EVM of choice. Network security and EVM protocol stability enables the Application layer on Ethereum Classic to blossom.
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powSummitFrankfurt:
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title: PoW Summit 2024
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__dateText: ETC Cooperative
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__date: 2024-09-27
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__color: green
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__icon: users
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__link: https://powsummit.com/2024
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text: The second annual PoW Summit conference is held in Frankfurt, Germany.
text: An investment in the social layer of Ethereum Classic is launched. ETC Grants Dao launches the ETC Ambassador Program, a global initiative designed to spread the ETC vision to more audiences, emphasizing Ethereum Classic's unwavering commitment to decentralization and its adherence to Ethereum's original spirit.
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