Useless Coin
USELESS#137Useless Coin (USELESS) is a Solana meme coin that openly markets itself as having no purpose or utility at all.
- Market cap
- $227.05M
- Volume 24h
- $42.42M
- All-time high
- —
- Circulating supply
- 999.08M of 1B
Does not clear all 8 Shariah criteria. Needs caution: business model and excessive uncertainty (gharar). Fails: nature of the asset, gambling (maysir), and usage.
- 3 pass
- 2 caution
- 3 fail
Verdict history
- DoubtfulCurrent
First publication
Fundamentals, market picture and news will appear here.
Halal analysis
Can a Muslim hold Useless Coin?8 Shariah criteria
3 pass · 2 caution · 3 failHolding USELESS pays nothing: there is no staking, lending or fee-sharing.
Riba is interest or any guaranteed increase on a loan. USELESS has no staking, governance, lending or revenue function, and CryptoUmmah finds no direct riba mechanism. Holding it produces no return, so the criterion is at the maximum; lending USELESS through third parties is interest and is covered under trading mechanisms.
The project itself says USELESS promises nothing and has no use.
This criterion asks whether the asset has real value as property (mal). USELESS is marketed as 'the world's first cryptocurrency that promises nothing and delivers exactly that', with no DeFi, NFTs or staking. CryptoUmmah, the first authoritative source that rates it, notes that its parody whitepaper states it does nothing. A token whose issuer denies any function has no coin-specific basis as property beyond speculation, so the criterion fails.
USELESS's value depends purely on sentiment and influencer-driven rallies.
Maysir is gambling: gaining or losing by chance rather than through productive exchange. USELESS has no use, so holders profit only if others pay more later. CoinDesk reported a 2,000% rise in two weeks in June 2025, driven by well-known traders and South Korean influencers. CryptoUmmah calls trading it essentially a zero-sum wager and scores maysir 15/100. The criterion fails.
USELESS has no business of its own, but its launchpad has funded purchases of it with meme-launchpad revenue.
This criterion asks how the issuer or ecosystem earns and whether any of that income is impermissible. USELESS has no issuer income. The Block reported that LetsBONK, the meme-token launchpad where USELESS was created, would use 1% of its revenue for weekly purchases of top tokens on its platform, naming USELESS. That revenue comes from launching and trading new meme tokens, an activity close to gambling. Holders receive nothing directly and the amount is small, so the criterion is at caution rather than fail.
The team is anonymous with joke identities and no audit was confirmed, though supply is fixed and the mint is renounced.
Gharar is excessive uncertainty or hidden information. The supply is simple: about 1 billion tokens, almost all circulating, with no presale and a renounced mint authority. But CryptoUmmah notes that the team is anonymous, listed under joke identities, and that no verifiable audit of the Solana token could be confirmed; it scores gharar 36.8/100. A single trader was reported to hold about 2.8% of supply. These are concrete uncertainties, so the criterion is at caution.
USELESS is used only for speculative trading, by design.
This criterion looks at what the asset is actually used for. USELESS has no payments, apps or network role; its only activity is trading on exchanges and DEXs. With speculation as its only use, the criterion fails.
Fully paid spot USELESS is available and can be held in any Solana wallet.
This criterion asks whether the asset can be owned in a permissible way. USELESS trades spot with full payment and delivery on exchanges and Solana DEXs, and it is an ordinary SPL token that can be held in self-custody. Ownership does not depend on derivatives or leverage, so the criterion is at the maximum.
No concrete fraud, hack or insider dump is documented; the harm of speculation is counted under gambling.
Maslahah weighs benefit against harm. USELESS openly discloses that it has no purpose, and no source collected documents fraud, a hack or a team dump. The harm of pure speculation is already counted under maysir, asset nature and usage, so it is not counted again here and the criterion is at the maximum.
How you can use it
Tap a card for the ruling and sourcesBuying USELESS with full payment and immediate delivery is available on exchanges and Solana DEXs, and the tokens can be moved to a self-custody wallet. Spot is acceptable for a DOUBTFUL asset for those who follow the permissive view, but USELESS fails the gambling criterion.
No USELESS exchange-traded fund was found. A product that holds USELESS itself would be judged like spot; its structure would need to be checked.
USELESS is not used for payments. Tier-1 bodies such as Indonesia's MUI rule that using cryptocurrency as currency is not permissible.
Not available natively: USELESS has no staking function and no validation work. Products marketed as USELESS 'staking' get their return from somewhere else, usually lending or incentives, and must be checked.
Margin trading in USELESS is offered by some exchanges but is never acceptable: it is a deferred exchange with borrowed money and leverage (AAOIFI SS 20).
USELESS futures and perpetuals are offered by derivatives exchanges, but futures, perpetuals and options always fail under AAOIFI SS 20: deferred exchange without delivery, usually with leverage.
Lending USELESS through exchange or DeFi lending programmes pays depositors interest from borrowers. This is riba.
USELESS pays holders nothing itself. Yield products on USELESS get their return from lending or similar interest-like sources and fail.
Scholars quotes
Penggunaan cryptocurrency sebagai mata uang hukumnya haram, karena mengandung gharar (ketidakjelasan), dharar (bahaya) dan bertentangan dengan Undang-Undang nomor 7 tahun 2011 tentang Mata Uang dan Peraturan Bank Indonesia nomor 17 tahun 2015 tentang Kewajiban Penggunaan Rupiah di Wilayah Negara Kesatuan Republik Indonesia.Sebagaimana mata wang yang lain, mata wang digital hendaklah tidak digunakan sebagai bayaran kepada barangan, perkhidmatan dan aktiviti tidak patuh Syariah seperti pembelian dadah, pelacuran, perjudian dan pendanaan aktiviti keganasan serta penggubahan wang haram.The SAC has also resolved that investment and trading of Digital Assets that fulfil the above requirements and which are traded on Digital Asset Exchange (DAX) registered with SC are permissible.Third: In light of the above and given the significant risks associated with this type of currencies and the instability of their transactions, the Council of the Academy recommends pursuing research and studies on issues affecting its ruling.Bitcoin is a digital currency that does not meet the legal and Sharia criteria that make it a currency subject to the rulings of dealing with official legal currencies recognized internationally.بناءً على ذلك: فلا يجوز شرعًا تداول عملة "البتكوين" والتعامل من خلالها بالبيعِ والشراءِ والإجارةِ وغيرها، بل يُمنع من الاشتراكِ فيها؛ لعدمِ اعتبارِها كوسيطٍ مقبولٍ للتبادلِ من الجهاتِ المخُتصَّةِ، ولِمَا تشتمل عليه من الضررِ الناشئ عن الغررِ والجهالةِ والغشِّ في مَصْرِفها ومِعْيارها وقِيمتها، فضلًا عما تؤدي إليه ممارستُها من مخاطرَ عاليةٍ على الأفراد والدول.According to research and opinion of experts so far, cryptocurrency is not considered ‘ maal ’ (wealth) in Sharia.Muhammadiyah memandang transaksi dan investasi kripto pada dasarnya mubah (boleh) tetapi dengan syarat tertentu.The opinion on this is the same as doing the same with any halal assets such as shares – 1) is permissible, 2) is more debatable and there are differing opinions on short-term trading.Our current position is 'tawaquf'; we can't say it is halal or haram, but we say it is better not to engage in itAs I mentioned at the beginning of this article it is not necessary to substantiate the permissibility of something as long as there are no prohibited factors involved in it or surrounding it.AI-assisted analysis checked against sources. Not a fatwa or investment advice.
Where it trades
Section in preparation
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