What do I need to pay Zakat on?

The most common Zakatable assets from which zakat is calculated are:

  • Gold and silver. The equivalent for it today is cash money.
  • Cash; on hand, bank accounts and even under your mattress
  • Cryptocurrency
  • Stocks and shares
  • Business inventory (commodities and goods) in modern transactions, stocks are the most common business assets.
  • Investment properties
  • Pension funds

Do I pay Zakat on cryptocurrency?

Yes. Take the value of your Crypto and convert it to gold. If your crypto wallet’s value is more than the value of 85 grams of gold for a year or more, then you must pay 2.5% of your cryptocurrency in Zakat for the year.