Shaykh Sālih al-Fawzān said,
Indeed the virtues of the month of Ramadhān are numerous, from them are the following:
1. A Pillar of Islām is Performed in Ramadhān.
Allāh has specified Ramadhān for the performance of a pillar (fasting) from the pillars of Islām. This is sufficient to show us the nobility and virtue of this month.
2. The Qur’ān was Revealed in Ramadhān.
The month of Ramadan in which was revealed the Qur’ān. (Al-Baqarah: 185)
This is a tremendous virtue, this time was designated for the revelation of the greatest book (the Qur’ān) from the books of Allāh.
A benefit taken from this is that the recitation of the Qur’ān during this month has a greater virtue than any other month. Even though it is desirable for the Muslim to be plentiful in recitation of the Qur’ān in every month, however in this month, the month which the Qur’ān was revealed in, the month wherein Jibreel (alayhis salām) would come and review the Qur’ān with the Prophet (sallallāhu alaihi wa salam), this month has tremendous virtue in reciting the Qur’ān.
All year round the reward for one letter is ten rewards, however during Ramadhān this is multiplied.
3. The Night of Decree is in Ramadhān.
This month has within it, a night which is better than a thousand months. So whosoever prays and worships Allāh upon this night, seeking his reward, then he will be rewarded with the equivalent of 1000 months. And if we calculated this in years it is more than 80 years, all of that time being as if a person was in the worship and obedience of Allāh.
4. Rewards are Multiplied during Ramadhān.
From the virtues and excellent qualities of this month, is that righteous deeds are multiplied in reward many times over, more than in any other month, this is due to the nobility of this month.
5. Tarāwīh is Specified during Ramadhān.
Allāh specified this month with the establishment of the Tarāwīh prayer -which is prayed in congregation in the masājid – and this does not take place in any other month. This shows us Ramadhān’s virtue and great status with Allāh.
6. Gates to Paradise are Open and Gates to the Fire are Closed
During Ramadhān the gates to Jannah are opened to accept righteous actions and their performers, whilst the gates of the fire are closed and disobedience and sinning becomes less during this month.
7. The Devils are Chained and Shackled.
Allāh restrains the devils from the believers during this month, therefore, they do not cause corruption to their worship, because of this you will find the people striving upon acts of worship, even those who are normally lazy and negligent throughout the rest of the year. You will see them striving upon acts of worship during Ramadhān, this is something clear (and well known).
This is because the devils are shackled away from the people of ēmān. As for the disbelievers and hypocrites, then indeed the shayātīn have authority over them in Ramadhān and other than it.
We ask Allāh (Mighty and Majestic) to bless us all, with the good and blessings of Ramadhān, and to make us all from those who take benefit from its virtues and rewards, and we ask that we are not prevented from its virtues and rewards, nor are we prevented from performing righteous actions in this month or other then it.
Abridged and Paraphrased from Shaykh Fawzāns Majālis Shahr Ramadhān al-Mubārak pgs 8-11