Assalamualaikum Mufti
I’ve read that if you have crypto on a crypto exchange like luno,binance,etc. you are not really the owner since you do not have the private keys. I’ve seen people say things like 'not your keys not your crypto '. So is it permissible to trade crypto on such exchanges?
Jzk khayr
Wa alaykum salaam,
Binance does not issue you with a private key as your funds are on the exchange, not in your own personal wallet.
This does not mean it’s impermissible. Binance can be considered as your broker who hold it for you in their wallet on the exchange. The fact that you have the ability to spend, exchange and withdraw shows you have constructive possession over these assets.
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