The Ruling on Cryptocurrency Leverage/Margin Trading if the prohibitive مناط (ratio legis)can be avoided

بسم الله،
السلام عليكم ورحمة الله وبركاته،

1)I want to know what are the reasons which make crypto margin/leverage trading haram. Is it that one is selling what he does not possess on the spot? بيع ما لا يملك
Does it depend on the exchange platform (Binance, Bybit,etc)
@Mufti_Faraz_Adam Mufti_Billal
2)When using Binance or an exchange platform to convert bitcoin into an altcoin, or altoin to bitcoin or altcoin to altcoin, are there any prohibitions that must we be wary of? I guess usury is out of the way in this case, even when there is a currency conversion fee?

وجزاكم الله خيرا

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