Trading and Risk
How holding and moving crypto works, and where security fails.
Start here · Essential guide
A plain-language guide to the main wallet types, hot and cold, custodial and self-custody, and the security, convenience and responsibility trade-offs of each.
A beginner-friendly glossary of common crypto and market terms, from wallets and gas to bull markets, liquidity, slippage and market capitalization.
What counterparty risk means for crypto held at exchanges, with careful case studies of Mt. Gox and FTX and the custody lessons people commonly draw from them.
What hardware wallets do, how they keep private keys isolated from your computer, and the threats they do not stop, such as phishing and lost backups.
How multisig wallets require several keys to approve a spend, how m-of-n setups work, and the trade-offs in complexity, recovery and shared control.
Why crypto transfers take time and cost different amounts: block production, fee auctions, congestion, confirmations and practical tips for sending funds.
Common phishing patterns that target crypto wallets, how malicious approvals and drainer sites work in general terms, and warning signs and protections.
How private keys, public keys and seed phrases relate, why they decide who controls crypto, and the common ways people lose or leak them.
How proof of reserves works, what Merkle tree liabilities proofs show, and why they cannot by themselves prove an exchange is solvent or honest.
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