Decentralised exchanges
A decentralised exchange lets you trade without handing your assets to a company. That also means no password reset, no support desk, no reversal, and no one to appeal to when you make a mistake. For most people learning to trade, that is the wrong trade to make.
This section exists because the question gets asked constantly and the honest answer is rarely given. A DEX is not a better exchange. It is a different allocation of risk: you remove the risk that a company fails or freezes your account, and you accept the entire operational burden yourself.
The venues below are grouped by how much can go wrong, not by how good they are. The label is the point.
Understand the trade first
Three concepts that decide whether this section is for you.
Custody: who actually holds it
The difference between an asset you control and a balance a company owes you.
On-chain versus exchange trading
Where the order goes, what settles, and what it costs.
Leverage without a safety net
Liquidation mechanics on a venue where nobody will answer the phone.
Venue coverage
Nothing is listed here until we have verified it. Each entry will carry a risk tier, what it is for, and the specific way it fails — not a rating.
Serious tool
Perpetuals venues
Reviews in preparation. Each will state its risk tier, liquidation mechanism and the failure mode to plan for.
In preparation
Handle with care
Swap and spot venues
Reviews in preparation.
In preparation
Assume total loss
Memecoin and social venues
We will cover these because people use them, and we will say plainly what to expect.
In preparation