Crypto Trading
How crypto markets differ structurally, what custody risk actually means, and where spot and derivatives diverge.
Part of the course
Crypto Trading
What makes crypto markets structurally different from traditional ones — continuous trading, custody risk, fragmented liquidity — and what that changes about how you approach them.
How Crypto Markets Differ
Crypto trades continuously, across many venues with separate order books, with retail-accessible leverage far above traditional norms. Those three structural facts change the practical experience more than any chart pattern does.
8 min read
Custody and Exchange Risk
Assets on an exchange are a claim on that exchange, not assets you hold. Understanding what that means operationally — before you need to — is the difference between an inconvenience and a total loss.
8 min read
Spot vs Derivatives in Crypto
Spot means you own the asset. A derivative means you hold a contract whose value tracks the asset — with margin, liquidation and funding attached. They are different instruments with different failure modes.
8 min read