Section
Exchanges
4 articles
Centralised trading venues, examined as businesses rather than as products: how they hold customer assets, what their disclosures actually prove, which regulators they answer to, and what a headline fee rate leaves out. Exchanges are one of the two sectors the AI Citation Index measures, so several of these pieces answer questions the index itself puts to AI assistants. Nothing in this section ranks exchanges or recommends one. No link here earns the site money, which is what makes it possible to measure these brands and write about them in the same publication.
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Exchange or self-custody: what you are trading
Not safe against unsafe. The real trade is recourse against control, and the failure modes on each side are shaped completely differently.
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What proof of reserves actually proves
A Merkle-tree attestation shows assets at a moment. Without liabilities it says nothing about solvency — and most of them stop at assets.
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The fees you actually pay on a crypto exchange
A headline trading rate is one of at least five costs in a round trip. The spread is usually the largest, and it is the one no fee page shows you.
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What a regulated crypto exchange is regulated for
In most countries it means registered for anti-money-laundering supervision — a rule that protects the financial system from you, not you from the exchange.