Exchange and Custody Counterparty Risk

Proof-of-reserves headlines vs operational reality.

4 Lessons8m total

Keeping assets on an exchange exposes you to platform credit, security, and regulatory risk. Self-custody shifts keys management risk to you.

Start Course

Course Overview

Proof-of-reserves headlines vs operational reality.

What You'll Learn

✓Core concepts explained with market context

✓Practical examples tied to real instruments

✓Risk-aware framing — educational only

✓Next-step links across the VegaDeck curriculum

Keeping assets on an exchange exposes you to platform credit, security, and regulatory risk. Self-custody shifts keys management risk to you.

“Proof of reserves” snapshots may exclude liabilities or use incomplete methodologies. Insurance funds and bankruptcy remoteness clauses differ by venue and region.

Diversify custody for size, use withdrawal drills, and never treat marketing copy as a risk model.

Educational only · not investment advice · Risk disclosures

Curriculum

7 Lessons · 56m

1On-Chain Metrics: A Skeptical IntroExchange flows, active addresses, and why context beats buzzwords.8m▢

2Altcoin Liquidity Tiers and SlippageWhy top-10 depth differs from long-tail tokens.8m▢

3Bitcoin Volatility Basics (No Price Targets)Realised vs implied measures and why tail risk dominates narratives.8m▢

4Exchange and Custody Counterparty RiskProof-of-reserves headlines vs operational reality.8mContinue Learning

5Spot vs Perpetual Swaps in Crypto MarketsFunding, basis, and custody risks for readers crossing over from FX.8m▢

6Stablecoins: Peg Mechanics and TransparencyFiat-backed, crypto-collateralised, and algorithmic designs at a high level.8m▢

7Wallet Security HygieneKeys, seeds, phishing, and hardware wallets at a high level.8m▢

Course Resources

↗BabyPipsbabypips.com ↗Forex Factoryforexfactory.com ↗CoinDeskcoindesk.com

Ready to take your trading to the next level?

Join readers who are advancing their skills with structured VegaDeck Academy lessons.

Start Learning Today

Educational only · not investment advice · Risk disclosures

Exchange and Custody Counterparty Risk — VegaDeck