Disclosure and risk

1. The referral relationship

This site contains exchange promotional links and one referral code. When a reader signs up with that code and then trades, the exchange returns a share of the fees it collects to us. We are not an exchange's official website, we have no affiliation, agency or commercial partnership with any exchange, and we never hold anyone's funds.

That share is paid out of the exchange's own revenue. It normally costs you nothing extra and does not change the fee rate you pay — whatever the official page shows when you register is what applies. As far as we know, signing up with the code and signing up directly give you the same rates and the same product access.

The relationship currently in place:

The size of the fee discount is set by the exchange and can change at any time — whatever their signup page shows when you register is what applies. We are not an employee, agent or partner of the exchange and have no influence over account opening, review or processing.

2. How we limit the conflict

A rebate model naturally pushes a site to write more “go sign up” and less “here's the trap”, and to encourage frequent trading, because more trading means more rebate. To keep from sliding that way, we hold ourselves to these rules:

• No exchange links on the home page at all. The home page displays the referral code in plain text with a copy button. You can type it in on the exchange's own site without passing through anything of ours.
• Exactly one article carries a signup entry point, the guide for people who understand the mechanics and want to try a small amount — and it carries exactly one. Every other article, tool and policy page carries none.
• Zero referral links in explanatory content. None of the mechanism articles contain coded links; when we cite an exchange's official page we use the plain address, and screenshots are captured logged out.
• No hooks in the tools. The tools pages contain no signup entry points or referral links. Three of them read public market data endpoints (no account, no account information) to display current readings, but they only describe what has already happened, they give no directional hints, and they don't slant results toward whoever pays us — in fact one of them reads the public endpoint of a platform we have no relationship with at all.
• The behaviour we argue against is the behaviour that would pay us most. This site repeatedly explains the cost of frequent trading, the amplifying effect of leverage, and the structural disadvantage of acting on headlines. That content reduces our revenue rather than increasing it. It's the most concrete evidence of independence we can offer.

3. Editorial rules: three hard lines

Beyond the financial disclosure, three content rules apply, and they are equally checkable:

1. No price predictions: no direction calls, no targets, no “what happens next”.
2. No forecasts dressed up as explanations: “every time in the past X, so this time…” never appears here.
3. No timing advice: we explain up to “now you know why it moved”.

If you find anything on this site that breaks one of these, it's a mistake. Tell us and we'll fix it.

4. This is not investment advice

Every article, table, tool and example here exists to help you understand how price movement works. None of it constitutes investment, financial, tax or legal advice, and none of it is a recommendation of any digital asset, platform or strategy.

We don't know your finances, your risk tolerance, your experience or your local law, so we are in no position to judge whether anything is suitable for you. Decisions made on the basis of this content are yours, and so are the consequences.

5. Risk warnings

• Price risk. Crypto assets have no daily limits; double-digit intraday moves are normal, and your capital can fall sharply or be lost entirely.
• Leverage and derivatives risk. Leverage magnifies losses as well as gains. In fast markets, liquidation can complete before you're able to add margin; in extreme cases losses can exceed the amount you put in.
• Platform risk. Exchanges can suspend withdrawals or restrict services because of technical failures, regulatory action or business problems. Assets held on an exchange are assets whose control you have handed to somebody else.
• Operational risk. Choosing the wrong network for a withdrawal, mistyping an address, or moving funds to the wrong account is usually irreversible, uncancellable, and beyond anyone's ability to recover.
• Comprehension risk. This one is specific to a site like ours: understanding why prices move does not mean you can anticipate them. Mistaking explanatory power for predictive power can lead you to bet more than you would have while ignorant.
• Regulatory risk. Rules on holding, trading and reporting crypto vary enormously between jurisdictions, and some prohibit residents from using offshore platforms. Confirming that you are permitted to use a service is your responsibility.
• Tax risk. Disposing of crypto assets is a taxable event in many jurisdictions. We give no tax advice; consult a licensed professional where you live.

6. Accuracy and timeliness

Content is provided as-is with no warranty, express or implied. Protocol parameters, platform rules and interfaces change; figures reflect the moment we verified them. Every article carries an update date and every screenshot carries a capture month. Third-party data aggregators define their own methodologies, and we treat their numbers as orders of magnitude only.

Before doing anything with real money, go by what the official page shows right now. If you find a discrepancy, write to [email protected] and we'll verify and correct it.

7. Third-party links and data

When explaining where data comes from we refer to exchange documentation, regulators, block explorers and third-party data sites. Those are operated by others; their content, privacy practices and security are outside our control. Once you leave this site, their terms and privacy policies apply.