Guides to trading without the usual rules
Plain-language guides for trading stocks and crypto 24/7 from a self-custodial wallet. Start at the top if you are new, or jump to a topic.
Getting started
New to crypto? Start with the wallet, the dollar and the idea.
What Is a Crypto Wallet?
A crypto wallet holds keys, the proof your coins are yours. Keys, recovery phrases, custodial vs self-custodial, and the safety habits that matter.
4 min readWhat Is USDC? A Plain Guide to the Digital Dollar
USDC is a digital dollar from Circle, backed by cash and Treasuries. What it is, why every Hyperliquid market runs on it, how to get it, and the risks.
4 min readWhat Is Self-Custodial Stock Trading?
Your broker holds your stocks and cash. Self-custody keeps your money in a wallet only you control. What that means, and what you take on in return.
4 min readWhat Does Permissionless Trading Mean?
Permissionless means no account, no application and no approval. What it means in finance, and what changes when a market is open to any wallet.
3 min read
Hyperliquid
The platform every market on Based runs on, and how to get onto it.
What Is Hyperliquid? A Plain-English Guide
Hyperliquid is the decentralised trading platform behind every market on Based. What it is, how it works, what HYPE is, and how to start trading.
5 min readWhat Is trade.xyz? Stock Perps on Hyperliquid, Explained
trade.xyz deploys the stock, index, commodity, FX and pre-IPO markets on Hyperliquid. How they work, and why Based is the cheapest wallet to trade them.
4 min readHow to Start Trading on Hyperliquid
Your first Hyperliquid trade through Based in four steps: set up the wallet, fund it with USDC, pick a market and open a position. Plus the risks.
6 min readThe Best Wallet for Hyperliquid in 2026
What makes a wallet good for Hyperliquid, as checkable facts, and how Based compares with Phantom, MetaMask, Rabby and Trust Wallet on builder fees.
4 min readHyperliquid vs Centralized Exchanges
Binance, Coinbase and Hyperliquid all trade crypto. The difference that matters is who holds your money. An honest comparison in both directions.
3 min read
How perps work
Longs, shorts, leverage and the risks that come with them.
What Are Perpetual Futures? Perps Explained Simply
Every market on Based is a perpetual future. What a perp is, how it tracks the real price, how margin and liquidation work, and the risks.
6 min readWhat Does It Mean to Long or Short?
Going long profits when the price rises. Going short profits when it falls. What shorting takes at a broker, and why a perp makes it one tap.
4 min readWhat Is Leverage in Trading?
Leverage lets a small deposit control a big position, and every move hits at that multiple both ways. Worked examples, and how it sets liquidation.
3 min readWhat Is Liquidation? (And How to Avoid It)
Liquidation automatically closes a leveraged position whose margin has run out. What triggers it, a worked example, and habits that make it unlikely.
4 min readFunding Rates Explained Simply
Funding is the payment between longs and shorts that keeps a perp pinned to its price. Who pays whom, how you can earn it, and how it adds up.
3 min read
Stocks around the clock
Trading US and Asian stocks on nights, weekends and holidays.
How to Buy US Stocks on Weekends
The stock market shuts from Friday 4pm to Monday. You can't buy shares on a Saturday, but you can trade their price 24/7 with perps on Hyperliquid.
4 min readStock Market Hours vs 24/7 Trading
The US stock market is open about 19 percent of the year. Regular, extended and overnight sessions, why stocks gap at the open, and 24/7 markets.
4 min readTrade Stocks Without a Broker: How It Actually Works
Every stock trade you've made went through a broker. What brokers do, why shares need one, and how trading stock prices works permissionlessly.
4 min readHow to Buy Asian Stocks From the US
Most US brokers barely reach Tokyo, Hong Kong and Seoul. The four ways to trade Asian stocks from the US, and the drawback of each one.
4 min readHow to Trade CXMT and Unitree From Outside China
ChangXin Memory and Unitree listed on Shanghai's STAR Market in 2026, which foreign retail can't use. How to trade both 24/7 from outside China.
4 min read
Crypto 101
Plain guides to the coins you can trade on Based.
What Is Bitcoin? A Beginner's Guide
Bitcoin is the original cryptocurrency, a fixed-supply asset secured by miners worldwide. What it is, where it stands in 2026, and how to trade it.
5 min readWhat Is Solana? A Beginner's Guide
Solana bet everything on speed: thousands of transactions a second for a fraction of a cent. How it works, where it stands in 2026, how to trade SOL.
5 min readWhat Is HYPE? The Hyperliquid Token Explained
HYPE is the token of Hyperliquid, the platform behind every market on Based. Staking, fee discounts, buybacks, and the case for and against holding it.
5 min readWhat Is Ethena (ENA)? A Beginner's Guide
Ethena built USDe, a synthetic dollar backed by a derivatives trade and one of crypto's largest dollar tokens. How it works, what ENA does, how to trade.
5 min readWhat Is Chainlink (LINK)? A Beginner's Guide
Chainlink is the oracle network that feeds blockchains prices, data and cross-chain messages. How oracles and CCIP work, and how to trade LINK.
5 min read
中文指南
用中文了解 Based 和 Hyperliquid。
长鑫存储（CXMT）怎么交易？海外用户指南
长鑫存储已于2026年7月登陆科创板（688825），但海外散户基本买不到。通过自托管钱包 Based，您可以在 Hyperliquid 上 24/7 做多或做空 CXMT 永续合约，无需中国券商账户，也无需银行账户。
4 分钟阅读宇树科技（UNITREE）股票怎么买？海外交易指南
宇树科技已于2026年8月登陆科创板，但海外散户基本无法直接买入 A 股。通过自托管钱包 Based，您可以交易 Hyperliquid 上的 UNITREE 永续合约，无需中国券商账户，24 小时不间断。
4 分钟阅读Based 使用教程：在 Hyperliquid 上交易股票与加密货币
Based 是连接 Hyperliquid 的自托管钱包。一个钱包即可 24/7 交易 BTC、ETH、SOL、HYPE 等数字资产永续合约，以及美股和亚洲股票永续合约。本文按步骤介绍创建钱包、充值 USDC 和开仓。
4 分钟阅读
Start in three steps
- Step 1
Log in
Log in with your email or Google account. Based supports social logins for convenience, provided by Privy, a Stripe company. Wallets are self-custodial: only you have access to your funds. Neither Based nor Privy can access your wallet or account.
- Step 2
Fund it
Deposit USDC. You do not need a bank account to do it.
- Step 3
Trade 24/7
Stock and crypto perps. Nights, weekends, holidays.
Based is a self-custody wallet, not a broker. Markets are perpetual futures on Hyperliquid: derivatives with liquidation risk and funding fees, not the underlying stocks or coins. For information only, not financial advice.