How risky are swaps?

I'm curious to know, how risky are swaps in the world of finance and cryptocurrency? Are they a viable investment option for those looking to diversify their portfolios, or do they come with significant drawbacks and potential losses? What factors should investors consider before engaging in swap transactions, and how can they mitigate the risks involved? Understanding the intricacies of swaps is crucial for making informed decisions in this complex and ever-evolving market.