No pardons for anyone that matters

Please feel free, as I am sure many will, to correct me but as I understand the structure of a pardon is that the one being pardoned admits guilt to the charges outlined in the pardon and more importantly they give up their rights under the fifth amendment and basically are compelled to tell everything they know with respect to any crime they were party or aware of with respect to that pardon.

If trump is really guilty of ANY crimes than that would be the last thing he would be advised to do. Not to mention that nothing says “I’m guilty” as pardoning those in your inner circle before charges are even made public.

If trump was party to any crimes or if people like Manafort or Cohen have any direct knowledge of crimes that trump was a party too than he is better off to let the chips fall where they may and hope for the best than to all but ensure that his involvement in those crimes becomes public.

Is that analysis wrong?