Crypto trading pairs are essential for trading on crypto exchanges. They allow users to trade one cryptocurrency for another without exchanging either for fiat currency first. A cryptocurrency pair allows each asset in the pair to be valued without using fiat money. Cryptocurrency trading pairs are a necessary part of the crypto economy and liquidity.
Another reason to use trading pairs is to decrease trading fees. If the trading pair did not exist, you would need to use at least two crypto trading pairs to obtain your desired cryptocurrency and pay additional trading fees, as you would be committing to two trades as opposed to only one.
The trader could use a more common trading pair as an intermediary to trade DOGE/SHIBA. In this case, the trader can opt for the DOGE/USDT trading pair to swap. The trader can obtain USDT by selling DOGE. Then, the trader can utilize the SHIB/USDT trading pair to finally buy the SHIB coins.
How to read crypto trading pairs
Reading a crypto trading pair is easy because there are only two parts: the base currency and the quote currency.Cryptocurrency trading pairs are often represented with a set of three letters with a backslash such as AAA/BBB.
The base currency is always the first cryptocurrency in a crypto trading pair. For BTC/USDT, BTC is the base currency. The ticker* before the “/” is always the base currency in crypto. Another example is ETH/BTC, in which ETH is the base currency.
The second part is the quote currency. It is the price of the base currency quoted using the quote currency. The quote currency comes after the “/”. For the trading pair of BTC/USDT, USDT is the quote currency.
* tick is the smallest price change that can occur in a market
Within our new TruBit Pro application, you can now check the crypto pairs available, below we will show you our updated list of pairs:
Trading in cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
TruBit Pro would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. TruBit Pro and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
If you have questions regarding this information, please contact the TruBit Team via our chat channel or email us Here and we'll be in touch!