What are Crypto Trading Pairs? Which are the top crypto trading pairs of 2024?
Crypto Trading Pairs are like currency exchanges for cryptocurrencies just like on airport where you want to exchange one currency with another currency. Confuse? Let me clear this.
A trading pairs indicates two cryptocurrencies you can exchange on a platform. Mostly crypto exchanges offers BTC, ETH and USDT pairs. You can trade them against each other. For Example If you want to buy bitcoin using usdt.
How Do crypto Trading pairs work?
Locate the Trading Pairs
Almost every excange serve this trading pair btc/usdt. You shall find btc/usdt pair on your choosen exchange. Binance Crypto Exchange is the biggest exchange in the world. You can find almost every famous crypto trading pairs on this exchange.
View the Quote
Exchange will dispaly the price of bitcoin in term of usdt. For example 1BTC = 60200 USDT This is the qoute currency
Place your order
After deciding how much btc satoshi ( A single unit of btc is called satoshi ) you want to buy and how much usdt you want to spend. Place your order
Order Execution
If there is a seller is offering bitcoin at your desire price then exchange will execute the order and you will get bitcoin
Famous Crypto trading pairs
There are many crypto trading pairs available on different exchange. Famous and popular crypto trading pairs are
USDT trading pair ( Stable coin ) e.g Matic/usdt Dot/usdt
BTC trading pairs ( Eth/btc, Sol/btc , Link/btc )
Eth Trading pairs ( trx/eth , ARB/eth icx/eth )
BNB Trading Pairs ( LTC/bnb, Cake/bnb , Sui/bnb )
There are 1000+ cryptocurrencies are available for trading on Binance exchange. You can trade them against each other
Can Crypto pair Trading be Profitable?
Yes Crypto Pair trading can be profitable. In fact stablecoins like USDT , USDC and FDUSD can avoid the unnecessary high fees while you converting your cryptocurrencies into fiat. If you think market can dump then pairs in stablecoins can help you to avoid volatality of the market.