What are Cryptocurrency pairs?
Crypto pairs or cryptocurrency pairs are assets available for trading on the crypto exchanges. Crypto pairs, also called trading pairs, show the value at which one cryptocurrency can be exchanged for another currency. Popular crypto pairs are usually associated with Bitcoin as one cryptocurrency in the pair against cryptos such as ETH, Litecoin, XRP, ADA, Vet, etc.
For instance, Bitcoin to Ethereum (BTC/ETH) pair shows how many units of ETH (quote cryptocurrency) are needed for the purchase of one unit of BTC (base cryptocurrency). Cryptocurrency pairs enable easier comparison of the price or exchange rate between cryptocurrencies.
Aside from crypto-to-crypto pairs, traders may trade pairs composed of cryptocurrency and fiat currency. For example, a BTC to USD pair shows the value of 1 bitcoin in USD or the amount of BTC that will be received for a specific number of USD. It should be noted that a fiat-to-crypto pair works in the same way as cryptocurrency pairs.