Crypto Terms: Letter P

What is Pair?

Pair - a trade between two cryptocurrency assets.
1 minute

Let's find out Pair meaning, definition in crypto, what is Pair, and all other detailed facts.

A pair, or a trading pair, describes two cryptocurrencies that are traded on crypto exchange platforms. The two coins in the pair are separated by either a slash (/) or a dash (—).

The first listed currency is the base currency, while the second is the quote currency. BTC/ETH is a trading pair of Bitcoin (BTC) and Ethereum (ETH). Here, Bitcoin is the base currency, and Ethereum is the quote currency. This pair means that traders can buy Bitcoin using Ethereum or sell Bitcoin to receive Ethereum.

During the exchange process, traders can see how much quote currency they require to purchase one full unit of the base cryptocurrency. Most trading pairs on various cryptocurrency exchange platforms use Bitcoin, Ethereum, and Tether (USDT) as the base currencies.

There are many factors that influence the traders’ decision of what trading pair they choose. One of the main aspects is whether a specific pair is listed on a certain exchange platform and, if so, how much liquidity it has. If the chosen trading pair has low liquidity or trading volume, it may take longer to fulfill the order or it may end up unfulfilled altogether.

Crypto-to-crypto pairs are most commonly traded on exchange platforms. However, some exchanges that support fiat currencies can also offer trading in fiat/crypto fairs, following the same trading principles.