What is a "Currency Pair"? And why is it important in the trading world?

"Currency Pair" is a fundamental term in the forex market and digital currencies. Simply put, it is a comparison between two currencies, one being sold and the other being bought.

Example: In the ETH/USDT pair, you are buying or selling Ethereum against Tether (the digital dollar).

Types of Currency Pairs:

Major: Such as BTC/USDT or EUR/USD, which are the most traded.

Minor: Strong currencies but less traded, such as ETH/BTC.

Exotic: Includes currencies from emerging countries against major currencies.

Why is it important to know the pair?

Because understanding the pair gives you a clearer view of market movements and helps you identify the best entry and exit opportunities.

Advice for beginners:

Do not enter any trade before understanding the pair you are trading, and always monitor the impact of news on the base and quote currency.