#TradingPairs101 In Binance, trading pairs (also known as currency pairs) are combinations of two cryptocurrencies or a cryptocurrency and a fiat currency that can be exchanged with each other on the platform. This means that when you see a pair like BTC/USDT, you can buy Bitcoin (BTC) with Tether (USDT) or sell Bitcoin for Tether.

What are trading pairs on Binance?

They represent the exchange rate:

A trading pair shows the relationship between two assets, indicating how much of one currency you need to buy another.

They facilitate exchange:

They allow users to buy and sell cryptocurrencies directly to each other.

Example:

BTC/USDT means you can buy Bitcoin with Tether.

Variety of pairs:

Binance offers a wide variety of pairs, including cryptocurrency-to-cryptocurrency pairs, cryptocurrency-to-fiat pairs (such as USD, EUR), and fiat-to-fiat pairs.

How to choose the right trading pair?

Research:

Evaluate the value of each cryptocurrency and the performance it can offer in relation to the cryptocurrency you wish to use.

Consider fees:

Pay attention to the transaction fees that Binance applies for each trade on each pair.

Review the market:

Some pairs may be more volatile than others, meaning their prices can fluctuate more rapidly, which can be advantageous or risky depending on your investment strategy.

Examples of trading pairs on Binance:

BTC/USDT: Bitcoin against Tether.

ETH/USDT: Ethereum against Tether.

BNB/BTC: Binance Coin against Bitcoin.