The trading pair #交易对 is a combination of two assets (such as cryptocurrencies, foreign exchange, or stocks) in the financial market for direct trading. In the cryptocurrency field, trading pairs are usually made up of a base currency (like BTC) and a quote currency (like USDT or ETH). For example, BTC/USDT indicates buying Bitcoin with USDT. Trading pairs are divided into major pairs (like BTC/USDT, involving stablecoins) and minor pairs (like ETH/BTC, trading between non-stablecoins). Trading pairs with high liquidity (like mainstream coins) can reduce slippage risk and improve execution efficiency.

The operation of trading pairs relies on the exchange matching mechanism: the buyer inputs the purchase amount, and after the seller's order matches, the trade is completed, with the price determined in real-time by market supply and demand. When choosing a trading pair, it is essential to consider liquidity (which affects transaction speed), fees (differences between exchanges), security, and platform support. For instance, BTC/USDT has become a mainstream trading pair due to its high liquidity, while ETH/BTC is suitable for swing trading strategies. Trading pairs in the foreign exchange market (like EUR/USD) involve currency exchange rate fluctuations and require macroeconomic analysis for operation.