#TradingPairs101 Trading pairs on Binance are fundamental to cryptocurrency trading, representing two currencies that can be exchanged directly with each other. Each pair consists of a base currency (the first currency) and a quote currency (the second), showing how much of the quote currency is needed to buy one unit of the base currency—for example, in BTC/USDT, Bitcoin is the base and Tether (a stablecoin) is the quote currency[1][2]. These pairs enable traders to buy one asset while simultaneously selling another, facilitating market liquidity and price discovery without converting to fiat currency. Binance offers various types of pairs including crypto-to-crypto (e.g., BTC/ETH), crypto-to-fiat (e.g., BTC/USD), and crypto-to-stablecoin (e.g., ETH/USDT), each serving different trading needs and strategies[3][4][6]. Understanding trading pairs is crucial for effective trading, as they determine how assets can be exchanged, influence trading fees, and provide insights into market demand and relative asset values[1][7]. Popular pairs like BTC/USDT are highly liquid and widely used for both trading and price benchmarking on Binance[5].