$BTC A cryptocurrency pair is essentially a comparison of the prices of two crypto tokens. The most popular cryptocurrency pair is ETH/BTC.

A trading pair is when two cryptocurrencies can be traded against each other, as opposed to a cryptocurrency and fiat. For example, BTC/LTC, or ETH/DOGE. In order to acquire the one, the other will need to be exchanged. In this case, the base currency is now a cryptocurrency.

Here's how the process generally works on a crypto exchange:

*Choose Your Pair: Select the desired trading pair from the exchange's crypto pairs list. ...

*Check the Rate: Look at the current exchange rate for your chosen pair. ...

*Execute the Trade: Place an order to trade your base (BTC) for the quote (ETH) at the given rate.