#TradingPairs101 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 with 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 currency pairs (such as USD, EUR), and fiat currency pairs with each other.

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 want to use.

Consider fees:

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

Check the market:

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

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