#交易对 cryptocurrency trading pairs are asset combinations used for trading in the cryptocurrency market. Below is a more detailed introduction:

Common Types

- Mainstream Coin Trading Pairs: Trading pairs based on mainstream cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), etc., formed with pairs like BTC/USD, ETH/BTC, etc. Among them, BTC/USD reflects the exchange relationship between Bitcoin and the US dollar, while ETH/BTC reflects the value ratio of Ethereum to Bitcoin.

- Stablecoin Trading Pairs: Stablecoins are cryptocurrencies that are pegged to fiat currencies or other assets, with relatively stable prices. Common stablecoin trading pairs include USDT/USD, DAI/USD, etc. In USDT/USD, USDT is usually pegged to the US dollar at a 1:1 ratio, making it convenient for investors to store value and settle transactions in the cryptocurrency market.

- Altcoin Trading Pairs: Other cryptocurrencies besides mainstream coins are referred to as altcoins. They form trading pairs with each other or with mainstream coins and stablecoins, such as XRP/ETH, LTC/USDT, etc.

Characteristics

- High Price Volatility: The overall volatility of the cryptocurrency market is high. The prices of trading pairs are influenced by various factors such as market supply and demand, investor sentiment, macroeconomic policies, and the development of the projects themselves, often resulting in significant price fluctuations.

- 24-Hour Trading: The cryptocurrency trading market is typically open around the clock, with no fixed trading time restrictions, allowing investors to buy and sell trading pairs at any time.

- High Trading Efficiency: The transaction confirmation speed based on blockchain technology is relatively fast, especially for some cryptocurrencies that adopt efficient consensus mechanisms, enabling quick transaction settlements and improving trading efficiency.

Risks

- Market Risk: Due to severe price fluctuations, investors may suffer losses due to incorrect market judgment.

- Regulatory Risk: The regulatory policies regarding cryptocurrencies vary by country and are constantly changing, which may impose restrictions or prohibitions on cryptocurrency trading pairs.

- Technical Risk: Issues such as technical failures of trading platforms, smart contract vulnerabilities, and blockchain network congestion may lead to transaction problems, resulting in losses for investors.