#TradingTools101 Trading pairs refer to the two different types of currencies that are traded against each other in financial markets, particularly in cryptocurrency and forex exchanges. A trading pair shows what you are buying and what you are selling, such as BTC/USD, where Bitcoin is traded against the US Dollar. The first currency in the pair is the base currency, and the second is the quote currency. The price of the trading pair indicates how much of the quote currency is needed to buy one unit of the base currency. Traders use these pairs to speculate on price changes and exchange rates.