Trading pairs are a fundamental concept in cryptocurrency trading, and understanding them is essential for placing orders correctly. After registering on Binance, you'll see various trading pairs -- don't let them confuse you.
What Is a Trading Pair
A trading pair represents the exchange relationship between two cryptocurrencies. For example, "BTC/USDT" means buying or selling BTC with USDT. The first is called the "base currency" (what you're buying/selling), and the second is the "quote currency" (used for pricing and settlement).
Common Trading Pair Types
- USDT pairs: Such as BTC/USDT, ETH/USDT -- priced in USDT, most commonly used
- BTC pairs: Such as ETH/BTC -- priced in BTC
- BNB pairs: Such as ETH/BNB -- priced in BNB
- FDUSD pairs: Some coins support FDUSD as the quote currency
How to Choose a Trading Pair
Beginners should start with USDT pairs. USDT is a stablecoin pegged to approximately 1 USD, making it easy to calculate profits and losses. When you want to buy Bitcoin, search for the "BTC/USDT" trading pair and place your order there.
Trading Pair Depth
Each trading pair has its own order book and trading depth. Higher-volume pairs have smaller bid-ask spreads and lower slippage. Major coins' USDT pairs typically have the best depth.
How to Find Trading Pairs on Binance
In the Binance APP, tap the "Trade" button at the bottom. At the top, you can switch between different quote currency markets like USDT, BTC, etc. You can also search directly for the coin name you want to trade. Download the Binance APP to experience the smooth trading interface.