Trading Pair
A trading pair shows two assets that can be exchanged for each other on a crypto exchange, such as BTC/USDT or ETH/BTC.
A trading pair is the market quote an exchange uses to show that one asset can be traded directly for another. It is usually written as BASE/QUOTE, where the base asset is what you are buying or selling, and the quote asset is what the price is measured in. For example, in BTC/USDT, bitcoin is the base asset and USDT is the quote asset, so a price of 60,000 means 1 BTC costs 60,000 USDT.
Trading pairs matter because they determine which swaps are available, how prices are displayed, and what fees or spreads you may face. If an exchange does not offer ETH/EUR, you might need to trade EUR for USDT first, then USDT for ETH, adding extra steps and potential costs. Pairs also help compare liquidity: a popular pair like BTC/USDT often has tighter spreads and faster execution than a rarely traded pair.
Other terms in Exchanges & Platforms
Fiat Off-Ramp
A fiat off-ramp is a service that lets users convert cryptocurrency into government-issued money and withdraw it to a bank, card, or payment account.
Fiat On-Ramp
A fiat on-ramp is a service that lets users buy cryptocurrency with traditional money such as dollars, euros, or pounds.
Maker / Taker Fee
A maker/taker fee is an exchange trading fee model that charges different rates depending on whether an order adds liquidity or removes it.
Order Book Depth
A measure of how many buy and sell orders are available at different prices on an exchange, showing how easily a market can absorb trades.