Cryptocurrency trading pairs — how it works

[ccedk_pr]

Buying and selling cryptocurrency involves trading pairs. To become successful at trading, you have to understand how trading pairs work since they are the starting point of any cryptocurrency trading process.

What is a trading pair?
The term trading pair describes the exchange of one cryptocurrency for another. The starting point for every crypto trading newbie will be to buy base cryptocurrencies, the most popular of which are Bitcoin, Ethereum, and Litecoin. This step is necessary as you can only buy other cryptocurrencies, or altcoins, with base currency on the exchange. With BTC, ETH, or LTC in your wallet, you can proceed to establish a trading pair of your liking.

How does it work?
The relationship of trading pairs mimics a commensalistic relationship as the rise and decline of one currency does indirectly impact the other. For instance, if Litecoin goes up 10% while Dash stays the same in a trading pair of Litecoin/Dash, then your Litecoin will buy some more Dash than before, depending on their ratio.

To successfully manage trading pairs, you need to closely follow the value of the base coins (Bitcoin, Ethereum, and Litecoin) in your domestic fiat currency. Additionally, you have to monitor the changing value of coins that you own, as essentially the main purpose of valuing your coins in base currency is to increase the value and number of the coins you hold. Click here to check our guide on the altcoins that perform well despite the bear market!

[prasad87]

A nice informative post for newbies.
It's nice to mention that not all altcoin trading pairs are based on BTC.
Most exchanges nowadays offer ETH and USDT trading pairs, Binance adds XRP and Coinex has BCH too.

[Ifemini]

Oh very good knowledge for me, I have often wondered how this work
And had given my friends to help me sell my tokens

Do you have any kind of manuals to read up and learn more about trading pairs ??

[Galantin]

To make a successful bid. It should be well versed in projects. Because investing $ 100 - on non-investors you can make $ 1000. Bidding should start with the fact that follow up on new projects and their news. This will allow you to cheaply buy coins and get rich when they come out for a good exchange. (Be vigilant sometimes the coin falls and nothing stands)

[BlueStackz]

This is a good information for those who just came crypto and want to focus on trading, we have a lot of newbies joining our community daily and need to learn about all this things before getting themselves involved, one of them actually called me day before yesterday asking me a lot of question about crypto in a one hour booking section, he later settled at going fully on trading and I have already sent him some materials including this topic so he can study more on trading, thanks.

[kingzpro]

I see new exchanhes are adding multiple trading pairs i think just to seek more attention and users but to be honest there is not much liquidity in such pairs, personally i feel at the moment max btc, eth and usdt pairs are enough and there is no need to extend to neo, eos or even exchange token pairs.

[letyouearn]

I remember 2017, when people were arguing whether they should count their profit and ROI in BTC or in USDT...
Now the times have changed and everybody understands that every portfolio growth should be measured in fiat currency

[demenBTC]

basically the value of the trading pair is the same if in the value of btc as a reference price, all pairs of altcoins one and the other are always influenced by the btc price that is happening

[fosco333]

Buying and selling cryptocurrency involves trading pairs. To become successful at trading, you have to understand how trading pairs work since they are the starting point of any cryptocurrency trading process.

What is a trading pair?
The term trading pair describes the exchange of one cryptocurrency for another. The starting point for every crypto trading newbie will be to buy base cryptocurrencies, the most popular of which are Bitcoin, Ethereum, and Litecoin. This step is necessary as you can only buy other cryptocurrencies, or altcoins, with base currency on the exchange. With BTC, ETH, or LTC in your wallet, you can proceed to establish a trading pair of your liking.

How does it work?
The relationship of trading pairs mimics a commensalistic relationship as the rise and decline of one currency does indirectly impact the other. For instance, if Litecoin goes up 10% while Dash stays the same in a trading pair of Litecoin/Dash, then your Litecoin will buy some more Dash than before, depending on their ratio.

To successfully manage trading pairs, you need to closely follow the value of the base coins (Bitcoin, Ethereum, and Litecoin) in your domestic fiat currency. Additionally, you have to monitor the changing value of coins that you own, as essentially the main purpose of valuing your coins in base currency is to increase the value and number of the coins you hold. Click here to check our guide on the altcoins that perform well despite the bear market!

It is a good article for one who want to start trading cryptocurrency in the market.
Well, if we talk about buying and selling cryptocurrency, the first thing to do is choosing the right exchange.
After that, you need to choose what trading pair you will use to trading in the exchange.