Dear users,HBTC has listed BTC/USDC & ETH/USDC trading pairs, welcome to trade USDC at: Trade BTC/USDC. Ethereum is the first choice of every trader after BTC. CME will launch ETH Futures on 8 February and this is huge news for ETH. ETH mainnet is successfully launched and many exchanges started the ETH staking pools. We will see a shortage of market supply and the demand increase as ETH futures launch on the CME exchange. Pair of ETH/BTC (BITTREX) Ethereum / Bitcoin (BITTREX:ETHBTC) − −%. KHRYSOPELEA Nov BITTREX:ETHBTC − −% Ethereum / Bitcoin. Ethereum / Bitcoin. 1W. BITTREX. O.
Trading pairs btc or ethWhat are "Trading Pairs" in Cryptocurrency? - CryptoCurrency Facts
A base currency is defined as the common currency against which all Cryptocurrencies are quoted in. There are more than 1, cryptocurrencies in existence, in which all of these coins can only be bought using Bitcoin and they cannot be bought using your domestic currency.
That is why Bitcoin is considered the gateway to the crypto world and thus, a base currency for cryptos. This stage converts your fiat currency paper currency into the crypto base currency. Some domestic exchanges allow you to buy Ethereum and Litecoin using your domestic currency. In fact, ETH and LTC are even more preferred as confirmation times are much faster and they are much cheaper to transfer. Stage 1 requires you to open a local crypto exchange that accepts your domestic currency e.
More often than not, local cryptocurrency exchanges do not offer a wide variety of coins to trade, and that's the main reason for buying the base currencies. If you want to buy any other coins besides those 3, then you would proceed to Stage 2. It should be noted that in both Stages, you shouldn't store your coins in an exchange but instead in a private wallet that you control, so as to secure your coins safely.
This rate requires you to open a cryptocurrency exchange that only accepts Cryptocurrency deposits. Here's the list of differences between a fiat-accepting exchange Stage 1 and a Crypto-accepting exchange Stage 2.
After understanding the cryptocurrency trading process, it's time to dive deeper into the mechanics of the cryptocurrency trading pairs and how it works.
This is straightforward as you will be aware of the value of coins you're buying with your domestic currency. Since you cannot buy altcoins directly from Stage 1 exchanges, the price of the altcoins is not quoted in your domestic currency.
Here's an example:. There are many applications and resources that allow you to do that, and Coin Market Cap is a popular resource:.
The main purpose of valuing your coins using a base currency most commonly BTC is to increase the number of coins you hold. Following the above example, if say you bought 1 XMR using 0. If you're on your way to buying your coins, here's a list of useful guides and resources to get you started:. Enroll in our Free Cryptocurrency Webinar now to learn everything you need to know about crypto investing. Trading pairs can be a little complicated to wrap your head around, but can be a really big benefit to those who time their trades right.
To help you better understand trading pairs, consider the example below. Example : Imagine you have on hand Bitcoin and cash meaning fiat currency like dollar bills and you want to obtain Litecoin. The fiat value of the trade is no different in the moment the trade is made as you owned that Bitcoin which went up in value the same as you owned your cash , but if your goal is to get more coins because you believe the cash value of all coins will go up or that Litecoin will go up and Bitcoin back down in this example , and you time things right, you can do really well with trading pairs.
Of course, things can go very wrong with trading pairs too. In a case staying in cash or Bitcoin would have been a better play.
Hopefully that simple example gave insight into the value and risks of trading pairs.