Seeing BTC/USDT, ETH/BTC everywhere? These are trading pairs — the most fundamental exchange concept. Register on Binance and download the Binance app.
The Basics
A trading pair has two currencies separated by a slash. The first is the base currency (what you're buying/selling), the second is the quote currency (what you pay/receive with).
BTC/USDT = buy/sell BTC using USDT. Price of 65,000 means 1 BTC = 65,000 USDT.
Why So Many Pairs?
The same token may have multiple pairs (BTC/USDT, BTC/FDUSD, BTC/EUR) for users holding different quote currencies. Most Chinese users use USDT pairs.
Reading Prices and Changes
BTC/USDT +5% = BTC rose 5% relative to USDT in 24 hours. ETH/BTC -2% = ETH underperformed BTC by 2% (ETH may still be rising in USD terms).
Trading Volume
Higher volume = better liquidity = less slippage. Stick to high-volume pairs for smoother execution.
Choosing a Pair
Match it to the currency you hold. If you have USDT, use USDT pairs.