What is a trading pair?
Why prices are quoted as BTC/USDT and what that means.
Beginner 2 min readUpdated 5/27/2026
Risk warning. Crypto is volatile and trading involves risk, including the loss of your capital. Past performance does not guarantee future results. This content is educational and is not financial advice.
A trading pair shows what you're trading against what. BTC/USDT means you're buying or selling Bitcoin priced in USDT.
- The first asset (BTC) is the base.
- The second (USDT) is the quote.
- A price of "65,000" on BTC/USDT means 1 BTC costs 65,000 USDT.
Pairs let you move between assets — e.g. sell BTC for USDT, then buy ETH with that USDT.