Exchanges utilize cryptocurrency pairs in order to facilitate the trade between different tokens.
Cryptocurrency trading pairs allow investors to make smart decisions about the transactions they want to accomplish through an exchange. As more pairs become available, traders have a larger variety of transactions they can perform. In order to successfully exchange one cryptocurrency token for another, you either need to find an exchange that supports that trading pair, or you will need to perform several transactions between different pairs in order to reach the final result you are looking for.
Cryptocurrency trading pairs are an essential part of the crypto economy, as they allow for the easy swap of one token for another. Crypto exchanges have become aware of the need to support as many crypto pairs as possible in order to meet the needs of traders. In addition, certain crypto trading pairs may offer better trading conditions in terms of fees and taxes. While unpopular trading pairs between altcoins usually incur more significant trading fees, the most sought-after crypto trading pairs have proven themselves to be a better deal. However, correlations between different cryptocurrencies may sometimes result in more profitable trading pairs for altcoins. Considering this, it is important to research and take note of the fees and taxes associated with each trading pair that might be of interest.
Join the thousands already learning crypto!