Now probably everyone knows Bitcoins meaning. That is the first cryptocurrency in the world that boosted the development of hundreds of other digital assets.
The crypto market is very volatile, and the assets rates change rapidly.
It gives vast opportunities for receiving income on the price changes, as well as huge risks of losing money if the price drops.
Experienced traders and investors succeed because they know the market and can predict its future fluctuations. Before starting trading, you need a lot of learning and practicing.
The White BIT crypto platform offers a blog where you will find a lot of helpful information on the crypto industry and guides on how to trade, buy tokens, or even create your own tokens.
Trading always comes with creating crypto pairs. To exchange one asset for another, users create such pairs, for example, BTC USDT.
How Do Trading Pairs Work?
Crypto pairs allow seeing the difference between different asset prices and their value against each other.
For example, by placing the order for BTC USDT, you can see how many USDT coins you can purchase for BTC you have got and actually see their price correlation.
Or the reverse situation: you have some USDT and wish to buy BTC, ETH, or any other asset. So you go to the crypto exchange and find the necessary pair in the list.
Then you place the order, indicating the asset you have and the asset you want to buy, and see how many USDT coins you need to spend for purchasing another asset.
All exchanges offer pairs with BTC, for it is the most popular crypto asset. The most popular pairs are:
* BTC XRP
* BTC USDT
* BTC ETH
* BTC EOS
* BTC LTC
* BTC BNB
* and many others.
Some crypto platforms also offer BTC pairs with fiat currencies.
This option is helpful for beginners who want to buy Bitcoin as their first asset, as well as for traders who wish to withdraw their crypto into fiat and cash out.