What are currency pairs?

if you’re a complete noob as we all were at some point, you might be wondering why all these tabs have two currencies listed. These are what we call currency pairs and what they represent is the value of one currency in relation to another currency. It’s really not that complicated. So, say as an American anytime you travel to Canada and you exchange your money there’s some value there that you’re getting some exchange rate there so when you exchange your US dollars you’re not getting that same number of canadian dollars back because you’re getting back the value in relation to canadian dollars so that’s the value of the u.s. dollar relative to the canadian dollar and that would be represented here as USD and CAN and as a currency pair so typically when you’re on a website or something you see the value of Bitcoin it’s implied that that’s relative to the US dollar so on a site like codacoin.com you’ll see the value of Bitcoin listed here and that’s in relation to the US dollar the nice thing about this site is you can easily change it to other currency pairs here’s the euro things like that another great place to see it is on the homepage of the Bitcoin exchange here see the currency pair Bitcoin/US Dollar that’s the same as what we saw here on the opening of this page – value in relation to value can also see other one of the other major ones: Bitcoin to the euro also how the cryptocurrencies are related to one another so Ethereum to Bitcoin here, for example So what these are called it the first currently listed is called the base currency the second currency listed is called the counter currency so when if you were to see something like BTC USD 1139 that means that the currency pair: bitcoin is the base currency US Dollars is the counter currency and it means that one bitcoin can be exchanged for 1139 US dollars so it’s the value of Bitcoin relative to the US dollar let’s go through some quick examples: so this chart shows the value of Bitcoin relative the US dollar the chart shows the value of Bitcoin relative to the euro this shows Ethereum relative to the US dollar the show’s etherium relative to Bitcoin. If you have any questions go ahead and leave them in the comments and I’ll do my best to answer. Have a great day.

11 thoughts on “What are currency pairs?”

  1. Thanks for the vid, my question is when one currency is paired against another, can they both rise? Or one rises, the other has to fall. For example i'm watchin NEO/BTC on the BTRX exchange. Does btc have to decline for neo to rise?

  2. How do you know what pair to trade? Right now I'm wanting to buy LTC, right now LTC/USDT is $103.00 BUT BTC/LTC is going down and not up. I really don't understand because Both BTC & LTC have gone up over night, so how is it that BTC/LTC is in a down trend? Had I taken a position last night in BTC/USDT I would be in profit, but if I had taken a position in BTC/LTC I would be in the negative right now. Can you elaborate on this? I'm a newb lol. Thanks for the Video by the way

  3. You didnt share the math! I failed basic math!! Please help!! How do you convert for example LTC/XVG into fiat when all your given is in BTC?? So many videos on trading, i just want one with the math.

  4. Thanks for this vid. I have been going thru the pairs on NEO and its up on most pairs but down on NEO/KCS, its hard for me to know if this is a value play

    One other thing if I want to buy this, do I have to have my USD in KCS currency or some wallet on the exchange

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