Access the exciting cryptocurrency markets and take advantage of the many trading opportunities. Trade your preferred currency pairs – a crypto against a fiat currency or two cryptos against one another.
What Are Currency Pairs?
The Forex market is known as the largest in the world with the most liquidity. Also, traders prefer the Forex market because the currency market trades 24 hours per day. In Forex trading, investors trade a pair of currencies against each other, such as the British pound against the U.S. dollar. This currency pair is quoted as GBP/USD. The currency listed first in a pair is referred to as the base currency. The other currency in the pair is known as the quote currency.
In the currency markets, the price or value of a currency pair tells you how many units of the quote currency are required to buy one unit of the base currency. Each currency is quoted using an alphabetic code, the ISO currency code. Each code is made up of three letters. For example, EUR is the citation for the euro, JPY represents the Japanese yen while USD is the citation for the U.S. dollar.
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