We are happy to announce that you can now trade crypto-to-crypto pairs on various exchangers. The first pair we’re introducing is ETH/BTC
Exchange Pairs are the two different types of currency that are being traded against each other. The very first trading pair you will run into as a beginner is going to be your native fiat/Bitcoin which would look like “USD/BTC” on most exchanges if you were trading in US Dollars.
When you see two different currency symbols next to each other like this it means you can buy & sell these assets against each other. When you are just starting out you will probably be depositing USD into a place like Coinbase or GDAX and then purchasing Bitcoin. I will use GDAX as an example to start as it is a very simple exchange with only a few trading pairs.
We are happy to announce that you can now trade crypto-to-crypto pairs on various exchangers. The first pair we’re introducing is ETH/BTC. A new intuitive trade UI is introduced along with this update. You will be easily able to switch between INR and BTC trading pairs.
Every cryptocurrency in today’s world is associated a value, which is a multiple of value of domestic fiat currency. The same concept is applied while “Crypto to Crypto Exchange” where the base value of the relative alternative coins is decided to that of the Bitcoin.
Eg: BTC is valued at Rs 5,00,000 and the same time ETH is value for Rs 50,000. So, value of the trading pair of ETH/BTC where BTC is base exchange virtual currency will be ETH/BTC = 0.1.