Pro lessonTrading Terminology · 1/53 min read
Bid, ask, spread and trading pairs
What bid, ask and spread mean, how to read a trading pair like BTC/USDT, and the difference between the base currency and the quote currency.
Every trading screen shows prices for a trading pair and an order book. Once you understand these two ideas, the rest of trading vocabulary becomes much easier.
A trading pair shows which two assets are being swapped. In BTC/USDT, the first asset, BTC, is the base currency. It is the thing you buy or sell. The second, USDT, is the quote currency. It is what the price is measured in and what you pay with.
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