Looking for crypto exchanges with fiat pairs? This article about trading pairs is dedicated to getting you on your way to making sound decisions by choosing the best trading pairs possible and making the most profits out of them. And not dozing off meanwhile. Don’t think we can do it? We even made parabolic curves fun – look.
- The profession of trading and the traders: a crypto pair made in heaven
- Before you start learning about trading crypto pairs
- What are crypto trading pairs?
- Understanding crypto pairs
- What the key differences between crypto and regular currency pairs are
- Top crypto pairs: which pairs does Nominex have?
- What is currency pair volatility?
- Best crypto pairs to trade
Crypto exchange pairs, cryptography, FreeBSD: USD/WTF?
If you’re just getting into cryptocurrency pairs trading you’re probably super-excited about the pure beauty of it all. The reason why I’m in crypto is that it’s the most wild, fun, and wonderful job of them all.
And yet, if you’re looking to learn the somewhat techy aspects of it, like cryptocurrency pairs, in order to trade, you may be watching a few videos, starting to read an article, getting bored, and then switching to something more exciting. Which is really sad. Because trading deserves to be fun – and in demand. And yet 70% of people still don’t know what crypto is and how it can bring fire to their lives and light up the enveloping darkness.
The profession of trading and the traders: a crypto pair made in heaven
Trading has always been super-fun, and crypto has the potential of changing everything about the way we look at the world and live our lives. For me, crypto, its instant payments, absence of government trackage, the possibility of making money out of thin air, and its general Jason Borne air were always something out of a sci-fi book fantasy that ultimately came true.
Growing up not exactly rich, Azimov’s books were my azimuth (although sometimes it seemed like “myth” was the largest part of that concept). It seemed like that heart-wrenchingly beautiful reality was so fairy-tale it would never come to be. And yet there was hope.
Men could invent Tabulating Machines. Why couldn’t they create cyborgs in time? And here we are, with flying taxis, Sophia the human robot, drones delivering pizzas in the time of coronavirus, massive automation, Half-Life: Alyx, and cyberpunk worlds so stunningly rich and interactive it’s only a matter of time you won’t be able to tell apart VR and the real world.
Blockchain has always been a part of that enigmatic world, Bornesque forces clashing in the depth of dark pools, struggling for power and freedom. Blockchain is being used by Amir Taaki to rebuild a war-torn country, surgeons train on augmented reality instead of living people, and a lot of people who were paying massive chunks of their salary to have their money shipped back to their family are enjoying instant transfers and ridiculously small transaction costs.
How much real financial freedom means is really underestimated. Crypto pair trading means being able to make money out of anywhere. Crypto means no-one is taking it away from you. And from then on life is a cakewalk. Buying a house in Hawaii is just a matter of putting away $30 every day for three years. And an experienced trader will tell you making that much money is not exactly difficult — or time-consuming. You could be all you can be — if you only knew what to do.
Recap: what matters when you’re getting into trading:
- On-platform education;
- Many incentives.
Now, all that’s really left after registering at an exchange with a good license, excellent reviews, and gamification is learning how to trade. Interested? Even the coronavirus is telling you to get trading: there is officially no better job in the world as everyone is going remote. And tropical islands are a must.
Before you start learning about trading crypto pairs
However! If you’re getting into crypto pair trading you’ll know this is a niche filled with countless warnings. It’s not difficult getting catfished by an exchange, get phished, run into CAT run by malicious bots, get birddogged by a hacker, or lose your Internet, call the support and hear that there’s no connection because “all their lions are down”. When choosing an Internet provider remember, the coalifications are irrelephant! Look for good reviews!
So here’s our advice if you’re looking to stick a finger to the 9 to 5, start making real money, keep it and eventually vamoose into a beautiful life in this dog-eat-dog world:
- Choose an Internet provider (and your exchange) carefully and monitor reviews;
- Get 2FA;
- Watch that you’re visiting the correct site address;
- Research bots and why your worldview is being manipulated from top to bottom by media and malicious strangers;
- Get a hardware wallet;
- Study crypto but in a way that’ll keep it light, interesting, and fun;
- Find an exchange that makes it their mission to make trading as cool and funky as possible.
With Nominex, there’s an endless array of ways to learn about crypto and have a good time. This blog is dedicated to enabling you to not only surf through complex concepts but also to apply your knowledge in real-life trading — with demo tournaments if you don’t have real money. If that’s what it takes to get you trading, we’ll give you money if we have to. Oh wait, that’s already happening.
So now you’re in the know about where let’s get down to what. What are crypto exchange trading pairs and how to make the best use of them? Here are crypto pairs, explained and ready to go.
What are crypto trading pairs?
When you register and open an account you can start trading straight away. But! What does BTC/USDT mean (top left), what kind of market is that and why is it that way?
Trading pairs are (you guessed it) pairs of cryptocurrency that you’re going to make money on while trading. Are you a Dogeficionado? Do you want to couple a Doggie Coin with Bitcoin? That’s not as easy as it looks.
Abbreviated like this (dollar=USD, euro=EUR), trading pairs normally look like so: BTC/USDT or USD/EUR. The latter is the most popular trading pair in the world. Should you be horrified because they’re slashed? Well, the pair of them is ok, and the slash in between stands for their relationship to one another.
Understanding crypto pairs
Using this example, the USD/EUR pair is an indication of how much of the second currency you can buy for the first. For example, right now with everything that has been going on with the USD, you can buy 0.92 Euros.
That means that (exchange rates vary in different airports) normally if you’re standing there in an airport wanting to change your USD into EUR if you give the exchange kiosk clerk 1 USD you’ll get a lot of clunky change and the clerk will look at you reproachfully. And if you give them 400 USD you’ll get 368 Euros back. That’s how trading pairs work.
Funnily enough, if you come back and realize you’ve been using your credit card all along and the cash is still there, you can change your Euros back into Dollars and if Euroscame up you’ll get your money back and then some. This time you’re exchanging 368 Euros for Dollars but the Euro is now worth 0.80 of the Dollar, so for your 368 Euros, you’ll get 460 USD back. You just traded currency — and you had no idea. It’s that awesome.
If the EUR/USD indicator is growing, you’ll get more money if you invest in a currency. And that happens in two case scenarios: if the Euro is growing or if the USD is falling.
But why trade crypto, you say?
What the key differences between crypto and regular currency pairs are
You can trade using normal currencies, but the trick here is the same as if you traded stable stocks. The price of some company that is doing well will likely stay at the same level and get you next to nothing dividends.
You’ll have to trade with really large sums to get ROI on a stock that everyone is certain in about. Sometimes there are exceptions, like Google going for a dramatic 12% price change, but that’s not typical and you can’t count on it.
But in crypto, there’s huge volatility. If there’s one thing that is certain here is that nothing is certain. That, and margin trading, means that if you know exactly what you’re doing, you can make money on crazy price swings — and make it fast. As long as you trade responsibly.
That’s why the crypto sphere is technically only for supercool traders — and that is why it’s worth dedicating some time to Nominex’s blog and trying out trading in demo. Nothing can beat practice.
Top crypto pairs: which pairs does Nominex have?
BTC, LTC, BCH, DASH, ZEC, XRP, XMR, USDT, ETH, OMG, IOTA, NEO, TRX, NMX, BAT, LINK, ZRX, DOGE.
What is currency pair volatility?
Volatility is inherent to crypto markets like no other place on Earth. There are volatile stocks in regular markets, like Nektar Therapeutics, Freeport-McMoRan Inc., Advanced Micro Devices Inc., and so on, but there’s nowhere where you will see an asset go from $20 000 to $8 000 while you went to get a cup of coffee.
The opportunities here are pretty amazing, as the price ratio changes very quickly. So if you buy a 1000 BTC for $5000 and sell it 3 days later for $8000 you’re not doing too badly with $1 Mln profit a day. The best thing is that for trading you don’t need to have money, to begin with — you can borrow money at the exchange (with interest rates ofc). But! Obviously, that takes a skilled professional. Don’t borrow while drinking and/or driving. And stay away from drugs! Trust me, there’s nothing on the market that even comes close to power.
Best crypto pairs to trade
How to read crypto pairs? When you’re trading currency pairs there is a relationship between currencies. You buy one and sell another. So if you’re buying ETH/BTC you’re getting a long ETH position and a short BTC one. What you want is for ETH to get more expensive and BTC should fall so you can make some profit.
The best crypto pairs to trade are the ones where one currency is getting more expensive and the other one is falling in price. There’s reason to believe (at the time of writing) that the Dollar will be falling because of “brrrrrr”; and Bitcoin will be more in demand because it doesn’t transmit viruses or include huge commissions and so on. So not a bad idea to buy BTC for USD.
So now you know! If you liked this article please care and share.