In cryptocurrency, an exchange pair refers to the two different types of cryptocurrencies that are being traded against each other on an exchange platform. It represents the relationship between two digital assets being exchanged.
For example, if you are looking to trade Bitcoin for Ethereum, the exchange pair would be BTC/ETH. This indicates that you are trading Bitcoin (BTC) in exchange for Ethereum (ETH).
When you see a cryptocurrency pair listed on an exchange, such as BTC/ETH or LTC/BTC, it means that you can exchange one cryptocurrency for another at a specific exchange rate set by the market.
The value of one cryptocurrency in relation to the other in the pair can fluctuate based on market demand and supply. This means that the exchange rate between the two assets can change over time, impacting the value of your trade.
