In either of these cases you’d be making a buy trade, either buying BTCBUSD (trading BUSD for BTC) or BTCUSDT (trading USDT for BTC).ĭoes this mean that it’s only possible to purchase BTC with BUSD or USDT? Nope! BTC features in other pairs too, like ETHBTC and XRPBTC. If, however, you were paying in USDT then it would cost you 60607.26 USDT. If you were going to pay for that in BUSD then it would cost you 51421.87 BUSD.

market_price_ticker() %>% arrange(symbol) %>% mutate(price = round(price, 6)) What does this mean? Well, let’s look at the corresponding price information. For example, the BTCUSDT pair has BTC as the base and USDT as the quote. There are vastly more pairs on the Binance mainnet.Įach pair consists of two cryptocurrencies, the base and the quote. So there are twenty pairs, all of which are currently available for spot trading (their status is TRADING). Symbol status base quote is_spot_trading_allowed Which pairs can we trade? Let’s see what currency pairs are available on the Binance testnet. The price will be different if you are purchasing in USDT or ETH (or any other cryptocurrency for that matter). For example, what is the price of BTC? Well, that depends on what you are using to purchase BTC. It always needs to be compared to another cryptocurrency. It doesn’t make sense to think about the price of a single cryptocurrency in isolation.

Trades always involve a pair of currencies and prices are always quoted for pairs. The relative amounts of each currency involved in the transaction is determined by the market price (or spot price). In a single trade you’d exchange an amount of one currency for the corresponding amount of another currency. Eliminating the trading fees on selected BTC spot trading pairs is another move towards that direction.Trading is the process of buying and selling assets, where in the current context those assets are cryptocurrencies. At its core, Binance is an inclusive platform with accessibility in mind. The founder and CEO of Binance, CZ has stated, “In line with our user-first philosophy, Binance has always strived to provide the most competitive fees in the industry. The exchange has announced that this rule will be in effect till further notice. It will be implemented from July 8, and customers will be able to trade on thirteen stablecoins and fiat combinations including BTC/USDT, BTC/USDC, BTC/EUR, BTC/TRY, and more without paying any trading fee.

These pairs help in comparing the value of one cryptocurrency against another.īinance has earned fame for maintaining the lowest spot trading fees in the industry and has now become the leader with this move. These pairs involve the quote currency, the one which investors use for trading if the aim is to earn more or to accumulate a particular coin, and the base currency is used against the first one. On July 6, Binance announced that it will be celebrating its 5th anniversary and will celebrate achieving this milestone by eliminating trading fees on a wide range of bitcoin spot trading pairs.Ĭryptocurrency trading pairs refer to a set of assets that can be traded for each other on exchanges dealing with virtual currencies. Since the recent market crash, the firm has been incorporating new changes and planning new ventures. The cryptocurrency exchange Binance is a familiar name in the crypto space and is among one of the leading exchanges in terms of trading volume. This rule will be in effect from July 8.Customers of Binance will now be able to trade bitcoin spot trading pairs without paying any trading fee.

Binance fees on base or quote