Crypto trading has become a really popular activity and has brought many new people to the financial market, most of whom have never traded or invested in anything, let alone crypto. With this popularization of crypto trading and the sheer number of people who trade on this market, it should not be surprising that there are a few cryptocurrency trading pairs that stand out among the rest, despite there being over 21,000 cryptos to choose from.
But why are these crypto pairs so popular? This is what we will be taking a look at today. So, without further ado, let’s dive into the most common crypto trading pairs.
Most common crypto trading pairs
When looking at the most common crypto trading pairs, it should not be surprising that these pairs consist of the biggest cryptocurrencies on the market. Despite there being over 21,000 cryptocurrencies, the majority of the market is taken up by just a few tokens, and these are what people are most interested in. Because of this, most common crypto pairs usually consist of large cryptocurrencies and almost every crypto exchange or broker allows you to trade these pairs. Below we will take a look at some of the most common ones. We should also mention that we will only be looking at the trading pairs consisting of cryptocurrencies, so pairs with Forex currencies, like BTC/USD and ETH/USD, will not be on this list.
The most common crypto trading pair is the combination of the two largest cryptocurrencies on the market, Bitcoin and Ethereum. This should not be surprising as Bitcoin is the largest crypto on the market and Ethereum, on top of being the second most expensive cryptocurrency, is also the most used blockchain in the world. Because of this the interest and demand on this pair are really high and a very large number of traders use this pair for their trading activities. You can look at this pair in a similar way as you would the EUR/USD pair in the Forex market, in terms of popularity and adaptation. Because of this, almost every crypto exchange or broker has this as their main trading pair.
The second most popular crypto trading pair is BTC/USDT. Here we might start to see a pattern, which is that Bitcoin is present in a large number of these pairs. In this case, it is pretty much the easiest and most straightforward way to trade with Bitcoin using crypto. Since USDT is the most popular stablecoin that maintains a $1 value, trading it in a combination with Bitcoin makes trading easier and more effective. This is so because you know exactly how much you are trading, and unlike BTC/ETH where the price might be complicated to comprehend at one glance, this BTC/USDT pair is easy to understand at a glance. Not just Bitcoin, but almost every cryptocurrency will have a pair with USDT or other stablecoins for this exact reason.
The next common crypto trading pair on our list is the combination of the most popular meme token and the largest crypto on the market. Despite being a meme token, Doge maintains its place inside the top 10 biggest cryptocurrencies and has become a really popular token to trade with. This popularity stems from the Doge having good volatility and it commonly jumps up in price due to hype, such as a tweet by Elon Musk. When Doge skyrocketed a couple of years ago, a lot of people bought this token and became familiar with it, and even after falling from that height it remained an active currency in the market. This is what makes Doge a good pairing for BTC and a good asset to trade with in almost every exchange.
We can not mention Doge without mentioning Shiba Inu, as both of them are meme tokens that broke barriers and are now on the list of the biggest cryptocurrencies in the world. This connection between them creates somewhat of an interest for these tokens and because of this, their trading pair, SHIB/DOGE or DOG/SHIB, is one of the most common trading pairs on crypto exchanges. Their popularity is further boosted by their volatility, as both of them are meme tokens and their volatility fluctuates quite often. If you are looking for a pair with high volatility and both tokens inside the top 20 largest token list, this is a pair to go for.
While the popularity of this pair might have fallen a little, Solana and Ethereum are still commonly paired on the market. This is thanks to both of these cryptocurrencies being designed for the same purposes, with Solana coming later and people calling it the Ethereum killer. Because of this, we will see most blockchain-based companies accepting both of these tokens, with a good example being OpenSea which allows minting with both SOL and ETH. With this in mind, we can see why this is a common pair to trade with, but after Solana crashed last year, the popularity dropped.
Should we trade with these pairs?
As some of the most common cryptocurrency pairs it should be easy enough to tell that trading with these tokens is a good idea. But saying that this is the best decision you can make might not always be correct. You should try trading with these common pairs if you want the best stability (in crypto terms), but giving a try to lesser-known pairs might yield some great potential profits. So if you are on a quest to find an ideal pair to trade with, experimenting with other pairs is a must.
FAQs on most common crypto pairs
What is a Crypto trading pair?
A crypto trading pair is a collection of two cryptocurrencies, where one crypto is a base crypto, so the one you are getting, and the second crypto is the quota currency, so the one you are selling. These pairs are created by exchanges and brokers and you can trade them in the same way that you would trade Forex pairs.
What is the most popular crypto trading pair?
The most popular pair when trading crypto is the BTC/ETH pair. This pair consists of two of the largest cryptocurrencies on the market, making it the most desirable pair to trade with. It does not matter which crypto exchange or broker you visit, the chances of not seeing this pair are close to zero. If we include fiat/crypto pairs as well, then this honor is taken by BTC/USD, which has way higher trading volumes on a consistent basis.